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ABSLI Group Asset Assure Plan is a non-linked, non-participating plan wherein the institution/employer is the policyholder & the borrowers/employees/depositors are the members insured.

The 'human touch' is an enduring quality that all organizations aspire to achieve because in return it rewards them with loyalty. Be it a financial institution aiming at customer constancy or an employer looking at retaining talented employees, loyalty can be achieved by showing your customers or employees that you care.

Individuals often accomplish their financial goals and aspirations through personal savings or loans. But, what happens in the event of the unfortunate death of such an individual? Not only is the wealth creation plan disrupted, but sometimes the family of the deceased has to bear the burden of loan repayment.

With ABSLI Group Asset Assure Plan, you can show your customers/employees that you care by securing their families from such hassles. You can now assure your customers/employees that their families would not have to forego their dreams or bear the brunt of loan repayment, should anything unfortunate happen to them.
ABSLI Group Asset Assure Plan
ABSLI Group Asset Assure Plan is a non-linked, non-participating plan wherein the institution/employer is the policyholder & the borrowers/employees/depositors are the members insured.
ABSLI Group Asset Assure Plan offers two benefit options…
Asset Assure Classic
Protection for the assets created through loans or planned savings in the event of the death of the member.
Asset Assure Premier
Protection for the assets created through loans or planned savings in the event of the death or Total Permanent Disability of the member.
ABSLI Group Asset Assure Plan provides protection for:

  1. Assets created through loan
    • Home Loan
    • Education Loan, Car/Vehicle Loan
    • Personal Loan, Credit card
    • Any Other Loan eg. Loan against Property

  2. Assets created through savings
    • Fixed deposit
    • Recurring Deposit
    • Any other investment eg. Systemic Investment Plan.
Key features:

  • Covers all types of loans and wealth creation products
  • Flexible Premium Paying Terms – Single pay, 5 pay and Regular pay
  • Level Sum Assured or Variable Sum Assured
  • Cover available during the moratorium period (with/without interest repayment)
  • Joint life cover, where the loan is in the name of both members
  • Surrender value is payable in case of single premium or short pay options
  • Tax benefits available as per current tax laws


Minimum Sum Assured
Rs 5,000
Minimum Entry Age
18 years
15 years for education loan
Maximum Maturity Age
Asset Assure Classic

Asset Assure Premier

For Single Pay: 73 years
For 5 Pay & Regular Pay: 70 years
For Single Pay: 63 years
For 5 Pay & Regular Pay: 60 years

Minimum Policy Term
Single Pay – 2 years
5 pay and Regular Pay -5 years
Maximum Policy Term
35 years
Maximum Maturity Age
Asset Assure Classic
Asset Assure Premier

75 years
65 years

In case of joint life, the elder person's age will be considered for both the maximum age at entry and at maturity; while the younger person's life will be considered for the minimum age at entry.


Your premium will depend on the characteristics of the loan/saving scheme and the age/gender of the members insured. Goods and Services tax (GST) along with other applicable taxes as per the existing tax laws will be added to your premium and levied as per the extant tax laws.

You can pay your Premiums either monthly, quarterly, semi-annually or annually.

Your Premium paying term can be Single Pay, 5 pay or Regular Pay.

The premium due will equal the annual premium (plus any non-standard extras) multiplied by:
  • 1.000 if paid annually;
  • 0.520 if paid half yearly;
  • 0.265 if paid quarterly; or
  • 0.090 if paid monthly

Coverage Options

The plan offers two coverage options –

Level Sum Assured

The Sum Assured remains constant throughout the term of the loan/savings scheme.

Variable Sum Assured

The Sum Assured will be customized to the loan/savings scheme characteristics. The Sum Assured will remain constant throughout each coverage year.

Other features

Cover during moratorium period

Cover is applicable during moratorium period.

Joint life comes with two coverage options

  • Sum Assured equal to each member's specific share in the loan amount– On the payout of benefit to one of the members, the cover for the other member continues as per the respective Certificate of Insurance
  • Sum Assured for each member equal to 100% of the loan amount– On the payout of benefit to one of the members, surrender benefit (if any) for other member is paid and the coverage terminates.

Coverage Continuation

Members have the option to continue their coverage in the event the master policyholder has surrendered the policy.

Important Definition

Total and Permanent Disability

A member shall be regarded as disabled and entitled to this benefit if due to any illness, disease, injury or surgical operation, he is totally and permanently unable to engage in gainful employment in any occupation whatsoever, even with reasonable training, rehabilitation and/or job accommodation.

This disability should last for continuous period of at least 180 days before being eligible for total and permanent disability benefits.

Total and permanent disability also includes loss of –
  • both arms or both legs, or
  • one arm and one leg, or
  • both eyes

Loss of arms or legs means dismemberment by amputation of the entire hand or foot. Loss of eyes means entire and irrecoverable loss of sight.


