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Future Generali Group Leave Encashment Plan

Future Generali Group Leave Encashment Plan

  • About

    Specifically designed for companies that offer Leave Encashment Benefit to their employees

  • Leave Encashment Benefits

    As per scheme rules

  • Death Benefit

    Rs 1,000/- per annum

  • Member’s Age at Entry

    18 to 69 years

  • Minimum Floor Rate

    1% per annum

  • Minimum Initial Contribution Amount

    Rs 5 Lakhs

  • Mode of Payment

    Yearly/Half-Yearly/Quarterly

  • Minimum Group Size

    10

  • Tax Benefit

    Yes

WHY BUY THIS POLICY?

  • The plan provides employers with flexible options to effectively manage their leave encashment liabilities.
  • You get guaranteed returns with Minimum Floor Rate of 1% per annum which is credited quarterly in advance.
  • You also get Additional interest rate which is over and above the minimum floor rate which is declared in advance for each quarter.
  • You get the expertise of our investment team to manage your fund.

How it Works

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BENEFITS

  • In case of separation of an employee due to any reason, a lump sum amount i.e. the Leave Encashment Benefit as per the scheme rule will be paid.
  • In the unfortunate event of a member passing away, Death Benefits (i.e. Sum Assured) of Rs. 1,000/- will be paid to his / her family along with Leave Encashment Benefit as per the scheme rules.

Target Group
For employer who want to effectively manage their leave encashment liabilities

Eligibility

Member’s Age at Entry 18 to 69 years Minimum Contribution at Scheme Level 5 Lakhs Minimum - Maximum Sum Assured 1,000/- (Per Member) Fixed Member’s Maximum Age at Maturity 70 years
Policy Term (PT)One Year (Renewable) Minimum Size of the Group10 Members

 

Charges

   
Mortality Charge Mortality Charge will be deducted from the policy account.

Note:

  • The liability of the insurer at any time will be limited to the balance in policy account.
  • The Insurer will only be concerned with fund management. The client company will have to bear any shortfall in funds, if it arises at any time.

DISCLAIMERS

Future Generali Group Leave Encashment Plan (UIN: 133N044V02)

  • Tax benefits are subject to change as per tax laws.
  • For more details on risk factors, terms and conditions please read the sales brochure and/ or sample policy document on our website carefully and/ or consult your advisor before concluding the sale.
  • Insurance is subject matter of solicitation.

 

FREE LOOK CANCELLATION:
You have a period of 15 days (30 days if the policy is sold through Distance Marketing Mode) from the date of receipt of the Policy document to review the terms and conditions of the Policy. If you are not satisfied with or disagree with any of the terms and conditions, you have the option to Cancel/withdraw and return the Policy along with a letter (dated and signed) stating your intention to cancel the Policy and reasons for the objections/Cancellation, within this period. Cancellation of Policy and refund of premium is allowed under this provision, whereby the amount payable on such cancellation will be equal to the total premium paid less a proportionate cost of insurance for the period of cover and expenses towards Policy stamp duty and medical examination, if any.

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