Loan Protection Policy

- dont lose your lending urge

In this policy, BEIGE Assurepays the creditor the outstanding loan balance in case of insured-debtor's death or disability

General Conditions

Eligibility: All borrowers under all Loan Schemes shall be eligible for coverage under this policy on a non-medical basis provided that at the date of application;



• The borrower is between 18-65 years of age as of the date of enrollment and meets the requirements to take a loan.
  
  

Effective Date of Assurance

• The effective date of the assurance on any loan beneficiary shall be the date of loan disbursement.
  
  

Period of Assurance

• The period of assurance will run concurrently with the stipulated period for the repayment of the loan but not more than One Year (12 months). Loans with a tenure of more than 12 months shall be renewed with the Policyholder providing details to BEIGE AssureAssurance.
  
  

Payment of Benefits

• BEIGE Assurewill pay any benefit within seventy two hours (3 working days) upon receipt of all the relevant claims documents.
  
  

Termination of Assurance

• BEIGE Assureor the Policyholder may terminate this policy by providing 90 days’ written notice of termination. All active policies as of the date of termination shall remain in force through the end of the month for which premiums have been paid and received by the Company.