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Family Protection Scheme

Family Protection Scheme

Product Details Description
Product Name Family Protection Scheme 

This is a Group Whole Life Assurance open to all private companies and corporate bodies for their full-time and permanent employees. The objective of this Scheme is to provide for benefits to the employee’s dependants on his/her death. 

  • Sum assured will increase over the policy term as salary (and hence contribution) increases
  • Minimum age at date of entry is 18 yrs
  • Member can maintain insurance even if he/she leaves employment for any reason
  • Insurance cover continues after a member retires
  • Premium is normally set at 4% of monthly salary, shared equally between Employer and Employee
  • Additional voluntary contributions can also be paid to secure higher sum assured
  • No premium is payable after reaching Normal Retirement Date
  • The Sum Assured on death of a member at any time, shall be payable to the surviving spouse and /or children. In the absence of spouse and children, payment is made to legal personal representatives
  • The Sum Assured may be paid in the form of monthly pension upon request
  • Under specific conditions, the member may opt to cash part or full sum assured on or after attaining 60 yrs
  • No benefit is payable on withdrawal from Scheme
Eligibility  Any private company and corporate body
Required documents 

List of employees with Date of Birth, Gender and salary to be provided by Employer.

Member will be required to fill in Member Entry Form
For more details  Call us on 203 8400 or email us at  and we shall guide you through the application process

Contact person : Rajesh Choony 

 *Terms & Conditions Apply