Group Leave Encashment Scheme
 
Working professionals in age group of 18 to 59 years can avail this plan though their employer. SUD Life will conduct an actuarial valuation in respect of leave encashment liability and determine the funding requirements which will be furnished to the organization. SUD Life will maintain a running account for each scheme, and the contributions net of risk premium will be credited to this account. The funds of all the running accounts will be pooled and invested by SUD Life and interest will be declared at the end of each year based on earnings net of expenses. On the exit of an employee from the service of the employer, or on encashment of leave during his service with the employer, the leave encashment amount will be paid from the fund of the Scheme. “SUD Life Accidental Death and Dismemberment Benefit Rider” can also be opted for so as to compensate for loss of income resulting through injury/dismemberment caused by accident. Moreover, if an accidental death claim arises, the beneficiary will receive basic sum assured as well as rider sum assured.
 

Disclaimer
 
For more details about the product and its features, please read the sales brochure carefully.
UIN for SUD Life Group Leave Encashment Scheme - 142N017V01