Overview

Composite solution to cater to the requirements of Gratuity, Leave Encashment and Post-Retirement Medical Benefits payable to the employees as per scheme rules
Attractive Interest Rates declared at start of every financial quarter
Professionally managed fund with high service levels

BENEFITS FOR YOUR GROUP MEMBERS

The benefits are payable on various events viz. Resignation, Death, Retirement, Disability, Termination or Sickness as per scheme rules
The benefit amount as per scheme rules will be paid from the Scheme Account
In case of death, we will additionally pay the sum assured of Rs.10,000 as death benefit
At all times the amount of scheme benefit will be limited to the availability of funds in the scheme account value
The interest rate of Pramerica Life New Group Traditional Employee Benefit Plan for Q3 FY 25 Oct 2024- Dec 2024 is 7.35% p.a.

Eligibility

	Minimum	Maximum
Entry Age (Last Birthday)	Higher of 18 years Minimum age as per scheme rules	Lower of 79 years Maximum age as per scheme rules
Maturity Age (Last Birthday)	Not Applicable	Lower of 80 years Maximum retirement age as per scheme rules
Group Size	5 members	No Limit
Initial Contribution (Per scheme)	Rs. 50,000	No Limit
Sum Assured (per member)	Rs. 10,000	Rs. 10,000

The Company will maintain a pooled fund at Master Policy level. The pooled fund maintained for every scheme is referred to as Scheme Account. The Scheme Account Value will be calculated by crediting all contributions received & interest credited less all applicable charges and withdrawals, as per scheme rules.
Scheme Benefit: As per the scheme rules, the benefit on various events (like resignation, death, retirement, disability, termination or sickness) will be paid from the respective Scheme Account as per scheme rules.
Insurance Benefit: The flat life cover of Rs. 10,000 will be provided to each member under the scheme on yearly renewable basis. If the Master Policyholder wants higher risk cover, the same may be arranged through a separate one year renewable Group Scheme of the Company open for sale from time to time.
Contribution: In case the Scheme Account Value is overfunded, the Company may allow “nil contribution” under the schemes until further contribution is required. In all such cases of nil contribution, the scheme shall not be treated as discontinued. No top ups are allowed unless required to address the underfunding of the schemes as per extant accounting standards.