Scheme works following way.
Your not so educated loved ones are given credit cards as an courtesy offer and you feel good about it.( who cares whether they can repay or not. They think that their hard earning son/daughter would foot the bill).
Then even before you realise anything, your loved one gives away all important bit of security to the marketing guys who convinces them enough that they dont need any other advice before saying yes to everything they want to draw policy on their name( who cares whether they can pay or not. They think that their hard earning son/daughter would foot the bill)
You will learn about this only when axis bank quickly converts that large lump-sum into an EMI and you will be left with facepalm situation trying to find liable party in this mess.