This unique insurance policy with three great benefits for the
Microfinance sector has now been launched. This policy will provide
Property cover, Mortgage Protection cover and Life cover to borrowers
who obtain micro-finance loan facilities from banks and other recognized
lending institutions. The summary of insurance covers are as follows.
Property Cover
Fire hazards Fire, Lightning, Explosion, Natural hazards Flood,
Storm, Tempest, Cyclone, Earthquake & Tsunami Political hazards Riot,
Strike, Malicious Damage, Terrorism
Mortgage Protection Cover
Outstanding loan capital will be paid to the bank/ lending
institution in the event of death of the Assured (whether natural or
accidental) or in the event of total and permanent disability due to
sickness or accident of the Assured.
Life Cover
Sum Assured will be paid to the legal dependents in the event of
death (whether natural or accidental) of the life Assured.