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Life Insurance Corporation of India - /

Home » Products » Withdrawn Plans » LIC's Mortagage Redemption Assurance (Plan No. 52)


  • Date of Withdrawal : 16.11.2013
  • The Mortgage Redemption Assurance policy (without profits) plan is designed to meet the
    requirements of the policy holding individual who seeks to ensure that all his outstanding
    loans and debts are automatically paid up in the event of his demise.

    Under the Mortgage Redemption Assurance policy (without profits)

    The proponent will have to bear the cost of the mandatory medical examination.

    The policies are usually issued only to male lives aged 50 years or lesser.

    The policies are subject to a condition that the insurance cover would not extend beyond 65 years.
    All loans must be liquidated by the time the borrower attains the age of 65.

    The policies bear no surrender value.

    Suitable For:
    Middle-aged to elderly professionals whose dependents might need assistance in clearing
    their debts in case of their unexpected demise are most suited for the Mortgage Redemption
    Assurance policy.
Life Insurance Corporation of India – Corporate Office : Yogakshema Building, Jeevan Bima Marg, P.O. Box No – 19953, Mumbai – 400 021 IRDAI Reg No- 512