Access to easy credit is a convenience of modern life. Thanks to the wonders of modern finance, we can easily access loans when we need to borrow money for our personal or business and pay them back through convenient equated monthly instalments (EMIs) over a period of time. However, life is unpredictable, and an unexpected illness or hospitalisation can render you unable to pay your EMIs on time. This can have a negative impact on your creditworthiness and may even lead to a risk of default. This is why Bajaj Markets brings to you Group Care 360 EMI Protection/SIP Cover plan by Care Insurance that covers your EMIs when you are unable to pay them due to hospitalisation or illnesses.
If the insured member is hospitalised on account of injury, illness, or accident, EMIs will be covered according to the plan opted. This is dependent on the following:
Minimum duration of hospitalization should be exhausted
Benefit would be paid once in a Cover Year.
The plan details are as given in the table below.
Duration of Hospitalisation
Fee per Rs. 1000 of EMI (incl. GST)
4 to 6 days
7 to 9 days
10 days and above
The plan has a waiting period of 30 days from the date of issuance of the policy. Any claims within this period will not be covered.
For the complete list of exclusions, refer to the policy wordings.
All that is needed to apply for the Group Care 360 EMI Protection/SIP Cover insurance plan are copies of your KYC documents ( Photo ID, residence proof, etc.) and filling up a simple online application form.
Applying to the Group Care 360 EMI Protection/SIP Cover insurance plan is a simple 4-step process.
Visit our website and go to the Pocket Insurance and VAS page
Choose EMI Protection/SIP Cover insurance from the wide array of products
Fill in your details in the online form
Make an instant payment and get your plan.
Claims related to the Group Care 360 EMI Protection/SIP Cover insurance plan can be made through any of the following 2 modes:
Call on the toll-free helpline 1800-102-4488
Send an email to email@example.com
In each case kindly provide the relevant documents including your policy number.
The duly signed claim form, a registered medical practitioner’s report confirming hospitalisation, and details of your EMI payments are required for making a claim. Certain other documents may also be required in special cases.
Payment for the claim may be settled either through NEFT or through a system cheque.
The duration of the Group Care 360 EMI Protection/SIP Cover insurance plan is 1 year.