KSFE will waive the liability of the chit, up to a maximum of Rs. 10 lakh, in the unfortunate event of the subscriber's demise. The liability waiver option will act as a de facto, free-of-cost insurance scheme for Pravasi Chitty subscribers. One person can receive a maximum liability waiver amount of Rs. 10 lakhs.
Additionally, KSFE also offers its subscribers accidental insurance coverage and body repatriation, in the untoward death of a subscriber, in collaboration with the Kerala State Insurance Department (KSID).
In the unfortunate event of the death of:
Accident Insurance is designed to protect your chit continuity, in case of an accident or emergency. The subscriber will be entitled to an Insurance claim, depending on the percentage of disability occurred due to the accident.
In the untoward event of death of a subscriber, the nominee can claim a refund of airfare upto INR 100,000, for transporting the dead body of the unfortunate subscriber to the homeland along with a companion.
The KSFE availing the insurance support shall undertake the responsibility of the chit payment in the event of the insurance covered death and disability.