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GROUP INSURANCE PLANS
LIC’s Single Premium Group Micro Term Insurance Plan
LIC's Single Premium Group Micro Term Plan is a Non-Linked, Non-Participating Pure Risk Plan offering affordable life cover for homogeneous groups.
LIC's New Group Superannuation Cash Accumulation Plan
LIC's New Group Gratuity Plan provides gratuity benefits and sum assured if the insured dies in service before retirement, given the policy is active.
LIC's One Year Renewable Group Micro Term Assurance Plan
LIC's New One Year Renewal Group Term Plan-I is a Non-Linked, Non-Participating Pure Risk Plan offering affordable life cover for group members.
LIC's Group Post Retirement Medical Benefit Plan
Post-Retirement Medical Benefits Scheme offers medical coverage to retired employees, their spouses, and dependent children.For more ..
LIC's New Group Gratuity Cash Accumulation Plan
LIC's New Group Gratuity Cash Accumulation Plan is a Non-Linked, Non-Participating Group Savings Plan that helps employers fulfill gratuity obligations.
LIC's New Group Leave Encashment Plan
The benefit is paid as salary for unused leave days upon an employee's retirement, resignation, death, or exit per company rules. retirement, resignation or death or any other reason as per company rules.
LIC's New One Year Renewable Group Term Assurance Plan I
LIC's New One Year Renewal Group Term Plan-I is a Non-Linked, Non-Participating Pure Risk Plan offering affordable life cover for group members.
Pradhan Mantri Jeevan Jyoti Bima Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a yearly renewable life insurance scheme covering death from any cause, available to bank/post office account holders aged 18-50.
LIC's Group Accident Benefit Rider
LIC's Accident Benefit Rider is a Non-Linked, Non-Participating Rider offering financial compensation in case of the insured's accidental death. For more information click below
LIC's Group Assurance Plan
Term insurance ensures financial security by paying the sum assured to the nominee upon the policyholder’s demise but offers no maturity benefit. For more information click .
LIC's Single Premium Group Insurance Plan
LIC's Single Premium Group Insurance is a Non-Linked, Non-Participating Plan providing flat life cover on a group member's death during the policy term.
LIC New One Year Renewable Group Term Insurance Plan- II
LIC’s New One Year Renewal Group Term Plan-II is a Non-Linked, Non-Participating Pure Risk Plan offering affordable life cover for group members.
LICs Group Credit Life Insurance Plan
LIC's Group Credit Life Insurance is a Single-Premium, Non-Linked Group Term Plan offering life cover, with the death benefit paid to nominees.
Pension & Group Schemes
- 1. Group Insurance covers a group of lives under one contract. It can be employer- employee group or any other homogeneous group formed for purposes other than obtaining insurance.
- 2. In addition to providing group insurance cover, the P&GS Department also offers Fund management services to the Employer Group through its dedicated Gratuity, Superannuation and Leave Encashment schemes. It provides customized solutions to the customers at a group level. It is also the Annuity Provider for the employees who are retiring or exiting the company.
- 3. The Department provides customized insurance/ benefit administration schemes specifically designed as per respective governments – State and Central.