Hyundai India Introduces Industry-First EMI Assurance Program

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Hyundai Motor India Ltd. today announced and Industry-First ‘Hyundai EMI Assurance’ program to enhance the convenience and add some positivity to customer sentiments. As announced, Hyundai Motor India is all set to re-open dealership operations under strict adherence to government directions in COVID-19 affected areas.  Maintaining all Safety and Hygienic parameters, all Hyundai touchpoints – showrooms and workshops are following contactless services for customer interactions.

Announcing the Industry First Hyundai EMI Assurance Program, Mr Tarun Garg, Director – Sales, Marketing and Service said, “Hyundai is a Progressive, Innovative and Caring brand. We understand customer aspirations of buying a vehicle and to ease the vehicle acquisition in uncertain times, we have brought the unique and industry-first Hyundai EMI Assurance Program. We are sure, the Hyundai EMI Assurance Program will give new Hyundai owners working in private organizations full peace of mind during these times and create positive and confident sentiments for Hyundai car purchase.”

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To ease the buying process, while keeping the fear of employment uncertainty at bay, a unique and Industry first customer program ‘Hyundai EMI Assurance Program’ has been introduced for select new Hyundai customers covering up to 3 car loan EMIs. The program covers the customers under uncertainties such as employment loss in view of Poor financial health/Acquisition/ Merger of the company or due to any applicable laws.

The Hyundai Assurance Program is offered on select Hyundai car models purchased during the month of May’20 and covers the customer for a period of one year from the date of sale of the car (Excluding the first 3 months). Regarding the eligibility of the offer, it is applicable only to Customer (Age 18~65) who is “Salaried in Private Job” and has taken a car loan. In order to get the coverage, it is through a Certificate of Insurance issued in the name of Insured and sent directly to his/ her email address from Shriram General Insurance Company (Insurer). The Sum Insured under this cover is limited to the number of loan EMIs as opted by the Insured or the outstanding loan amount whichever is lower at the time of claim.

Exclusions which will not be covered

  1. Unemployment at the time of inception of the cover or arising within the first 3 months of inception of cover
  2. Dismissal/discharge/suspension/retrenchment for any Poor Performance/Dishonesty/Fraud/Wilful violation by employer
  3. A job is a probation, training, casual, temporary, seasonal or contractual in nature
  4. Loss of Job which is less than a period of thirty (30) days at a stretch
  5. The Insured is aware beforehand at the time taking this cover
  6. Purely voluntary or Resignation, Superannuation, early retirement of the Insured
  7. Suicide attempts, intentional self-injury, the influence of intoxicating liquor or drugs or involve in Hazardous or Adventure sports by Insured

The Allowed EMI Amount for Insured – Minimum is ₹ 2,000/- and the maximum is ₹ 50,000/-. EMI Assurance scheme is applicable on all Hyundai models except Creta, Elantra, Tucson & Kona EV.

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