COMPLEMENTARY RETIREMENT GROUP
Product Name | Group Supplementary Retirement Insurance |
Type | Group Contract |
Object | The contract is underwritten by a company (the Contractor) for the benefit of its staff. It guarantees in case of :
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insured
Exclusion of a member |
Any employee of the Contractor aged between 18 and 60 having completed and signed the application form validated by the Contractor .
Unless reluctance, omission or misrepresentation an insured can not be removed from the insurance as long as he is a member of the group’s insurable workforce and provided his premium has been paid. |
Contract length | For each insured, the duration of the contract is equal to the difference between his retirement age and his age at subscription. |
Premium
Periodicity Premium distribution Payment method |
The overall annual premium of the contract is determined by applying the prime rate to the total gross annual salary of the insured .
The annual premium rate shall be fixed by the Contractor. The annual premium of the contract may be :
Premiums are payable annually . However, they may at the request of the Contractor be paid monthly, quarterly or semi-annually. The subscriber has the option to pay the premium by direct debit, or by check. |
Guaranteed capital | The amount of the guaranteed capital is fixed in the Special Conditions. It is determined , for each insured, by the capitalization at the technical rate of premiums paid over the duration of the contract. |
Total surrender
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The aggregate redemption is possible at the request of the Contracting when the insured has contributed three annual premiums. |
Information of the member | The company is committed to :
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Termination of guarantees | Contract guarantees cease :
– At the end of the contract – In the event of death or permanent total disability – If the relationship between the insured and the employer breaks
– In case of termination of the Agreement |