It is a one year Renewable Group Term Assurance plan that assures payment of sum assured upon death.
Eligibility –
| Group Size | Free Cover Limit |
| Up to 200 members | 1.1 times the average sum assured |
| 201 to 500 members | 1.15 times the average sum assured |
| 501 to 1000 members | 1.20 times the average sum assured |
| 1001 and above members
|
1.25 times the average sum assured
|
Benefits –
| Condition | Limit |
| Minimum age at entry | 14 years age last birthday |
| Maximum age at entry | 65 years age last birthday |
| Maximum age at maturity | 66 years age last birthday |
| Policy Term
|
1 years |
| Mode of premium payment | Annual renewable premiums |
| Minimum Sum assured | Rs.10,000 or 20 times the salary whichever is higher for employee- employers group
Rs-10,000 for members of associations if they are non salaried.
Rs-5000 for members of social sector groups.
Depends on underwriting considerations.
Minimum group size 100 member
|
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Tags: Insurance, Shriram Life Insurance