This is yet another insurance policy of Reliance Life Insurance that has been targeted especially to the people who are working at the corporate sector. This insurance policy allows the employer to offer insurance cover its employees.
The insurance plan also allows the insured to make tax savings. Apart from this it also offers the plasticity the insured so that one can make some adjustment to this scheme so as to meet the needs and requirements of the various groups of employees. In this policy the employer is eligible to receive tax deductions for the assistance up to 15(%) percent of the salary of an employee.
This policy also offers investment options to the insured in which the insured can make investment on various types of funds and securities so as to maximize their returns. Some of the investment options that have been offered by Reliance Life Insurance in Group Superannuation policy are Capital secure fund, Balanced Fund, Growth Fund, Growth Plus Fund, Pure Debt Fund, High Growth Fund, etc.
This policy even allows the insured to transfer assets from one investment fund to another at any point of time. Here the insured is allowed to make four transfers and for this there are absolutely no monetary charges. Here the insured would have variety of contribution levels as well as variety of eligibility periods. There is also a feature known as defined contribution in which the employee can make a personal contribution of certain percentage of their salary or wage.
If the person doesn’t like the policy then he or she can return the policy within 15 days along with a letter of request. In such a case the insurance company would be returning the premium that has been paid after making certain deduction for the stamp charges.
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Tags: Insurance, insurance plan, insurance policy, Life Insurance Company, Reliance Life Insurance