Insurance Plans offered by the Standard Chartered Bank
Standard Chartered is a world-renowned provider of financial products and services, and the bank extends its facilities to customers who seek insurance for their home, car, travel, etc. Following are the comprehensive packages offered by Standard Chartered bank to its customers.
- Term Insurance
- Traditional Life Insurance
- Investment Linked Plans
Term Insurance plans from Standard Chartered bank are among the most affordable packages you can find out there. In case of the unfortunate death of the policyholder, his/her family receives financial help at a time they are at their most vulnerable. The sum insured usually remains the same and such plans come with no investment components so that customers refrain from exposure to investment losses or returns should the policy expire prior to the occurrence of the insured event.
These policies, unlike Term Insurance plans, come with an investment component that help customers in achieving their financial goals while offering protection at the same time. The premium payments towards Traditional Life Insurance policies are slightly higher in comparison with term life plans as these plans tend to build up cash values that can be used by customers as security while borrowing or withdrawing funds. The accrued cash value generally depends upon the tenure of the policy. Some of the most common Traditional Life Insurance plans include Whole of Life, Annuity policies and Universal Life.
Customers who wish to take out a life insurance policy primarily for the sake of investment can go for Investment-Linked Plans as these plans combine protection and investment to help customers reach their financial targets. Premium payments must be made on a regular basis and customers can avail life insurance protection as well as investment-linked funds in investment units that are professionally managed.
Car insurance plans from Standard Chartered bank can be purchased online and they offer comprehensive coverage against bodily injury, physical damage and third party liabilities. The vehicle will be insured against damage or loss and customers will also receive cover in case they incur medical expenses due to road accidents. Other benefits include agency repair, roadside assistance, off-road cover, and hire car, which allows the customer to hire a car for as long as their own insured vehicle has been repaired.
Standard Chartered Credit Secure Insurance
This insurance policy is ideal for customers who use credit cards. The plan offers financial coverage against unfortunate events like death owing to any cause, critical illness, permanent total disability and involuntary loss of employment.
Standard Chartered Travel Insurance
AXA Insurance and Standard Chartered bank have partnered to offer customers a convenient and quick method to gain easy access to travel insurance. This policy can also be purchased online and it offers round-the-clock global evacuation and emergency assistance. It also covers personal accidents, personal liabilities, loss or damage of baggage, loss of money, curtailment or cancellation, delayed departure, loss of passport and baggage delay.
With as many insurance policies as on offer at Standard Chartered bank, customers can find the package that best suits their needs with relative ease.