Shiksha Suraksha
 
Shiksha Suraksha is a group life insurance term plan which caters to the needs of education loan borrowers.

Under the insurance arrangement bank is the master policy holder for group insurance plan. It provides insurance cover to the people between 18-59 years of age who has taken the loan from Bank.

The coverage tenure under this plan can be minimum 1 year and maximum of 15 years. Coverage under the plan ceases on expiry of the term of loan or borrowers attaining 61st birthday.

Sum assured for the product is outstanding loan amount during which the event occurs subject to the minimum sum assured of 100000 and maximum of 2500000.

Sum assured and interest accrued during study or moratorium is paid to master policy holder in event of death. Surrender value is payable if loan is fully repaid before the end of term. Nomination is compulsory for this plan.
 

Disclaimer
 
For more details about the product and its features, please read the sales brochure carefully.
UIN for SUD Life Shiksha Suraksha Plan Plan - 142N007V01