Union Bank of India- Product

Search

Home You are here : path  Products path Personal path SUD Life Group Term Insurance Scheme in lieu of EDLI

Image  SUD LIFE GROUP TERM INSURANCE SCHEME IN LIEU OF EDLI

SUD Life Group Term Insurance Scheme in lieu of EDLI
UIN – 142N032V01

All employees of establishment contributing to EPF are covered under Employee Deposit Link Insurance (EDLI) as per Miscellaneous Act 1952 at the cost specified. Now the same benefit can be availed at lower cost and almost no hassle SUD Life Group Term Insurance Scheme in lieu of EDLI.

Key Benefits to Employer
Flexibility to choose your future income through two plan options-

  • Financial security to your employees’ families at a low cost
  • The premiums paid are treated as business expense for Income Tax purposes
  • Higher Sum Assured then EDLI
  • Choice of cover amount for employees
  • Prompt and easy claim settlement
  • Convenient and hassle free process

Key Benefits to Employees

  • Higher Life cover benefits
  • Better service standards helps quick settlement of claims
  • No premium to be paid by the employee
  • Death benefit is not subjected to tax in the hands of nominee (Income Tax Benefits under section 10(10D)*)

For more details visit www.sudlife.in
Insurance is the subject matter of the solicitation. *As per the current laws, income tax benefits to employees are available under Section 10(10D) of Income Tax Act, 1961 which are subject to change in tax laws from time to time. For more details on risk factors, terms and conditions please read the sales brochure before concluding the sale. IRDA Registration number of Star Union Dai-ichi Life Insurance Co. Ltd. – 142 (As issued on 14th Feb 2013).Participation by the Bank customers in insurance business shall be purely on a voluntary basis. It is strictly on non-risk participation basis from the Bank. Union Bank is a Corporate Agent of Star Union Daiichi Life Insurance Co. Ltd.IRDA Corporate Agent License number for Union Bank of India – 891295


union

union

  • Rewarded

    Rewarded

    Earn reward points on transactions made at POS and e-commerce outlets

  • Book your locker

    Book your locker

    Deposit lockers are available to keep your valuables in a stringent and safe environment

  • Financial Advice?

    Financial Advice?

    Connect to our financial advisors to seek assistance and meet set financial goals.

  • ATM & Branch Network

    ATM & Branch Network

    Find UBi Branches and ATMs in proximity to your location.