Are you running a scheme for your employees that offers benefits like leave encashment that will be payable in the future?
Why Buy This Plan
Are you running a scheme for your employees that offers benefits like leave encashment that will be payable in the future? Since such liabilities increase with time, it may become difficult to pay the benefits as you go. It is therefore beneficial that the employer sets up a separate fund from which these benefits may be paid out.
Aegon Life Insurance now offers a market linked Group Leave Encashment Policy designed to fund for such benefits.
The accrued Leave Encashment benefit is payable on cessation of employment due to death of a Member, as advised by the Policyholder in terms of the provisions of the Trust Deed and the Rules and subject to the availability of sufficient Funds in the Policyholder’s account plus the Sum Assured as applicable for the deceased Member.
Choice of multiple funds with a flexible investment pattern. Group Debt Fund & Group Equity Fund
While you have chosen a fund option, you have the flexibility of switching between our various funds at any time. Switching between the various funds is allowed depending upon your requirements. We allow unlimited switches free of cost every year.
The contributions can be redirected for investments into fund/s of your choice and need not adhere to the initial investment pattern. We allow unlimited redirection requests free of cost.
Portfolio Disclosure of the funds is done on a Quarterly basis. This enables you to achieve better fund management.
Tax benefits are as per the provisions of the Income Tax Act, 1961. Tax laws are subject to change.
Minimum : 18 years age last birthday
Maximum : As specified in the scheme rule subject to maximum of 74 years on last birthday
Minimum : Rs 1,000 per member
Maximum : As defined in the scheme rule
Minimum : 1 year
Maximum : No Limits, however for an indiviual member the term will be subject to a maximum age of 75 Years on last birthday.
Contribution towards leave encashment benefit : Contribution towards Leave Encashment can be paid anytime during the policy term as provided in the scheme rule by the policyholder
Life Insurance Premium : Annual renewal premium
Maximum Age: As specefied in the scheme rule subject to maximum of 75 years age last birthday.
Minimum Life Insurance Premium: Depands on the total Sum Assured for all Member in Scheme.
Maximum Life Insurance Premium: Depands on the total Sum Assured for all Member in Scheme.
Aegon Life Group Leave Encashment Plan UIN:138L037V02
A Unit Linked Policy is subject to different risk factors and the investments in the Segregated Funds are subject to fluctuations in financial markets and other risks. The Unit Price can go up or down depending on the factors and forces affecting the financial markets. The name of the concerned Segregated Fund does not indicate the quality and the past performance of the Fund and is not necessarily indicative of it’s future performance. The Segregated Funds chosen for investment under this Policy do not offer any guaranteed returns. The Investment risk in the investment portfolio is solely borne by the Policyholder.
Insurance is the subject matter of the solicitation
Segregated Fund Identification Number (SFIN)
Group Debt Fund - ULGF00128/03/11GDEBT0138
Group Equity Fund - ULGF00228/03/11GEQUITY0138