Credit Protect Plan (18-60 years)

What is the Credit Protect Plan?

Defaulting on loan repayments can land you in a vicious cycle. As the credit keeps piling up, the financial, as well as the mental stress, keeps increasing. To ensure that this does not happen, plan a budget and stick to it. However, there may be unexpected situations where you may be forced to spend on unplanned things, such as accidents, and thus be unable to make repayment.

 

Group Protect - Credit Protect 18-60 years from Aditya Birla Health Insurance Co. Ltd. offers coverage to assist those in need of loan repayment if an accident causes a total and permanent disability or death. Now, you and your family can pay any outstanding loans, regardless of the challenging times or any mishaps. You only have to pay Rs. 69/year in premium to get coverage benefits of Rs. 1 lakh. Let us learn everything that is covered in this policy and the steps you can take to purchase the plan. 

Credit Protect Plan Membership information will be sent to you via email or Whatsapp.

Eligibility criteria

To get this plan, the following criteria must be met:

 

• You can take the plan if you are aged between 18 and 60 years, as on the date of your last birthday. 

• A current loan is required as of the application date. 

Please note:

The Credit Protect Plan has a fixed payout basis. You are paid the outstanding balance from the loan amount.

Policy Plan Details & Specifications

Here are the specifications of the Credit Protect Plan that you must know:

• Coverage 

The maximum coverage amounts to Rs. 1 lakh under the Credit Protect Plan.

• Validity

The Credit Protect Plan is valid for a tenor of one year.

What’s not Covered under the Credit Protect Plan?

Listed below are the expenses and causes for which you will not be covered under the Credit Protect Plan:

• Indirect costs

If you suffer indirect costs, whether financial or otherwise or face legal responsibility, your claim will not be approved. 

• Loss due to motor vehicles 

If you have suffered any loss when you have participated as the motor vehicle’s passenger, driver, or co-driver, in motorsports or during practice sessions, no coverage will be given.

• Not following the given advice

If you have spent money on corrective measures despite not following medical advice, you will not be covered.

How to make a claim?

All of the following methods of contacting the customer service team will suffice to file a claim under this policy:

• Call

You can file a claim by calling on the toll-free number 1800-270-7000. Your claim will be registered by the representative. 

• Email

You can send an email to healthinsurance@adityabirlacapital.com mentioning your policy number and other relevant details.

Customer care details

If you have any queries regarding the Credit Protect Plan policy, Just email us at insuranceconnect@bajajfinservmarkets.in and quickly get all your queries and doubts resolved. Our team is always at your service.