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