• Employer employee insurance policies assist the employer in providing additional benefits as
well as protecting the firm's employees.
• The company purchases life insurance on the lives of its Employees, which will provide money
to their family members in event of their premature death and also makes provision for their
old age.
• These Additional benefits will act as sufficient inducement to continue with the present
Employer.
Employer buys insurance for one or more employees Formatted: Centered, Space Before: 0 pt,
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Employee will get the maturity benefit or his nominee will get the death benefit Formatted: Centered
Employer undertakes to assign the policy to the Employee himself is the policy holder,
employee absolutely upon the employee Employer is only paying premiums. Employee
continuation in service for a period specified by can continue to pay premiums on quitting the
the employer (lock-in period) company
After assignment, employee needs to continue Employee can continue to pay premiums on
paying the premiums to keep the policy in force quitting the company
Employee signs as Insured & Employer signs as Application signed by employee as the
Proposer proposed insured and policy holder
AML and KYC required for both Employee and Employer Formatted: Centered, Space Before: 0 pt,
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Current address on the application form should be the Employers address. Formatted: Centered, Space Before: 0 pt,
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No restriction on type or number of employees who can avail of this scheme Formatted: Centered
All plans are allowed in Employer Employee policies (Not applicable for Keyman insurance Formatted: Centered, Space Before: 0 pt,
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(For Key person insurance & Partnership Insurance- Only Pure TERM plans are allowed)
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Underwriting requirements for Employer Employee policy
Employer Employee
memo.pdf