Bank Locker Protector Policy is the first policy in the industry to protect the contents of a bank locker such as jewelry and other valuables. Here are some of the salient features of the policy:
Coverage is provided for jewelry and other valuables kept in a bank locker.
It also offers an add-on cover to insure important documents kept in a bank locker.
The policy offers seven options of the sum insured ranging from Rs 3 lakh to Rs 40 lakh and above.
The process to buy is simple and easy. Needs a self-declaration up to a specified limit.
The claim process is smooth and hassle-free requiring basic documents.
The policy can be sold both as a retail and a group policy for banks.
A standalone policy for complete coverage of valuables in your bank locker.
The policy can be canceled by the company on grounds of fraud, moral hazard or misrepresentation or non-cooperation by sending 15 days' notice. In such an event, IFFCO-Tokio will return to the insured, except in case of fraud or illegality, the premium paid less the pro-rata portion thereof for the period the policy has been in force. Insured may also cancel this policy by sending 15 days' written notice. The company will then allow a refund after retaining the premium based on specified rates.
