The SBI Life Insurance – CapAssure Leave Encashment under Group Employee Benefit Product is a non participating yearly renewable conventional group leave encashment scheme. This plan guarantees investment along with additional funding and additional benefits.
The key features of SBI Life – CapAssure Leave Encashment under Group Employee Benefit Products are as follows:
- This Insurance policy gives the capital on guarantee on fund under organization.
- The unique pooling advantage is also available under this policy which gives high returns based on aggregated value of the non linked funds.
- The policy gives additional grant up to 3% to absorb the exit punishment charged by the prior insurer.
- Under this policy no suicide clause for exclusion is there for the basic life cover.
- The flexibility to partial transfer of fund from the plan to the unit linked life gratuity plan.
- The additional benefit for the employee through permanent disability rider and group accidental death is available.
The benefits of SBI Life – CapAssure Leave Encashment under Group Employee Benefit Products are as follows:
- On the ill-timed death of the policy holder the accrues leave encashment benefit according to the rules will be payable along with the opted basic sum assured with the rider sum assured in case of death due to an accident.
- On retirement, resignation or termination the accrued leave encashment will be paid according to the rules.
- In case of permanent disability due to accident the accrued leave cans benefit will be paid along with the rider sum assured following the plan rules.
The SBI Life – CapAssure Leave Encashment under Group Employee Benefit Product is a non participating annual renewable conventional group leave encashment scheme. This plan guarantees investment along with added funding and extra benefits.
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