(A Non-Linked NonParticipating Group Pure Risk Premium Micro Life Insurance plan)

UIN: 165N008V01

Digit Life Group Micro Term Life Insurance offers affordable protection to members of an organisation or association. In case of an unfortunate event, it provides a lump sum death benefit to the nominee, ensuring the insured member’s family is financially protected.

The plan is designed for employer-employee groups, affinity groups, and lender-borrower arrangements, making it suitable for businesses, professional associations, and financial institutions alike.

It also comes with optional add-on covers like accidental death and disability, critical illness, and hospitalisation, helping organisations build a customised protection package for their members.

Employer-Employee Groups

Non-Employer-Employee Affinity Groups

Lender-Borrower Arrangements

Death Benefit

Digit Life Group Micro Term Life Insurance offers a base death benefit that provides financial protection to the nominee in case of the insured member’s unfortunate demise during the coverage term. Before the coverage begins, members can choose between two options: 

• Term Insurance - If the insured member passes away during the coverage term, a lump sum death benefit will be paid to the nominee, provided all due premiums have been paid. This is a pure protection benefit, meaning there is no payout if the member survives the policy term and no maturity or survival benefit is included.
• Term Insurance with Return of Premium (TROP) - Death benefit will be paid if the member passes away during the term, and returns all premiums paid if the member (or both lives in case of joint cover) survives till the end of the term.

Each member under the group policy can select a different sum assured, which is fixed at the start of coverage. Once the death benefit is paid, the member’s coverage ends immediately. The payout amount depends on the type of coverage chosen:

• Level Cover: The full sum assured is paid as a lump sum to the nominee upon the insured member’s death during the coverage term. 
• Decreasing Cover/Flexi Cover: The payout will be the applicable sum assured as per the pre-agreed schedule chosen at the start of the member’s coverage. This ensures that the benefit amount aligns with the coverage structure selected by the member, offering flexibility based on individual financial planning needs.

Accelerated Critical Illness (CI) Benefit

If the insured member is diagnosed with a covered critical illness, a lump sum amount is paid.

• This payout is subject to a 90-day waiting period and a 30-day survival period.
• The amount paid is part of the death benefit, not in addition to it. It simply allows early access to the sum assured.
• If the CI benefit equals the full death benefit, the policy ends after the payout.
• If the CI benefit is less than the death benefit, the remaining death benefit is reduced by the amount paid, and other benefits continue.
• Premiums will vary depending on the optional benefits selected.

The Accelerated Critical Illness (CI) Benefit provides a lump sum payout if the insured member is diagnosed with a covered critical illness, based on the CI variant chosen. In case of joint life cover, the benefit is paid when either of the two lives is first diagnosed with a critical illness. The payout amount depends on the type of coverage selected, under:

• Level Cover: The full CI sum assured equal to the death benefit is paid in advance. 
• Decreasing or Flexi Cover: The CI sum assured is based on the current value of the death benefit as per the pre-agreed schedule set at the start of coverage. This benefit allows early access to the sum assured and helps ease financial stress during a critical illness.

Additional Critical Illness (CI) Benefit

The Additional Critical Illness Benefit provides extra financial support if the insured member is diagnosed with a covered critical illness. After a 90-day waiting period and a 30-day survival period, a lump sum amount equal to the CI sum assured is paid. This is an additional payout, separate from the death benefit.

Once this benefit is paid, coverage for the CI benefit ends. Still, the member continues to be covered under the death benefit and any other optional benefits for the rest of the policy term.

The payout amount depends on the coverage type:

• Level Cover: The full CI sum assured is paid.
• Decreasing or Flexi Cover: The payout is based on the sum assured as per the schedule agreed at the start of coverage.

This benefit is available for both individual and joint life covers. In joint life cases, the payout is made when either of the two lives is first diagnosed with a critical illness.

Note: CI claims are only accepted if the illness is diagnosed for the first time and is not related to any pre-existing condition. No CI benefit will be paid if the policy is in a lapsed status. After a CI claim is paid, no further CI claims will be accepted for related or dependent illnesses.

1. Customisable

• Choose from Single or Joint Life Cover Option
• Provides different options for Death Benefit Payout: Lumpsum, Regular Income or a combination of both.
• Option of Level, Decreasing or Flexi Coverage type.
• Provides Inbuilt Optional Benefits like Accidental Death Benefit, Terminal Illness Benefit, Critical Illness Benefit.
• Customise coverage as per your preference and a premium that suits your customers.

2. Tech-Enabled, Smooth Processes 

• 100% digital and paperless processes.
• Direct API Integration with your organisation for faster processes.
• Relaxed Health Underwriting through video MER (Medical Examination Report) for large loan amounts. This minimises the hassle of medical tests.

3. Aligned with Your Business

• In case of favourable claims experience a part of the premium is refunded to the master policyholder, depending on the terms as mutually agreed.

• Flexibility to choose your premium payment frequency, whether it's annual, half-yearly, quarterly, or monthly, enabling you to manage your cash flow efficiently.

