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Group Insurance 367 views May 27, 2021
Liberty Secure Future Connect Group Policy provides financial protection against critical illness, personal accident and involuntary loss of job. This policy is available to people who have borrowed any type of loan from a bank or NBFC. Read this page further to know more about the coverage available under the Liberty Secure Future Connect Group Policy.
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Table of Contents
- 1 Liberty Secure Future Connect Group Policy Critical Illness Cover
- 2 Liberty Secure Future Connect Group Policy Personal Accident Cover
- 3 Liberty Secure Future Connect Group Policy Involuntary Loss of Job Cover
- 4 Liberty Secure Future Connect Group Policy Optional Covers
- 5 General Exclusions from Liberty Secure Future Connect Group Policy
- 6 Terms & Conditions of Liberty Secure Future Connect Group Policy
Liberty Secure Future Connect Group Policy Critical Illness Cover
You’ll get coverage against the following critical illnesses under this plan as per your chosen option –
| Option A | Option B | Option C | Option D | Option E |
|---|---|---|---|---|
| Cancer of Specified Severity | Coma of Specified Severity. | Primary Pulmonary Arterial Hypertension | End Stage Liver Disease | End Stage Liver Disease |
| First Heart Attack of Specified Severity | Motor Neurone Disease with Permanent Symptoms | Pulmonary Artery Graft Surgery | Surgery of Aorta | Surgery of Aorta |
| Open Chest CABG | Cancer of Specified Severity | Muscular Dystrophy | Benign Brain Tumor | Benign Brain Tumor |
| Open Heart Replacement or Repair of Heart Valves | First Heart Attack of Specified Severity | Systemic Lupus Erythematosus with Lupus Nephritis | Parkinson’s Disease | Parkinson’s Disease |
| End Stage Renal failure | Open Chest CABG | Pneumonectomy | Alzheimer's Disease | Alzheimer's Disease |
| Stroke Resulting in Permanent Symptoms | Open Heart Replacement or Repair of Heart Valves | Medullary Cystic Disease | Major Burns Deafness | Major Burns Deafness |
| Major Organ/ Bone Marrow Transplant | End Stage Renal failure | Coma of Specified Severity. | Loss of Speech | Loss of Speech |
| Permanent Paralysis of Limbs | Stroke Resulting in Permanent Symptoms | Motor Neurone Disease with Permanent Symptoms | Coma of Specified Severity. | Primary Pulmonary Arterial Hypertension |
| Multiple Sclerosis with Persisting Symptoms | Major Organ/ Bone Marrow Transplant | Cancer of Specified Severity | Motor Neurone Disease with Permanent Symptoms | Pulmonary Artery Graft Surgery |
| Permanent Paralysis of Limbs | First Heart Attack of Specified Severity | Cancer of Specified Severity | Muscular Dystrophy | |
| Multiple Sclerosis with Persisting Symptoms | Open Chest CABG | First Heart Attack of Specified Severity | Systemic Lupus Erythematosus with Lupus Nephritis | |
| Open Heart Replacement or Repair of Heart Valves | Open Chest CABG | Pneumonectomy | ||
| End Stage Renal failure | Open Heart Replacement or Repair of Heart Valves | Medullary Cystic Disease | ||
| Stroke Resulting in Permanent Symptoms | End Stage Renal failure | Coma of Specified Severity. | ||
| Major Organ/ Bone Marrow Transplant | Stroke Resulting in Permanent Symptoms | Motor Neurone Disease with Permanent Symptoms | ||
| Permanent Paralysis of Limbs | Major Organ/ Bone Marrow Transplant | Cancer of Specified Severity | ||
| Multiple Sclerosis with Persisting Symptoms | Permanent Paralysis of Limbs | First Heart Attack of Specified Severity | ||
| Multiple Sclerosis with Persisting Symptoms | Open Chest CABG | |||
| Open Heart Replacement or Repair of Heart Valves | ||||
| End Stage Renal failure | ||||
| Stroke Resulting in Permanent Symptoms | ||||
| Major Organ/ Bone Marrow Transplant | ||||
| Permanent Paralysis of Limbs | ||||
| Multiple Sclerosis with Persisting Symptoms |
Liberty Secure Future Connect Group Policy Personal Accident Cover
Here, you’ll get the following coverage options
| Option A | Option B |
|---|---|
| Accidental Death covered up to 100% of the Capital Sum Insured (CSI) Permanent Total Disability (PTD) is covered up to 100% of the CSI Performance of funeral ceremony is covered up to INR 5,000 | If an accidental death occurs due to traveling in public transport, 100% of CSI + 100% of CSI will be payable.. If you suffer from PTD due to an accident in public transport, 100% of CSI + 100% of CSI will be payable. Performance of funeral ceremony is covered up to INR 5,000 |
Liberty Secure Future Connect Group Policy Involuntary Loss of Job Cover
If you lose your job during the policy period, intimate the insurer within 30 days from the date of termination, dismissal, temporary suspension or retrenchment from employment as the case may be. In such a case, a benefit amount equal to 3 EMIs shall be payable. However, if the sum insured is less than the loan amount, payable EMIs will be in proportion to the sum insured.
