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SICOM Smart Loan Cover

SICOM Smart Loan Cover

SICOM Smart Loan Cover - July 2016

Product Details Description
Product Name SICOM Smart Loan Cover
Description

SICOM Smart Loan Cover is a simple, innovative but very comprehensive life assurance policy. 

It is the ideal solution which goes the extra mile to secure new and existing loans, mortgages, overdrafts and other credit facilities in case of premature death or total and permanent disability.

SICOM Smart Loan Cover - July 2016

Click here to download the brochure

Features

PREMIUM

  • Premium is based on age, term and sum assured
  • Premium is paid either monthly, half yearly, quarterly or yearly over the full term of the policy
  • Policy can be contracted individually or Jointly

 
SUM ASSURED

  • The sum assured decreases over the duration of the policy

 
TERM

  • Term : 5 to 30 years
  • Age at entry should not exceed 65 years
  • Age next birthday plus term should not exceed 75 years

 

Benefits In case of death the following benefits are paid out to the beneficiary (surviving spouse or nominated beneficiary/ries).:

Mortgage Protection – Refund of the outstanding capital balance of the loan (excluding arrears) as at date of the claim

Plus

Refund of all premiums paid up to the date of the claim
Optional Supplementary Benefits

Total and permanent disability & Healthcare Cover - The same benefits are paid as in case of death

 

Eligibility
  • Age at entry should not exceed 65 years
  • Age next birthday plus term should not exceed 75 years
Required documents
  • National Identity Card
  • Recent Utility Bill(not more than 3 months old)
  • Letter of Offer for Loan
  • Birth certificate
  • Marriage Certificate (if applicable)
  • Bank details for payment of premium
  • Sanction Letter from a financial institution
For more details Call us on 203 8401 or email us at lifequotation@sicom.intnet.mu and we shall guide you through the application process 

*Terms & Conditions Apply