Group Term - customer

Group Term Insurance
- Provides protection cover to groups of people
- One master policy covering all members of the group
- Annually renewable term plan with approval of both parties
- Addition of members anytime during the year
- Sum Ensured payable to nominee upon death of the covered member
- Employees can be additionally covered by riders (e.g. accidental, critical illness , or disability)
- Simplified enrollment process
Benefits to employer:
- Life coverage for all of the group members under one policy
- Easy and hassle free financial help to the employee's family, in case of an unfortunate event
- Cost-effective method to buy a high cover at a low premium
- Serves as a strong retention tool
- Simple procedures for the addition and deletion of members in the policy
Benefits to Employee:
- Adequate financial support to loved ones against his or her accident, illness or untimely death
- Convenience of no medical tests till until free cover limits
- Premiums paid significantly lower than the individual protection of same scale