This is very unique type of income. In case of Death of any IBP, 2% of the company's
turnover of that particular month will be equally divided as life security income
to the nominee of that IBP and also all the business will be transfer to his/her's
- In case of age of 60 years &above, the business partner are 3 direct sponsor
joining are compulsory than only the id will be considered for life security income.
- Only paid & renewed id for second years and respective years will be considered.
- Waiting period to inform the death of the business partner to the company will be
45 days from the death of business partner, after 45 days life security income will
not be considered.
- Life security income will be given to the nominee, after 90days from the death of
- In case the more than one business partner will death in month the 2%company turnover
will be divided equally.
Document required :
- Business partner death certificate.
- Nominee proof id & address.
- Written letter from the nominee.
- Informing the date of the dead of business partner within 45 days from the death
of business partner death.
Security Income :