ICAI join hands with LIC to provide Insurance Scheme for Chartered Accountants and Spouses

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The Institute of Chartered Accountants of India ( ICAI ), under the Committee for Capacity Building of Members in ICAI, is facilitating ICAI-LIC Group Insurance Scheme for Chartered Accountants Members and their spouse.

Members between the age of 18 to 64 can join the scheme. The validity period of the life cover is one year. The annual premium to be paid in case of Members for the sum assured of Rs. 10 lacs is specified in the official website of the ICAI.

The following are the features of the insurance scheme.

  • Competitive rate of premium for Insurance.
  • Payment of Premium for a year for getting the Life Insurance coverage.
  • The rate of premium is varying to the mentioned age group.
  • Members aged between 21 years to 64 years are eligible to join the Scheme.
  • Spouse aged between 18 years to 64 years may join the scheme.
  • No Health or Medical Underwriting is required at joining of the scheme.
  • Life Insurance Coverage of Rs. 10 Lacs for the member of ICAI.
  • Life Insurance Coverage of Rs. 5 Lacs for the spouse.
  • Settlement of claims through ICAI.
  • The scheme is renewable on option after 1 year on completion of a due period.