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In this policy, the investment risk in the investment portfolio is borne by the policyholder.​

In this policy, the investment risk in the investment portfolio is borne by the policyholder.

Today’s financial environment gives you the freedom to choose from a host of strategies and financial instruments. To be able to effectively manage your employee liabilities like Gratuity and Leave Encashment Schemes, it is important to invest your funds in products that offer you this freedom. Aditya Birla Sun Life Insurance presents Group Value Plus Plan, a plan that gives you the freedom to choose your investment vehicle based on your specific needs.


This is a fund based group linked product that can be used by policyholders to provide employee benefits like Gratuity and Leave Encashment Schemes. An automatic life insurance cover of Rs. 5,000 per member is granted. The policyholder of the scheme is an employer who will be managing the scheme.


You have a choice of three plan options A, B and C that enable you to select suitable plan fulfilling your specific needs.


Minimum Group Size
10 members
Sum Assured
Rs.5,000 per member
Minimum Age at Entry
18 years
Maximum Age at Entry
As per scheme rules /70 years
Maximum Age at Maturity
As per scheme rules /75 years
Minimum Rs.10,000 / No upper limit


At the inception of the scheme you can either pay ABSLI the premium in respect of the members or transfer the existing fund to ABSLI. This premium may be paid in one or more installments. You may also pay regular premiums into the fund. The contributions or premiums to group schemes by the master policyholder shall be made in accordance with the funding requirements as per scheme rules.

Your premium - will be converted into units for each account and tracked separately. The premium will be invested in one or more of ABSLI funds as per the plan option and investment option selected by you. All premiums should be paid to ABSLI with relevant details with respect to each account.

Multiple Accounts

You may specify the number of accounts you want to maintain. Your premium will be invested account wise and fund value will be tracked for each account separately. Your policy can be managed with multiple accounts as well as different fund allocation to suit each account. Additionally, you have the freedom to open new accounts at any time by paying fresh premium specified at the time of payment.


Free look in 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 pay the policy fund value plus all charges levied till date (excluding the fund management charge) once we receive your written notice of cancellation (along with reasons thereof) together with the original policy documents. Depending on our then current administration rules, we may reduce the amount of the refund by expenditures incurred by us in issuing your policy and as permitted by the IRDA and in accordance to IRDA (Protection of Policyholders Interest) Regulations, 2017.

Net Asset Value (NAV)

On each business day and for each Segregated fund, we determine the unit price by dividing the net asset value (NAV) of the Segregated fund at the valuation time by the number of units in existence for the Segregated fund in question. We publish the unit price of all Segregated funds on our website The net asset value (NAV) is determined based on (the market value of investments held by the fund plus the value of any current assets less the value of any current liabilities & provisions) divided by (the number of units existing at valuation date before creation or redemption of any units)

Grace Period

Not applicable for this product.

Policy Loan

Not applicable for this product.

Surrender of the Policy

On the policyholder terminating the policy, fund value in each account of the policy will be payable to the policyholder.

Automatic Termination

The policy will automatically terminate if the balance of the policy fund value falls below Rs. 10,000. The fund value net of any charges will be refunded to the policyholder.

Policy loan provisions

Policy loan is not available under this plan.

Switch of the Fund

The policy holder can choose to switch between any of the funds available under his policy with ABSLI (subject to any fund restrictions as may be applicable). Policyholder will be entitled to unlimited switches. On Switch from the Group Growth Maximiser Fund and Group Income Advantage Fund a switching charge of 2% of amount switched, subject to a maximum of Rs. 500 will be levied. Switch of funds will be affected at a NAV declared on the date of the request is received and accepted at the company’s office before 3:00 pm and on the next NAV declared if the request is submitted and accepeted at the company’s office after 3:00 pm on a working day.

Prohibition of Rebates - Section 41 of the Insurance Act, 1938, as amended from time to time

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 upto 10 lakh rupees.

Section 45 of the Insurance Act, 1938

No policy of life insurance effected after the coming into force of this Act shall, after the expiry of two years from the date on which it was effected be called in question by an insurer on the ground that statement made in the proposal or in any report of a medical officer, or referee, or friend of the life insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.

Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life insured was incorrectly stated in the application.


About Aditya Birla Sun Life Insurance, an Aditya Birla Capital Company

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

ABSLI (Formerly known as Birla Sun Life Insurance Company Limited), offers a range of life insurance 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”).

About Aditya Birla Capital

Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group. With subsidiaries that have a presence across Protecting, Investing and Financing solutions, ABCL is a financial solutions group that caters to diverse needs of its customers across their life cycle. With more than 18,000 employees, the subsidiaries of ABCL have a nationwide reach with 850+ branches and more than 2,00,000 agents/channel partners and several bank partners.

Aditya Birla Capital is a part of the Aditya Birla Group, a USD 48.3 billion Indian multinational, in the league of Fortune 500. Anchored by a force of over 120,000 employees, belonging to 42 nationalities, the Aditya Birla Group operates in 34 countries across the globe. * (All the above numbers mentioned in the About Us of Aditya Birla Capital Limited is as on June 30th, 2019).

About Sun Life Financial Inc, Canada

Sun Life Financial is an international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life Financial has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

This policy is underwritten by Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating unit linked plan. Birla Sun Life Insurance, ABSLI Group Unit Linked Plan are only the names of the Company and Policy respectively and do not in any way indicate their quality, future prospects or returns. The names of the funds offered in this plan do not in any way indicate their quality, future prospects or returns. The charges are guaranteed throughout the term of the policy unless specifically mentioned and subject to IRDA approval. The value of the investment fund reflects the value of the underlying investments. These investments are subject to market risks and change in fundamentals such as tax rates etc affecting the investment portfolio. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of investment fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. There is no guarantee or assurance of returns from the investment funds. ABSLI reserves the right to recover levies such as the service tax levied by the authorities on insurance transactions. If there be any additional levies, they too will be recovered from you. This brochure contains 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. Insurance is the subject matter of the solicitation. For more details and clarification visit our website. 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/11/19-20/1086

UIN : 109L055V04