The SBI Life - CapAssure Superannuation under Group Employee Benefit Product is such a scheme that guarantees the capital along with offering the benefit of additional funding. This scheme also entitles the scheme rules on resignation, retirement and permanent disability.
The key features of SBI Life - CapAssure Superannuation under Group Employee Benefit Products are as follows:
- This policy gives the capital on guarantee on fund under management.
- The unique pooling advantage is also available under this policy which gives high returns based on aggregated value of the non linked funds.
- The policy gives additional funding up to 3% to absorb the exit penalty charged by the prior insurer.
- Under this policy no suicide clause for exclusion is there for the basic life cover.
- The flexibility to partial transfer of fund from the scheme to the unit linked life gratuity scheme.
- The additional benefit for the employee through permanent disability rider and group accidental death is available.
- The benefits of SBI Life - CapAssure Superannuation under Group Employee Benefit Products are as follows:
- On unfortunate death of the policy holder the employee will receive the pension amount as defined early or the equivalent amount in purchase price as stated in the scheme rules along with the basic sum assured and rider sum assured in case of death due to any accident.
- On the permanent disability due to any accident the employee will receive the defined pension or equal amount in the purchase price according to the scheme rules along with the rider sum assured.
- On retirement, resignation or termination the employee will receive the termination either the determined pension or equivalent amount of the purchase price according to the rules of the scheme.