Shikhar Insurance Company Ltd. (SICL) is an established General Insurance Company promoted by a young team of reputed Industrial and Business Houses involved in various fields like Aviation, Banking, Manufacturing, Trading, Travel Trade, Media Houses etc.
This insurance pays the outstanding loan to Bank or Financial Institution in case of Death, Permanent Total Disablement, involuntary employment and 18 listed critical Illness of the insured borrower. Secure Mind Insurance is aimed at mitigating losses of lender due to borrower defaults caused on account of circumstances beyond their control.
Secure Mind Insurance covers for protecting the lenders interest against any default in repayment of loans by borrowers due to the following reasons:
The claim is admissible on reducing loan amount on date of claim event.
Shikhar Insurance Company Ltd. introduced this policy on 18th October, 2011.