• Coverage: Minimum group size without rider: 1, with rider: 20.
• Entry age (without riders): Only the permanent employees under the age group of 18-65 , can enter this plan (in some special case the maximum limit can be extended up to 69 years).
• Annual Premium: Minimum- Rs 12 lakh p.a. or Rs.20 lakh at inception. Maximum- No Limit.
• Premium Paying Term: Annual, half yearly, quarterly or monthly.
• Riders Available: Group Term Insurance Rider, Group Double Accident Benefit Rider, Group Permanent Total Disability Rider.

Death Benefit:

• On death of the member, the fund value as on the notification of death will be used to purchase annuity on the life of deceased member. The beneficiary also has an option to take 1/3 rd of the lump-sum amount and purchase annuity with the rest of the fund value.

Retirement Benefits:

• On retirement of the member, the fund value as on notification of retirement will be used to purchase the annuity. The employee also has an option to take 1/3 rd of the lump-sum and purchase annuity with rest of the fund.

Tax Benefit

• Contribution paid by employee is eligible for tax rebates u/s 80 C. The benefits paid on death are exempt from tax.

Tax Benefits:

• The premium paid by an employer is treated as expenses for tax purpose in the year of payment.
• Fringe Benefit tax is not payable for contribution paid up to Rs 1 lakh per employee.

** Charges differ from fund to fund

For further details, please refer to the policy brochure
Rider charges to be deducted on a monthly basis and will depend on the Rider and the cover chosen