Covered Benefit

Death Benefit : Normally 36 months (less or more) of annual salary or level amount

Extended Benefit to Death Benefit : It is usually more restricted benefit than that of the general policy in similar type, and is an advance payment of Death Benefit including,

• Total Disability Benefit
  
• Dismemberment Benefit
• Terminal Illness Benefit
  
• Simplified Critical Illness Benefit

Covered Persons

Normally Employee Only

Premium

Rate in per cent to the maximum sum insured which is usually much lower than the personal term life insurance

No-Evidence Limit

The sum insured within the No-evidence limit as determined at the policy inception is automatically accepted by the insurance company without evidence of insurability.  Health Declaration by the participant is not required.  However, the health underwriting process is required for Amount of insurance in excess of No-Evidence Limit which is identical to that of general life insurance. Insurer reserves the right in declining or loading up the premium of excess amount. Financial underwriting is waived as the sum insured of participant is bound by the multiple of his annual salary.

Suicide Exclusion

Normally it is more liberal than that of applicable to Personal Life Insurance Policy The death due to Suicide might be included in policy subject to policy provision.