The ABSLI Group CapSecure Plan is a non-linked, non-participating fund-based group insurance plan that helps employers accumulate and manage funds required to pay retiral benefits to their employees.
Key Features:
- Contribution Management: Contributions are added to the respective policy accounts.
- Coverage: Includes gratuity, leave encashment, and post-retirement medical schemes.
- Interest Declaration: Interest on the investment is declared quarterly.
- Guaranteed Amount: Offers a guaranteed amount in the policy account.
Benefits:
- Interest Rate: Applicable interest rate is declared at the beginning of every financial quarter and accrues at the end of each fiscal quarter.
- Death and Gratuity Benefits: Allows employers to claim from the policy to pay death benefits or gratuity amounts to employees or their nominees upon death or exit from service.
- Automatic Life Insurance Cover: Includes a bundled life insurance cover of ₹5,000 for all employees.
- Policy Surrender Option: Provides the option to surrender the policy at any time and receive actual surrender proceeds.
- Account Flexibility: Offers the flexibility to create separate non-pooled accounts for each employee or a single pooled account for all employees.
For more details or to download the plan brochure, use the provided links.