ICICI Pru
Shubh Raksha Credit

• Company’s Certificate of Registration (RBI/NHB/RRB regulated)
• Company’s Copy of PAN Card of the Company / GST certificate
• Memorandum of Association and Articles of Association
• Certificate of Incorporation/ Certificate of Commencement (RoC/MCA)
• Proposal form
• Scheme rules
• Beneficial Ownership declaration
• NPO Declaration (if the company is a Section 25 / Section 8 company)

The claim amount payable on the happening of the contingent event covered under this policy, shall be paid to the Master Policyholder in line with the IRDAI framework and to the extent of outstanding loan amount, provided a valid assignment has been made by the Member in favor of the Master Policyholder. Any residual benefit shall be paid to the beneficiary. In the absence of a valid assignment, the claim payment will be made to the beneficiary. The following documents need to be submitted to raise a claim:

1. Duly filled and signed Claimant Statement Form
2. Recent photograph of the Claimant
3. Pan Card/ Form 60 of the Claimant
4. Duly filled and signed Payout mandate form with bank account details of the Claimant
5. Original Certificate of Insurance
6. Certificate from the Master Policyholder confirming the status of the loan, for which cover is taken, if applicable.
7. Copy of Death certificate issued by the government authority in case of death claim
8. Signed Copy of photo identity proof of the claimant
9. Current Address proof of the claimant (Any one of the following: Aadhar Card, Valid Passport or Driver's License, Voters ID are considered as proofs).
10. Copy of cancelled cheque / bank statement / passbook of the bank account of the claimant where payment needs to be transferred
11. In case of natural death/ death due to illness - Medico-legal/ Medical cause of death certificate, Past Medical records (i.e. Admission notes, Discharge / Death summary, test reports, etc.) ) if any, and treatment papers, All hospitalization records (admission form, Indoor Case Papers (ICPs), Discharge Summary, Diagnostic test reports such as USG, Pathology/Lap reports etc), Duly filled in Treating Medical Certificate, Duly filled in Medical /Hospital attendant Certificate, Duly filled in Employer Certificate (only for salaried individuals) is required.
12. In case of accidental death - Medico-legal cause of Death Certificate, FIR, Panchnama/ Inquest report, Postmortem report issued by the Hospital, Viscera/Chemical Examination report, Newspaper Cutting (if any), Hospitalization/ treatment records (if any), Duly filled in Medical /Hospital Attendant Certificate, duly filled in Employer Certificate (only for salaried individuals) and Driving license required
13. In case of Terminal illness - Definition Fulfilment documents are required
14. Any other documents or information as may be required by the Company for processing of the claim depending on the cause of the claim.

All claims’ payments will be made in Indian currency in accordance with the prevailing exchange control regulations and other relevant laws and regulations in India.

1. In the event of the death of the Member during the Coverage Term provided the Member’s Cover is In-force, the Death Benefit is payable to the Claimant.
2. Death Benefit payable to the Claimant shall depend on the type of cover chosen by You i.e., Reducing Cover or Level Cover.
3. In case of Level Cover, Death Benefit shall be equal to the Death Benefit Sum Assured as mentioned in the Certificate of Insurance and remains constant throughout the Coverage Term.
4. In case of Reducing Cover, the Death Benefit shall be equal to the Death Benefit Sum Assured at start of the Member Cover. However, the Death Benefit Sum Assured shall be reduced throughout the Member’s Coverage Term, as set out in the Reduction Schedule mentioned in the Member’s Certificate of Insurance. Death Benefit payable to the Claimant shall strictly depend upon the Reduction Schedule.
5. Type of Cover (i.e., Reducing Cover or Level Cover) chosen by You and mentioned in the Master Policy Schedule cannot be changed during the Policy Term.

For more details, kindly refer the Part C, Clause B- “Benefit Options” of the Policy document:

Suicide: If a Member, whether sane or insane, commits suicide within one year from the Date of Commencement of Cover, while the cover is in-force, 80% of premiums paid, in respect of such a Member will be payable. On the above payment, the member’s cover will terminate and all rights, benefits and interests of the member under the Master Policy will stand extinguished. In case of joint life cover, this clause is applicable on either of the members committing suicide. Post payment of the applicable amount, both the members’ cover will terminate, and all rights, benefits and interests of both members will stand extinguished.

For more details, kindly refer the Part D, Clause 3- “Definitions and Exclusions” of the Policy document: