As a caring employer you can provide life insurance benefits to your employees at a low cost due to group buying power and also no medical underwriting is required up to the Free Cover Limit. (Based on the characteristics of each group, the free Cover Limit is established. A Free Cover is a limit up to which Life Insurance cover is provided without any medical underwriting)

Features & Benefits:

• It is a One year renewable contract
  
•  Benefit is payable on death due to natural or accidental causes
•  No survival benefits are payable at the end of the contract
  
•  On maturity of the contracts, it can be renewed at mutually agreeable terms.
  
•  Suicide can also be looked at being covered after a stipulated period.

You may think that personal accident will take care of the factor but what if the death did not happen because of any accident and is a natural death. Under such cases personal accident becomes un-claimable and term life pays the benefit. Even if one has taken both the policies for its employees then in case of accidental death the benefit will be paid by both the Insurers, thus ensuring the security of your employee by all the means.

For life a specific Sum Insured can be derived based on any of the factors below:

• A fixed multiple of salary.
• A flat cover.
  
• A percentage of salary for each year of future service to normal retirement date.
• A fixed age-related scale.
• A formula based on designations/ grade of employees in the group.
  

Additional Optional available Riders:

• Accidental Death Benefit Rider.
  
• Total and permanent disablement rider and partial and permanent disable rider.
• Profit sharing from experience in your policy
  
• Continuation option which allows employees to keep their life insurance cover in force even after leaving employment in an individual capacity without medical evidence.
  

To understand the nuances of different types of policies and its price, feel free to seek the help of InsuranceMall to select the right products based on your need. Or you can directly call them on +91-22-30503050

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