|Revive Lapse Policy?|
|Minimum age at entry :|
|For education Loan :||14 years|
|For any other type of loan (except education loan) :||18 years|
|Maximum age at entry :||75 years|
|Maximum age at Maturity :||77 years|
|Minimum Policy Term :||2 years|
|Maximum Policy Term :||40 years|
|Minimum group size :||50 members within a policy year|
|Maximum group size :||No limits|
|Minimum face amount :||Rs. 5000 per member|
|Maximum face amount :||No Limit, but subject to underwriting|
|Minimum Premium :||Rs. 0.81 per member assuming standard life and excluding taxes, cesses, and levies as imposed by the Government|
|Maximum Premium :||No Limit|
|More Points to be noted :||This policy covers both natural and accidental death-causing events.
There should be a clear relationship between individual members and the group policyholder.
The policyholder will have a legal authority to act on behalf of all the members of the group under the group insurance contract.
No group should have been formed for the sole purpose of taking the insurance coverage.