Group Employee Benefits Plus

Build Reserves For Your Employees Benefit Payouts

Edelweiss Life Group Employee Benefit Plus is a Life Insurance
Fund based product. This plan provides wealth accumulation solution
to employers for meeting the funding requirements of various
employee benefit schemes, like Gratuity & Leave Encashments.

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Employee Benefit Plus Additional Resources

Secure your future by starting now and gaining a comprehensive understanding of the plan.

Product Brochure

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Sample Contract

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Interest Rate

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Reasons Why This Plan Brings Benefits To Both You And Your Employees

Employee Benefit Payouts

This plan helps you build reserves to give your employees Gratuity and Leave Encashment as and when needed.

We’ll Help You Grow!

A non-zero*⁵ positive interest rate is applied to your Policy Account Value daily for the entire term of your plan.

Life Cover Included

Every employee included under this plan gets a life cover to live a secured life.

Top-up Payments

Add some toppings! You can make top-up payments to maintain the Policy Account Value as and when needed.

Benefits of Edelweiss Tokio Life Group Employee Benefit Plus

Benefits of Edelweiss Life Group Employee Benefit Plus

Life Cover

Fixed life cover for everyone! We understand you want to look out for your employees. When you opt for Edelweiss Life Group Employee Benefit Plus, all your employees get a life cover of Rs. 5000.
Build Reserves

Give your employees the benefits they deserve! Opting for this plan will help you build a secured fund that you can use to pay your employees their dues like Gratuity and Leave encashments.
Interest Credits To Policy Account

Grow with us! When you opt for this plan, an interest will be applied to your Policy Account Value every day. This rate of interest is determined every quarter and the minimum value is at least 0.5% p.a.
Top Up Payments

Add some toppings ! With this plan, you can make top-up payments as and when required to maintain your Policy Account Value. These contributions to the fund are permitted to address the underfunding of the scheme. Your Policy Account Value should not reduce below Rs. 50,000.
Tax Benefits³

Don’t worry about taxes! Premiums paid are considered as business expenses and are eligible for tax benefit under section 37 of the Income Tax Act, 1961.

Life Cover

Fixed life cover for everyone! We understand you want to look out for your employees. When you opt for Edelweiss Life Group Employee Benefit Plus, all your employees get a life cover of Rs. 5000.

Build Reserves

Give your employees the benefits they deserve! Opting for this plan will help you build a secured fund that you can use to pay your employees their dues like Gratuity and Leave encashments.

Interest Credits To Policy Account

Grow with us! When you opt for this plan, an interest will be applied to your Policy Account Value every day. This rate of interest is determined every quarter and the minimum value is at least 0.5% p.a.

Top Up Payments

Add some toppings ! With this plan, you can make top-up payments as and when required to maintain your Policy Account Value. These contributions to the fund are permitted to address the underfunding of the scheme. Your Policy Account Value should not reduce below Rs. 50,000.

Tax Benefits³

Don’t worry about taxes! Premiums paid are considered as business expenses and are eligible for tax benefit under section 37 of the Income Tax Act, 1961.

How it works - Employee Benefit Plus

How it works!

Start Planning

Conduct need analysis
Choose your initial investment amount

Make Your Selections

Select your group size
Make investment payment

Sit Back and Relax

Submit the requested documents
Let us verify your details and let your journey with us begin!

Asset Publisher

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Guaranteed¹ savings & life cover for a policy term as high as 40 years
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Reasons Why You’re Bound To Love Us Back

Reasons Why You’re Bound to Love Us Back

We’ve got experience in helping people make their Zindagi unlimited

We have the expertise in making you grow your wealth.

We constantly innovate our offerings to get better results for you

Reasons Why You’re Bound to Love Us Back

We’ve got experience in helping people make their Zindagi unlimited

We have the expertise in making you grow your wealth.

We constantly innovate our offerings to get better results for you

Here's Why Our Customers Adore Us - Employee Benefit Plus

Here's Why Our Customers Adore Us

Look at what people had to say about our services

Our customers say

Good

4/5

based on 565 reviews

Asset Publisher

Thank you Meenakshi, I really appreciate your efforts to make me understand. Thank you so much.

Shrawan Ram

(Customer)

Thank you. I appreciate the way you explained the policy details to me. It was really good talking with you Narmin.

 Satya Prakash Singh

(Customer)

Thank you. It's great that you provided me with all the information. Have a nice day sahil and thank you so much.

Atul Shashikant Sakharkar

(Customer)

Thank you. The query I had was very well resolved by you. Thank you so much.

Mohit Munshi

(Customer)

Thank you, the information you gave me is complete & clear, Thank you so much.

Mayur Tiwari

(Customer)

You have given me proper information, I’m very happy the way you’re giving the information & I totally understand, Thank you so much Narmin.

Maddirala Siva Sankararao

(Customer)

You explained the details to me very well, and the information you provided was very clear, Thank you so much.

Deepshikha

(Customer)

Thank you Narmin, you really help me a lot, thank you so much, it’s really good to talk to u, keep going.

Suryabali Sitladin Vaishya

(Customer)

I thank your entire team for their sincere efforts in crediting the amount to my account. I have received the amount and thank you again from the bottom of my heart.

