Group Term Insurance Scheme through LIC
For availing the said Term Insurance through online link: https://cmpbenefits.icai.org/lic-term-insurance/
Committee for Members in Practice (CMP), ICAI
Members are invited to join the Scheme (optional for spouse) through the said online link
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| Salient Features |
- Competitive rate of Premium.
- Annual premium payment for getting the Life Insurance coverage.
- Rate of premium is varying to the mentioned age group.
- Members aged between 18 years to 64 years are eligible to join the Scheme.
- Spouse aged between 18 years to 64 years may join the scheme.
- Applicant should be healthy and disease free while joining the scheme. No Health or Medical Underwriting is required at joining of the scheme.
- Life Insurance Coverage of Rs. 10 Lacs for member of ICAI.
- Life Insurance Coverage of Rs. 5 Lacs for spouse.
- Settlement of claims through ICAI.
- The Insurance Coverage will start from the issuance of Master Policy from LIC.
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| S. No. |
Particulars |
Terms |
| 1. |
Age at entry |
18-64 (For Members) & 18-64 years (For Spouse) |
| 2. |
Validity period of Life Cover |
One year |
| 3. |
Sum Assured |
Rs. 10,00,000/- For the Members of ICAI
Rs 5,00,000/- for the Spouse of the Members of ICAI |
| 4. |
Mode of Premium |
Online Premium payable |
| 5. |
Annual premium to be paid in case of Members for the sum assured of Rs. 10 lacs |
| Age [Completed Years] |
Total Amount Rs. |
| 18-30 |
Rs.630/- plus GST as applicable |
| 31-35 |
Rs.750/- plus GST as applicable |
| 36-40 |
Rs.1000/- plus GST as applicable |
| 41-45 |
Rs.1320/- plus GST as applicable |
| 46-50 |
Rs.2100/- plus GST as applicable |
| 51-55 |
Rs.3840/- plus GST as applicable |
| 56-60 |
Rs.5640/- plus GST as applicable |
| 61-64 |
Rs.6600/- plus GST as applicable |
|
| 6. |
Annual premium to be paid in case of spouse for the sum assured of Rs. 5 lacs |
| Age [Completed Years] |
Total Amount Rs. |
| 18-30 |
Rs.315/- plus GST as applicable |
| 31-35 |
Rs.380/- plus GST as applicable |
| 36-40 |
Rs.500/- plus GST as applicable |
| 41-45 |
Rs.660/- plus GST as applicable |
| 46-50 |
Rs.1050/- plus GST as applicable |
| 51-55 |
Rs.1920/- plus GST as applicable |
| 56-60 |
Rs.2820/- plus GST as applicable |
| 61-64 |
Rs.3300/- plus GST as applicable |
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For availing the said Term Insurance through online link: https://cmpbenefits.icai.org/lic-term-insurance/
Special conditions:
- Scheme is administered by P & GS, Delhi Division of LIC.
- The period of 1 year of coverage starts from the date of insurance coverage given to member.
- Entry to the Scheme is valid duly on confirmation by LIC/ICAI.
- The decision of LIC will be final in all cases of Insurance Coverage and ICAI will not bear any responsibility for the same.
Branch Manager LIC of India
P&GS Department, Delhi Divisional
Office-I, 6th Floor, Jeevan Prakash” 25
K.G. Marg, New Delhi-110001.
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For any other queries, please contact:
Secretary, Committee for Members in Practice (CMP), ICAI,
ICAI Bhawan, Indraprastha Marg,
New Delhi - 110 002
E-mail: cmp@icai.in & ti.ccbmp@icai.in
Note:This is Group Term Insurance Scheme facilitated by Committee for Members in Practice (CMP) ICAI jointly with LIC and recommendatory only. No Individual Policy is issued to the applicant. Coverage of Insurance Scheme is solely subjected to acceptance by LIC. CMP of ICAI is just a facilitator. The processing of Insurance Policy may take substantial time, hence applicants is advise to wait for its confirmation from LIC.
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| JOIN IN THE GROUP PROTECTION SCHEME-INSURE FOR LIFE |
| Last updated on 2nd August, 2022 |
