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Group Credit Life Insurance is a reducing term cover. The sum insured can be linked to the loan repayment schedule; which means the insured member will get covered for outstanding loan liability (as per the schedule) by payment of applicable premium.
As per the Gratuity Act of 1972, any establishment with at least 10 employees has a statutory liability for payment of gratuity at a minimum of 15 days of last drawn basic salary + DA, for every completed year of service subject to a maximum of Rs. 10 Lacs under the following circumstances under -:
Insurance is the subject matter of solicitation. Tax benefits are subject to change in tax laws.
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Copyright © 2009 Max Life insurance Co. Ltd. All Rights Reserved.Registered Office: Max House, 1 Dr. Jha Marg, Okhla, New Delhi - 110020.IRDA - Registration No. 104. Insurance is the subject matter of solicitation ARN/Web/01.An ISO 9001:2008 Certified Company.