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| Insurance >> Group Schemes >> Group Insurance Scheme |
- Cost is very low
- Covers natural as well as accidental death .- 24 hours cover
- Double Accident cover available with extra premium of Rs. 0.75 per thousand Sum Assured
- No medical examination upto Rs. 4 Lakhs
- Covers death on land, air, sea
- Stamp duty will be borne by LIC
- For Average age group of 42 yrs. for cover of Rs.1000 premium of Rs. 3.35 per Rs. 1000 is charged. If the average age increases the premium will increase and if average age decreases the premium will also decrease
- Service tax 12.36 % will be charged extra on risk premium
- Premium is payable yearly
- Minimum Group Size - 50 members/employees
- Age - minimum -18 & maximum - 60 yrs
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