The Group mortgage Insurance schemes are designed to provide protection to the banks/Company’s borrower against the death of such persons who have procured Mortgage loans under the banks/Company’s Mortgage Loan Scheme. Upon the death of an insured NJLI will pay to the bank/Company the outstanding loan amount. This scheme is available in a variety of options, as follows:

In the loan insurance schemes, in case of death/disability of a borrower, NJLI will pay to the bank the outstanding loan balance, these schemes are suitable for small loan balance protection such as personal loans, car loans etc. The unique feature of this scheme is no underwriting requirements.

This scheme is designed for the depositors of the bank. Incase of death of a depositor, NJLI will pay the amount equivalent or twice the account balance to the account holder of the bank. This scheme can be utilized by the bank as the customer loyalty program.

Credit Shield is a Scheme designed to financially aid the cardholder of the bank. NJI Life will take care of the balance of the cardholder and pay to the bank his/her outstanding balance in case of his death/disability , for this convenience the cardholder will pay a premium every month which will be deducted at the closing amount on the monthly payment. Available exclusively to all basic card members of the bank under 60 years of age, cover will continue until 65 years of age.

In case of death of an insured, this benefit pays an amount equal to or in multiples of outstanding Provident Fund balance.

In the event of death of an insured, this benefit provides continuation of monthly salary from the date of death to the date of retirement or up to a specified time period.