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SHRIRAM LIFE GROUP TRADITIONAL EMPLOYEE BENEFIT PLAN

Shriram Life Group Traditional Employee Benefit Plan (UIN: 128N054V02) is a non-linked non-participating group saving insurance plan. It 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

  • Efficiency : Management and administration of employee benefit liabilities in a more efficient manner.
  • Safety : Capital guarantee on the fund under management.
  • Guaranteed Returns : Minimum guaranteed interest rate of 0.1% p.a for entire term of the policy.
  • Savings : Tax benefits to both Employee and the Employer of the group.
  • Additional Returns : Additional interest credits at the end of each financial year.

KEY BENEFITS

 

Maturity Benefit

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 Benefit

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

(Age last birthday)

MATURITY AGE

Maximum

76 Yrs

(Age last birthday)

CONTRIBUTION

Minimum

Rs. 1 Lakhs

Per Policy

Maximum

As per the actuary’s certificate

MINIMUM GROUP SIZE

  • 10 Employees

POLICY TERM

1 Yr

(Annually Renewable)

COVER AMOUNT

Rs. 1,000 (fixed) Per Member

RIDERS (Add Ons)

No riders available.

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Disclaimers:

  • 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.

  • Tax benefits are subject to change as per tax laws. Please consult your tax consultant on tax benefits.