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.
|Age at entry|
|Minimum Age||16 Years|
|Maximum Age||60 Years|
|Minimum Sum Assured||5 lakhs|
|Maximum Sum Assured||No Limit|
|Minimum Term||10 years|
|Maximum Term||25 years|
|Premium Discount on Mode of Premium Payment|
|Half Yearly Mode||1%|
|Monthly Mode||5% 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