GROUP VARIABLE TERM INSURANCE
The Group Variable Term Insurance is a tailor made insurance policy for third party
institutions. HDFC Standard Life Insurance Company will offer life insurance to
customers of one or more of the third party’s specific products in order that in
the event of their death, there will be a lump sum available.
The Group Variable Term Insurance:
- On death, will pay a lump sum known as a sum assured. The sum assured varies over
time in order that the customer receives the cover that they need
- Is a group policy
- Has no lengthy underwriting procedure
- Is simple to administer
The policy is without any participation in the insurer’s profits.