CreditAccess Life - Samunnati Suraksha

About the product

CreditAccess Samunnati Suraksha (Micro-Insurance Product) is a Non-linked Non-Participating Group Term product with Return of Premium. It is a product designed for the farmers and low-income population of India, which will be sold through groups like Farmer Producer Organisations (FPOs), Cooperatives, small business merchants, and Self-Help Groups in rural areas, who are located pan India.

Key Features

• Death Benefit: Upon the death of the insured member during the policy term, the Sum Assured will be paid to the nominee.
• Maturity Benefit: At the time of cover end 50% of the premium will be as Maturity benefit

Eligibility

Terms and Conditions

• Freelook period: In case the Insured doesn’t agree with any of the terms and conditions of the policy, insured can cancel the policy within 30days from the time receipt of policy document.
• Surrender Benefit: Surrender benefit will be calculated as follows
Single Premium *
90 % * [
Outstanding Policy term in years
Policy term
]
• Assignment: The insured has right to assign the policy in accordance with Section 38 of the Insurance Act, 1938 and amended from time to time.
• Nomination: Insured can nominate a person / persons to whom the death benefit will be payable.

In case of any Query, Complaint or Grievances, please follow the process as provided on Complaints & Grievances

Contact us at:

CreditAccess Life Insurance Limited

IRDAI Registration No. 163. CIN - U66020KA2019PLC120540

#595, 1st Floor, 15th Cross,1st Phase, Outer Ring Road, J.P. Nagar, Bengaluru, Karnataka, India – 560078

Email – service@calife.in

Telephone number – 080-6997 8070