This one is yet one more unit linked plan from Reliance Insurance that has been planned exclusively to help the insured to make a perfect balance between security cover as well as the optimum utilization of leave encashment liability assistance.
Some of the salient features and benefits of the Group leave encashment plan of Reliance Life Insurance are as follows:
- The payment of premiums under this policy is extremely flexible that depends mostly on the cash flow of the insured.
- Investment options are also presented in this policy and they too are very flexible. These options do help in distribution the risks that are normally connected with investments. The insured must choose an investment options based on the risk appetite.
- The insured can also transfer their assets from one investment to another and this can be at any point of time. Under this policy the insured can transfer their investment 52 times every year.
- Ample give is offered to the insured so that they can choose their very own insurance cover at an reasonable cost.
- The employees can also have annual leave encashment that is usually based on the last drawn salary.
The employer or the insured can surrender the policy at any point of time after which the surrender value of the policy would be paid to the insured after making a deduction of surrender charges if there is any. There is also a free look time in this policy under which the insured can test the policy for 15 days. If the insured is not satisfied with the policy then he or she can return this policy to the company.
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