SICOM

LoanProtectionScheme

Group Loan Protection Scheme

As a responsible employer, you have the responsibility to safeguard your company against liability exposure and also to empower employees to ensure their family’s dreams are protected and are liability free in case of unfortunate events.

About this product

SICOM Group Loan Protection Scheme (GLPS) insures all personal loans, car loans and other loans provided by an Employer or an Organisation to their employees or members.

Highlighted features
  • Loan Protection

    Insures all personal loans, car loans and other loans provided by the employer

  • Premium

    Premium is fixed and calculated on the initial amount of loan

  • Loan Duration

    Insurance is applicable for loan duration of not more than 7 years

Product Features

Choose SICOM Group Loan Protection Scheme & benefit from:

  • Sum Assured

    The Sum Insured in respect of a life assured is the amount equivalent to the sum total of the capital loan outstanding within the repayment term. The maximum sum assured is Rs 2 M

  • Premium

    Premium is fixed and calculated on the initial amount of loan

  • Loan Duration

    Insurance is applicable for loan duration of not more than 7 years

  • Life Assurance Cover

    Cover ends on repayment of loan or reimbursement in case of anticipated repayment. The cover is provided on Death or Total Permanent Disablemen

  • Loan Capital

    The capital loan outstanding as at date of death or total and permanent disablement is payable to the Employer or Organisation

  • Withdrawal

    No benefit is payable upon withdrawal from the scheme

( Terms and conditions apply)*

Useful Information

Any company or any group association
Minimum age is 18 yrs and maximum age 65

Option Form or membership form filled by member/employee with details on Loans amount, Date of birth and Gender.

Highlighted features
  • Loan Protection

    Insures all personal loans, car loans and other loans provided by the employer

  • Premium

    Premium is fixed and calculated on the initial amount of loan

  • Loan Duration

    Insurance is applicable for loan duration of not more than 7 years

Request more information

Please verify the captcha

Submit

This product is offered by: State Insurance Company Of Mauritius Ltd

BRN:C07007065

FSC License No: IS10000020