EDLI (Employee Deposit Linked Insurance) was introduced by the Government in the year 1976 for private-sector employees. However, it was intended to offer financial support to the employee and their family in the happening of an unforeseen event. Under the EDLI, the insured employee will have life coverage. So, in the untimely death of the […]
Group Employee’s Deposit Linked Insurance(EDLI)
Features of Employee Deposit Linked Insurance Scheme you did not know
The Employee Deposit Linked Scheme (EDLI) is an insurance cover for the life of the employees of the organized sector. A lump sum payment is provided to the beneficiary of the employee in case the employee dies during the service period. All the organizations that are covered under the Employee’s Provident Fund and Miscellaneous Provisions […]
All that you need to know about EDLI
As we all are aware that most of the companies in the organized sector provide the provision of Employees’ Provident Fund (EFP). EPF and EPS (Employees’ Pension Scheme) are 2 major retirement savings policies specially meant for the salaried workers. It is compulsory for every employee, who is earning a monthly basic pay up to […]
What is FCL in Group EDLI Schemes by the insurers?
Employees of an organized sector have the opportunity to get life cover through a group employee deposit linked insurance. According to this scheme, the family member of the employee gets the sum insured in case the employee dies during the service period. The amount of cover in group employee deposit linked insurance policy is determined […]
What are the ways Sum Assured can be defined under Group EDLI policy for employees?
Group employees deposit linked insurance policy offers cover to the life of the employees and offers to protect their family members. In the event of the death of the employee, a lump sum amount is paid to the nominee of the employee in case he dies during his service period. This group of employees’ deposit-linked […]