Beneficiary Schemes for CA Members : ICAI Releases 4 Insurance Products
By Navasree A.M - On March 11, 2023 5:10 pm - 2 mins read
The beneficiary plans were made available to ICAI members by the committee and the Institute of Chartered Accountants of India (ICAI). Four new different insurance options were provided to the members for their wellbeing.
HDFC Life Group Poorna Suraksha is a Group Term Insurance plan that ensures financial security of the members’ loved ones in case of death of the Member.
Eligibility criteria for HDFC Life GPS term insurance
Benefits Under the Scheme
Choice of policy term – Member can choose number of years of cover also known as the Policy Term
Choice of Life Insurance Cover – Member can choose life insurance cover starting at Rs. 30 Lac with multiple sum assured options including Rs. 50 Lac, Rs. 75 Lac, Rs. 1 cr and beyond
Flexibility of Premium Payment – Member can pay premium all at once, regularly for each year or pay for a limited duration (5/10/12/15 years).
Cover Continuance – In Case of Member leaving the group; he/she can continue as an individual policy till the expiry of coverage term
Settlement Option – Empowering the Nominee to choose a settlement option. Nominee can choose to receive the benefits over a period of 5-15 years instead of lump sum
Steps to Avail the Scheme
Click on buy HDFC Life GPS Plans
Enter membership credentials
Generate premium quote
Fill up Online web form
Make payment online
Upload KYC, income details
Complete medicals
Policy decision by HDFC Life
Document Required
Standard age proof
Valid income proof
ICICI LOMBARD – RETAIL CYBER POLICY
Retail cyber-insurance is specially designed to protect individuals from a variety of cyber incidents like cyber-extortion, data breach causing identity misuse, business interruption & network damages due to malware attacks, unauthorised transactions and lot more which results in huge expense retail cyber. Cover available up to 1 Crore.
Covers Hospital expenses for admission longer than 24 hours.
Room Rent is restricted to 2% of SI for normal and 4% of SI for ICU.
If insured is admitted in a higher category, then Insured will bear the difference of all medical expenses as in the final hospital bill in the same proportion.
Treatment for, Alcoholism, drug or substance abuse
Any expenses incurred on prosthesis, corrective devices, external durable medical equipment of any kind
ICICI LOMBARD – SUPER TOP UP
This scheme is more similar to ICICI Lombard – Health insurance, however the sum insured is different and also there is a voluntary deductible option.
Sum Insured: 15 Lakhs/ 25 Lakhs/ 50 Lakhs
Voluntarily Deductible: 5 Lakhs / 10 Lakhs
The other insurance products are professional indemnity insurance, LIC Term insurance, Motor vehicle insurance, Householder’s insurance, Medical insurance..etc.
