Salary Saving Plan Under this plan the employer signs an agreement with State Life for remitting the premiums to State Life by deducting the same from.

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Presentation transcript:

Salary Saving Plan Under this plan the employer signs an agreement with State Life for remitting the premiums to State Life by deducting the same from the employees salary. The above scheme can only operate if there are at least ten employees and the aggregate monthly premium is at least Rs This scheme may be applied to all plans. In fact different type of policy may be selected by each of the employees, if so desired. Individual policies are issued to the employees when each one completes their requirements.

Calculation Find out the annual premium of any plan with policy fees. Add 5% to the annual premium, get the total and divide by 12 and you get the monthly premium.

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