IDLC now provides complete protection to its home loan borrowers. Now home loans borrowers of IDLC can avail life insurance coverage equivalent to the amount of the outstanding home loan.

Home Loan Shield is a specially designed Group Life Insurance Scheme, which protects your family in your unfortunate death. The shield takes over the outstanding principal amount of your home loan with IDLC thus protecting your beloved family from burden of repayment.

BENEFITS

• Borrower's family is secured from loan burden at the unfortunate death of main earner of the family
• Lowest possible single premium
• Hassle free coverage merely on declaration (up to certain age limit)
• Free of cost medical examination from recognized hospitals (cost will be borne by the borrower only when application is turn down by the insurer)
• Proportion return of premium for early loan foreclosure
• Financing of the premium is also available (IDLC will provide, if required)
• Income Tax relief on premium payment

SALIENT FEATURES

• IDLC will be the master policyholder of the Group Life Insurance and you will get a certificate as a member of the scheme.
• Upfront single insurance premium is fixed based on borrower's age, loan tenure and outstanding principal amount.
• The insurance coverage ranges from Taka 200,000/- to Taka 10,000,000/-.
• Insurance coverage of Tk. 1,000,000/- and Tk. 750,000/- will be granted merely on declaration of your good health when your age is between 20-40 and 41-45 respectively. Except for above, medical examination is required.
• Borrower gets minimum 50% to maximum 100% of the home loan coverage under the scheme.
• This coverage will be on a single borrower only. In case of joint loan, the main income earner can become a member of the scheme.
• The insurance coverage will start from the very first day of loan disbursement.
• This scheme is open to all IDLC home loan customers between the ages of 20 to 55 years. The maximum age at maturity should not exceed 60 years.

HOW TO APPLY

Just complete the "Insurance Application Form" (attached with Home Loan Application Form) and hand it over to the dealing officer at IDLC's any branch from where you are taking your loan along with a copy of your age proof.

HOW TO CLAIM

In the event of your unfortunate demise, your nominee will have to:

• Inform us within 7 days of the event
• Provide us with information and/ or documentation to establish the fact, date, circumstances relating to and cause of the event
• Co-operate with and assist IDLC in any investigation undertaken by the insurance company
• Provide evidence in support of the claim at the request of IDLC