CreditAccess Life - Suraksha Bharosa Sukshm

About the product

CreditAccess Life - Suraksha Bharosa Sukshm (Micro-Insurance Product) is a Non-linked, Non-Participating Group Term Product with 'Return of Premium' as per agreement, based on Policy Term. The target customer segment for the product is consumers looking for short term protection. The product will be sold on the group platform through groups like cooperatives, FPOs, SHG federations, or through trusted intermediaries.

Key Features

• Death Benefit : Upon death of the insured member during the policy term, Sum Assured, will be paid to the nominee.
• Maturity Benefit : Upon maturity of the policy, chosen percentage (%) of premium will be returned to the member on survival.

Eligibility

Terms and Conditions

• 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
• Freelook period : The Insured has the option to cancel the policy within 30 days of receiving the policy document if they find the terms and conditions unsatisfactory and receive a full refund.
• Nomination : Insured can nominate a person / persons to whom the death benefit will be payable.
• Suicide : If the member commits suicide for any reason, while sane or insane, within one year from the risk commencement date, the sum assured on death will be payable.
• Surrender : Surrender Benefit will be calculated as -> 90% of premium paid * remaining policy term in months / original policy term in months.

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 : +91 80 6997 8070