Life Insurance
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IndiaFirst Employee Benefit Plan

Group Gratuity & Leave Encashment Plan

      







 
 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Introduction

Power to People

You aspire, you prosper… but you also need to protect your family from any uncertainties of life. You need to ensure that no untoward event upsets the well being of your loved ones.

Organizations work with and exist only because of their employees. No matter what your area of work, the value that individual employees bring to your organization cannot be underestimated.

Our IndiaFirst Employee Benefits Plan helps you to invest the funds set aside to cover your employee liabilities such as Gratuity and Leave Encashment into market linked investments. This plan offers a life cover for all your employees, securing their families against uncertainties of life.

With IndiaFirst Employee Benefit Plan, you can now ensure that your employees receive the benefits they deserve.

 

Key Features

Master Policyholder

  • You can now manage your future employee liabilities such as Gratuity and Leave Encashment through a transparent and value for money plan.
  • The plan offers a uniform life cover of Rs.1,000 for all your employees, securing their families against uncertainties of life.
  • You may optimize your investment returns by choosing between four funds across asset classes.
  • Additionally under,

    Gratuity

    • You may choose to cover the future service gratuity benefit of all your employees.
    • Your contribution is a deductible business expense*
    • Gratuity benefits are tax free up to Rs.10,00,000 in the hands of the employee.
    • Any death benefit under the group insurance is tax exempt under section 10 (10D) of the Income Tax Act 1961.

    Leave Encashment

    • You may choose to cover the leave encashment liability of all your employees.
    • You may provide a perfect balance between a life cover for all your employees and best in class investment of Leave Encashment liability contributions.

 

Risk Factors

  • The premium/ contribution paid in unit linked life insurance plans are subject to investment risks associated with capital markets and are not guaranteed.
  • The value of the units may go up or down based on the performance of the fund.
  • Factors influencing the capital market also affect the value. Hence, you are responsible for all your decisions.
  • The past performance of funds does not necessarily indicate the future performance of any of the funds provided under this plan.
  • IndiaFirst Employee Benefits Plan does not participate in the profits made by the company.
  • Payment of Gratuity liability other than life cover benefit will be limited to the fund value.
  • Tax benefits are subject to changes in tax laws.