Groups work with and exist only because of their members. Members could be your customers, employees or any other individuals already associated with you. No matter what your area of work, the value that individual members bring to your group cannot be under estimated.
While being an important part of your group or organization, your members are also an essential part of their family. It hence becomes your responsibility to ensure basic financial security for them.
Our IndiaFirst Group Term Plan is a yearly renewable plan that helps you provide your members with a life cover, thus securing their families against uncertainties of life.
You may now provide life cover at reasonable rates to your members – be it your employees or your customers.
You have the flexibility to automatically cover the life of all your members or offer it as a voluntary scheme where your members may choose to participate.
You have the flexibility to choose between three premium paying frequencies.
The plan is renewed yearly and provides you the flexibility of adding new members during the plan year.
You can also opt for the Employees Deposit Linked Insurance (EDLI) Scheme under this plan.
Members can get a life cover at an extremely reasonable price. The member's family (nominee) will be paid the sum assured, in the unfortunate event of the member/ life assured's.
The joining procedure is simple and convenient.
Members can enjoy tax benefits on the premium you pay under section 80C.
The sum assured is paid to the nominee through you, the master policyholder.
You may deduct any amount due before paying the proceeds to the nominee. However, this is not applicable under EDLI.
Minimum group size is 50.
Tax laws are subject to change from time to time. Please speak to your tax consultant before deciding to invest in any financial planning tool.