What is a Loan Protection Insurance Policy?
A Loan care policy, also known as a loan protection policy, covers your loan repayment in tough times. Loans are supposed to make life easier for you, but when something affects your ability to repay, they can feel really scary. With this loan protection insurance policy, we make sure that the loans you take don’t end up being a burden on your family.
Who should you buy a Loan Protection Insurance Policy?
If you’re looking for peace of mind after taking a loan, this policy is for you. Loan protection insurance is designed to help you by providing financial support in tough times. Whether the issue you face is disability or unemployment, this policy can help cover monthly loan repayments, and make sure you don’t default.
What does Zuno Loan Care Insurance cover you against?
Critical illness
No disease should be foolish enough to take you on. But if one does, our cover will take care of your finances so that you can focus on knocking your illness out of the ring!
Personal Accident
You never know what's waiting around the corner. You may find a pleasant surprise, or a nasty one that completely throws you off guard. Either way, it's a good idea to have a backup plan ready to ease your family's stress during unpleasant times.
Job Loss
We all love leisure time, except when we aren’t paid for it. If you ever find yourself out of a job for a while, you won’t need to worry about any piled-up EMIs.
Children’s Education
A break in your income needn’t become a break between your children and their bright future. In case of your accidental death, we will cover the fees paid to the educational institute, or the maximum amount mentioned in the policy, whichever is less.
Why should you buy a Loan Protection Insurance Policy?
We hope that you always enjoy good health, and live a long and productive life. But hey, life comes with no guarantees. Unfortunately, loans do – the guarantee that you have to repay them, no matter what. If something happens to you and there’s an unpaid loan, our Loan care policy will cover you and your family.
Which loans does Zuno Loan Care Insurance cover?
Home Loans
To buy your dream house or even construct it
Education Loans
For your children’s higher education
Personal Loans
To meet life’s big and not-so-big expenses
Vehicle Loans
Used to buy your beloved car
What does Zuno Loan Care Insurance give you?
A lump sum payment on diagnosis of a Critical Illness, as per the terms and conditions.
Death due to an Accident, Permanent Total/Partial Disability due to an accident.
3 months’ EMI if you lose your job.
The Child Education benefit pays you extra to cover your children’s fees through this period.
What does Zuno Loan Care Insurance not cover?
Any illness, sickness, or disease not specified as a critical illness under this policy, like
• Congenital anomalies (birth and metabolic disorders)
• Committing a breach of law with criminal intent
• Engagement in dangerous and/or hazardous activities
• Intentional self-injury
• Pregnancy-related complications, except in the case of ectopic pregnancy• Taking part in adventure sports like mountaineering, rock climbing, skydiving, etc.
• Committing a breach of law with criminal intent
• Intentional self-injury
• Natural death• Loss of job attributed to dishonesty or fraud
• Casual, temporary or seasonal employment
• Resignation or retirement
• Self-employmentDependent child education benefits cover - payment of compensation in respect of death resulting directly or indirectly from any illness to the insured
Why buy from us?
Zuno – with you every step of the way
Timely assistance
Get in touch with us 24x7 on our toll-free number 1800 12000
Paperless process
Go green and paper-free with our 100% online policy issuance
Hassle-free claim settlements
Zuno settles claims as quickly as possible with minimal paperwork.
Claiming with Zuno Loan Care Insurance is easy!
Call us on
Toll free -1800 12000
Paid landline - 022 423 12000
Or email us at support@hizuno.com to let us know the details of your claim
Email us the scanned documents at support@hizuno.com and we’ll get the ball rolling right away (do remember to mail us the originals.
Mail your claim documents to Claims Department – Zuno General Insurance Limited, 2nd Floor, Tower 3, Kohinoor City Mall, Kohinoor City, Kirol Road, Mumbai, Maharashtra – 400070.
Our in-house Claims Team will sort everything out and keep you updated.
Making sense of common insurance jargon
Accident
A sudden, unpredictable and unavoidable event, caused by external, visible and violent means.
Permanent Total Disability
A bodily injury that totally and incurably prevents you from taking part in any kind of occupation.
Critical Illness
These are life-threatening diseases such as cancer, heart attack, kidney failure, etc. The Critical Illness cover gives you a lump sum amount that can be used to pay higher medical expenses.
Other important points of Loan Care Insurance
You can take this policy if you’re at least 20 years old, and at most 65 years old (at first disbursal/premium payment).
The policy can be issued for 1, 2, 3, 4 and 5 years. However, you can renew the policy (as long as the loan continues) by payment of additional premiums.
FAQs
Is Zuno Loan Care Insurance for me? What’s the claims process like?
If you're an Indian national who has taken loans, and are aged between 20 and 65 years, this policy is definitely for you!
Our in-house Claims Team handles claims. For more information, please call us on
Toll free - 1800 12000
Paid landline - 022 423 12000
Or email us at support@hizuno.com to let us know the details of your claim
Which critical illness are covered by Zuno Loan Care Insurance?
We've tried to cover all the bases. There are various plans that cover different critical illnesses. While our Standard plan covers 9 critical illnesses, our Ultima plan takes care of 25 different critical illnesses.
How long will the loan protection policy last?
This depends entirely on you! Some policies only last for a year, while others last 5 years. Depending on your loan tenure, you can renew it every 5 years up to the age of 65.
Does the policy period depend on the loan period?
Yes, it does. The start and end dates of the policy should fall within the loan period, subject to the maximum policy period of 5 years. To put it simply, you can take a 3-year policy if your loan period is 5 years, but you can't take a 5-year policy if your loan period is 3 years.
What is the waiting period?
In case of an accident, there is no waiting period. But you will have to wait 90 days before you can claim for any critical illness. In case of a pre-existing condition, there is a waiting period of 36 months.
When will the loan protection policy end?
The policy will cease to exist if a claim is paid under:
- Major Medical Illness
- Personal Accident resulting in Death
- Permanent Total Disability
And no further payment will be due to you.
The policy will be cancelled if the details disclosed about your current and past health status are incorrect, or if you have encouraged/been part of a fraudulent claim under the policy.
What kind of information do I have to give while claiming?
We'd like you to disclose all pre-existing diseases or medical conditions before buying the policy. You must also tell us about any changes in your health, occupation, or contact details during the policy period.
What will I get in case of Permanent Partial Disability?
You will be entitled to 50% of the sum assured, depending on the injury.
Are migration and portability facilities available for this policy?
Yes, these facilities are available.
Do you have any flexible payment options available?
Yes, we definitely do!