ICICI Prudential Group Term Plus Insurance Plan
ICICI Pru Group Term Plus is a group term life insurance plan which enables you to secure the financial well being of your employees and their families. This plan offers life cover to a group of individuals. Under this plan, if the member meets with an unfortunate demise, the nominee receives a lump sum amount. The Group Term Plus from ICICI Prudential offers benefits to both formal and informal employer-employee groups at an affordable rate. ICICI Prudential provides this group plan for non-banking financial institutions, micro-finance institutions, banks, and other professional groups.
Under the Formal plan of the ICICI Pru Group Term Plus insurance scheme, there can be 10 members. Under the Informal plan of the ICICI Pru Group Term Plus insurance scheme, there can be 50 members. The lump sum is paid to the nominee after the demise of the master policy holder due to any unfortunate event.
The ICICI Pru Group Term Plus insurance scheme is offered via a Master Policy that is issued to the individual. The members of the group you create will be covered for span of 1 year. It may be a flat cover amount or a graded cover amount. If all members of the group have different life covers it is called graded cover. In case all the members of the group have the same cover, it is known as flat cover. GST of 18% is applicable on life insurance.
Benefits of ICICI Pru Group Term Plus Plan:
- All the members under the ICICI Pru Group Term Plus Insurance scheme can enjoy life cover at a very low cost.
- A life covercan prove to be a very strong retention tool and a measure for loyalty building for the employers.
- Tax deductions can be availed on the premiums that are paid as per the prevalent tax laws.
- The administration process for deletion and addition of members is very simple.
- This particular plan is ideal for the employees as it provides life cover to secure the future of their close ones.
- In order to avail this coverage, there is no need of a medical examination. However, the life cover will be up to the limit of free cover. The maximum amount of life cover that can be offered without any medical test is known as free cover limit. This particular limit will differ from one group to another group.
- It is ideal for employers as it offers coverage to your employees in the event of an unfortunate event.
Other Benefits of ICICI Pru Group Term Plus:
Some of the other benefits that can be utilised by a policyholder while purchasing the ICICI Pru Group Term Plus are:
- Request the company to send you a financial advisor
- Get details of the plan online
- Request a call back from ICICI with details of the plan.
- Online comparison with other plans
- Apply for the plan online
- Locate the nearest ICICI Prudential branch
The reason you should Buy the ICICI Pru Group Term Plus
The ICICI Pru Group Term Plus is a plan offered through a Master Policy and issued to either the group administrator or the master policyholder. ICICI Prudential Life is a company that has continued to dominate the Indian life insurance sector since its inception. As one of the company’s core values is customer focus, it is an ideal choice to buy the ICICI Pru Group Term Plus plan.