IndiaFirst Life Group Loan Protect Plan

Securing your loans, securing your family

IndiaFirst Life Group Loan Protect Plan is a group credit linked insurance product which enables organizations to provide their members with an enhanced value offering - giving them security along with finances to enliven their dreams. It facilitates organizations to safeguard themselves against liability exposure as well as empowers members to ensure their family’s dreams are protected and are liability free in case of an unfortunate event like death or total permanent disability due to an accident or upon diagnosis of any covered critical illness.

REASONS TO BUY INDIAFIRST LIFE GROUP LOAN PROTECT PLAN

  • You have five different cover options to choose from:
    I.Life Cover
    II.Life Cover + Accidental Total Permanent Disability (accelerated)
    III.Life Cover + Critical Illness (accelerated)
    IV.Life Cover + Accidental Death
    V.Life Cover + Family Income

  • You can cover upto 120% of your initial loan amount

  • Option of covering upto 4 lives under one policy. (Applicable only for Co-Sharing option)

  • You can choose to pay your premiums from regular (only available with level cover option), limited or single premium options

  • You can choose between a level or decreasing cover options

WHAT ARE THE ELIGIBILITY CRITERIA?

  • Minimum Entry Age is 14 years (last birthday) for following benefit options:
    Life Cover
    Life Cover + Family Income

  • Minimum Entry Age is 18 years (last birthday) for following benefit options:
    Life Cover + Accidental Total Permanent Disability (accelerated)
    Life Cover + Critical Illness (accelerated)
    Life Cover + Accidental Death

  • Maximum Entry Age is 75 years (last birthday)

  • The Maximum Age at maturity is 76 years

  • Minimum group size that can be covered is 10 members and there is no limit on the maximum group size

  • Minimum Sum Assured is Rs. 5,000 and no limit on maximum Sum Assured, depending upon BAUP

  • Minimum term in the plan is 1 month and the maximum term is 30 years, depending upon the selected premium payment term. The maximum cover term per member should be less than or equal to the loan term

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