| Who is eligible? | All educational loan borrowers (Student) |
| Age at Entry | 16 - 50years |
| Maximum age at exit | 60 years |
| Sum Assured | Balance outstanding at the time of death or limit sanctioned which ever is less |
| Coverage | Cover upto Rs.15.00lakh (for studies in India)
Cover up to Rs.25.00lakh (for studies abroad) |
| Premium | One time Single Premium - Financed by Bank |
| Waiting Period | First 45days (except death due to accident) |
| By arrangement with | LIC of India |
| Period of cover | Minimum period of 3years and maximum of 12years (course period + repayment holiday + repayment period subject to maximum of 12 years)
Cover ceases at the age of 60years or on full adjustment of loan whichever is earlier |
| Medical Check Up | Required in the following cases :-
1. Loan exceeding Rs.5.00lakhs for the age group of 46 & above.
2. Loan exceeding Rs.10.00lakhs for the age group of 36 & above.
3. Loan exceeding Rs.15.00lakhs for the age group of 35 above. |
| Tax Benefit | Income tax rebate u/s 80C for the premium paid. |
