|
|
|
|
|
|
|
Insurance Company
|
Reliance Life Insurance Co Ltd
|
|
Plan Name
|
Reliance Group Leave Encashment Plan
|
|
Plan Nature
|
ULIP
|
|
Plan Category
|
Pension
|
|
UIN No.
|
121L027V01
|
|
About Plan
|
Reliance Group Leave Encashment Plan, which ensures that the Leave Encashment liability of the employer, as and when they occur, is most effectively met.
|
|
|
|
|
|
|
|
Minimum Entry Age
|
18 YEARS LAST BIRTHDAY(EMPLOYEES)
|
|
Maximum Entry Age
|
64 YEARS LAST BIRTHDAY(EMPLOYEE)
|
|
Maximum Maturity Age
|
65 YEARS
|
|
Minimum Policy Term
|
1 YEARS
|
|
Minimum Sum Assured
|
RS.1000/- PER EMPLOYEE
|
|
Maximum Sum Assured
|
RS.100000/- PER EMPLOYEE
|
|
|
|
|
|
|
|
|
|
Benefits
|
|
|
| Particulars | Description |
|
Death Benefits
|
This benefit is based on the last drawn annual salary andleave balance of the Employee as on the date of thedeath / disability. The leave balance is typically subjectto a maximum accumulation and encashment. Upon death of an employee, an additional death benefit is payable under this plan. The additional death benefit is equal to the sum assured chosen for the concerned employee by the employer, which is subjected to a minimum of Rs.1,000 per employee.
|
|
Switch Benefit
|
The employer is allowed to effect 52 fund switches free of cost every year.
|
|
Surrender Benefit
|
If the employer decides to surrender their policy, Reliance Life Insurance Company Ltd. will pay a surrender benefit equal to the fund value on the date of surrender minus the applicable surrender charges, if any.
|
|
Retirement Benefit
|
This benefit is based on last drawn annual salary and leave balance of the Employee as on the date of retirement. The leave balance is typically subject to a maximum accumulationand encashment.
|
|
|
|
Tax Benefits
|
|
|
| Section | Description |
|
SEC 10 (10)D
|
Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
|
|
|
|
|
|
|
|
|
|
|
|
Flexible Investment Options, that offers an opportunity to spread your investment risk across a range of investment options made available to you, depending on your risk appetite and your investment objectives.
|
|
Switching of funds: Transferring (switching) assets from one investment fund to another can be done any time. You can make up to 52 switches free of charge each year.
|
|
Reliance Group Leave Encashment plan, you can manage your employeesÆ funds better, providing security alongside growth. Now you can strike the perfect balance between providing protection cover on lives of your employees and gaining an optimum utilization of the leave Encashment Liability contributions, while we manage your investment efficiently.
|
|
This benefit is based on the last drawn annual salary, leave balance and leave actually encashed by the Employee as at the end of financial year of the company.
|
|
This benefit is equal to last drawn annual salary and leave balance of the Employee as on the date of resignation / early termination. The leave balance will be subject to maximum accumulation allowed and encashed.
|
|
This benefit is based on last drawn annual salary and leave balance of the Employee as on the date of retirement. The leave balance will be subject to maximum accumulation allowed and encashed.
|
|
This benefit is based on the last drawn annual salary and leave balance of the Employee as on the date of the death / disability. The leave balance is typically subjected to a maximum accumulation and encashment.
|
|
Upon death of an employee, an additional death benefit is payable under this plan. The additional death benefit is equal to the sum assured chosen for the concerned employee by the employer, which is subjected to a minimum of Rs.1,000 per employee and maximum of Rs. 100,000 per employee.
|
|
If the employer decides to surrender its policy, Reliance Life Insurance Company Ltd. will pay a surrender benefit equal to the fund value on the date of surrender minus the applicable surrender charges, if any.
|
|
|
|
|
|
|
|
|
|
Group Balanced Fund 3
|
|
Group Corporate Bond Fund 1
|
|
Group Equity Fund 1
|
|
Group Gilt Fund 1
|
|
Group Money Market Fund 1
|
|
Group Pure Debt Fund 2
|
|
|
|
Particulars
|
Range
|
|
Group Balanced Fund 3
|
|
Fixed Interest Securities not less than
|
0% - 80%
|
|
Equities not more than
|
0% - 20%
|
|
Group Corporate Bond Fund 1
|
|
Bond Instruments
|
0% - 100%
|
|
Group Equity Fund 1
|
|
Equities
|
0% - 100%
|
|
Corporate bonds and Other debt instruments/ Bank deposits/ Money Market Instruments
|
0% - 100%
|
|
Group Gilt Fund 1
|
|
Government Securities
|
0% - 100%
|
|
Group Money Market Fund 1
|
|
Money Market Instruments
|
0% - 100%
|
|
Group Pure Debt Fund 2
|
|
Government Securities and Approved securities
|
0% - 100%
|
|
Corporate bonds and other debt instruments
|
0% - 60%
|
|
Money Market instruments incl. liquid mutual fundsand bank deposits
|
0% - 100%
|
|
|
|
|
|
|
|
|
|
|
Group Balanced Fund 3
|
05-Feb-13
|
10
|
|
Group Corporate Bond Fund 1
|
08-May-12
|
10
|
|
Group Equity Fund 1
|
08-May-12
|
10
|
|
Group Pure Debt Fund 2
|
08-May-12
|
10
|
|
Group Gilt Fund 1
|
04-Apr-12
|
12.8438
|
|
Group Money Market Fund 1
|
23-Feb-12
|
10
|
|
|
|
|
|
|
|
|
|
|
Group Balanced Fund 3
|
|
Group Corporate Bond Fund 1
|
|
Group Equity Fund 1
|
|
Group Gilt Fund 1
|
|
Group Money Market Fund 1
|
|
Group Pure Debt Fund 2
|
|
|
|
|
|
|
|
|
10-Jul-09
11:59
|
Concerns over insurers' IPO listing
|
|
06-Jun-09
10:21
|
Reliance Life Insurance to mop up Rs 1,500-2,000 cr through IPO
|
|
23-May-09
12:40
|
Reliance Cap plans to sell 10 to 26% of its life insurance unit
|
|
22-May-09
10:40
|
Reliance Capital is planning to IPO of its insurance arm
|
|
13-May-09
11:23
|
Reliance Life Insurance reduced the number of agents
|
|
30-Mar-09
15:56
|
Seeking CEO for Insurance JV
|
|
09-Feb-09
09:58
|
Expanding operation beyond Indian shores: Reliance Life CEO
|
|
05-Feb-09
09:50
|
Reliance General Insurance launched claim survey 'Motoveys Claimlook'
|
|
20-Jan-09
12:50
|
Private insurers see market share rise to 62%
|
|
12-Jan-09
14:50
|
Reliance ADAG is in talks to sell a minority stake in its insurance distribution business to THB
|
|
12-Jan-09
13:50
|
Reliance Life Insurance launched Group Savings Linked Plan
|
|
22-Dec-08
14:56
|
Reliance Life launches Guaranteed Return Plan Series I
|
|
12-Dec-08
11:40
|
Reliance Life launches Super InvestAssure Plan - Plus
|
|
08-Dec-08
12:56
|
Reliance Life expects the first premium income to cross $1 billion
|
|
05-Dec-08
12:46
|
Reliance Life to hire 2,500 managers, 90,000 advisers in 4 months
|
|
|
|
|
View another Plan
|
|
|
|
|
Insurance Company
|
|
|
|
|
Solution for
|
|
|
|
|
Type
|
|
|
|
|
Category
|
|
|
|
|
Plan
|
|
|
|
|
|
|