The DAS is a long term investment plan which assures adequate retirement income employers employees when they retire. The accumulated cash investment enables the insured employee who has served for more than five (5) years from the commencement of the scheme to draw up to fifty (50%) of his/her contribution to meet obligations such as school fees and other short-term commitments. It can also be arranged to partly accommodate house purchase.

The DAS plan is available for employees ranging from age 18 to 59 years. The administration of the scheme is done in collaboration with the interested organization and GLICO LIFE arranges to deduct premium at source; which is highlighted on the employees’ pay slip each month.

in view of the fact that the deduction is a percentage of monthly salary, contributions made by employees automatically increase with an increase in salary.


Upon earlier termination or retirement from service, the insured (employee), in accordance with the scheme rules, can choose to take either of the following benefits:

  • Gratuity Benefit: a lump sum of money payable outright at the end of employee’s service.
  • Annuity Benefit: a monthly income payable over a period of five (5) years certain; or as may be determined by employee (for example: 10 years or for life).
  • Hybrid benefit: a combination of 50% of the principal sum payable as gratuity/end-of-service benefit and the remaining part payable as annuity benefit over a period of five (5) years certain; or as may be determined by employee.

Optional Benefits:

An insured employee may apply for a loan after the first anniversary ( end of one year) of the policy or apply to take part of the accumulated investment (partial withdrawal) after five years( the period could be reviewed by board of trustees) of continuous contribution.



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