Edelweiss Tokio Life – Group employee benefit plan

Group employee benefit plan

  • 01 Life cover of Rs.1000/-
  • 02 Deduction of business expense
  • 03 Provision of interest to be paid to member

plan definition

This group product ensures that your employees’ retirement benefits are well managed with protection of capital and guaranteed return additions every quarter. UIN No: 147N029V01

key features

1benefits payable to the member

 

Death:

On account of unfortunate demise of Member: A fixed Sum Assured of Rs.1,000/- and Benefits, as per scheme rules, are payable.

Other than Death:

On the Member retiring from the services or resigning from the services:

Benefits, as per scheme rules, are payable. The Insurance Company’s maximum liability to make any payment under a Policy in respect of all members at all times shall be limited to the Policy Account Value.

Guaranteed Interest Credit to the Policy Account Value:

Please refer to the sales brochure for details

2benefits to the policyholder

 

A minimum guaranteed Interest rate (minimum floor rate) of 0.5% per annum for the entire term of the policy credited on the balance of the policy account at the beginning of each quarter.

A non - zero positive additional interest rate, which is over and above the minimum floor rate, will be declared every quarter in advance.

Protects against the unforeseen circumstances of benefit payments under employee benefit scheme, such as Gratuity, Leave Encashment benefit payouts etc.

Contribution/ Premium paid by employer is deductible as business expense as per Income Tax Act 1961.

additional resources

product brochure

download pdf

sample contract

download pdf

product disclaimer

read

customer testimonials

eligibility criteria

1 entry age (last birthday)

Minimum: 18 years

Maximum: 80 years 

2 maturity age (last birthday)

Maximum : 81 years

3 Sum Assured

Rs 1,000 per member

4 group size

Minimum Group size : 10

Maximum : No limit

5 Initial contribution

Minimum : Rs.1,00,000/-

Maximum : No limit

customer testimonials

customer testimonials

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