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My Life Insurance - Smart Loan Cover
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.
Here's what you can expect
Features
Premium
- Premium is paid either monthly, quarterly, half yearly, yearly or single over the full term of the policy
- Premium is based on age, term and sum assured
- 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
(Terms and conditions apply)
Request more information
This product is offered by
State Insurance Company Of Mauritius Ltd
BRN: C07007065
FSC License No.: IS10000020
Useful info
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 death
+
- Refund of all premiums paid up to the date of death
Optional Supplementary Benefits:
- Total and permanent disability & Health Care Cover - The same benefits are paid as in case of death
Health Care Cover*
On diagnosis of any one of the following specific illnesses:
- Heart Attack
- Coronary Artery Bypass Graft (CABG)
- Stroke
- Cancer
- Kidney Failure
- Major Organ Transplant
- Paraplegia, Quadriplegia, Diplegia, Hemiplegia and Tetraplegia
- Blindness
- Major Burns
- Cardiac Valve Surgery
- Pulmonary Artery Hypertension
- Coma
- Brain Damage
PLUS
Special Cover for Angioplasty with varying terms of payment. (Please contact us for more details)
(*Terms & Conditions Apply)
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 (Less than 3 months old)
- Letter of Offer for Loan
- Birth certificate
- Marriage Certificate (if applicable)
- Bank details for payment of premium
