It covers two
people under a single policy and provides flexibility in terms of premiums and benefits.
As the name itself suggests, a group term life insurance is designed to offer life insurance to a group of
people under a single policy.
Not exact matches
I expressed my views in this regard on WhatsApp last weekend, «Any country in which its elites consider re-electing a president like Buhari just as thousands of citizens are murdered across the country with not a
single person arrested; a president who can not make an intelligent conversation on any
policy or global issue with other global leaders; a president whose EFCC and DSS engage in open confrontation; a regime which crippled the economy and relies on cyclical movements in oil prices as its sole economic lever; a regime
under which 10 million jobs are lost; and key accusations against top officials are treated with levity; just as the regime appears complicit in the invasion of its senate by thugs and seizure of mace... such a country is in serious trouble, that is if it isn't doomed.
Under certain circumstances,
people who would otherwise be uninsurable on a
single life insurance
policy due to their health can be covered with another individual.
Under a
single Group Insurance
Policy, a number of
people could be insured.
If more than one
person is covered
under a
single critical illness
policy, each member qualifies to get cover once during the
policy tenure.
In case of the demise of the insured
person during the tenure of the
policy, 125 % of the
single premium paid or the sum assured, whichever is higher, is paid to the beneficiary of the
policy,
under single premium mode option.
If the
person insured is less than 8 years of age than the risk cover
under this plan will commence from 2 years after the start of the
policy or from the anniversary of the LIC
single premium
policy coinciding with or immediately following the date of the
person turning 8 years of age.
Group life insurance provides coverage for a number of
people under a
single master contract or master
policy.
As many
people in the Crossroads of the Pacific have discovered, the decision to combine coverages
under a
single policy can save several hundreds of dollars.