Life Insurance Products



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Product Information
Group Plans Max Life Group Gratuity Premier Plan
Synopsis:
A plan is one such great employee retention tool which facilitates employers to fund their gratuity liability through good market-linked returns. This plan helps you to deliver long term results for your investments depending upon the performance of the funds chosen by you.

Features:

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  • Meet your obligations under the Payment of Gratuity Act 1972 with good market-linked returns
  • Pay low maintenance charges with good market-linked returns
  • Manage large scale gratuity payment effectively with complete assistance from the company

Benefits:

  • Death Benefit -Payable on death provided the policy is in force
  • Maturity Benefit - Payable on retirement or resignation of a member from employment
  • Termination or Surrendering Benefits -On termination or surrendering the policy, your employee will receive the fund value at that time after deducting the applicable surrender charges.
  • Loyalty Additions -Additional benefits payable only in case the policy is in force
Eligibility:
Minimum Contribution : Rs. 500,000
Maximum Contribution : No Limit , as per actuarial valuation AS-15(R)
Life Insurance Cover : Fixed life insurance cover of Rs. 1,000 per member
Minimum Group Size: 10 at time of choosing scheme
Maximum Group Size: No limit
Policy Term : One Year Renewable Scheme
Minimum Entry Ages for employees : 18 Years
Maximum Entry Ages for employees : 74 Years
Maximum cover ceasing age : 75 Years