Group Insurance Scheme is life insurance protection to groups of people. This scheme is ideal for employers, associations, societies etc. and allows you to enjoy group benefits at really low costs.
LIC Group Scheme Plans
- LIC’s New Group Leave Encashment Plan: It is a fund-based Insurance plan that helps the employer in providing leave encashment to their employees.
- LIC’s New Group Superannuation Cash Accumulation Plan: It is tailor-made to the employer who has a defined superannuation scheme for their employers.
- LIC’s New One Year Renewable Group Term Assurance Plan 1: This plan offers the option of renewing premium rates at each Annual Renewal Date.
- LIC’s New One Year Renewable Group Term Assurance Plan 2: Under this, premiums can be renewed through profit sharing arrangement.
- LIC’s New Group Gratuity Cash Accumulation Plan: This scheme meets the employer’s obligation for statutory gratuity benefit to their employers.
- LIC’s Group Credit Life Insurance - An insurance scheme that protects banks and other financial institutions against a risk of outstanding loan in the case of the unfortunate death of the loanee before complete repayment of the loan.
Group Insurance schemes offer protection and stability to a group of a people.
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