Group Term Life (Non Employer Employee) of Bajaj Allianz Life Insurance is an insurance policy that has been designed to offer basic insurance policy to the members in a group. The main aim of this policy is to cover the risk of death. This one is a single policy in which al the members in a group gets benefitted.
Some of the features and benefits of Group Term Life (Non Employer Employee) of Bajaj Allianz Life Insurance are as follows:
- In this policy all the insured members in a group would be getting accidental death benefit as well as Permanent / Partial disability benefit. In case of accidental death benefit, the family member of the insured member would be getting the equal amount of sum that has been assured in the policy. and in case of Permanent / Partial disability benefit, the insured would be getting hundred / fifty percent of the sum that has been assured.
- The policy is also very flexible and so do the frequency for making the payment of the premiums. Here the frequencies of premium payments are yearly, monthly, quarterly and half-yearly. This flexibility offers the members in a group to select their very own premium payment frequencies.
- The group would get a chance to evaluate the policy for a specific period of time and this is referred as the free look period. If the group didn’t like the policy then they can return the policy within the specified day that is fifteen and they would be getting back the premium amount. The amount that would be paid is subjected to deduction of charges such as medical examination and stamp duty charges.
- The minimum age entry for this policy is fifteen years and the minimum amount that is to be insured in this policy is Rs. 10,000/-. The maximum sum that is to be assured would be Rs. 1, 50, 00, 000/-.
These are some of the features and benefits of Group Term Life (Non Employer Employee) of Bajaj Allianz Life Insurance.