altGroup Lifealt

Group Life insurance covers death of the employees due to any cause and also disability due to accident or sickness.

Group Means a Homogenous group – normally for all employees of a company without selection.There must be a minimum of 15 employees to be covered and the employer is the one who insures their employees.

Group Life is for employees above 18 years of age and below 65 years of age. The cover ceases on employee attaining 65 years of age and the scope of cover is Worldwide for 24 Hours.

Category of employees are categorized according to nature of their occupation. Briefly

  • The white collared employees namely, working in Banks, Software Companies, Doctors, Lawyers, Teachers and other office employees can be termed as Category I
  • Commercial Travelers, workers engaged in manual labour, Industrial workers who are working in Non-Hazardous factories and environment – Category II
  • Workers associated with high tension electrical equipments , gas cylinders and similar hazardous occupation – Category III
  • Miners, those who are engaged in hazardous sports and professional sports persons – Category IV

Benefits Covered

  1. Death by any case
  2. Accidental death benefit
  3. Permanent total disablement(accident)
  4. Permanent total disablement(sickness)
  5. Permanent partial disablement(accident)
  6. Permanent partial disablement(sickness)
  7. Temporary total disablement(accident)
  8. Temporary total disablement(sickness)
  9. Repatriation expenses with a limit
  • Benefit 1 is compulsory and others are optional
  • Benefit 2 is optional and when taken, for death due to accident additional sum insured is payable. i.e. twice the sum insured
  • Benefits 3,5 and 7 can be taken together – 3 is compulsory for 5, and 3 & 5 are compulsory for 7
  • Benefits 3 to 8 can be taken together – apart from the above, 4 is compulsory for 6 and 4 & 6 are compulsory for 8
Repatriation Benefit can be added to any of the combination of covers chosen as explained above.