Bharti AXA Life Group Loan Protect

(ADVT NO:II-Nov-2019-1974)

A comprehensive group credit protection product that safeguards your customer’s family in unforeseen circumstances, by paying an amount to settle your outstanding liability. This product provides an easy and inexpensive way of providing financial stability along with your existing offerings.

4 Reasons to Buy

  • Convenient Premium Payment Terms : The plan offers the choice of three premium payment term options, single pay, limited pay and regular pay to protect the policyholder during the entire coverage term.
  • Sum Assured options : Group Loan Protect provides multiple coverage options on loan amount that allow the policyholder to customize the insurance cover requirements as per his outstanding liabilities.
  • Joint Life Coverage : Under this product, one additional life along with the primary borrower can also be covered.
  • Tax benefits : You may be eligible for the tax benefits on the premiums paid and the benefits received subject to the prevailing provisions. The tax benefits are subject to change as per change in Tax laws from time to time.
Parameters Eligibility Criteria
Minimum age at entry 15 years, age last birthday, for Education Loans only 
18 years, age last birthday, for all other Loan types 

Risk coverage for each life, including minors, will commence immediately on date of commencement of the policy contract. For minors, level Sum Assured will be offered only in case of interest only loans.
Maximum age at entry 70 years, age last birthday
Maximum Age at Maturity 75 years 

In case of Joint Life coverage, maximum coverage term will be 75 years less the age of the older member
Coverage Term (in whole years) 2 years to 30 years
Moratorium Cover Minimum Cover-1 year 
Maximum Cover-7 years 

For all mortgage and education loan customers, max moratorium i.e. the period of level cover will be 7 years.
Minimum Sum Assured (₹) 10,000
Maximum Sum Assured (₹) No Limit, subject to underwriting
Premium Payment Modes* Annual, semi- annual, quarterly* & monthly*

*Through auto pay only