Edelweiss Tokio Life – Group Credit Protection
This is a term Life Insurance product aimed to provide protection against loan repayment default due to death. UIN No: 147N002V02
Covers all types of loans
Covers all types of loans - personal, home, car, agriculture, credit card, education and any other loan.
Surrender value is payable
Surrender benefit will be available from first year onwards. A surrender value is payable as per the certificate of insurance, details of which are mentioned in sales brochure.
Tax benefits available as per current tax laws
key benefits for this product
In the event of death, the reduced sum assured as per schedule as on death will be paid.
Sum assured will reduce as per loan repayment schedule based on parameters chosen by member. The same will be mentioned in Certificate of Insurance (COI). The outstanding sum assured for the whole coverage year would be equal to the outstanding sum assured at the beginning of the year.
Surrender benefit will be available from first year onwards. For further details, please refer to the sales brochure.
No amount is payable on maturity or survival.