Group Term Insurance Service for Permanent Employees, including Trainees
Grid Controller of India Limited · Other · open
Key facts
- Tender value: ₹22.5L
- Published: 15 Oct 2026
- Closing date: 26 Oct 2026
- Status: open
- Status as of: 16 Oct 2026 23:23 UTC
- Ministry: Ministry of Power
- Department: Grid Controller of India Limited
- Office: Grid India
Description
Procurement of group term insurance for 645 permanent employees, including trainees, with a total sum insured of 2000000. Coverage includes natural and accidental death, suicide, animal bite, pre-existing illnesses, and other coverage defined in the scope of work. Single premium payment; contract period is 1 year and 1 day.
Eligibility & requirements
- Startup relaxation: No
- MSE relaxation: No
- Certifications: Valid IRDAI registration under the category of Life Insurance Company
- Documents required: Sealed and Signed Bid Security Declaration Form (Section V-Attachment-I), Sealed and Signed Declaration of Compliance of Order on Restrictions under Rule 144 (xi) of the General Financial Rules (GFRs), 2017 (Section V-Attachment-II), Power of Attorney in the name of person who is signing the bid and all forms & attachments, Documents toward Qualifying Requirement as per ITB Clause 3.0, Sealed and signed Scan Copy of Scope of Work and Bill of Quantity, Valid IRDAI registration certificate under the category of Life Insurance Company and latest renewal receipt, Undertaking that the insurer has not been barred by IRDAI from dealing or selling group term/life insurance products, Undertaking that solvency margin is more than 1.5 as on the date of bidding, Undertaking that claim settlement ratio is not less than 98% in the preceding two financial years, Supporting documents to prove eligibility for exemption from experience/turnover criteria, if exemption is sought
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Commercial terms
- Bid type: Two Packet Bid
- Evaluation: Total value wise evaluation
- Make in India (MII): Yes
- MSE preference: Yes
Line items (1)
- Group Term Insurance Service for Permanent Employees, including Trainees — Qty: 1 Lumpsum Based
2 tender document(s) available — sign up to download.
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