Liberty Secure Future Connect Group Policy Optional Covers
You can choose to have any of the following optional covers under this policy:
30 Days Survival Period Under Critical Illness Cover: Using this optional cover, you’ll get coverage under Critical Illness Cover only if you survive for 30 days from the date of first diagnosis or occurrence of the critical illness.
Deletion of ‘Involuntary Loss of Job’ Cover: If you choose this cover, the Involuntary Loss of Job cover stands deleted
Selection of Option B of Personal Accident Cover: You’ll get the coverage under Option B of Personal Accident Cover if you choose this optional cover
Permanent Partial Disability Cover Under Personal Accident Cover: The insurer shall provide you a percentage of the capital sum insured, as specified in the policy scheme, if you suffer from permanent partial disability due to an accident.
Child Education Benefit: In case of Accidental Death or Permanent Total Disability, the insurer will pay towards child education. The benefit chosen under this optional cover should be in the range of INR 25,000-5,00,000.
Deletion of Personal Accident Cover: Personal Accident coverage stands deleted if you opt for this cover
Deletion of Critical Illness Cover: Critical Illness coverage stands deleted if you opt for this cover
General Exclusions from Liberty Secure Future Connect Group Policy
The insurer shall not cover any loss or damage that occurs due to the following:
- Breach of the law with criminal intent.
- War, invasion, an act of a foreign enemy, hostilities, civil war, rebellion, revolution, insurrection, mutiny, military or usurped power, seizure, capture, arrests and acts of terrorism, Riots, Strike, Malicious Acts, etc.
- Ionizing radiation or contamination by radioactivity from any nuclear fuel or nuclear waste or combustion of nuclear fuel.
- Nuclear weapon materials
- Consumption or abuse of alcohol/drugs
- Self-destruction, self-inflicted injury or attempted suicide
- Sexually transmitted diseases such as AIDS, AIDS-related complex syndrome and all diseases caused by or related to HIV.
- Treatment traceable to pregnancy, childbirth, abortion, miscarriage and its consequences
- Servicing in any branch of the Military or Armed Forces
- Any act of terrorism/sabotage
- Any claim arises while driving in any vehicle without a valid driving license
- Any mental illness, psychiatric or psychological disorders
Terms & Conditions of Liberty Secure Future Connect Group Policy
- The policy sum insured is fixed and cannot be increased or decreased during the policy period
- The minimum sum insured option is INR 25,000
- The maximum sum insured is INR 15,00,00,000
- Pre-medical checkup will be required if the sum insured is INR 3 crore or above
- The minimum entry age is 18 years
- The maximum entry age is 65 years
- Only Indian Nationals can buy this policy
- This policy is issued once the loan has been disbursed
- Involuntary Loss of Job cover is available only for salaried applicants
- There is a waiting period of 90 days from the policy inception
- The policy tenure options are 1, 2, 3, 4 or 5 years
- The premium for the entire policy will be collected upfront and it is calculated based on your age, loan amount, sum insured, the policy period, loan period, etc.
- Any of the loan applicants/co-applicants can be covered under this policy