What is Group Term Plan?
Group Term Plan is a non linked, non participating, yearly renewable group term Plan offered to a group of individuals having a similar interest such as account holders, credit card holders, depositor/creditor groups, Government agencies, parents of school/college students, social sector groups etc.
What are its key features?
Life cover benefit available for your group at affordable rates Members can opt for voluntary or automatic schemes Members can secure their loved ones The sum assured is paid to the nominee through you, the master policyholder Amplify your cover with the Employee Deposit Linked Insurance (EDLI) Flexibility to choose between three premium paying frequencies, namely – monthly, six-monthly, and yearly Minimum group size is 50 Liberty to add new members during the plan year
What are its benefits?
the Master Policyholder can surrender the Plan anytime. However, the Member may opt to choose to continue the coverage as individual member till the end of the term as mentioned in the Certificate of Insurance They are eligible for the tax benefits as per Government Tax Laws. Yes, death benefits are also tax-free .
Why buy insurance on InsureMile online platform?
Because enquiry about insurance quotes, buying of insurance and other transactions are simple, transparent and competitive on InsureMile platform Because InsureMile does not ask you for your phone number or email details, thus you are not harassed by unwanted calls or mail. Because InsureMile will guide you, whenever you need any assistance
What is the claim ratio?
The claim settlement ratio for Indiafirst Insurance is 82.65%.
The most important differentiator is InsureMile’s ‘Buy A Policy, Feed A Child’ mission. For every policy you buy, InsureMile on your behalf contributes 25 meals to a child. You are thus becoming part of a Social Movement to eradicate hunger among children in India. There is no additional amount to be paid for the social cause. It is part of the premium. You can claim tax benefits for the donation you have made.