Administration of the scheme
- You will need to put up a notice in the office premises in order to inform employees that you are opting for Reliance Group Term Plan instead of EDLI.
- Application to the Regional Provident office for the exemption of your subscription to the EDLI Scheme. The application has to be supported by all the necessary documents and Reliance Life Insurance will help you and also offer guidance in seeking exemption.
Administration of Plan
- At work certificate
- Issue of Master Policy Along with the list of employees covered with the benefit assigned
- Additions and deletions to be communicated every month by the employer.
- All new employees become a part of the groups when they meet the eligibility criteria. The cover starts from the date of the joining the company.
- In case of an individual leaving the service or the group ,life cover will cease immediately.
- Reconciliation of premium would be done at the end of the year and a pro rata premium will be charged or refunded when an employee joins or leaves the scheme.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. UIN for Reliance Group Term Insurance Plan (EDLI) - 121N006V02.