IndiaFirst Life Employee Welfare Policy

When their priorities become yours

IndiaFirst Life Employee Welfare Plan is a traditional variable non-linked, non-participating fund based group insurance plan. Manages employee benefits like leave encashment, gratuity and pre and post-retirement Medical expenses for your employees.

Reasons to buy IndiaFirst Life Employee Welfare Plan

  • Manage employee benefits and earn easy returns by providing security on leave encashment, gratuity and pre and post-retirement Medical expenses under separate policies
  • Enjoy a minimum return of 1% per annum on your investments basis the Minimum Floor Rate (MFR)
  • Earn an additional interest on your earnings as declared by us at the start of every financial quarter through Additional Interest Rate (AIR)
  • Safeguard your resources with the help of an additional life cover through our IndiaFirst Group Term Plan
  • Option to avail Additional funding on initial contribution
  • Death benefit (under group insurance) is tax exempted under Section 10 (10D), provided a trust is formed for rebate
  • Gratuity benefits are tax free up to Rs. 20,00,000 under section 10(10) for the member
  • Non-zero positive Residual Additions, if any, shall be credited to Policy Account in order to meet the maximum reduction in yield at the end of each membership year starting from the fifth membership year

What are the eligibility criteria?

  • Minimum age at entry is 18 years and maximum age at entry is 75 years
  • No minimum age at normal exit and maximum age at normal exit is 76 years
  • Minimum group size is 10 members and no limit on maximum group size
  • Minimum annual contribution is Rs 1,00,000 and No limit on the maximum annual contribution
  • No limit on the size of fund
  • A fixed life cover of Rs 5000 as death benefit under Gratuity, Leave encashment with a Rs. 5 life cover premium, per member, per year

Want more details on how this product may help you

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