Key Features

It is a yearly renewable plan

The plan can be availed only by employer-employee groups where a minimum of 10 members are required

A Master Policy held by the employer is issued covering the members for a pre-determined amount.

Defined Benefit scheme and Defined Contributions scheme is covered under the scope of the plan

Gratuity, Superannuation and Leave Encashment is managed under the Defined Benefit scheme while only Group Superannuation is managed under the Defined Contribution scheme

Benefits

A guaranteed Minimum Floor Rate @ 0.5% p.a. will be credited to the policy account quarterly throughout the term

A non-negative Additional Interest rate will be credited to the policy account quarterly

A non-negative Residual Additions from the 5^th policy year will be credited to the policy account to meet the maximum Reduction in Yield

On death, under the Defined Contribution scheme, the aggregate Account balance is paid subject to a minimum of 100.1% of all premiums paid for each member and for the Defined Benefits scheme, the accrued liability as per scheme rules is payable

On death under the Gratuity and Leave Encashment scheme, the accrued liability + a fixed Sum Assured equal to Rs.1000 is payable

The benefits as payable in case of death are payable in case of retirement, resignation or disablement of members except the Sum Assured of Rs.1000

Policy Details

Grace Period: not applicable under the plan

Policy Termination or Surrender Benefit: on surrender, the balance in the policy account net of applicable surrender charges and Market Value Adjustment is returned

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

	Minimum	Maximum
Entry Age (Last Birthday)	18 years	79 years
Maturity Age (Last Birthday)	-	80 years
Size of the group	10 members	No limit
Contribution	50,000	No limit
Frequency of Contribution	Annual, half-yearly, quarterly, monthly

Ageas Federal Retiresurance Group Insurance Plan

Key Features

Benefits

Product Specification:

Policy Details

Additional Features or Riders

Documents Required

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