Common use of Cancellation in case of Credit Linked Cases Clause in Contracts

Cancellation in case of Credit Linked Cases. In addition to the above, in cases the policy is linked to the credit/ loan tenure, the coverage will continue till the end of loan tenure subject to maximum tenure of 5 years, closure of the loan or policy period whichever is earlier. The Insured Person shall inform the Company of such closure of the loan immediately in order to cancel the policy/ coverage.

Cancellation in case of Credit Linked Cases. In addition to the above, in cases the policy is linked to the credit/ loan tenure, the coverage will continue till the end of loan tenure subject to maximum tenure of 5 yearstenure, closure of the loan or policy period whichever is earlier. The Policyholder/Insured Person shall inform the Company of such closure of the loan immediately in order to cancel the policy/ coverage.