Bharti AXA Life Group Credit Protection Pro
A comprehensive group credit protection plan is an easy way to safeguard you & your family from loan liabilities and provides financial stability in the face of life’s unforeseen exigencies.
5 reasons to buy
- Multiple benefits - The policy offers multiple benefit options such as a cover for Terminal Illness, Critical Illness, Accidental Total & Permanent Disability and Accidental Death.
- Choice of cover - It offers flexibility to choose between Level cover or Reducing cover.
- Loan Moratorium period - Coverage for loans with moratorium period ranging from 1 month to 10 years
- Rebates on premium - Exclusive premium rebate for women lives and joint borrowers.
- Extra Protection – Offers option to cover 125% of loan amount.
All customers of the Master Policyholder who satisfy the following conditions or within the conditions defined by the Master Policy holder (MPH) will be eligible for coverage under this product.
Plan at a Glance
|Policy Coverage Term||
The policy term for different benefit options are as follows -
The Coverage term shall be consistent with loan tenure. The members shall be able to choose the coverage term lower than loan tenure as per their requirement
|Minimum Premium||Based on the minimum sum assured, policy term, premium payment term, gender, age, interest rate, coverage level option and benfit option chosen.|
|Minimum Sum Assured (₹)||₹ 5,000|
|Maximum Sum Assured (₹)||
Max Sum Assured shall depend on the options chosen.
|Minimum Group Size||20 Members|
|Moratorium Cover||1 Month - 10 Years|
|Type of Cover||Level Cover, Reducing Cover|
*The minimum/maximum age at entry, sum assured & the coverage term will be scheme specific & shall vary as per underwriting limits based on data submitted by the master policyholder.
*In case of the life insured being a minor at the time of policy issuance, the ownership of the policy will vest in the life insured on the attainment of age 18 years as per age attained on last birthday.