Life Insurance Corporation of India has announced the launch of Group Post Retirement Medical Benefit Scheme. It has been started with effect from May 02, 2023. The plan is available for any employer with 50 or more employees.
LIC Group Post Retirement Medical Benefit Scheme
LIC Group Post Retirement Medical Benefit Scheme plan is a Non-Linked, Non-Participating, Life, Group Savings Insurance product. According to LIC, the plan helps to meet the employer’s obligation for Post-Retirement Medical Benefit to their employees.
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.
“Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Corporation has announced the launch of its new product on 02nd May, 2023,” LIC said in a regulatory filing.
The product is an addition to the bouquet of LIC’s eleven Group products and one Group Accident Benefit Rider.
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