Group Suraksha of Bajaj Allianz Life Insurance is yet another single premium group term insurance policy that has been designed to offer insurance coverage against the credit risk together with basic life insurance coverage to its group members. In this policy the life insurance benefit for all members in a group is provided under a single policy.
Some of the features and benefits of Group Suraksha of Bajaj Allianz Life Insurance are as follows:
- In this policy the minimum age entry of an insured must be more then eighteen years and the minimum sum that is to be assured in this policy must be Rs. 40,000/-. The term for the risk cover is from two to thirty years.
- This is one such plan that eliminates all the risk in the event of the death of the borrower.
- This policy even allows the addition of a new member in a group at any point of time during the policy tenure.
- Riders are also available in this policy that is meant to offer some additional insurance coverage to the family members of an insured member in a group. The riders that are available are accidental death benefit rider and permanent /partial disability benefit rider.
- Since this one is a group policy therefore the premium for this policy are paid by all the members in a group. Here the amount of premium has been divided between the numbers of members in a group.
- Here the mode of making the payment of premiums is single and this is then one and only mode that is available in this policy. This means that the premium would be paid only once.
- In this policy the insured is not allowed to have any loan.
These are some of the features and benefits of Group Suraksha of Bajaj Allianz Life Insurance. For more information about this policy, people are requested to make a call at the 24 hour customer care center at 1800 – 2233 – 7272.