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Group Term Insurance Scheme in lieu of EDLI

​​As an employer you understand that your employees are the key to the success of your organization. Hence it is important that you ensure their financial security by providing them with extra protection along with what is absolutely mandatory.

Star Union Dai-ichi Life Insurance brings to you SUD Life Group Term Insurance Scheme in lieu of EDLI, a term plan, which provides life insurance cover to all the employees who are covered under the Employees Provident Fund.

For Employers

Financial security to your employees’ families at a low cost
The premiums paid are treated as business expense for Income Tax purposes

For Employees

Higher Life cover to the employees as compared to EDLI scheme
Easy and Hassle-free enrolment process
No premium to be paid by the employee
Income Tax Benefits under section 10(10D)*

*​ Tax benefits are subject to change in tax laws from time to time. Prevailing benefits would be applicable as per the prevailing laws from time to time.

The plan is covered as per Insurance Act, 1938 and the EDLI Act, 1976

Minimum Entry Age

18 years

Sum Assured

Minimum- Rs.1,32,000
Maximum- Rs.10,00,000

Premium Payment Mode

Yearly/ Half Yearly/ Quarterly/ Monthly

 

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