This is what we offer with the plan
Provide Financial security at nominal cost
One Year Renewable Term (OYRT) & Single Premium
Plan provides Level and Reducing Death Benefit option
Joint life Option available for the Second Life
Tax benefits under relevant sections as per prevailing tax laws.
Death benefit
The amount of death benefit payable depends on the Death Benefit option and Cover Option chosen by the insured member at inception.
Maturity benefit
There is no maturity benefit under this plan.
Surrender
This is a pure protection plan option and therefore does not acquire any surrender value. However, a Refund value shall be payable for Single Premium contracts with Cover Term of higher than 24 months.
Tax benefits
Tax benefits may be available on premiums paid and benefit receivable as per prevailing Income Tax Laws.
Documents
Download the documents below to learn more about the Group microsurance plan II.
Get Started
This Developer Portal will provide you with the functional and technical documentation needed to integrate this plan with your business. Click on the button below to start exploring our APIs!