As an acknowledgement of an employee's loyalty, the employer may choose to offer them leave encashment benefits. Leave encashment is the amount payable for the employee's leave period, depending upon the leaves to his credit and his salary at the time of termination of employment. This amount may be paid to the employees (or to their dependents) on retirement, death or disability.
Leave encashment liabilities' increase over time, with the increase in an employee's years of service and salary. Such leave encashment could be a huge liability to the company. Group Leave Encashment Plans help reduce the financial strain on the employer by helping them fund their Leave encashment liabilities payable to employees.
BSLI offers fund management for Leave Encashment Scheme through Group Unit Linked Plan (GULP) and Guaranteed Interest Credit (GIC).
Group Unit Linked Plan (GULP)
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Key Features:
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Get more for less through efficient returns - We offer an opportunity to earn market-linked returns on the Gratuity Contribution.
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Choose your fund. Choose your future Â
The Unit-Linked platform offers the benefit of ten investment funds
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Investment Fund |
Risk Profile |
Asset Allocation |
Min. |
Max. |
Group Fixed Interest |
Low |
Debt Instruments, Money Market & Cash
Equities & Equity Related Securities |
100%
0% |
100%
0% |
Group Bond |
Medium |
Debt Instruments, Money Market & Cash
Equities & Equity Related Securities |
100%
0% |
100%
0% |
Group Gilt |
Low |
Debt Instruments, Money Market & Cash
Equities & Equity Related Securities |
100%
0% |
100%
0% |
Group Secure |
Medium |
Debt Instruments, Money Market & Cash
Equities & Equity Related Securities |
80%
10% |
90%
20% |
Group Stable |
High |
Debt Instruments, Money Market & Cash
Equities & Equity Related Securities |
65%
20% |
80%
35% |
Group Growth |
High |
Debt Instruments, Money Market & Cash
Equities & Equity Related Securities |
50%
30% |
70%
50% |
Group Floating Rate |
Low |
Debt Instruments, Money Market & Cash
Equities & Equity Related Securities |
100%
0% |
100%
0% |
Group Protection |
High |
Debt Instruments, Money Market & Cash
Equities & Equity Related Securities |
100%
0% |
100%
0% |
Group Money Market |
Very Low |
Debt Instruments, Money Market & Cash
Equities & Equity Related Securities |
100%
0% |
100%
0% |
Group Short Term Debt Fund |
Very Low |
Debt Instruments, Money Market & Cash
Equities & Equity Related Securities |
100%
0% |
100%
0% |
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Manage your risk with protection fund option
At the time of inception of the policy, we also offer you an opportunity to preserve your capital.
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Initial Allocation
We offer unique value added benefit of additional units up to 5% of the initial contribution.
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Feel free to Switch Funds
To enable you to manage the risk and optimize the returns based on market performance, you have the option of changing the allocation in various funds.
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Disclaimer
This policy is underwritten by Birla Sun Life Insurance Company Limited (BSLI). This is a non-participating unit linked plan. Birla Sun Life Insurance, BSLI Group Unit Linked Plan are only the names of the Company and Policy respectively and do not in any way indicate their quality, future prospects or returns. The names of the funds offered in this plan do not in any way indicate their quality, future prospects or returns. The charges are guaranteed throughout the term of the policy unless specifically mentioned and subject to IRDA approval. The value of the investment fund reflects the value of the underlying investments. These investments are subject to market risks and change in fundamentals such as tax rates etc affecting the investment portfolio. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of investment fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. There is no guarantee or assurance of returns from the investment funds. BSLI reserves the right to recover levies such as the service tax levied by the authorities on insurance transactions. If there be any additional levies, they too will be recovered from you. This brochure contains the salient features of the plan. For further details please refer to the policy contract. Tax benefits are subject to changes in the tax laws. Insurance is the subject matter of the solicitation. For more details and clarification visit our website.
Unique No. 109l036V02 ADV/6/11-12/4648 Ver2/Mar/2012
Unique No. 109l036V02
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