Group Life Insurance
Your Employees Are The Back Bone Of Your Business
If you are a working employee, you can avail a group term insurance plan offered by your employer and ensure that the future of your loved ones is safe and secure as they will receive a death benefit in case something happens to you.
Group term life insurance policy refers to the insurance coverage that is provided to a group of people. Group term life insurance schemes offer financial independence to the concerned employee’s family in the event of death. It is intended to provide monetary guarantee to the beneficiary of the covered under the group term life insurance plan in the case of death of the insured.
Group term life insurance schemes have become a fundamental constituent in benefit packages presented to employees by employers. In fact, most fraternal providers offer group term life insurance to its members.
Group term life insurance policies are offered to the following sections of people
- Employer-employee Groups
- Non Employer- Employee Groups
- Professional Groups
- Non-banking Financial Institutions
- Microfinance Institutions
- Premium: Premium On Group Term Insurance Can Be Paid Entirely By The Employer.
- Members Under The Scheme Are Also Allowed To Make Contributions Towards The Premium Of The Scheme.
- Double Accident Benefits: - For An Extra Premium, Double Accident Benefit Is Provided To The Insured In The Event Of An Accident.
- This Comes Excluding The Permanent Disability Benefit.