Group Leave Encashment Plan

LIC'S NEW GROUP LEAVE ENCASHMENT PLAN

  1. Introduction:

LIC’s New Group Leave Encashment Plan is a non–linked non-participating, fund based Variable Insurance Product. This plan helps to meet the employer’s Liability for providing Leave Encashment facility to their employees. The Plan also offers Life Cover Benefit so that in case of death of a group member an amount equal to sum assured in respect of that member will be paid. The amount of life cover in respect of each member shall be guided by the scheme rules of the employer.