Key Benefits of the Plan




  • Solution to cater the requirements of superannuation, gratuity, leave encashment, post-retirement medical benefits, etc. payable to the employees as per scheme rules
  • Attractive rate of interest for Specified Period* declared in advance
  • Life cover of Rs. 5,000 per member (except in superannuation schemes)
  • Professionally managed fund with high service levels

*Specified Period is the period for which the contribution is being made, it is selected by Master Policyholder at the time of making each contribution.


How does this plan work?


Pramerica Life Group Secure Employee Benefit Plan is a non linked non-participating group savings insurance plan that offers assured returns.

  • From each contribution of yours, mortality fee (if any) and applicable taxes shall be deducted and the balance shall be credited to the Policy Account.
  • The Company shall declare Interest rate every month in advance for all Specified Periods which shall be applicable for all contributions received during the month for the chosen Specified Period.
  • Each contribution will have a separate tranche with interest rate based on the Specified Period. The minimum Specified Period being one year.
  • Each tranche under the policy will have a commencement date and an end date based on chosen Specified Period.
  • A new tranche number will be generated for each contribution made by the Master Policyholder.
  • A Policy Account Value shall be maintained which is the sum total of all contributions less mortality fee, applicable taxes, withdrawals plus accrued interest across all tranches.





Entry Age

(Last Birthday)

Higher of

  • 18 years
  • Minimum age as per scheme rules

Lower of

  • 85 years
  • Maximum age as per scheme rules

Maturity Age

(Last Birthday)

19 years

86 years

Group Size

10 members

No Limit

Initial Contribution

(Per scheme)

Rs. 25,00,000

No Limit

Sum Assured(per member)

(Not Applicable for superannuation)

Rs. 5,000

Policy Term

One year

There is no fixed policy term. The scheme under the product shall be annually renewable.




How and when benefits are payable

Benefit Amount


Payable at the time of Death of a Member

Benefit is payable in accordance with the scheme rules, subject to a maximum of the Policy Account Value or Assured Benefit. For all schemes other than superannuation scheme, the Sum Assured of Rs.5000 will also be paid


At the end of Specified Period for a tranche

The Master Policyholder has the following 3 options:
Option 1 (Default): The maturity/vesting amount of the tranche can be transferred to any existing Group Employee Benefit plan then available with the Insurer and the tranche shall be closed.
Option 2: The Master Policyholder can choose to reinvest the maturity/vesting benefit amount in a new tranche of its choice at prevailing rates at that time. In this case the policy will continue with a new tranche created.
Option 3: The Master Policyholder can choose to withdraw the entire maturity/vesting benefit amount. Once this benefit is paid, the existing tranche will be closed.


Anytime by giving one month’s notice.

The Master Policyholder may surrender the policy at any time, by giving one month’s notice. Such notice period can be waived by the company. Surrender Benefit shall be Policy Account Value less MVA applicable if any.

Any other Withdrawals

Payable as per scheme rules on Retirement/ Resignation/ Termination/any other valid benefit payments

Benefit is payable in accordance with the scheme rules, subject to a maximum of the Policy Account Value or Assured Benefit.


At vesting, where the Master Policyholder maintains superannuation funds with more than one insurer, the Group Policyholder/ Group Member shall have the option to choose any insurer to purchase available annuity as per the provisions of Regulation 17 and 18 of IRDAI (Non Linked Insurance Products) Regulations, 2019, as amended from time to time.