A group life insurance plan enabling employers to provide life cover to employees at low premiums. Coverage is provided up to normal retirement date
What's included
Key highlights
- Low-cost group life cover
- No medical up to age 45
- Sum assured NPR 50,000–350,000
Features
- Employer-sponsored life cover for employees
- No medical requirements up to age 45
- Minimum group size 50 employees
- Employer must contribute at least 50% of premium
Terms and conditions
- Minimum group size 50 employees
- Employer must contribute at least 50% of premium
- At introduction, minimum 75% of confirmed employees must join
- Mandatory joining for subsequently recruited employees
- Plan variations possible depending on group size/composition
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 sum assured, and the policy ends.
Typical for life insurance plans — confirm the exact terms in the brochure.
If the policy runs to maturity
You receive the sum assured on the maturity date.
Typical for life insurance plans — confirm the exact terms in the brochure.
Optional riders
No optional riders are attached to this plan.
Loan & liquidity
- Policy loan
- Not available
Questions about this plan
Who can buy Group Insurance Plan?
The entry age for Group Insurance Plan is 18 – 55 years.
How long does Group Insurance Plan run?
The policy term for Group Insurance Plan is Up to normal retirement date.
How much cover can I take on Group Insurance Plan?
The sum assured available on Group Insurance Plan is Rs 50,000 – Rs 3,50,000.
Premium
Quote on request