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Group Value Plus Plan (GVPP)

GVPP provides multiple choices  that enable you to select suitable plan fulfilling your specific needs
Bachat Endowment.jpg

 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 Value Plus Plan (GVPP)
 
Key Features:
 
Multiple Plan Options
You have a choice of five plan options A, B, C, D and E that enable you to select suitable plan fulfilling your specific needs.
 
Manage Multiple or Single account for each scheme/member
You may specify the number of accounts you want to maintain. Your premium will be invested account wise and fund value will be tracked for each account separately. Your policy can be managed with multiple accounts as well as different fund allocation to suit each account. Additionally, you have the freedom to open new accounts at any time by paying fresh premium specified at the time of payment.
 
Flexible premium anytime
You have the convenience to pay the premium in one or more installments. Also, you may pay premium at any point of time
 
Customised investment portfolio as per changing needs
You have a choice of market cycle or self managed options to manage your investment portfolio.
In the Self Managed option, you have the freedom to decide how to invest your premiums. We offer eleven investment fund options to suit your specific needs. Under the MarketCycle Option, your portfolio will be structured as per your risk profile – you can decide whether you are Aggressive, Moderate, Conservative or Assure in your approach towards investments. Your portfolio will then be monitored and administered by us, saving you the time and effort involved in overseeing it yourself.
You can change the risk profile anytime that too free of charge. The rebalancing of the MarketCycle Option is also free of charge.
You also can switch from Self Managed Option to MarketCycle Option or vice versa at any time.
 
INVESTMENT FUND OPTIONS
The portfolio of the different Investment Fund Options is given below:
 
Investment Fund
Risk Profile
Asset Allocation
Min.
Max.
Group Money Market
Very Low
Debt Instruments, Money Market & Cash
Equities & Equity Related Securities
100%

0%
100%

0%
Group Short Term Debt
Very Low
Debt Instruments, Money Market and Cash
Equities & Equity Related Securities
100%

0%
100%

0%
Group Gilt
Low
Debt Instruments, Money Market and Cash
Equities & Equity Related Securities
100%

0%
100%

0%
Group Fixed Interest
Low
Debt Instruments, Money Market and Cash
Equities & Equity Related Securities
100%

0%
100%

0%
Group Income Advantage
Low
Debt Instruments, Money Market and Cash
Equities & Equity Related Securities
100%

0%
100%

0%
Group Bond
Medium
Debt Instruments, Money Market and Cash
Equities & Equity Related Securities
100%

0%
100%

0%
Group Secure
Medium
Debt Instruments, Money Market and Cash
Equities & Equity Related Securities
80%

10%
90%

20%
Group Stable
High
Debt Instruments, Money Market and Cash
Equities & Equity Related Securities
65%

20%
80%

35%
Group Growth
High
Debt Instruments, Money Market and Cash
Equities & Equity Related Securities
50%

30%
70%

50%
Group Growth Advantage
High
Debt Instruments, Money Market and Cash
Equities & Equity Related Securities
40%

30%
70%

60%
Group Growth Index Plus
High
Debt Instruments, Money Market and Cash
Equities & Equity Related Securities
40%

30%
70%

60%
Group Growth Multiplier
High
Debt Instruments, Money Market and Cash
Equities & Equity Related Securities
40%

30%
70%

60%
Group Growth Maximiser
High
Debt Instruments, Money Market and Cash
Equities & Equity Related Securities
0%

80%
20%

100%
 
 
How Leave Encashment Works
 
Under the Group Leave Encashment Schemes, employers pay a yearly premium on behalf of the employees. Leave encashment due to the employee depends upon the leaves to his credit and his last drawn salary. On the exit of the employee, he is paid his due from the fund of the scheme, accumulated from the annual contribution by the employer.
 
Regulations
 
Eligibility and Scheme Coverage
 
·          Leave Encashment benefit can be provided by the employers in addition to other retirement benefits, to employees in the age group of 18 to 65 years.
·          According to the Accounting Standard (AS-15) of January, 1995 and amended Section 209 (3) of Companies Act, 1957, it has become necessary for employers to provide for the liability of leave encashment facility available to employee in the annual books of accounts.
 
Benefits
 
·          On death or resignation of the employee, the leave encashment would be paid from the fund of the scheme maintained with the fund manager to the employee, or his beneficiary.
 
Tax Treatment
 
For employees
 
 Under Section 10(10AA) of the Income Tax Act,
·          For Government employees, the leave encashment benefits received at the time of retirement are tax free.
·          For non- Government employees, leave encashment benefits are exempt from taxes subject to the least of the following amounts
·          Rs 3 lakh
·          Ten months' average salary - Average salary implies the average of the salary drawn during the last ten months prior to retirement.
·          Cash equivalent of the leave due at the time of retirement
·          Leave encashment actually received at the time of retirement
 
For the employer
 
·          The actual payment made towards leave encashment is allowed to be treated as a business expense.
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 Value Plus Plan - are only the names of the Company, Policy and Investment Options 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 solicitation. For more details and clarification visit our website. Unique No. 109L055V02 ADV/6/11-12/4652 Ver2/Mar/2012
Unique No. 109L055V02
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Daily NAV's


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Gilt Fund 19.0392
ULGF00630/05/03BSLIGRGILT109
Bond Fund 21.3555
ULGF00530/05/03BSLIGRBOND109
Fixed Interest Fund 24.9639
ULGF00416/07/02BSLGFIXINT109
Money Market Fund 21.2622
ULGF00824/08/04BSLIGRMMKT109
Short Term Debt Fund 14.8548
ULGF01322/09/08BSLGSHTDBT109
Secure Fund 34.8072
ULGF00212/06/01BSLGSECURE109
Stable Fund 45.56
ULGF00312/06/01BSLGSTABLE109
Growth Fund 52.437
ULGF00112/06/01BSLGGROWTH109
Growth Advantage Fund 18.2175
ULGF01026/11/07BSLIGGRADV109
Income Advantage Fund 14.0844
ULGF01425/02/10BSLGINCADV109
Fixed Interest Fund II 12.0586
ULGF01728/11/11BSLGFXINT2109
Money Market Fund II 11.4854
ULGF01928/11/11BSLGRMMKT2109
Growth Fund II 12.3564
ULGF01828/11/11BSLGROWTH2109
Short Term Debt Fund II 11.9626
ULGF02128/11/11BSLGSHTDB2109
Stable Fund II 11.8996
ULGF02228/11/11BSLGSTABL2109
Capital Protection Fund 10
ULGF00902/02/05BSLIGRPROT109
Floating Rate Fund 10
ULGF00724/08/04BSLIGFLOAT109
Growth Maximiser Fund 10
ULGF01525/02/10BSLIGRMAXI109
Group Secure Fund II 9.9205
ULGF02028/11/11BSLGSECUR2109
Bond Fund II 10
ULGF01628/11/11BSLGRBOND2109
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