Exide Life Group Traditional Employee Benefit Plan

• Reduce taxable income by up to Rs. 1,50,000 deduction under section 80C**
• Convenient payment options - annual, half-yearly, quarterly or monthly premium payments
• Do more with plans that offer pure protection, retirement planning and investment options

The Group Traditional Employee Benefit Plan from Exide Life is a non-linked, non-participating variable insurance policy that builds a retirement corpus via guaranteed returns. Under this plan, the trustee/employee is regarded as the policyholder and the employees are considered as the members. The aim of the plan is to ensure that employee benefits such as gratuity and leave encashment are managed for the employees. The Exide Life Group Traditional Employee Benefit Plan also aids in creating a substantial fund in an effort to ensure that liabilities are discharged in a hassle-free manner by responsible employers.

The Exide Life Group Traditional Employee Benefit Plan has a Minimum Floor Rate through which an interest rate of 1.5% per annum is the minimum guaranteed rate you will receive for the whole tenure of the policy. The plan also has an Additional Interest Rate through which Exide Life will declare a non-zero-positive extra interest rate at the start of each quarter which remains unchanged for that particular quarter.

The Exide Life Group Traditional Employee Benefit Plan also offers tax benefits for employers as well as employees based on the prevailing tax laws. Moreover, Exide Life shall also assist trustees/employers in managing gratuity liabilities, thereby making the Group Traditional Employee Benefit Plan a good option for employer-employee groups.

Eligibility – Who is the Exide Life Group Traditional Employee Benefit Plan for?

To purchase the Exide Life Group Traditional Employee Benefit Plan, employer employee groups must have a certain number of members and each member is required to adhere to the age restrictions. Following are the eligibility criteria that must be satisfied to purchase the Exide Life Group Traditional Employee Benefit Plan:

Sum Assured and Premium Range – What you get and what it costs?

Employer Employee groups that enrol for the Exide Life Group Traditional Employee Benefit Plan will have to insure each member for an amount of money which is called the sum assured, and contributions must be made at regular intervals of time to keep the policy in force. Following are some of the important details you need to know about the Exide Life Group Traditional Employee Benefit Plan:

Plan Coverage – What the Exide Life Group Traditional Employee Benefit Plan Covers?

The Exide Life Group Traditional Employee Benefit Plan provides benefits in the event of the death of a member, or the retirement / resignation / disability / exit owing to other reasons as specified in the policy regulations. Following are some of the key features of the Exide Life Group Traditional Employee Benefit Plan:

Charges and Other Key Features of Exide Life Group Traditional Benefit Plan:

Following are some of the other key features you must know about the Exide Life Group Traditional Benefit Plan:

Tax Benefits – How You Can Save with the Exide Life Group Traditional Benefit Plan?

Customers who purchase the Exide Life Group Traditional Benefit Plan are eligible for tax deductions under Section 80C and Section 10(10D) of the Income Tax Act, 1961. Please note that tax laws are subject to amendments from time to time, which means that your benefits will also be revised when the changes take place.

Why You Should Buy the Exide Life Group Traditional Benefit Plan from Exide Life Insurance?

The Group Traditional Benefit Plan from Exide Life Insurance Company Limited is a great option for employer employee groups who wish to manage their gratuity and leave encashment and whilst ensuring the smooth discharge of liabilities. The company itself is one of the most renowned insurance providers in the country and has several years of experience in the domain. Not only is Exide Life profitable and popular, it also has a customer base ranging to 15 lakh individuals. Headquartered in Bengaluru, the company has assets worth in excess of Rs.9,500 crores. In FY 2015-16 alone, the company recorded total premium income of more than Rs.2,000 crores.

Exide Life Insurance Company Limited distributes its products via several different channels including broking, bancassurance, corporate and other agencies, and with 50,000 quality advisors on its payroll, customers can be sure of not only finding the insurance plan that best suits their requirements, but also resting assured that any concerns they have will be promptly solved by the 24/7 customer care team.