Banaras Hindu University Group Term Insurance Tender Varansi Uttar Pradesh 2026 ISO/IS Standards for Employee Life Coverage

Tender Overview

Banaras Hindu University, Department of Higher Education, Varansi, Uttar Pradesh, seeks Group Term Insurance Service for Permanent Employees and Faculty covering natural death, accidental death, suicide, animal bite, and pre-existing illnesses. The project value is ₹61,719,492.00 with an EMD of ₹1,234,389. There are 0 BOQ items listed, indicating a framework-based allocation. The tender includes an option clause allowing ±25% adjustment in contract quantity or duration at contract issuance and within the contract period, requiring bidders to accept revised quantities/durations. This procurement targets comprehensive life coverage rather than a single policy, emphasizing risk pooling for a large workforce. Key differentiator is the combined benefit scope for both permanent employees and faculty under one BHU procurement,
with a focus on robust claims processing and timely payout as part of the policy terms.

Technical Specifications & Requirements

• Group Term Insurance Service scope targeting Permanent Employees and Faculty at BHU, Varansi (UP).
• Estimated value: ₹61,719,492.00; EMD: ₹1,234,389 (tender security).
• No BOQ items available; organization relies on insurance provider to propose policy terms meeting BHU risk pool.
• Tender includes an ATC option clause: contract quantity/duration may be increased/decreased up to 25%; bidders must accept revised scope.
• Coverage categories implied: natural death, accidental death, suicide, animal bite, pre-existing illnesses.
• No explicit technical standards listed; bidders should align with standard life insurance policy frameworks and BHU compliance norms.
• Likely expectation for rapid claims settlement and clear policy wording to suit a large, diverse employee base.

Terms, Conditions & Eligibility

• EMD: ₹1,234,389 (deposit or equivalent as per ATC).
• Estimated contract value: ₹61,719,492.
• Quantity/duration adjustment: ±25% at bid issuance and during contract; acceptance required.
• No BOQ; scope based on hospital/university coverage needs and BHU policy framework.
• No explicit delivery schedule or payment terms provided in data; bidders should anticipate standard life insurance contract cycles and BHU payment processes as per ATC.
• Submission requirements to be clarified in ATC document; bidders must meet eligibility criteria outlined therein.