This is what we offer with the plan
Pay only once
Cover for wide range of loan
Single / Joint / Proportionate Life Cover option
Plan provides Level and Reducing Death Benefit option
Insurance cover during moratorium period
Tax benefits under relevant sections as per prevailing tax laws
Death benefit
The amount of death benefit payable depends on the Death Benefit option and Cover Option chosen by the insured member at inception.
Maturity benefit
There is no maturity benefit under this plan.
Surrender
Surrender option is available for the Master Policyholder as well as for insured members of the scheme.
The life cover for every individual insured member acquires Surrender Value immediately on policy commencement. The insured member can surrender the policy anytime during the entire cover term.
Master policy holder may surrender the policy at any time by giving written notice at least three months or of such period as mutually agreed between the master policyholder and us. In this event the insurer shall not accept any new members. If the Master Policyholder surrenders the policy, an option to continue the cover or surrender is given to the insured members of the scheme.
Tax benefits
Tax benefits may be available on premiums paid and benefit receivable as per prevailing Income Tax Laws.
Documents
Download the documents below to learn more about the Group Credit Shield Plan II.
Get Started
This Developer Portal will provide you with the functional and technical documentation needed to integrate this plan with your business. Click on the button below to start exploring our APIs!