No Pre-Medical Examination: Many group-term life insurance plans do not require policyholders to undergo a medical exam. This can make it easier for individuals with pre-existing medical conditions to obtain coverage.
Group Term Life Insurance
Group term life insurance provides life coverage for a group of people under a single insurance plan. Any organization, including banks, NGOs, professional groups, non-banking financial institutions, and more, can purchase this policy. The plan provides financial coverage for the family in case of the demise of any group member.
Secure & Compliant
Fast Claim Support
Trusted Insurer Partners
Secure & Compliant
Fast Claim Support
Trusted Insurer Partners
Benefits of Group Term Life Insurance
Affordable: Group term life insurance is generally more affordable than individual term plans because many people are covered under the same insurance plan. Therefore, it acts as an attractive option for employers to offer as a benefit to their employees.
Customized Easily: Employers can purchase various add-ons like tuition premiums. repatriation allowance, accidental death, and more to enhance the coverage of their group term life insurance policy.
Tax Benefits: A death benefit received against group term life insurance is tax-free under Section 10 (10D) of the Income Tax Act, 1961.
