Corporate Life Insurance
Corporate Life Insurance brings with it multiple offerings. It is a legal requirement for employers. Corporate rates are more affordable and flexible than individual plans and even help your company gain a competitive advantage. That’s because your employees will have the peace of mind that their financial future is being safeguarded while they are employed by your company, and that in the unfortunate case of death or disability, their family can avail tax-free claims. Jubilee Life’s Corporate Life Insurance’s benefits and unique features make it that much easier for you to attract and retain the best and brightest talent the job market has to offer.
Special Group Life Plans
Group Mortgage Protection
Jubilee Life’s Group Mortgage Protection plan is designed to provide protection to the banks/Company’s borrower against the death of individuals who have procured mortgage under the banks/Company’s Mortgage Loan Scheme. Upon the death of the insured Jubilee Life will pay to the bank/Company the outstanding loan amount.
Depositor’s Insurance
This Plan is designed for the depositors/ Account Holders of the bank. In case of death of a depositor/ Account Holder, Jubilee Life will pay the amount equivalent or multiply the account balance to the beneficiary.
Credit Shield
Credit Shield is specially designed to provide financial protection to the cardholder of the bank. Under this plan, in case the cardholder dies or suffers permanent disability, Jubilee Life will pay the balance amount of the cardholder to the bank.
Disclaimer: The above plans give a general outline of the available benefits. For further plan details and eligibility criteria you may consult our Corporate Insurance Department.
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Additional Plans
Group Pay Continuation
Death or disability of a breadwinner often means that the surviving family will have to face difficult financial times. Jubilee Life’s Group Pay Continuation is an insurance plan designed specially to provide monthly income benefit to the employee or the dependents of an insured employee in the event of an employee’s death or disability from the date of death to the date of retirement or up to a specified time period.
Group Provident Fund
This benefit pays an amount equal to or in multiples of the Provident Fund balance to the beneficiaries, in case of death or permanent disability.
Group Loan Protection
Jubilee Life’s Group Loan Protection insurance plan is designed specifically for banks/ financial institutions which provide Running Finance /Personal Loans to their employees. This scheme provides protection against outstanding loan balance to the insured in the case of death or permanent disability.
Critical Illness
In case, an employee is diagnosed as having one of the specified critical illnesses: Artery Surgery, Stroke, Cancer, Renal Failure etc. This benefit will advance the amount payable on death to assist the insured to pay off the expenses incurred against the treatment of critical illness.
Disclaimer: The above plans give a general outline of the available benefits. For further plan details and eligibility criteria you may consult our Corporate Insurance Department.
