Group Savings Plan
Group Savings Plan – A complete product solution for savings and investment needs.
A penny saved is a dollar earned. This may sound much easier to achieve than it actually is. In times of financial crisis, employees find it very hard to save a portion of their income that may be utilized in the future should the need arise. As an employer, you can facilitate your employees in their efforts towards building a financially secure future by opting for EFU Life’s Group Savings Plan. This unique arrangement enables the employees to save regularly a fraction of their incomes which can grow to a sizeable amount at maturity while enjoying insurance coverage as well.
With this low cost and easy to administer Plan, you can provide your employees with a unique package of funds management and financial security which ultimately results in long term retention and increased motivation of employees.
Salient features of the Group Savings Plan are as follows:
- Ensures employee retention and loyalty
- Unit linked insurance cover for groups
- Offers easy Premium Payment option
- Option to choose from a range of available EFU Growth Funds depending on member’s risk appetite
- Choice to select Sum Assured Structure based on member’s preferences
- Benefits may be availed in lump sum or in the form of retirement income as annuity
- “Exclusion Free” insurance under Basic Life Cover
- Option to hedge against inflation through Inflation Protection Benefit
- Conversion option from group savings plan to any regular individual insurance plan in case of disassociation with the employer
- Option to accelerate the build –up of your fund through Fund Acceleration Premium
- Offers easy access to savings
