Srinagar, May 05: Life Insurance Corporation of India introduced Group Post Retirement Medical Benefit Scheme with effect from May 2.
“This plan is a Non-Linked, Non-Participating, Life, Group Savings Insurance product and helps to meet the employer’s obligation for Post-Retirement Medical Benefit to their employees,” the company said in a statement. “The plan also offers a fixed Life Cover Benefit (Sum Assured) to each member. Any employer willing to fund for their Employees’ Benefit may adopt the scheme.”
The plan is available for any employer with 50 or more employees, it said, adding, “The product is an addition to the bouquet of LIC’s eleven Group products and one Group Accident Benefit Rider.”