Bishnu Satapathy

(Customer)

Thank you so much Narmin, the information you provided me is really clear & good, Thank you

Christopher Paul Carroll

(Customer)

Thank you Athang, it’s really good to talk to you & you informed me all the details, Thank you so much for your effort.

Manish Kumar Tiwari

(Customer)

10 out 10. Interaction was too good. I got all the details and I’m convinced. I was not sure about this policy details and got very good feedback from your end. Thank you so much!

Mahalakshmi Srinivasan Iyer

(Customer)

It was excellent! The way you (Agent, Divya Patariyar) understood my query and then the way you clarified, I would really thank you for your patience and then hearing me out finding out the problem and then letting me know what’s would happen my policy details thanks it a was great spoke to you I will rate you 5 out 5 !!!

Durga Prasad Arsid

(Customer)

FAQs - Employee Benefit Plus

FAQs

Like teachers say, there are no silly questions

Why do I need a group employee benefit plan?

As an employer, you may need funds to provide employee benefits such as Gratuity and Leave Encashment. These could be considerable amounts and hence need to be planned for in advance. A group employee benefit plan helps you to build a consolidated reserve for this purpose.

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Why should I opt for Edelweiss Life Group Employee Benefit Plus?

Edelweiss Life – Group Employee Benefit Plus provides wealth accumulation solution to employers for meeting the funding requirements of various employee benefit schemes, where the scheme does not maintain individual member accounts and only maintains a consolidated fund, such as, Gratuity and Leave Encashment schemes, where Employer will be the Master Policyholder. This plan caters to corporates, business establishments and other groups maintaining Gratuity and Leave Encashment schemes for its members.

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What is the minimum group size required to take this plan?

The minimum group size for this plan is 10 members.

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What is the minimum and maximum entry age?

The minimum entry age is 18 years and maximum entry age is 80 years.

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What is the minimum initial contribution?

The minimum initial contribution is ₹10 lakhs.

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What is the maximum maturity age?

The maximum maturity age is 81 years.

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What is the minimum and maximum policy term?

The minimum and maximum policy term is 1 year.

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What is the minimum and maximum sum assured?

The minimum and maximum sum assured is ₹5000 per member.

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Is there a mortality charge?

Yes, there is a mortality charge. A mortality cost will be charged to the Policy Account Value on a monthly basis at the start of each month. The mortality cost corresponding to average age of the Members of the scheme at the start of each policy year will be considered.

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Does this plan have a Discontinuance charge?

There is no discontinuance charge. However, if at any point of time, the Policy Account Value falls below Rs. 50,000, the Master Policy will be foreclosed, and no other charges will be applied. The Policy Account Value shall be paid to the Master Policyholder.

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What is Market Value Adjustment?

Market Value adjustment (MVA) may be imposed in case of bulk exit or complete surrender, where bulk exit is said to occur if the amount to be paid on total exits during the policy year exceeds 25% of the Policy Account Value of the scheme as at the beginning of the year, where exit shall be as per the scheme rules.

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Does this plan have a Free Look Period?

You have a freelook period of 30 days from the date of the receipt of the policy document for the policy issued after 1st April, 2024 and processing TAT for same is 7 days.

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Does this plan have a Surrender Value?

Yes, this plan has a surrender value. The Master Policyholder may surrender the complete Policy at any time after serving minimum notice period of 15 working days. The surrender value shall be equal to the Policy Account Value on the day of surrender less applicable Surrender Charges less Market Value Adjustment, if any.

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Are there any Exclusions to this plan?

In case of death due to suicide within 12 months from the date of risk commencement for the individual member or from the date of revival, the nominee or beneficiary of the individual member shall be entitled to at least 80% of the total premiums, provided the coverage is in force.

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Does this plan have a Grace Period?

There is no grace period applicable.

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We are always there for you!

For queries, write to [email protected]
Contact us on 022 6611 6018

Disclaimer

0-Provided the premium paying term is more than or equal to 10 years.

1- This is applicable only if all due premiums are paid and the policy is inforce.

3- As per provisions of Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.

*5- Subject to a minimum of 0.5% p.a., shall be declared within 15 days at the beginning of the quarter

Edelweiss Life – Group Employee Benefit Plus is a Group, Non-Linked, Non-Par, Savings, Life Insurance Fund based Product. Please know the associated risks and the applicable charges from your Personal Financial Advisor or the Intermediary. Tax benefits are subject to changes in the tax laws. For more details on risk factors and terms and conditions, please read sales brochure carefully before concluding a sale.

IRDAI Reg. No.: 147. CIN: U66010MH2009PLC197336. UIN: 147N064V01 | ARN: WP/3856/Aug/2024

Flower & Edelweiss (as displayed above) are trademarks of Edelweiss Financial Services Limited used by Edelweiss Life Insurance Company Limited under license.

Edelweiss Life Insurance Company Limited (formerly known as ‘Edelweiss Tokio Life Insurance Company Limited’).

Registered & Corporate Office: 6th Floor, Tower 3, Wing ‘B’, Kohinoor City, Kirol Road, Kurla (W), Mumbai 400070.

Toll Free No.: 1800 212 1212 | Fax No.: +91 22 6117 7833 | www.edelweisslife.in

BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRAUDULENT OFFERS

IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.