ICICI Lombard GIC Ltd

Product propositions for MoneyView
Date: June 5th, 2020

Group Safeguard insurance

Section A: Accidental injury benefits

A.1.1 Death and disability related benefit
Benefit Cover Benefit Amount Sum Insured
A1.1 Death benefit 100% of Sum Insured SAs per loan amount
A1.2 Permanent Total Disablement 100% of Sum Insured
A1.3 Permanent partial disablement As per disability grid
A1.9 Loan protection benefit Up to the principal outstanding amount

Loan tenure 1 year 2 year 3 year 4 year 5 year
Tenure wise rate inclusive of GST 1.18% 1.48% 1.77% 2.07% 2.36%

For Section A: Accidental injury benefits

  1. Lump sum payout of sum insured to nominee or insured as the case maybe for the covered event solely due to accidental injuries

  2. Accidental injuries should have occurred during the period of insurance

  3. Death or permanent total disablement following injury sustained from such accident should occur within 365 days from the date of accident

  4. If Injuries results in more than one Permanent Total Disablements, the maximum, liability under this Benefit shall be limited to the Sum Insured.

  5. On the acceptance of a claim under any Benefit, all covers under this Benefit shall immediately and automatically cease

Section E: Hospital daily cash benefit

Benefit for 5 days Sum Insured per year (Rs) Policy tenure wise premium inclusive of GST
1 2 3 4 5
Rs. 500 per day 2,500 70 140 210 280 350

Section E: For Hospital Daily Cash benefit-

  1. A minimum of 5 days of Hospitalization is necessary for the benefit to be triggered

  2. Initial 30 days waiting period is applicable for cases except hospitalisation due to accidental injuries

  3. Pre-Existing Disease/s waiting period of 24 months is waived off

  4. Specific waiting period of 24 months is waived off

Important terms and conditions:

  1. Eligibility: Customers of Group administrator aged between 18 – 65 years only. Ages less than 18 and above 65 years are not eligible for the cover

  2. Kindly note that the insured should be the direct customers of the group administrator

  3. Policy can be issued on individual basis only

  4. For further details on the Terms & Conditions and claim process, kindly refer respective Policy Wordings


Apply for personal loan

Green Tick Success

Thank you for your interest!

We will reach out to you shortly