Under this plan the employer signs an agreement with State Life for remitting the premiums to State Life by deducting the same from the salaries of those employees who buy individual policies on voluntary basis.

Eligibility Requirements:

The above scheme can only operate if there are at least ten employees willing to participate in it and the aggregate monthly premium is at least Rs. 1000.

Type of Policies:

The Salary Saving Plan may be applied to any policies the rates of which are given in the Rate Book (including Child Protection Policy table 07). In fact a different type of policy may be selected by each of the employees of an organisation, if so desired.

Indivivdual policies are issued to the employees in the usual way but premium notices and receipts are addressed to the employer.

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