CANARA HSBC Oriental Bank of Commerce Life has come up with three unit-linked products — Stay Smart Plan, Retire Smart Plan and Saral Bima Plus. These products conform to IRDA’s strictures capping ULIP charges at 3% of the gross yield for 10-year policies, and 2.25% for those with a term of over 10 years. Fund management charges cannot exceed 1.35% for all policies. The Stay Smart Plan, which offers life cover till the age of 99 years, specifies a minimum premium of Rs 25,000, while the death benefit will be higher of the fund value or the sum assured. The second plan, catering to retirement needs, comes with two options – pure pension or pension with life cover. Under the Saral Bima Plus, targeted at the semi-urban and rural segment, life cover is offered on the basis of a ‘Declaration of Good Health’. The minimum premium payable is Rs 6,000, while the maximum is Rs 1 lakh p.a. The sum assured is five times the annual premium.
Buy Group Health Insurance Online For Human Resources, the biggest challenge today is to decide whether medical benefits should be offered to employees or not, what type of plans should be offered, what will be the cost and how will the cost be split between employees and employer. Well, most of these are subjective and would depend on a lot of factors including company size, average employee salary, etc. However, this article will give you a fair idea on how you should go about deciding these factors: 1. Why offer group health insurance benefit to employees : Studies have proved that retention rates among employers offering GHI are much higher than the ones who are not offering. Moreover, the cost of providing this benefit as a percentage of salary is very low as compared to the perceived value. As an example, say if average salary of an employee in your organization is 4 LPA. If you decide to offer a health insurance benefit to him for a Sum insured of ...
