IndiaFirst Life Group Micro Insurance Plan is a non-linked, non-participating, group micro insurance plan, which can be purchased by you, as the master policyholder to provide a comprehensive protection to your borrowers or members and their loved ones. This policy will also ensure that your borrowers/ members are able to manage their financial goals well and achieve all their dreams.
REASONS TO BUY INDIAFIRST LIFE GROUP MICRO INSURANCE PLAN
Safeguard your members and their family from after effects of unfortunate experiences like Death, ATPD, CI
You have four different cover options to choose from:
i. Life Cover
ii. Life Cover + Accidental Total Permanent Disability
iii. Life Cover + Critical Illness
iv. Life Cover + Accidental Total Permanent Disability + Critical Illness
Cover your loan up to Rs 2 lakh through Level or Reducing cover option
Get the flexibility of having the cover period as low as one month or going up to 10 years
No GST on the premiums paid
What are the eligibility criteria?
The minimum age at entry is 14 years and the maximum age at entry is 69 years
The maximum age at maturity is 70 years
Minimum term in the plan is 1 month and the maximum term is 120 months, depending upon the type of group and the policy.
Premium Paying terms available are Single Pay or Regular Pay or Limited Pay – Policy Term less than 24 months
Minimum group size that can be covered is 5 members and there is no limit on the maximum group size
The Minimum Sum Assured in the plan is INR 1,000 per member. The Maximum Sum Assured in the plan is INR 200,000 per member per policy