Prices Increasing Soon
Effective from 1 Jan onward, these guidelines will apply to Group Life Insurance Polices/Schemes subscribed to Lender-Borrower group.
In December 2014, the Insurance Regulatory and Development Authority (IRDA) issued guidelines applicable to group insurance policies and schemes executed by institutions acting as group organizers or master policyholders — the scheduled commercial banks regulated by the Reserve Bank of India (RBI), NBFCs with certificate of registration from RBI, and National Housing Bank (NHB)-regulated housing finance companies.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
The guidelines will apply when an individual member of the group life insurance scheme/policy will authorise the life insurance company to pay the outstanding loan balance amount to the master policyholder. The company will do so by deducting the amount from the claim proceeds payable when the contingent event covered by the group policy happens.
These guidelines from IRDAI came into effect on 1 January 2015 and ensure that the individual is covered under a group insurance policy and is financially secure while taking care of the insurer's benefit as well.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
Life insurance fraud is a financial crime that can be committed
Read more
High net worth individuals often opt for life insurance plans to
Read more
“Policy Bazaar insurance clarified the term policy for me, so
Read more
“I recently bought an HDFC term plan and it is the best
Read more
The life insurance policy in India is a type of life insurance
Read moreInsurance
Calculators
Payment Methods
Secured With
Follow us on
