Aviva introduces “Traditional Group Employee Benefit Plan”

The plan aims at helping employers efficiently manage funds set aside to meet their employee benefit program liabilities

Aviva Life Insurance has launched its group retirement benefit product "Aviva Traditional Group Employee Benefit Plan". The plan aims at helping employers efficiently manage funds set aside to meet their employee benefit program liabilities. These pertain to meeting gratuity, pension and leave encashment liabilities payable on resignation, retirement or death of their employees. The leave encashment benefit may include the encashment of leaves by the members while in service, depending on the scheme rules. 

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TN govt introduces new medical insurance scheme

The new scheme would cover 950 types of medical treatment against the previous government’s scheme of 642 types

Tamil Nadu chief minister Jayalalithaa has announced an improved medical insurance cover under which a family can derive a maximum benefit of Rs4 lakh for four years.

The new scheme would cover 950 types of medical treatment against the previous government's scheme of 642 types, Jayalalithaa said.

"Under the new scheme, a family can avail medical benefits of up to Rs4 lakh for four years while it was Rs1 lakh for four years according to the previous scheme," she said. The new scheme also allots Rs1.50 lakh per year for some specific diseases, Jayalalithaa said in a statement.

Jayalalithaa said expenses on certain tests prior to and after surgeries would also be covered under the new scheme, "which were not there in the previous scheme."

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Deutsche MF launches Fixed Term Fund-Series 86

Deutsche Mutual Fund new issue closes on 13th July

Deutsche Mutual Fund has launched DWS Fixed Term Fund-Series 86 (DFTF-86), a close-ended income scheme.

The investment objective of the scheme is to generate income by investing in debt and money market instruments maturing on or before the date of the maturity of the scheme. The tenure of the scheme is 250 days.

The new issue closes on 13th July. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Index is the benchmark index. Kumaresh Ramkrishnan is the fund manager.

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