Suicide clause

We will refund 80% of the premiums paid to date (excluding GST) in the event the member dies by suicide, whether medically sane or insane, within one year after the coverage issue date. In case member dies by suicide, whether medically sane or insane within one year of the reinstatement date of the policy we shall pay the higher of surrender value as on the date of death or 80% of premiums paid to date.

Total and Permanent Disability Benefit:

In case of total and permanent disability, the benefit shall be payable, except when such disability is directly or indirectly caused, occasioned, accelerated or aggravated by any of the following reasons –

  • Suicide or self inflicted injury, irrespective of whether the member is medically sane or insane
  • War, terrorism, invasion, act of foreign enemy, hostilities, civil war, martial law, rebellion, revolution, insurrection, military or usurper power, riot or civil commotion. War includes both declared and undeclared war-like instances
  • Service in the armed forces, or any police organization, of any country at war or service in any force of an international body
  • Committing an assault, a criminal offence, an illegal activity or any breach of law
  • Taking or absorbing, accidentally or otherwise, any intoxicating liquor, drug, narcotic, medicine, sedative or poison, except as prescribed by a licensed doctor other than the member assured
  • Inhaling any gas or fumes except accidentally or accidentally in the course of one's duty
  • Participation in aviation other than as a fare-paying passenger in an aircraft that is authorized by the relevant regulations to carry such passengers between established aerodromes

Additional Information

Current Tax Benefits

As per extant tax laws, this plan offers tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961, subject to fulfillment of the other conditions of the respective sections prescribed therein. Tax laws are subject to amendments from time to time.

As per the current provision of Section 194DA of the Act; the policy proceeds are subject to TDS if conditions prescribed under Section 10(10D) are not met.

You are advised to consult your tax advisor for applicability of tax benefits on premiums paid and benefits received.

Policy Loans

No policy loans are offered under this plan.

Grace Period / Lapse/ Revival

If you are unable to pay the premium by the due date, you will be given a grace period of 30 days during which time coverage will continue.

If you do not pay premium within the grace period, then

For 5-Pay policies, that have paid premiums for at least two full policy years, the policy will continue on a reduced paid up basis

For Regular Pay policies and 5-Pay policies that have not completed two full policy years, the policy will lapse and risk coverage cease.

You will then have two years from the first unpaid premium due date to revive the cover. This can be done by (a) paying all the due and unpaid premiums plus interest and (b) providing evidence of insurability satisfactory to us.

Waiting Period

Non applicable.

Free-Look Period

You will have the right to return your policy to us within 15 days from the date of receipt of the policy. We will refund all premiums paid by you till date, once we receive your written notice of cancellation (along with reasons thereof) together with the original policy documents.


Allowed as per the provisions of Section 39 of the Insurance Act, 1938 as amended from time to time. For more details on the nomination, please refer to our website

Section 41 of the Insurance Act, 1938

No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.

Any person making default in complying with the provisions of this section shall be punishable with a fine which may extend to ten lakh rupees.

Fraud and Misrepresentation

As per the provisions of Section 45 of the Insurance Act, 1938 as amended from time to time. For more details on Section 45 of the Insurance Act, please refer to our website

Aditya Birla Sun Life Insurance – A coming together of values

Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a subsidiary of Aditya Birla Capital Ltd (ABCL). and is one of the leading private sector life insurance companies in India. ABSLI was incorporated on August 4, 2000, and commenced operations on January 17, 2001. ABSLI is a 51:49 a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a leading international financial services organization in Canada.

Formerly known as Birla Sun Life Insurance Company Limited, ABSLI is one of India's leading life insurance companies offering a range of products across the customer's life cycle, including children future plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans and Unit Linked Insurance Plans ("ULIPs").

ABCL, the holding company, is a Universal Financial Solutions provider and one of the largest financial services players in India. It is committed to serving the end-to-end financial needs of its retail and corporate customers under a unified brand — Aditya Birla Capital. Delivering a wide range of money solutions for protecting, investing and financing, Aditya Birla Capital serves millions of customers across the country.

Apart from life insurance, ABCL has a significant presence across several business sectors including NBFC, asset management, health insurance, housing finance, private equity, general insurance broking, wealth management, broking, online personal finance management and pension fund management.

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked, non-participating traditional group insurance plan. ABSLI reserves the right to recover levies such as GST levied by the authorities on insurance transactions. If there be any additional levies, they too will be recovered from you. This brochure contains only the salient features of the plan. For further details, please refer to the policy contract. Tax benefits are subject to changes in the tax laws. Registered Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. Call Centre: 1-800-270-7000 Reg. No. 109 | CIN: U99999MH2000PLC128110 ADV/6/18-19/2963

Unique No. 109N045V03