Group Credit Life Plan
Have you given a thought as to what if something was to happen to any
member of your group ? At one hand, you would want to safeguard the outstanding loan amount and at the other, you would
also want to help his family in such a difficult time.
To deal with your concern, AEGON Religare Life Insurance offers you AEGON
Religare Group Credit Life Plan, which not only provides the members of your group with a
life insurance plan but also adequately covers their outstanding loan amount so that your as
well as their families’ needs are looked after, at an affordable cost.
Key Features
Certificate of Insurance -
On acceptance of risk and premium, certificate of insurance shall be issued to respective members.
Other Features
Inclusion and Exclusion of Members - A member will be included from the date of joining the group as per the scheme rules. A member will be excluded from the
group on expiry of the loan period or member attaining maximum age permissible under the policy or on foreclosure of loan.
Participation into the scheme
- It is voluntary to participate in the scheme for the existing and new members.
Free Look Cancellation - – In case, you are not satisfied with the policy, you may choose to cancel it within 15 days of receiving the policy by returning the
policy documents to us with a letter stating the reason for cancellation. Upon such cancellation, you will be paid back the premium, minus the
cost of stamp duty and medical examination (if any) and proportionate premium for the period for which insurance cover and rider cover, if any
was provided up to the date of cancellation, for the members.
Grace Period - You are allowed to pay premiums within 30 days from the due
date of your premium payment date. If the due premium for the respective member is not received within the grace period, the respective member
cover will lapse and no benefit is payable. However
in case of death during the grace period, any premium due shall be recovered from the benefit payable.
Benefits
Death
Level Sum Assured - In case of any member’s unfortunate demise, benefit payable is the chosen sum assured.
Decreasing Sum Assured - In case of any member’s unfortunate demise, benefit payable is the sum assured as per the sum assured schedule.
The Sum Assured schedule will be decreasing at the interest rate as defined in the scheme rules.
For
Details
Read
product brochure
Call
1800 209 9090
sms
“INSURANCE” to 56677
