Group Credit Protection Plans

Mahindra Insurance Brokers brings a Group Credit Term Plan, which offers an insurance cover to Mahindra Finance & Mahindra Rural Housing Finance loan customers. This plan protects the customer's outstanding loan amount so that in case of unfortunate death of the customer during the loan tenure, his outstanding loan amount is secured by this insurance plan and the burden of repayment of outstanding loan amount is not on the family of the customer.

 

Group Credit Term Plan for Mahindra Finance loan customers:

  • Kotak Complete Cover Group Plan (Single Premium)
  • Kotak Credit Term Group Plan (Regular Premium)
 

Features and Benefits:

  • It is a pure death cover plan. The insurance company will repay the outstanding loan amount as on date of death to Mahindra Finance hence not putting the burden of repayment on the customer's family
  • Premium paying options - Single and Regular (Annual) premium
  • Any Mahindra Finance customer between the ages of 18 - 64 years can opt for this plan
  • Simple documentation process

The insurance company for this customized solution is Kotak Life Insurance. 

Documents to be submitted at the time of claims for Accidental Death:

  • Claim form signed by Nominee
  • Declaration & Authorisation form signed by Nominee
  • Copy of First Information Report (FIR)
  • Copy of Post Mortem Report
  • Last Attended Doctor's Certificate (in case of Hospitalisation)
  • Complete Indoor Case Papers from Hospital (in case of Hospitalisation)
  • Attested Copy of Death Certificate
  • Nominee Photo ID Proof and Relationship Proof i.e. Voter ID, Ration Card, PAN Card, Driving License etc
  • Nominee Bank Details (Cancelled Cheque + Bank Passbook Copy) showing Account No, IFSC Code, Name of Nominee printed on Bank passbook/cancelled cheque.

Important note:-

If there is any query related to documents list given above or for any other assistance, please contact your local MIBL or Mahindra Finance Executive.

Please submit above claim documents to nearest Mahindra Finance branch within 10 days of incidence for processing the claim

 

Documents to be submitted at the time of claims for Natural Death:

  • Claim form signed by Nominee
  • Declaration & Authorisation form signed by Nominee
  • Last Attended Doctor's Certificate - Specifying cause of death
  • Complete Indoor Case Papers from Hospital (Case History, Admission Papers,Treatment Papers & Death Summary)
  • Medical Questionnaire to be filled by Doctor (Refer Attachment)
  • Prior illness details (Previous medical reports Apart from Hospital Papers)
  • Attested Copy of Death Certificate
  • Nominee Photo ID Proof and Relationship Proof i.e. Voter ID, Ration Card, PAN Card, Driving License etc
  • Nominee Bank Details (Cancelled Cheque + Bank Passbook Copy) showing Account No, IFSC Code, Name of Nominee printed on Bank passbook/cancelled cheque.

Important note:-

If there is any query related to documents list given above or for any other assistance, please contact your local MIBL or Mahindra Finance Executive.

Please submit above claim documents to nearest Mahindra Finance branch within 10 days of incidence for processing the claim

Download Claim Resources:

Click here to view Medical Questionnaire

Click here to view Claim Intimation Form for Credit Term Group plan for Life

 

Group Credit Term plan for Mahindra Rural Housing Finance Loan customers:

  • HDFC Life Group Credit protection Plus Insurance Plan
  • HDFC Life Group Suraksha - Micro-Insurance Product
 

Features and Benefits:

  • It is a pure death cover plan. The insurance company will repay the outstanding loan amount as on date of death to Mahindra Rural Housing Finance, hence not putting the burden of repayment on the customer's family
  • Premium paying options - Single and Regular (Annual) premium
  • Any Mahindra Finance customer between the ages of 18 - 64 years can opt for this plan
  • Simple documentation process

The insurance company for this customized solution is HDFC Life Insurance.

 
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Group Health Insurance - Mahindra Insurance Brokers Ltd. (MIBL) brings a special Group Health Insurance Product which has been specially designed to cover the loan customers of Mahindra Finance between the age band of 18 to 65 years.

This will ensure that at times of sudden illness or serious accident or unavoidable surgery, Customers can afford suitable medical care without falling back on their hard earned savings. This, in a way, will help them to avoid financial burden.

 

Key Features & Benefits

  • Product easily available through all branches of MMFSL
  • Advantage of group rate
  • Hassle free enrollment
  • Pre Existing Diseases (PED) covered
  • No Exclusion except list of permanent exclusions
  • Cashless hospitalisation in around 4000 hospitals across India
  • Cover available from 18 years of age to 65 years without any medical test
  • 100% coverage of Surgeon/Doctor Fees
  • Ambulance expense cover - Rs.1000/- per claim
  • 30 days Pre Hospitalization expenses
  • 60 days Post Hospitalization expenses
  • Inpatient Hospitalization expenses (Minimum 24 hours of Hospitalization required)
  • Day care treatments - No need for compulsory 24 hours inpatient Hospitalization for certain procedures 

The insurance company for this customized solution is Royal Sundaram General Insurance Company Limited.

Documents to be submitted at the time of claims:

  • Claim Application Form signed by Customer - Part A (1st & 2nd page of the claim form)
  • Claim Form filled & signed by the Hospital - Part B (3rd & 4th page of the claim form)
  • Original Hospital Discharge Card
  • Original Hospital Final Bill
  • Original Hospital final bill payment receipt
  • All Medical Test Reports (Like Blood reports, Sonogrpahy report, X-ray report etc)
  • Original Doctors Prescription & Bills for Medicines Purchased
  • Cancelled Cheque + Bank Passbook Copy mentioning IFSC CODE

Important Permanent Exclusions, which will not be covered under this plan:

  • Dental treatments unless requiring hospitalization
  • Cosmetic, aesthetic related treatment unless medically necessary due to accident
  • Nuclear, Biological, Chemical Terrorism
  • Hormone replacement therapy
  • Treatment received outside India
  • Use of intoxicating drugs, alcohol, solvent abuse, drug abuse
  • Pregnancy and its complications
  • Outpatient treatment charges
  • Any conditions associated with AIDS
  • Treatment of obesity
  • Any form of local medication such as Ayurveda, Homeopathy or Naturopathy
  • Whilst engaged in hazardous sports such as racing, bungee jumping, mountain or rock climbing etc

 

Download Claim Resources:

Click here to view Claim Intimation form for Group Health Insurance

 
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