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Employee’s Group Term Life Insurance
Ganpat University Employees’ Group Term-Life Insurance Policy with sum insured amount equal to 24 times of monthly salary subject to minimum Rs. 10 lac and maximum Rs. 50 lac as sum insured.
GUNI Employees’ Group Term Life Insurance Policy which secures the financial need to secure future for employees’ dependents even in their absence. The current base policy of GUNI Employees Group Term Life Insurance ensures minimum 10 lakhs and maximum 50 lakhs sum insured.
Ganpat University shall bear the cost of term life sum insured of all members as per under mentioned table. The term life policy shall allow to add and remove members in case of joining / resignation during the policy.
| Ganpat University Employees Group Term Life Insurance Policy | ||||
| Year Wise Analysis | ||||
| Year | No. of Lives Covered (at the time of renewal) | Expenditure done by the University (in Rs.) | No. of Claim Disbursed | Disbursed Amount (in Rs.) |
| 2020-21 | 696 | 529416 | 1 | 300000 |
| 2021-22 | 180 | 1040597 | 4 | 3597213 |
| 2022-23 | 930 | 4381870 | 3 | 6310083 |
| 2023-24 | 1075 | 4257105 | 0 | 0 |
| Total Amount (in Rs.) | 10208988 | 8 | 10207296 | |
Total no. of active members as on date are 1075 +