Insurance Protection to Borrowers
The Company has tied up with National Insurance Company Limited for its comprehensive insurance cover product called “NATIONAL INSURANCE SAHARA HOME LOAN SURAKSHA BIMA” which covers the borrowers of the Company against the following risks / perils / natural calamities:
The other details regarding the product (e.g. Sum insured, premium payable etc.) are explained to the borrowers during personal discussion with them at the time of credit appraisal.
- PERSONAL ACCIDENT INSURANCE:
- Death due to accident;
- Accidental loss of two limbs, two eyes or one limb and one eye;
- Permanent total disablement from injuries other than named above.
- PROPERTY INSURANCE:
- Riot, Strike and Malicious damage
- Explosion / Implosion
- Aircraft damage, Impact damage
- Subsidence and Landslide including Rock Slide
- Bursting or Overflowing of Water Tanks & Pipes, Missile testing operations
- Leakage from Automatic Sprinkler Installations, Bush Fire.
- Other natural calamities.