Group Savings Plan

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Group Savings Plan – A complete solution for savings and investment needs by EFU Life Assurance Ltd.

A penny saved is a dollar earned. This may sound much easier to achieve than it actually is. In times of financial crisis, employees find it very hard to save a portion of their income that may be utilized in the future should the need arises. As an employer, you can facilitate your employees in their effort of building a financially secure future by opting for them EFU Life’s Group Savings Plan. This unique arrangement enables the employees to save regularly a fraction of their income to provide a large amount of money at maturity while enjoying insurance benefits.

With this low cost and easy to administer plan, you can provide your employees a unique package of funds management and financial security which ultimately results in long term retention and increased motivation of employees.

Salient features of the Group Savings Plan are as follows:

  • Ensures employee retention and loyalty
  • Unit linked insurance cover for groups
  • Offers easy Premium Payment option
  • Option to choose from a range of available EFU Growth Funds depending on member’s risk appetite
  • Choice to select Sum Assured Structure based on member’s preferences
  • Benefits may be availed in lump sum or in the form of retirement income as annuity
  • “Exclusion Free” insurance under Basic Life Cover
  • Option to hedge against inflation through Inflation Protection Benefit
  • Conversion option from group savings plan to any regular individual insurance plan in case of disassociation with the employer
  • Option to accelerate the build –up of your fund through Fund Acceleration Premium
  • Offers easy access to savings