Aviva Corporate Shield Plus
Aviva Corporate Shield Plus is a group term insurance plan that provides benefits in lieu of the employee deposit linked insurance (EDLI).
It aims to :
- Compensate family members/dependants for the financial loss arising due to the death of an employee of the organization.
- Provide protection with minimum formalities and without undergoing any medical tests.
Master Policy holder: Employer/Corporate
Minimum Entry Age: 18 years
Maximum Entry Age: 74 years
Minimum Sum Assured: Rs. 3,60,000/-
Maximum Sum Assured: Rs. 10,00,000/-
Policy Term: 1 year; renewable every year (OYRGTA)
Premium Payment Frequency: Annually, half yearly, quarterly or monthly
Annual Premium: Depends on the group size, the age distribution of your members, their occupations etc.
Minimum premium per scheme: Rs. 15,000/-
Riders Available: Group Double Accident Benefit (DAB) Rider (UIN: 122B006V02)
What are the employees (members) going to get?
In case of death of the insured employee, the sum assured will be paid to the master policyholder, who in turn, will settle the account with the beneficiary of the insured member. If the master policyholder opts for DAB rider, an additional amount equal to the Sum Assured shall be paid in case of accidental death of the insured member.
What is the organisation going get?
Tax benefits are as per the provisions of the Income Tax Act, 1961. Tax laws are subject to change.