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Advantage Termsurance® Group Life Plan?
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Insurance Plan I am looking for :
 
 
Advantage Termsurance® Group Life Plan 
 
 
If you are a Non- Employer –Employee Group:
Various groups can be defined on a relationship basis such as customer-supplier relationships, deposit holder-bank relationships. There are many benefits of each of these groups. The Termsurance® Group Life Plan be used to match the needs of each group.
 
As an example, the benefits for a deposit holder – bank relationship are shown below:
 
Benefits available under the plan:
 
Death Benefit:
In the unfortunate event of death of the insured member, the sum assured, as specified in the plan rules by us, will be paid to the beneficiary. If you have opted for the accidental death benefit option, then in the event of accidental death, the accidental death benefit sum insured will be paid in addition to the basic death benefit to the beneficiary of the insured member.
 
Maturity Benefit: 
There are no maturity benefits in this plan.
 
Tax benefits:
If premium is paid by the insured member, then he/she can claim tax benefit under section 80C of the Income Tax Act, 1961. Benefits received are exempted from income tax in the hand of the beneficiaries under section 10(10D) of the Income Tax Act, 1961.
 
Where premium is paid by the group master policyholder, tax benefit can be availed under section 37 of the Income Tax Act, 1961. 
 
Tax benefits are subject to change in tax laws. You are advised to consult your tax advisor for details.
 
For more information, please read the sales brochure carefully. 
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