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Insurance Company
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Reliance Life Insurance Co Ltd
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Plan Name
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Reliance Traditional Group Gratuity Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Group Plan
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UIN No.
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121N047V01
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About Plan
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Reliance Traditional Group Gratuity Plan is a yearly renewable, traditional group gratuity scheme. It enables employers / trustees to outsource the management of their employees' gratuity funds and the related administration to Reliance Life Insurance Company Limited.
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Minimum Group Size
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20 Members
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Minimum Entry Age
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18 Years last birthday
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Maximum Entry Age
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69 Years last birthday
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Minimum Policy Term
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1 Years
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Maximum Policy Term
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The policy will be in force unless it is spcifically terminated
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Maximum Maturity Age
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70 years last birthday
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Minimum Sum Assured
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Rs 10,000 per member
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Maximum Sum Assured
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No limit on the maximum sum assured. the sum assured may be a variable amount greater than the minimum sum assured of Rs 10,000 and may be equal to the future service grauity.
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Minimum Premium
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Rs 2,00,000
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Maximum Sum Assured
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No limit
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Benefits
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| Particulars | Description |
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Death Benefits
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This benefit is equal to 15 days' salary at the time of death for each year of past service of the employee up to the time of death / disability, and may be subject to a maximum of Rs.3,50,000/- and the sum assured.
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Other Benefits
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This benefit is equal to 15 days' salary at the time ofresignation of the employee for each year of past service upto the time of his resignation, and may be subject to amaximum of Rs. 3,50,000/-, provided the employee hascompleted at least five years of service. If the employee hasserved for less than five years, it may be nil.
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Retirement Benefit
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This benefit is equal to 15 days' salary at the time of retirement for each year of past service of the retiring employee, and may be subject to a maximum of Rs.3,50,000/-.
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Tax Benefits
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| No data for Tax Benefits |
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The scheme will assist the corporate to manage their gratuityliabilities.
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Option to enhance protection through riders.
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10-Jul-09
11:59
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Concerns over insurers' IPO listing
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06-Jun-09
10:21
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Reliance Life Insurance to mop up Rs 1,500-2,000 cr through IPO
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23-May-09
12:40
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Reliance Cap plans to sell 10 to 26% of its life insurance unit
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22-May-09
10:40
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Reliance Capital is planning to IPO of its insurance arm
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13-May-09
11:23
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Reliance Life Insurance reduced the number of agents
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30-Mar-09
15:56
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Seeking CEO for Insurance JV
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09-Feb-09
09:58
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Expanding operation beyond Indian shores: Reliance Life CEO
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05-Feb-09
09:50
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Reliance General Insurance launched claim survey 'Motoveys Claimlook'
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20-Jan-09
12:50
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Private insurers see market share rise to 62%
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12-Jan-09
14:50
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Reliance ADAG is in talks to sell a minority stake in its insurance distribution business to THB
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12-Jan-09
13:50
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Reliance Life Insurance launched Group Savings Linked Plan
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22-Dec-08
14:56
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Reliance Life launches Guaranteed Return Plan Series I
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12-Dec-08
11:40
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Reliance Life launches Super InvestAssure Plan - Plus
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08-Dec-08
12:56
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Reliance Life expects the first premium income to cross $1 billion
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05-Dec-08
12:46
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Reliance Life to hire 2,500 managers, 90,000 advisers in 4 months
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