ABSLI’s Group CapSecure Plan is a non-linked, non-participating fund-based group insurance plan designed to help employers accumulate a secure pool of funds for paying various retiral benefits to their employees.
Key Features:
- Contributions: Contributions received are added to 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 Accumulation: Applicable interest rates are declared at the beginning of every financial quarter and accrue at the end of the fiscal quarter.
- Death and Gratuity Benefits: Employers can 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: Provides Rs. 5,000 as a bundled life insurance benefit for all employees.
- Flexibility: Option to surrender the policy anytime and receive actual surrender proceeds. Additionally, you can choose between separate non-pooled accounts for each employee or a single pooled account for all employees.
For further details, you can download the Plan Brochure or contact ABSLI for more information.