Group Gratuity Plan

Group Gratuity Plan is a non-participating, non-linked, fund-based variable insurance policy. With this plan, the employer can meet the obligation of statutory gratuity benefit to their employees. Contributions are paid by the policyholder each year to secure the gratuity benefit in order to provide life cover benefit, according to the rules of the policy. In this case, a single account is maintained for all the contributions made by the policyholder.

Key Features of Group Gratuity Plan

A few of the key features Group Gratuity Plan are mentioned as follows

Benefits of Group Gratuity Plan

The Group Gratuity insurance plan offers the following benefits:

Premium Payment

The premium or contribution by the policyholder is done on an annual basis.


The policy offers Accidental Benefit Rider, where on the demise of the policyholder as a result of accident, during the policy’s term, an additional amount, that is equal to Accident Benefit Rider Sum Assured is paid to the nominee.