Corporate Services

Group Mediclaim

The Group Mediclaim Policy will be available to any Group/Association/ Institution/ Corporate Body of more than 50 persons/families provided it has a central administration point. Each insured should cover all eligible members (insured Persons) under one group policy only.

In other words different categories of eligible members shall not be allowed to be covered under different group policies. It is not permissible to issue any un-named group policies.
The group policy will be issued in accordance with IRDA guidelines, in the name of the Group/ Association / Institution / Corporate Body (called insured) with a schedule of names of the members including his/her eligible family members as per the following definition.
Group Gratuity

Group Gratuity scheme enables employers to meet their gratuity liability in a very simple and efficient manner. The scheme is formulated in compliance with Part C of the IV schedule of Income Tax Act and tax benefits are available as provided in Income Tax rules

The gratuity arrangement provides the following services to the company

  • Fund management under interest accumulation system
  • Claim settlement on exit as per company rules/gratuity act
  • Built in Insurance arrangement for the employees for future service
  • MIS related to Income Tax and trusts accounts and Actuarial valuation
Group Personal Accident Insurance

Your employees are your greatest asset. To demonstrate that you value them you want to help them and their loved ones in case of misfortune. To cater to this large human pool we provide tailor made options to suit your needs. Group Personal Accident (GPA) Policy can offer benefits like accidental death cover, disability cover, children’s education allowance and more.

Group Superannuation Scheme

Maturity Benefits:

If the scheme is a Defined Contribution scheme, the employee shall have the option to commute a maximum of one third of the pension. The accumulated amount less commuted value, if any, in the account will be used to purchase pension from Insurance company or any other insurer/Approved Annuity provider)If the scheme is a Defined Benefit scheme, Benefits will be provided as per the rules of the scheme and as instructed by the trustees and the employee shall have the option to commute a maximum of one third of the pension

Death Benefits:

On death while in service, The accumulated amount (contribution plus interest) to the credit of the member which will be used to purchase a pension on the life of the beneficiary. Plus The Sum Assured according to the life cover provided, if any. The nominee will have an option to take the Sum Assured as a lump sum or to use the sum assured to purchase an annuity, if he/she desires.