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The benefits under the plan vary as per the plan option chosen.
Option 1- Death Only
Upon death of the Insured Member, Death Sum Assured is payable and there will be no further insurance coverage in respect of this Insured Member.
Option 2- Death and Terminal Illness
Under this Coverage Option, upon death or diagnosis of TI of the Insured Member, whichever is earlier, Death / TI Sum Assured is payable and there will be no further insurance coverage in respect of this Insured Member.
Option 3- Death, Terminal Illness (TI) & Critical Illness (CI)
Under this Coverage Option, upon death or diagnosis of Terminal Illness of the Insured Member, whichever is earlier, Death / TI Sum Assured is payable and further insurance coverage in respect of this Insured Member will be limited to the CI Sum Assured up till the renewal date.
Add-on Feature in the Plan
Flexibility to change the Sum Assured
The Sum Assured with respect to an Insured Member may be increased or decreased during the term of the Master Policy.
Option to backdate the Master Policy
You have the option of backdating the Policy Commencement Date (PCD) (start date of the Master Policy) to a date prior than the Risk Commencement Date (RCD).Where PCD is backdated, pro-rata premium will be payable for the period starting from RCD up to the next renewal date or the next premium due date whichever is earlier and no claims will be admissible which occur prior to the RCD.
Entry Age (Age last birthday)
Minimum
18 years
Maximum
Death Benefit: 80 Years
Terminal Illness Benefit: 80 Years
Critical Illness Benefit: 69 Years
Death Benefit: 80 Years
Cover Ceasing Age
Death Benefit: 81 Years
Terminal Illness Benefit: 81 Years
Critical Illness Benefit: 70 Years
1 Year
Minimum
Death Benefit: 5000 per member
Terminal Illness Benefit: 5000 per member
Critical Illness Benefit: 1000 per member
Maximum
Death Benefit: No limit, subject to Board Approved Underwriting Policy of the Company
Terminal Illness Benefit:
No limit, subject to Board Approved Underwriting Policy of the Company
Critical Illness Benefit: CI Sum Assured is 50,00,000 per member, capped at Death / TI Sum Assured
For Group Term Life requirements in lieu of EDLI
Minimum: - 2,50,000 per member
Maximum: - 10,00,000 per member
For Group Term Life requirements in lieu of EDLI, Maximum Entry Age will be as long as he/she is a member of Provident Fund scheme and Maximum Maturity Age will be the day on which he/she ceases to be a member of Provident Fund scheme.
Yearly, Half-Yearly, Quarterly & Monthly modes are available
Group Size
Minimum
10 members*
Maximum
No Limit
*After Master Policy issuance if the group size falls below 10 members, Master Policy will continue until the renewal date, after which it will be terminated.