• If TROP option is chosen, there is a return of all the premiums received for death benefit to the insured member in case there is no death claim and member survives till the end of coverage term, thus strengthening your relationship with your customers.

4. Wellness Benefits

• 15+ Wellness Benefits to the insured members to incentivize them for taking care of their health and maintaining healthy lifestyle through such wellness measures.
• These benefits include unlimited video doctor consultation, discounts on medicines, lab services facilitation, etc.
• Wellness Benefits also include Wellness Coach to help the insured members in proactively managing their health. This includes weight management, activity and fitness, dietary plans, alcohol rehabilitation.

Profit-Sharing Option

Wellness Benefits

With your Digit Life Insurance, you also get exclusive access to a wide range of wellness perks, making taking care of yourself easier and more affordable.

• Doctor-on-Call

• Wellness Coach

• Lab Services and Imaging (For Diagnostic Services)

• Pharmacy (Home Delivery)

• Vital/Physical Activity Monitoring Services

• Reminder Notifications

• Medical Wallet

• Medical Report Aggregator

• Home Care Service

• Ambulance Arrangement Services

• Pick-up and Drop Services for Consultation

• Prioritising Appointments

• Mental wellbeing

• Physiotherapy

• Childcare/Children's activities

• Out-Patient (OPD) Services

• Fitness

Note: These services are not part of your insurance coverage. Usage is entirely optional and paid for by the user.

Accidental Death

Accidental Total and Permanent Disability

Accidental Temporary Total Disability

Hospitalisation Due to Accident

• We supported 14,218 claimants under our micro-insurance offerings in FY'25. Compare that to 455 claims the year before, representing a game-changing 30x growth.
• Claim disbursals increased from ₹24.24 million to ₹758.78 million.

Adding New Members to the Policy

Group insurance policies allow for the inclusion of new members during the policy term. Here's how the process works:

• New members may be added to the policy at any well-defined date during the year.
• Premiums for added members must be paid in advance, along with any applicable levies, taxes, duties, or surcharges.
• The master policyholder should notify the Company of new joiners—preferably within 45 days of their eligibility.
• Coverage for new members starts from the earlier of:
• The member’s date of joining, or
• The date the company is notified.
• The insurer will assess the addition request based on its current underwriting guidelines and reserves the right to accept or decline coverage.
• The insurance company may choose to stop accepting new members by giving a 30-day notice to the master policyholder.

Removing Members from the Policy

Member deletions may occur due to resignation, retirement, or other non-death-related reasons. The policy outlines two scenarios:

1. Premium Paid by Master Policyholder

If a member exits the scheme during the coverage term, the insurer will refund the unexpired risk premium (surrender value) to the master policyholder. Coverage for the member will cease from the date of exit.

2. Premium Paid by Individual Member

If the member has paid the premium themselves, they are entitled to continue coverage under the original terms of the policy. However, they may choose to discontinue coverage by formally notifying the insurance company.

Grace Period

A grace period gives you extra time to pay overdue premiums without losing coverage. If you pay monthly, you get 15 days. For other payment frequencies, you get 30 days. During this time, your coverage continues as usual. If a claimable event occurs:

• For premiums paid by the master policyholder, the benefit is paid upon receipt of the overdue premium.
• For premiums paid by the member, the benefit is paid after deducting the unpaid premium.

If the master policyholder collects the premium within the grace period but delays remitting it to the insurer, coverage still continues, provided the member has proof of payment.

Free Look Period

This is your chance to review the policy and cancel it if you’re not satisfied.

• At the master policy level, cancellation must be requested within 30 days of receiving the policy document. The insurer will refund the premium after deducting applicable charges. Coverage for all members will end.
• At the member level, individuals can return their Certificate of Insurance within 30 days. The insurer will refund the premium after similar deductions, and coverage for that member will stop. All free-look requests must be submitted by the master policyholder.

Lapse and Reduced Paid-Up Provisions

If premiums aren’t paid within the grace period, the policy may lapse or become reduced paid-up.

• Term Insurance options, the policy lapses and no benefits are paid until it’s revived.
• TROP (Term Return of Premium) options, if at least two years of premiums are paid, the policy becomes reduced paid-up. This means benefits are scaled down based on how many premiums were paid. You’ll still receive a portion of the sum assured and maturity benefit, calculated using a defined formula.

Surrender Provisions

Reinstating Lapsed Coverage

Lapsed or reduced paid-up policies can be revived within five years from the first unpaid premium date. The insurer will collect all due premiums and any late fees. The late fee is based on a revival interest rate, which is reviewed twice a year.

The Digit Life Group Micro Term Life Insurance plan is a carefully structured, ultra-flexible group protection solution. It provides affordable baseline coverage, plus scalable optional benefits, ideal for microgroup members, self-help groups, or affinity networks. With smart customisation, thoughtful rider structure, and trust-building support features like TROP and wellness services, it stands out as a meaningful tool for financial security in organised group contexts.