Financial Daily from THE HINDU group of publications
Friday, Jan 30, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 30, 2004 |
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Money & Banking
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Life Insurance Birla Sun Life group cover for ICAI members K.R. Srivats
New Delhi , Jan. 29 IN what is seen as a first of its kind agreement, the Chartered Accountants Benevolent Fund (CABF) and Birla Sun Life Insurance (BSLI) have inked a memorandum of understanding (MoU) for providing a `Group Protection Solution' to all members of the Institute of Chartered Accountants of India (ICAI). Mr Nani Javeri, CEO, Birla Sun Life, and Mr S.C. Vasudeva, Member-Secretary, CABF, have signed the MoU. The Group Protection Solution is one-year renewable group term life insurance scheme in which no medical examination is required. ICAI members between 21 and 59 years who are willing to join the scheme are required to submit a comprehensive health declaration. The fund is a registered society that has been established to provide financial assistance for maintenance, education or any similar purpose to the members of the institute/their dependents. Currently, the institute has 1,20,000 members. The scheme is optional and amember who opts for this would be eligible to get a life cover of up to Rs 5 lakh and a critical illness plus (covering 13 critical illness) cover of up to Rs 2.5 lakh and an accidental death and dismemberment cover of up to Rs 5 lakh.
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