Group term life insurance covers death benefit and also provides options to cover additional riders such as permanent disability (total and partial) and critical illness at an additional premium.
Options to cover multiple sum insureds under our group term insurance plan. Coverages can vary by grade, designation, number of employees, gender, profile of work, industry, salary and retirement age.
Option to increase the sum insured under group term policy during the year due to salary hike, promotions or other reasonable reasons, without changing the definition for the cover for the group.
Easy and prompt claim settlement within specified turn around times. All aspects related to claims such as faster communication, timely submission of claim documents to insurers are handled by experts centrally.
A group term life insurance scheme is a group insurance scheme which provides death benefits to an employee’s nominee. In the case of death of an employee, either through accident or natural causes, the nominee would get the lump sum insured under the plan.
A group term life insurance plan is ideal for organizations that decide to monetarily secure their employees’ families. Below are the basics of how a group term life insurance works.
A group term life coverage plan has the following features:
For employees –
For employers –
Below is a list of entities eligible to obtain a group term life insurance policy for their employees:
The eligibility criteria vary by type of the group. Some of the common criteria are:
Leverage specialized underwriters and international experts unique for each line of business.
Works with all the leading insurers to discover the best price for most comprehensive features.
Get cover note issued within 24 hours. All service requests are resolved in pre-defined TATs.
Manage all aspects of claim including insurer, surveyor & TPA co-ordination, and documentation.
Receive risk diagnostic reports, themographic studies, policy analysis, and wellness programs.
Access your insurance policies through single login; service requests, MIS, and renewal alerts.