Group Credit Secure
The purchase of a home is a huge undertaking that takes a lot of effort to make it happen. We're confident that you have chosen the right financial partner to assist you in achieving this dream. Allow us to secure your treasured possession, your home so that such unforeseen circumstances do not hinder your progress.
Critical Illness - Entire Sum insured is payable on the first diagnosis of any of the below mentioned 15 critical illness and procedures subject to the below conditions:
a) The Insured Person experiences a Critical Illness specifically listed and defined in this Policy
b) The Critical Illness experienced by the Insured is the first incidence of that Critical Illness
c) The signs or symptoms of the Critical Illness experienced by the Insured Person commenced beyond waiting period of more than 90 days following the Issue Date of the Certificate of Insurance or Inception Date, whichever is later
d) None of the General or Specific Limitations or Exclusions specifically contained in this Policy applies
e) Only one claim shall be payable to the insured regardless of the number of Critical Illness, incapacities or treatments suffered by him/her
f) The policy shall cease on the payment for the first critical illness and no subsequent renewals can be done for the policy.
15 Critical Illness’s covered are as follows:
2. End Stage Renal Failure
3. Multiple Sclerosis
4. Major Organ Transplant
5. Heart Valve Replacement
6. Coronary Artery Bypass Graft
9. Myocardial Infarction (First Heart Attack of specific severity)
11. Third Degree Burns
12. Creutzfeidt- Jakob Disease
13. Primary (Idiopathic) Pulmonary Hypertension
14. Motor Neuron Disease with Pemanent Symptoms
15. Progressive Scleroderms
Accidental Death - If an Insured Person suffers an accident during the policy period and this is the sole and direct cause of his death within 365 days from the date, then we will pay the Sum Insured as mentioned in the policy schedule subject to the following conditions:
a. Geographical jurisdiction - Worldwide
b. Disappearance - We will pay the benefit for Loss of Life occurring within Operative Time if Insured person's body cannot be located within 365 Days after the forced landing, stranding, sinking or wrecking of a conveyance in which You were a passenger or as a result of any Acts of God, in which case it shall be deemed, subject to all other terms and provisions of the Policy, that You shall have suffered loss of life within the meaning of the Policy.
In case of more than one claim made during the same policy period for which our liability is 100% of the opted Sum Insured we shall pay against only one claim, whichever loss is earlier. The cover under this Policy, for the specific Insured, shall terminate in the event of claim of such insured becoming admissible and accepted by the Company under this Section. In consequence thereof no benefit shall be payable under any other section of this Policy except Section 6 cover for Standard Fire and Special Perils
Permanent Total Disability - If an Insured Person suffers an Accident during the Policy Period and within 365 days from the date of the Accident this is the sole and direct cause of his permanent total disablement.
We will pay, provided such disability has continued for a period of 12 consecutive months and is total, continuous and permanent at the end of this period.
For detailed exclusion on the above mentioned benefit please refer policy wording.
Education Benefit - We will pay principle sum insured as stated in the Schedule of the Benefits, if the insured suffers either Accidental Death or Permanent Total Disability as described in the policy wordings. We will pay the benefit to the eligible child who is a full time student in any Institution at the time of such incident. Eligible child who is not enrolled as full time student become permanently ineligible for the benefit, even if he or she is enrolled at a later date. In case the child is a minor, the benefit will be given to the joint account of the legal guardian and the minor child. Also, in case of cover to more than one child, the benefit will be paid equally to the eligible children. This would be a onetime payment. The maximum number of eligible child/children is upto 2. We will pay 10% of Principal Sum Insured or Rs. 5 lakhs, whichever is lower.
Involuntary Loss of Job - We will pay up to the specified limit as mentioned in the Policy schedule in case of Loss of Job of the insured person.
We will pay Three Home loan Equated Monthly Installment (EMI) subject to specific conditions mentioned below:
a) You are a salaried employee and You are a permanent employee of the organization working on a full time basis and such employment has been in force for a continuous period of 12 months,
b) You are paying the EMI on a Regular basis ;
c) Submission of Sanctioned letter and Repayment Track Record or Bank account statement reflecting EMI or Loan account Statement.
d) A claim under this section shall become admissible provided the period of termination, dismissal, temporary suspension or retrenchment from employment of the Insured shall not be less 30 consecutive days (“Retrenchment Period”).
e) This would be a onetime payment at the end of the continuous period of unemployment b) of 3 months for which claim has been made and is admissible under the policy.
Cover for Standard Fire and Special Perils - In case, the Property insured described in the said Schedule or any part of such Property be directly destroyed or damaged by any of the perils specified during the period of insurance, We will pay You the value of the Property at the time of the happening of its destruction or the amount of such damage or at its option reinstate or replace such property or any part thereof.
For detailed exclusion on the above mentioned benefits please refer policy wording.
Above mentioned is only a summary of the product coverage’s. The actual benefits available are as described in the policy, and will be subject to the policy terms, conditions and exclusions. Please seek the advice of your insurance advisor for any further information or clarifications.
a) This policy covers persons in the age group of 20 years – 65 years.
b) The policy will be issued for a period of 3/4/5 year/s.
c) Sum insured is available from 1 lac to 5 crores
a) 90 days from the first inception of the Policy with Us for Critical Illness and Involuntary Loss of Job benefit Section.
Tax Benefit - The premium amount paid under this policy qualifies for deduction under section 80D of the Income Tax Act 1961, applicable for critical illness cover only. Tax benefits are subject to changes in tax laws.
Terms of Renewal
a) Policy is ordinarily lifelong renewable, subject to application for renewal and the renewal premium in full has been received by the due dates and realisation of premium.
b) Grace period of 30 days for renewing the policy is provided. To avoid any confusion any claim incurred during break-in period will not be payable under this policy.
c) There is no maximum cover ceasing age under this Policy.
For more details refer the policy wordings before concluding a sale.
General Exclusions -
- Any pre-existing condition, any complications arising from it.
- Any Critical Illness or covered Disease/Illness/Sickness of which, the signs or symptoms first occurred prior to or within ninety (90) days following the Policy Issue Date or the last Commencement Date, whichever is later.
- Any Critical Illness resulting from a physical condition which existed before policy date which was not disclosed. External congenital anomalies / defects (known or unknown) or any complication or condition arising therefrom.
For more details on exclusions, limitations, terms and conditions, please refer policy wordings, before concluding a sale.