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RULESGSLI FORM V LIFE INSURANCE CORPORATION OF DISCLAIM Former (CLAIMING BENEFITS PAYABLE UNDER THE GROUP SAVINGS LINKED INSURANCE SCHEME) (To be completed by the Grantees)1. Name of the Institution:2.

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What Is the Purpose of Group Life Insurance? Group life insurance is a common employee benefit that provides a death benefit to the insured's beneficiaries if they die while part of the organization. The purpose is to provide financial support to the families of such employees.

Group life insurance can be a nice perk of your job, especially if it's free. However, in most cases, employer-provided policies are relatively small compared to what you're likely to need overall in terms of life insurance, so you probably won't want to rely solely on it to cover you in case the worst happens.

Because an insurance provider can spread their risk across a pool of policyholders participating in the group plan, costs are typically lower than other types of health insurance policies. This is considered to be the biggest advantage of group health insurance.

Group life insurance plans provide affordable insurance cover to each member covered in the group. Compared to having individual life insurance plans, group life insurance policy is cost-effective and provides a default life cover to the employees, often as an incentive.

Then your insurer will ask you to submit the following documents: Duly filled claim form. Final hospital bill (Original copy) Doctor's prescription recommending admission to a hospital. Discharge card by hospital. Medical bills. Prescription supporting medical bills. Surgical implant invoice, if any.

The easiest way to file a Group Life insurance claim is to contact the group policyholder. This is generally the employer or association where the coverage was offered. They will be able to provide you with the information needed to ensure your claim is processed quickly and accurately.

In case of death, the amount of assured as applicable to the groups to an employee belongs, will be payable along with the savaings and accumulated interest by LIC. In case of retirement, resignation, termination, etc., the savings accumulated, with interest, will be payable by LIC.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232