Those looking to get covered against the financial risks of loan payments in the event of permanent total disablement or death due to an accident can choose an insurance policy that offers pay-outs to repay outstanding loans. Such policy can ensure protection from financial risks during such times, for one’s family.
Group Protect - Credit Protect 18-60 years from Aditya Birla Health Insurance Co. Ltd. offers coverage to help you and your family pay any outstanding loans, during these challenging times.
Plan Details
|
Sum Insured (Rs.) |
Premium incl. taxes (Rs) |
|
Rs. 1 lakh |
Rs 69/-
|
Eligibility: This plan can be taken by individuals between the age of 18 and 60 years, as on the last birthday who have a running loan as on the date of application.
Plan Validity: The plan is valid for a tenor of one year.
What's Covered
-
Credit protection benefits
Here is what is covered under the plan
- The payout basis for this policy is fixed. It pays the outstanding balance from the loan amount.
- In the event of the policyholder’s accidental death or if the policyholder suffers from permanent temporary disablement due to an accident that occurred during the policy period, the insurer shall pay an amount commensurate with the balance outstanding loan amount of the policyholder’s loan account number, as specified above.
What is Not Covered / Exclusions
Here's what is not covered in this plan.
- Consequential losses of any kind, or any actual or alleged legal liability of the policyholder
- Any loss suffered by the policyholder on account of their participation as the driver, co-driver, or passenger of a motor vehicle during motor racing or trial runs
- Curative treatments or interventions performed by the policyholder against or without medical advice
*For the complete list of exclusions, please refer to the policy wordings.
How to Apply
Click on ‘Apply Now’ button and share your basic details in the online application form
Check and confirm your application by entering the OTP received on your mobile number
Pay the premium via credit/debit card, UPI, mobile wallet, or any other available online payment mode
You will receive the details of your membership via email/WhatsApp
Claim process
You can raise a claim by reaching out to the insurer via one of the following ways:
- Insurer's E-mail - healthinsurance@adityabirlacapital.com
- Insurer's Toll-free number 1800-270-7000
Contact Us
Disclaimer - *Conditions apply. This product is offered under the Group Insurance scheme wherein Bajaj Finance Limited is the Master policyholder. Our partner Insurance Company provides the insurance coverage. Bajaj Finance Limited does not underwrite the risk. IRDAI Corporate Agency Registration Number CA0101. The benefits mentioned above and the premium amount are subject to various factors such as the age of insured, lifestyle habits, health, etc. (if applicable). BFL does NOT hold any responsibility for the issuance, quality, serviceability, maintenance, and any claims post-sale. This product provides insurance coverage under Aditya Birla Health Insurance Co. Ltd. Group Protect Policy, UIN: ADIHLGP21056V022021. Please refer to the insurer's website for Policy Wordings. Purchase of this product is purely voluntary. BFL does not compel any of its customers to purchase any third party products mandatorily.