Shubha Griha Jeevan Beema is a product which considers both the EMI of the Bank as well as premium of Prabhu Life under one category. It is a product in which banks can provide home loan with insurance protection bundled in one package. Banks as well as customers will be both secured with this product. This is a product which provides financial return to the consumers after the pay out of the loan.
Benefits to Customers
- Customer will be secured for his/her entire loan period.
- Money back facility in a loan product.
- Average payment is not effected in case of interest rate fluctuation.
- Tax benefits on their income.
- Peace of mind thinking that the loved ones will never be homeless.
Key Features:
| Age at entry | ||
| Minimum Age | 16 Years | |
| Maximum Age | 60 Years | |
| Sum Assured | ||
| Minimum Sum Assured | 5 lakhs | |
| Maximum Sum Assured | No Limit | |
| Policy Term | ||
| Minimum Term | 10 years | |
| Maximum Term | 25 years | |
| Premium Discount on Mode of Premium Payment | ||
| Yearly Mode | 2{3eaecfa82e4f4eff8133e5df53988f0f62fa7bf878f05d2a3f199ddb687cbe0d} | |
| Half Yearly Mode | 1{3eaecfa82e4f4eff8133e5df53988f0f62fa7bf878f05d2a3f199ddb687cbe0d} | |
| Quarterly Mode | Nil | |
| Monthly Mode | 5{3eaecfa82e4f4eff8133e5df53988f0f62fa7bf878f05d2a3f199ddb687cbe0d} extra charge | |
| Sum Assured Discount | ||
| Sum Assured 800,001.00 to 10,00,000.00 | Rs 1 per thousand | |
| Sum Assured 10,00,001 and above | Rs 2 per thousand | |
| Rider Sum Assured Limit | ||
| Accidental Death Benefit (ADB) | Equal to Base Sum Assured maximum up to 50,00,000 | |
| Total Permanent Disability (TPD) | Equal to Base Sum Assured maximum up to 50,00,000 | |
| Premium Waiver Benefit (PWB) | Equal to Base Sum Assured maximum up to 50,00,000 | |
Product Launch Date:2075-01-03