• Loan Recovery for Lenders: Banks, financial institutions, or microfinance organizations will receive the repayment of the loan if the borrower passes away or suffers from total permanent disability due to an unexpected event.

• Protection for Bereaved Families: In the event of the borrower’s death or total permanent disability, the surviving family members do not need to worry about continuing payments for assets purchased on installment.

• Tax Advantages: Policyholders are entitled to income tax relief on the premiums paid.

Exclusions (Non-Payable Conditions)

If the insured person dies or suffers from permanent disability due to any of the following reasons, the insurance benefits will not be granted. In such cases, only the paid premium will be refunded:

• • Intentional Self-Harm: Injuries caused by a deliberate act to harm oneself.

  • Suicide: Death resulting from suicide.

  • Drug Use: Incidents occurring due to the use of narcotics or illicit drugs.

  • Dangerous Medication: Incidents resulting from the consumption of harmful drugs or substances.

  • Criminal Acts: Incidents occurring as a result of the insured committing a crime.

  • Pre-existing Conditions: Death or disability resulting from a pre-existing medical condition that was concealed or withheld at the time of purchase.