Credit Insurance

Credit Life with accidental death “SafetyNet” for Card Holders. This is a very attractive and comprehensive Group Insurance Plan. This insurance comprehensively covers the entire dues on the Credit Card in the unfortunate event of death or permanent disability of the primary cardholder.

Safetynet Insurance Plan

For the Credit Card Holders

This Safetynet Insurance coverage provides Death Coverage against card holder’s outstanding amount/balance, such as Normal Death, Accidental Death and Permanent Total Disability to the Credit Card Holder’s beneficiary as a financial support after his/her unfortunate death.   

Terms & Conditions:

Eligibility to join: All Card Holders who are in good health can join the scheme.

Minimum Age Limit:              Minimum age at entry will be 18 years

Maximum age at entry will be 60 years

Maximum Age Limit:             65 years

Contract period: Initially the contract period will be 3 years and thereafter may be extended for further period (s) on mutual agreement.

Normal Death: In case of normal death of a Cardholder’s beneficiary will get an outstanding balance along with life coverage stated in the Table of Benefit except HIV, Pre-existing diseases and attempted suicide or intentionally self-inflected injury while sane or insane (enrollment during first year),

Supplementary Coverage:

a. Death due to accident:

In case of Accidental Death of a Cardholder, we also provide this coverage for a Cardholder’s beneficiary due to accidental death. In that case, Insurance company will pay the outstanding balance along with life coverage as stated in the Table of Benefit.

b. Permanent Total Disability Benefit:

In case of permanent and total disability resulting from bodily caused directly by accident which prevents an insured member from engaging in any business, occupation or work whatsoever for remuneration or profit and which disability has continued uninterruptedly for a period of at least six months and has been certified to be incurable by a physician approved by the company, then subject to provisions of this contract, the company shall pay the outstanding amount along with life coverage to his/her beneficiary as stated in the Table of Benefit.

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