This is pure cover: it pays your family if something happens during the term, and there is no amount paid back at the end. This plan can be renewed up to age 64 years and is designed for groups with an employee-employer relationship.
What's included
Key highlights
- One-year term plan
- Insures all members of the group
- Specifically designed for professional groups
Features
- Available for groups with employee-employer relationship
- Renewable
- Covers all members in the group
What happens in each case
Each plan pays out differently depending on what happens during the term. These are the situations that matter for this kind of plan.
If the insured passes away during the term
The nominee receives the full sum assured. There is no savings element, so nothing else accrues.
Typical for term plans — confirm the exact terms in the brochure.
If the policy runs to maturity
There is no maturity payout. The premium buys cover for the term, not savings.
Typical for term plans — confirm the exact terms in the brochure.
If death is caused by an accident
With the accidental death rider, an additional amount is paid on top of the sum assured. The rider is optional and carries its own premium.
Typical for term plans — confirm the exact terms in the brochure.
Optional riders
Accidental Death Benefit
No separate rider is specified on the official product page
Loan & liquidity
- Policy loan
- Not available
Questions about this plan
What kind of plan is Citizen Group Term Insurance Plan?
Citizen Group Term Insurance Plan from Citizen Life Insurance is a term plan that is pure life cover for a fixed period, with no savings element, and suits people protecting family income or a loan.
Who can buy Citizen Group Term Insurance Plan?
The entry age for Citizen Group Term Insurance Plan is 18 – 64 years.
How long does Citizen Group Term Insurance Plan run?
The policy term for Citizen Group Term Insurance Plan is One year.
How much cover can I take on Citizen Group Term Insurance Plan?
The sum assured available on Citizen Group Term Insurance Plan is From Rs 50,000.
Which riders can be added to Citizen Group Term Insurance Plan?
Citizen Group Term Insurance Plan can be taken with the following optional riders: Accidental death (ADB). Each rider carries its own premium.
Premium
Quote on request