Get All-Round Coverage for
Your Employees with Shriram
Life Group Traditional
Employee Benefits Plan
Premium Components for Shriram Life Group Traditional Employee Benefits Plan
Shriram Life Group Traditional Employee Benefit Plan is a non-linked, non-participating group saving insurance plan designed to provide financial security for employees and their families. Here are the premium components in detail:
Corpus Payable Option:
Upon the demise of policy holder, the group policy holder will receive any amount requested to pay employee benefits as per the scheme rules, debited from the policy account subject to the maximum available in the policy account, along with a life insurance cover of ₹1,000.
Maturity Benefit Option
There is no maturity benefit under this policy. Upon exit of a scheme member from the group for reasons other than demise, the amount requested by the group policy holder will be paid to the group policy holder to be able to pay employee benefits as per the scheme rules. This amount will be debited from the policy account subject to the maximum available in the policy account.
Both employees and employers can enjoy tax benefits under this plan, making it a more attractive option for managing employee benefits.
Return of Purchase Price
The policy provides a minimum interest rate of 0.1% p.a. for the entire term of the policy, ensuring stable returns on your savings.
The plan provides capital on the fund under management, ensuring that your investments are secure.
This plan enables employers to manage and administer employee benefit liabilities, such as gratuity and leave encashment, more efficiently.*This plan does not provide any rider benefits to its policy holders.