Although the premiums for term insurance plans might increase in the near future, a strong drop in demand for these products is not expected as the customer is now more aware of the need for term insurance
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Updated Feb 15, 2021 | 18:57 IST
LIC Group Leave Encashment Plan helps meet employer’s Liability for providing Leave Encashment facility to their employees. The Plan also offers Life Cover Benefit so that in case of death of a group member. LIC Group Leave Encashment Plan | Photo Credit: iStock Images
Key Highlights
Each policy year a Policyholder shall pay Contributions to secure Leave Encashment Benefit as per Scheme Rules and also to provide Life Cover Benefit.
All the Contributions paid by employer/ trustees will be credited to the Policy Account maintained in the name of employer/trustees.
The yield earned on each of the policy account shall be calculated using the money weighted rate of return method at end of each policy year.
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Recently I was at an Emergency Room (luckily nothing too serious) and got to talking with the doctors. One mentioned how he had seen some really interesting stuff during his work at home in South Africa. Not being medically trained, I am glad he didn’t offer descriptions of the “really interesting stuff” he was thinking of. It probably involved fluids that I would prefer stayed inside the body (although I did love Rose George’s Nine Pints, so some description is okay). While I don’t love gory details, I do like reading doctors’ memoirs. I probably started with Atul Gawande’s Complications before I found some of these titles. What follows are some of my favorite memoirs by doctors in different settings.
Clients will not need to wait for medical evidence or the underwriting to be completed
UK mutual insurer Royal London is introducing an Underwrite Later option to any potential customers taking out a life or business policy.
This means the firm will be able to offer cover while medical evidence is being processed.
Clients won’t have to wait for the underwriting assessment to be complete either.
“Eligible customers will have the option to get cover straight away on Life Cover plans up to £3.5m ($4.8m, €4m),” Royal London added.
This will give “advisers and customers confidence” as there won’t be any additional exclusions and the plan can “stay in force up to six months whilst evidence remains outstanding”, it added.