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Aviva Corporate Shield Plus is a group term insurance plan that provides benefits in lieu of the employee deposit linked insurance (EDLI).
Aviva Corporate Shield Plus
Overview
Aviva Corporate Shield Plus is a group term insurance plan that provides benefits in lieu of the employee deposit linked insurance (EDLI).
It aims to :
1. Compensate family members/dependants for the financial loss arising due to the death of an employee of the organization.
2. Provide protection with minimum formalities and without undergoing any medical tests.
Specifications
1. Master Policy holder: Employer/Corporate
2. Minimum Entry Age: 18 years
3. Maximum Entry Age: 74 years
4. Minimum Sum Assured: Rs. 3,60,000/-
5. Maximum Sum Assured: Rs. 10,00,000/-
6. Policy Term: 1 year; renewable every year (OYRGTA)
7. Premium Payment Frequency: Annually, half yearly, quarterly or monthly
8. Annual Premium: Depends on the group size, the age distribution of your members, their occupations etc.
9. Minimum premium per scheme: Rs. 15,000/-
What are the employees (members) going to get?
Death Benefit:
In case of death of the insured employee, the sum assured will be paid to the master policyholder, who in turn, will settle the account with the beneficiary of the insured member.
What is the organisation going get?
Tax Benefits:
Tax benefits are as per the provisions of the Income Tax Act, 1961. Tax laws are subject to change.
Covered
Tax benefits are as per the provisions of the Income Tax Act, 1961. Tax laws are subject to change.
Covered
In case of death of the insured employee, the sum assured will be paid to the master policyholder, who in turn, will settle the account with the beneficiary of the insured member.
