Heart is where the home is and so, it is among our most prized possessions. But with the many uncertainties that we are faced with in life, we would want to secure it by preparing for the unexpected. We at ICICI Lombard General Insurance Co. Ltd, understand these apprehensions and hence, present to you Home Safe+ to relieve you of the insecurities that your Home Loan responsibility may be causing you.
In Simple Terms:-
We insure your Home Loan. In case Of Unfortunate death , Accident , Total Permanent Disability arising out of accident or Incase of Detection of any of the following Critical illnesses
1. Cancer
2. Myocardial Infarction (Heart Attack)
3. Major Organ Transplant
4. Paralysis
5. Multiple Sclerosis
6. Coronary Artery By Pass Surgery
7. Kidney Failure (End Stage Renal Failure)
8. Stroke
9. Heart Valve Replacement Surgery
In Addition to the above , We also payoff your Home Loans If you lose your job in Below Given Scenarios
(a) Employer rules and regulations (Example, closure of a division or a department on account of poor financial health); or
(b) Action of any Public Authority leading to closure of the employer firm; or
(c) Termination from employment due to illness.
(For salaried employees only and Maximum Liability of the Company - 3 EMI’s)
Secondly, We Cover The following Risks too
Fire and Special Perils
Covers losses to the structure of the house and the contents due to any natural and man- made calamities.
The calamities covered are fire, earthquake, lightning, floods, explosion/implosion, resultant damage from explosion of gas cylinder, spread of fire due to electric short circuit, riot, strike, malicious damage, aircraft/impact damage, storm, cyclone, flood,
inundation, subsidence, landslide, bursting/overflowing of overhead tanks/pipes, missile testing operations, leakage from automatic sprinklers, etc.
Burglary
· Loss of contents due to burglary or attempted burglary
· Loss of jewellery, gold ornaments, silver articles and precious stones kept under lock and key
Conditions / Risks / General Points
· In the unfortunate event of your Death or Permanent Total Disablement on account of an Accident, resulting in your inability to remain gainfully employed, the sum insured opted for at the time of the policy is paid off.
· In case you contract any of the major medical illness & procedures covered under this
- Policy, then ICICI Lombard will pay the Sum insured at the time of availing of the Policy.
· If you lose your job on account of causes listed in the Policy then ICICI Lombard will pay the
- EMI due on the loan till you can find an alternative job (subject to a maximum of 3 EMI’s).
· The structure of your home is covered on a 'Reinstatement Value' basis, which is the cost of rebuilding your home with a similar new construction.
· It does not cover the market value of your home, as the value of the land is included in market value and land cannot be insured because it is indestructible.
· If an unfortunate incident does take place, you would be compensated for to the amount of constructing a new house of a similar new construction.
· The contents are covered on a 'Market value' basis. i.e. the cost of buying a similar new item, after deducting appropriate depreciation on the basis of the age. This includes appliances, furniture, personal effects, utensils and miscellaneous items.
· For being a valued ICICI Bank customer, ICICI Lombard has arrived at special rates for you for this Policy.
· Simple Health declaration required. No medical check-up required.
· Easy Claim Settlement with minimal documentation Multiple applicants of the loan can be covered under the policy
Premium :
The premium for Home Safe+ Product depends on the applicant's age, loan amount, loan tenure, sum insured and applicant’s occupation and is payable in accordance with arrangements with ICICI Bank.
Name : Binoy Momaya
Phone : +91 9739864103
Office : +91 836 2351505 ( 9:00 Hrs to 17:00 Hours )
Fax : +91 836 2251505
Email : binoy.momaya@gmail.com
