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Shriram Group Term Life Insurance (UIN 128N040V01)is a better
alternative to provide more life insurance benefit to all
employees irrespective of their PF balances, salary level and
service. In particular, premiums may be lower than the
contributions made by the employer towards EDLI when the
employee's salary is high and the group is young. A single
Master Policy Issued to the employer provides Life Insurance
Benefit for all employees.
The plan offers a uniform amount of coverage that can be chosen by the employer starting at a minimum level of Rs.1,32,000. The employer can also offer differential benefits. The basic Life cover can also be enhanced by adding Accident Benefit Rider.
Shriram Group Term Life Insurance in lieu of EDLI is an affordable, easy-to-obtain financial security net for you and your loved ones. It pays a lump sum payment in case of unfortunate death helping your family to reduce their debts.
|Minimum age at entry||14 years age last birthday|
|Maximum age at entry||75 years age Last Birthday|
|Cover ceasing Age||76 years age Last Birthday|
|Minimum Sum Assured||Rs.1,32,000/-|
|Maximum Sum Assured||Rs.5,00,000/-|
|Term||One Year(Renewable annually)|
|Nature of Scheme||Statutory|
|Minimum Group Size||20 Members|
Revenue in Cr
Total Number Of Lives