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Future Generali Group Gratuity Plan

Future Generali Group Gratuity Plan

  • About

    Specifically designed for companies that offer gratuity benefit to their employees

  • Gratuity Benefits

    As per scheme rules

  • Death Benefits

    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

  • Additional Term Cover

    Yes

  • Tax Benefit

    Yes

WHY BUY THIS POLICY?

  • The plan provides flexible options to employers to effectively manage their gratuity liabilities.
  • You get guaranteed returns with Minimum Floor Rate of 1% per annum which is credited quarterly in advance.
  • You also get an additional interest rate that 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 Gratuity Benefit as per the scheme rule will be paid.
  • In the unfortunate event of a member passing away, Death Benefits of Rs. 1,000/- will be paid to his / her family along with Gratuity Benefit as per the scheme rule.

Eligibility

Member’s Age at Entry18 to 69 years Minimum Contribution at Scheme Level 5 Lakhs Minimum - Maximum Sum Assured 1,000/- (Per Member) Fixed Member’s Maximum Age at Maturity70 years
Policy Term (PT)One Year (Renewable) Minimum Size of the Group10 members

 

Charges

  • Mortality Charge will be deducted from the policy account.

Note:

  1. The liability of the Insurer at any time will be limited to the balance in the policy account.
  2. 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 Gratuity Plan (UIN: 133N045V02)

  • 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.
Copyright © 2016. Future Generali India Life Insurance Company Ltd. All Rights Reserved.

Tax benefits are as per Income Tax Act, 1961, and are subject to modifications made thereto from time to time. Insurance is the subject matter of the solicitation. BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS IRDAI clarifies to public that IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.

REGISTERED & CORPORATE OFFICE

Future Generali India Life Insurance Co. Ltd, Indiabulls Finance Centre, Tower 3,6th Floor, Senapati Bapat Marg, Elphinstone(W), Mumbai-400013. IRDAI Registration No: 133. CIN:U66010MH2006PLC165288

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