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.



  • 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 : 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)

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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



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