Skip Ribbon Commands
Skip to main content
 
One of the biggest challenges that modern progressive organizations face is managing People. Attracting and retaining talent, improving overall employee performance and optimizing the cost of employee benefits are the focus area for an organization working towards building long term success and value. After all, happy and satisfied employees ensure happy and satisfied customers.
Vision.jpg

One of the biggest challenges that modern progressive organizations face is managing People. Attracting and retaining talent, improving overall employee performance and optimizing the cost of employee benefits are the focus area for an organization working towards building long term success and value. After all, happy and satisfied employees ensure happy and satisfied customers.

Organizations which have a comprehensive employee benefits strategy are better positioned to achieve these objectives. The challenge is to contain the ever burgeoning cost without impacting the value of benefits.

With these challenges and objectives in perspective, Aditya Birla Sun Life Insurance (ABSLI) offers ABSLI Group CapSecure Plan a simple yet effective group non-linked plan.
 
PLAN AT A GLANCE
 
ABSLI Group CapSecure Plan is a comprehensive group insurance solution. It is a non-linked, non-participating, yearly renewable group plan wherein, the employer, trust or sponsor is the master policyholder and the members of the scheme are the lives assured. This plan has the following key constituents:
  • Choice to maintain individual accounts at member level or pooled accounts for the scheme
  • Contributions received from you are added to the respective Policy Account
  • Interest is added to the Policy Account at the end of each Fiscal Quarter. A Minimum Floor Rate of 0.1% pa is guaranteed from inception for the lifetime of policy
  • Payment of benefits as per your scheme rules from the Policy Account
  • Guarantee of amount in Policy Account equivalent to Contributions less payment in respect of member exit plus quarterly interest addition at all times except on surrender or bulk exits
 
This plan enables master policyholders to manage their assets under the following schemes:
  • Leave Encashment Schemes
  • Gratuity Schemes
 
ELIGIBILITY

Under ABSLI Group CapSecure Plan the employer, trust or sponsor is the master policyholder and the members of the scheme are the lives assured.

Minimum Group Size
10 members
Minimum Age at Entry
18 years
Maximum Age at Entry

As per scheme rules up to 70 years (last birthday)

Maximum Age at Maturity
As per scheme rules up to 75 years (last birthday)
Minimum Premium
Rs.10,000
Minimum Policy Term
Annually renewable
Sum Assured
Rs.1,000 per member


 
PREMIUMS


Premiums are payable according to your scheme funding requirements. Your policy will be managed with accounts for each covered member or a pooled single account.

Annual premium of Re 1 per member for a built-in life insurance cover of Rs 1,000 per member will be charged to master policyholder.

Master policyholder has the convenience to pay the premium by yearly, half yearly, quarterly or monthly modes by the due date. In case of non-payment of premium, the policyholder can continue the policy as long as the surrender value does not fall below Rs 1 lacs. Even on non-receipt of premium, the policy will automatically get renewed at the then existing terms and conditions on each renewal date, provided there is enough balance in the policy account as per the scheme rules. The policyholder will have option to pay the entire due but unpaid premium fully or partially anytime as long as the policy is inforce. As soon as the surrender value falls below Rs 1 lacs the policy will be terminated and the surrender value will be paid to the policyholder.

POLICY ACCOUNT VALUE


The Policy Account Value is the sum of contributions and quarterly interest additions less payments in respect of member exit and deduction towards the insurance cover if any. At all times, the liability of ABSLI in respect of a policy is limited to the total Policy Account Value.


OTHER TERMS AND CONDITIONS


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 the premium paid once we receive your written notice of cancellation (along with reasons thereof) together with the original policy documents. We will deduct expenses incurred by us on medical examination (if any) and stamp duty charges while issuing your policy.

Policy loan provisions

Policy loan is not available under this plan.

Termination

If at any time the surrender value falls below Rs. 1,00,000, then you will be given 90 days to pay further premiums. If you are unable to pay the premium till the end of this period, the policy will be terminated and the surrender value paid. If further premiums are paid during the notice period, and the surrender value increases above Rs. 1,00,000, the policy will continue.

Tax Benefits

Tax benefits under this plan are as per extant tax laws; you are advised to consult your tax advisor for details.

Goods and Services Tax (GST)

ABSLI reserves the right to recover levies such as GST levied by the authorities on insurance transactions.

Nomination

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 www.adityabirlasunlifeinsurance.com.
It is the responsibility of the policyholder to maintain the nominee details under this policy and is responsible to provide the nomination details to ABSLI along with the claim form

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 10 Lakh rupees.

Any person making default in complying with the provisions of this section shall be punishable with a fine which may extend to 10 Lakh rupees.

Fraud and Misrepresentation

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


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.

www.adityabirlacapital.com/lifeisnurance



Disclaimer
Untitled Document This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked, non-participating fund based group plan. The amount of Contributions less payment in respect of member exit plus quarterly interest addition are reflected in the Policy Account Value and is guaranteed at all times. ABSLI's liability is limited to the Policy Account Value plus the Sum Assured. 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 salient features of the plan including risk factors, terms & conditions, please read the brochure carefully before concluding the sale. For further details please refer to the policy contract. Tax benefits subject to changes in the tax laws. For more details on this plan visit our website.Registered Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. Reg. No. 109 | CIN: U99999MH2000PLC128110 ADV/10/18-19/3531 VER1/OCT/2018
UIN: 109N084V02