SBI Life Group Leave Encashment cum Life cover Scheme:

It is a rule that employers have to supply their employees with the accumulated benefits, one of which is leave encashment benefits.  By doing this, it will help the employer in determining the true price of their produce and work.

In order to make the employer’s work easier, SBI life has introduced SBI Life – Group Leave Encashment cum Life cover Scheme.  This plan does not need your constant involvement. 

This plan works in such a way that your payments continue to gather in a particular plan of investments.

By buying SBI Life – Group Leave Encashment cum Life cover Scheme,
The company that you work is not accountable for your investment, but this plan sees to all that work. 

They work in a systematic way and they keep up different accounts for each plan.

In this plan, the accounts are managed according to the rules and regulations put forward by the IRDA. When you have decided to buy this plan, you need not be worried about having to undergo the preceding procedures. That will be taken care of by the scheme.

This plan has many benefits.  They are,
On your retirement, resignation, or termination, you will be provided with the accumulated leave encashment benefits.

Death in an unfortunate incident fetches your beneficiary the eligibility to receive the accumulated leave encashment benefits as well as the basic sum assured from the scheme.

Once you are provided with the scheme brochures, you will be provided with fifteen days time to decide and fill in the forms for joining the scheme.

This plan has the revival benefit, and according to this, if you have stopped paying your premiums for some reason, you can revive them within the period of five years since you paid your last premium and start your life cover again.

SBI’s Life Group Leave Encashment cum Life cover Scheme is a plan that is beneficial to anyone who buys it. If you have opted for this scheme, you can be sure to receive your leave encashment benefits after you have left your job, without any delays.