This is yet another insurance policy from reliance life insurance that has been designed to offer protection to the assets and families of the insured from all types’ perils such as accidents, illness or in the event of an unfortunate death.
This one is a group insurance policy which means that there would be a master policy holder, which is mainly the employer of an office. Under this policy the employer of an enterprise can secure the future of its employees by offering them excellent insurance cover.
In this policy the premium payment mode is yearly and if the payment has not been made during the prescribed time period then the policy would not remain in force. The customer can return the policy to the company within fifteen days of the receipt of cancellation. The insured must also mention the reason for returning the policy. The premium that has been paid by the policy holder would be refunded after making a deduction of certain proportion.
Under this policy the insurance cover can be given to the employees at a very affordable cost and that is mainly due to the power of group buying. Another most interesting feature of this policy is that there is no need to make any expense for medical underwriting up to a certain limit. This limit is known as the Free Cover Limit and this is based mainly on the characteristics of each group.
This limit is established by the insurance company on which there would not be any fee for medical underwriting. This policy also offers insurance cover on the health of the employees within a group. This is one such policy that offers life insurance cover to the employees of at least three to five times of their yearly salary or wages.
These are some of the information about Reliance Group Term Assurance Plan. Regarding more information, one must make a call to the 24 hour customer care toll free number which is 1800 – 300 – 08181.