Benefits are passed to Nominees
The group term insurance policy provides cover to members of a ... group/community. This policy offers basic coverage to all group members irrespective of whether they hold a personal life insurance policy or not.
Contractors and employers both profit from group term life insurance policies.... Death benefits are tax-free as per Section 10(10D) of the Income Tax Act of 1961.
Add-on coverage like tuition premiums, displacement allowance,... accidental death, and more, can be added to the group term insurance policies to present a broad spectrum of advantages to the employees in addition to the base cover.
A group insurance policy plan's premium is considerably lower than that of personal policy plans because it covers... many individuals.
To customize your Term Plans, use our online calculator and create your premium selection.
Fill your details and answer few health-related questions.
To complete your purchase, pay from the broad set of options provided and upload the necessary documents mandated to issue the policy.
The better the ratio, the higher are the chances of getting your insurance claim settled conveniently. ... In fact, we cover maximum insurers with a high claim settlement ratio, to make your Insurance choice better and worry-free.
Did not like the terms of the policy? What now? Well, do you want to opt for another Policy? ... No worries, our all policies come with a 15 days Free Look period, and that lets you compare the policy even after the purchase and return if you don’t like it.
We assure that every client is offered proper help for the claim processing. During this process,... our dedicated team members & Relationship Managers give in their best to ensure you with the correct guidance at the right time.
Gather Your Receipts: To raise a claim, firstly, you must obtain a thorough invoice from your doctor or medical source.
Fill in an application form: This form is a document that declares and provides your insurance organization with more details regarding the illness or accident.
Keep a copy handy: It's a good idea to make copies as a preventive measure. Before submitting the claim to your insurance company, do organize your whole claim properly.
Review & Call: As you have all your documents filled out, send them to your insurance company and make sure to contact them on a call too.
18 years of age is the minimum age for enrolling into a group term insurance policy.
The max-age to enroll in a group insurance plan is 69 years and the max age at the time of expiry of the policy is 70 years.
1 year is the tenure of a group term insurance policy which can be renewed every year.
The community term life insurance policy ensures a minimum amount of Rs. 1,000 to Rs. 5,000 based on the plan.
In case of the insured's premature demise, the insurer will pay the amount ensured as the death benefit to the specified nominee of the insured.
You cannot get the sum paid as a premium back at the end of your group term insurance policy as they don't come with any maturity benefit. Yet, if the return of premium rider is available in your policy, then you can purchase it to get your premiums back.