Sorry! Currently there are no Group Offers available for you .
Overview
Life is unpredictable, and every individual wants to ensure that his loved ones do not face any financial hardships, in case anything were to happen to him. This is where a group term insurance comes into picture and plays a crucial role in providing financial security at a substantial cost, to the family of an insured. Under this group term insurance policy, a lump sum death benefit is paid to the family of the insured in the unfortunate event of his death.
Reasons To Buy Group Term Life Insurance
Exclusions
- No critical illness benefit shall be paid on diagnosis of critical illness due to attempted suicide, or intentional self-inflicted injury, within one year from the date of commencement of membership.
- There is a waiting period of 90 days applicable on critical illness, from the date of commencement of the policy.
- If the insured commits or attempts a criminal act, whether alone or with anybody else.
- AIDS, any AIDS-related illness or HIV infection.
- Alcohol or solvent abuse or taking of drugs, narcotics or psychotropic substances unless taken in accordance with the lawful directions and prescription of a registered medical practitioner
- Alcohol or solvent abuse or taking of drugs, narcotics or psychotropic substances unless taken in accordance with the lawful directions and prescription of a registered medical practitioner
- War, invasion, act of foreign enemy, hostilities (whether war be declared or not), armed or Unarmed truce, civil war, mutiny, rebellion, revolution, insurrection, military or usurped power, riot or civil commotion, strikes
- Taking part in any naval, military or air force operation during peace time
- Engaging in or taking part in hazardous activities, including but not limited to, diving or riding or any kind of race; martial arts; hunting; mountaineering; parachuting; bungee-jumping; underwater activities involving the use of breathing apparatus or not. Hazardous Activities mean any sport or pursuit or hobby, which is potentially dangerous to the Insured Member whether he is trained or not
- Participation by the insured person in any flying activity, except as a bona fide, fare-paying passenger of a recognized airline on regular routes and on a scheduled timetable
- Any Pre-existing medical condition. “Pre-existing medical condition” definition will be as per health regulation.
Why Choose Finserv Markets
How to Apply for Group Term Life Insurance
No rocket science here! Follow 3 simple steps and you’re done
-
Verify/Edit Your Details
-
Make Payment
-
Policy Issued
Claim Process for Group Term Life Insurance
Filing claims was never so simple. Just follow these steps and you’re done!
-
1
Register your claim online
-
2
Upload documents online
-
3
Claim Assessment
-
4
Claim Decision
Family/nominee should contact Finserv Markets who will work with Bajaj Allianz for a speedy claims processing. The claim can be raised within 30 days after the requisite documents are ready with Finserv Markets, from where claim request can be taken after checking the documents and the same will then be sent to Insurance servicing department at TCS Bhosari – Centralized ops. Once Bajaj Allianz Life Insurance Corporation (BALIC) receives all the documents, the same will be processed within 30-60 working days of time frame to settle the claim.
- Term insurance comparison
- How much return to expect from a term insurance
- Difference between term insurance and life insurance
- Term insurance tax benefits
- Difference between term plan and endowment plan
- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBU)
- Types of term insurance plans
- How to choose term insurance for 1 Crore
- Term insurance claim settlement ratio
- 5 ways to reduce term insurance premium
- Is term insurance worth it
- How does term insurance work
- Benefits of choosing lumpsum payout in term insurance
- How is term insurance premium calculated
- Aam Aadmi Bima Yojana
- ULIP vs Term Insurance
Manage all your Group Term Life insurance Queries here
-
✔️What does Group Term Life insurance mean?
A single life insurance policy which covers a group of people is known as a Group Term Life -
✔️What is meant by group insurance?
A group insurance is one master policy that covers all the members of a group under it. An individual must be part of that group in order to be able to take group insurance. A group can consist of lawyers, members of credit societies, doctors, members of cooperative banks, etc. -
✔️What are the benefits of a Group Term Life Insurance?
A Group Term Life Insurance is a very beneficial insurance policy for two major reasons: (a) It provides a lump sum benefit amount in case of the death of an insured (2) The premium amount for the insurance policy under a group plan is substantially affordable as compared to that of an individual term life insurance plan. -
✔️What is the policy term of a Group Term Life Insurance?
This Group Term Life Insurance policy is issued for a period of one year and can be renewed every year. -
✔️Why should I choose Group Term Life Insurance?
You should choose a Group Term Life Insurance for the following reasons: (1) The plan offers a life insurance cover at subsidized premiums (2) Individuals who might otherwise not be able to get insured under an individual term life insurance policy become eligible to get a life cover as part of the group. (3) Group Term Life Insurance is substantially affordable than an individual retail term life insurance policy. (4) No medical examination required even for higher sum assured.
Happy Customers of Finserv MARKETS
I am passionate about the vehicle I drive. I want to protect it with the best available option. What amazed me was the full transparency, quick quotes and the attractive discount on the premium while choosing the annual payment option!
My husband and I will finally move into our own house this Diwali. All thanks to Bajaj Finserv, with competitive interest rates, minimal processing fees and easy to repay EMIs, our dream saw the light of reality in no time!
Kids grow up fast and to fulfill their dream trip to Disneyland I had everything but instant funds. With no collateral or guarantor required and a hassle-free processing, I gifted my family a memorable trip to Orlando with just a click!
The best way to start looking for health insurance is to do a close study of the coverage needs and checking the insurance company's claim ratio. No unnecessary jargons, easy to apply claims process and choice of premia!
I bought my first iPhone using my Bajaj Finserv EMI Network Card. Zero downpayment with a No cost EMI on Bajaj Finserv EMI store just made my day!
Getting a loan to take care of my wedding and relieving my parents to enjoy the occasion was the best decision I ever made. Easy-to-apply, amazing interest rate and quick disbursal, what more can one ask for!