What is GMC and GPA?
What is GMC and GPA?
There are different insurance policies under which the employers cover their employees, and the two most popular ones are – Group Medical Coverage (GMC) and Group Personal Accident Policy (GPA). These policies help employers take care of the expenses they must incur due to unfortunate incidents at the workplace. Oct 19, 2020
How is GMC premium calculated?
The premium for the GMC policy is calculated using the following factors: Size of the group. Demographic Factors (age of the members, income, occupation, etc.) Add-ons and Riders opted under the policy.
Can someone take out a life insurance policy on me without my knowledge?
When you’re getting life insurance, the person whose life will be insured is required to sign the application and give consent. Forging a signature on an application form is punishable under the law. So the answer is no, you can’t get life insurance on someone without telling them, they must consent to it. Mar 24, 2021
Can a 80 year old get life insurance?
Yes, you can buy life insurance for seniors over 80. At 80+, whole life insurance is usually the only kind available. Most seniors at this age only need life insurance to cover funeral costs. You will often see policies at this age referred to as burial insurance plans or final expense insurance. Mar 8, 2022
Does term plan cover natural death?
Death due to natural calamity Death caused due to any natural disaster or act of god like Tsunami, Earthquake, floods, is not covered by Term Insurance, unless, you have opted for any particular riders for that purpose.
