Secure Mind Insurance

This insurance pays the outstanding loan to a Bank or Financial Institution in case of the insured borrower's death, permanent total disability, involuntary employment, or any of the 18 listed critical illnesses. Secure Mind Insurance is aimed at mitigating lenders' losses due to borrower defaults caused by circumstances beyond their control.

Secure Mind Insurance covers protecting the lenders' interest against any default in repayment of loans by borrowers due to the following reasons:

• Death
• Permanent Total Disablement
• 18 Critical Illness
• Involuntary Unemployment

The claim is admissible on reducing the loan amount on the date of the claim event.

Exclusions                                

• Pre-existing diseases
• Any Critical Illness discovered within 90 days of the inception of the policy
• Intentional self-injury, Suicide
• Use/Misuse of liquor/drugs
• Pregnancy and childbirth
• War, riot, strike, terrorism acts, etc.

Issued Date: 2011-10-18