INSURANCE BENEFITS

Group life insurance scheme provides insurance cover up to various employees working under one employer, so long as they remain in service of that employer. The employer enters into a master contract having the insurance company on behalf of all of the employees covered therein. The premium is paid in combine by the employer & the employee. This is paid to the insurance company at a flat rate without taking note of the salary or age of the employee. The insurance cover is on each of the employee's life and in case of injury or death; the compensation attained from the insurance company is paid to the employee or their nominee. As the premium is very low, it is extremely attractive to salaried people in the low income category.