Shriram Life Group Traditional Employee Benefit Plan
Shriram Life Group Traditional Employee Benefit Plan (UIN: 128N054V02) is a non linked non-participating group variable insurance plan. Shriram Life Group Traditional Employee Benefit Plan is an affordable, easy-to-obtain financial security net for you and your loved ones. It has a lump sum payout in case of unfortunate death thereby helping your family reduce their debts.
KEY FEATURES
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Efficiency : Management and administration of employee benefit liabilities in a more efficient manner.
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Safety : Capital guarantee on the fund under management.
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Guaranteed Returns : Minimum guaranteed interest rate of 1% p.a for entire term of the policy.
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Savings : Tax benefits to both Employee and the Employer of the group.
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Additional Returns : Additional interest credits at the end of each quarter.
KEY BENEFITS
Benefits Payable (on exits other than death)
Upon exit of the scheme member from the group due to reason other than death, the amount requested by the group policyholder will be paid to the group policyholder to be able to pay employee benefits as per the scheme rules. This amount will be debited from the Policy account subject to maximum available in the Policy account.
Death Benefits
Upon death of the scheme member the following benefits shall be paid to the group policy holder.
- Any amount requested by the group policyholder to be able to pay employee benefits as per the scheme rules. This amount will be debited from the policy account subject to maximum available in the policy account.
- Life insurance Cover of Rs. 1,000/-
ELIGIBILITY
ENTRY AGE
Minimum
14 Yrs
Maximum
75 Yrs
Maturity AGE
Maximum
76 Yrs
Contribution
Minimum
Rs. 1 Lakhs
Per Policy
Maximum
As per the actuary’s certificate
minimum group size
- 10 Employees
policy term
1 Yr
cover amount
Rs. 1,000 (fixed) Per Member
RIDERS (Add Ons)
No riders available.
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Disclaimer
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For more details on the risk factors, terms and conditions please read the sales brochure and/or sample policy document on our website carefully and/or consult our advisor.
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Tax benefits are subject to change as per tax laws. Please consult your tax consultant on tax benefits.
Read the policy document here