Empower your workforce
with Shriram Life New
Group Gratuity Benefits
Premium Components of Shriram Life New Group Gratuity
The Shriram Life New Group Gratuity plan provides a cost-effective solution for funding gratuity liability while offering tax benefits. It is a unit-linked non-participating group insurance plan that offers comprehensive coverage. The premium paid for the plan can be divided into the following components:
Gratuity
The premium paid towards gratuity is aimed at meeting the future viability of an organization towards the gratuity payable to its employees.
Life Insurance Coverage
The policyholder has the flexibility to opt for life insurance coverage as per their needs and requirements.
Rider Coverage (add-ons):
Besides the basic life insurance cover, the plan also offers additional protection through riders like Shriram Group Critical Illness Rider for which an additional premium needs to be paid.
This is ideal for Employers looking for New Gratuity fund setups, self-managed gratuity funds, or existing gratuity funds managed by another life insurance company looking to transfer to Shriram Life.