Parameters Minimum Maximum
Group Size (per policy) 20 No limit
Policy Term 
Single Pay 2 30
Limited Pay 8
Payment Term 
Single Pay Single
Limited Pay 5 (2/3rd of Policy Term) 20 (2/3rd of Policy Term)
Age at Entry (years) 14 65
Age at Maturity 
Single Pay 16 70
Limited Pay 22
Sum Assured Home Loan 1,00,000 No limit
Other Loans 10,000
Premium Frequency Limited Monthly/Quarterly/ Semi-Annually/ Annual
Single Single


What are the benefits under the plan?

Maturity Benefit

No amount is payable on maturity

1) Reducing Cover - The death benefit will be as per the monthly loan schedule stated at inception of the member contract. The applicable Sum Assured as at the end of the policy month immediately preceding the date of death of the member as per this loan schedule at inception will be paid

2) Level Cover (for interest only loans T&C 6 )– In case of level cover option the full Sum Assured opted for at inception will be paid

Please note that the death benefit is payable to the nominee / legal heir of the individual group member.

Cover for Co-borrower 
The plan provides an option to include one co-borrower for the same Sum Assured on first death basis by paying additional premium. On death of any one member covered under the policy, the cover for the surviving member ceases immediately after death claim payment. The borrower and co-borrower to be covered under the policy shall be the person with highest and second highest proportion of loan. The co-borrower cover is not extended to the guarantor of the loan.


For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Reliance Group Credit Assure Plan: 121N095V01

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