ABSLI Group Unit Linked Plan
THIS IS A FUND BASED GROUP LINKED PRODUCT. IN THIS PRODUCT, THE INVESTMENT RISK IN THE FUND PORTFOLIO IS BORNE BY THE POLICYHOLDER
ABSLI Group Unit Linked Plan is a Fund Based Group Linked Product. It will be offered to Employer- Employee groups for managing Gratuity and Leave Encashment Liabilities. An automatic life insurance cover of Rs. 5000/- per member is granted under this product.
The sponsor of the scheme will be the master policyholder, henceforth referred to simply as ‘the policyholder’.
At the inception of the scheme the policyholder shall pay ABSLI a contribution pertaining to the past service in respect of the members or transfer the existing fund to ABSLI.
Any contributions received will be converted into units for each account and tracked separately. The contributions can be invested in one or more of ABSLI funds as per the policyholder’s request. All contributions should be paid to ABSLI with relevant details with respect to account and segregated fund allocation.
The policyholder may specify the number of accounts he wants to maintain the fund in. Contributions will be invested account wise, and fund value will be tracked for each account separately.
The policyholder may want to manage the policy with multiple accounts if he wants to maintain separate fund for each member (e.g. defined contribution schemes) or separate fund by his office units (e.g. unit / zone-wise schemes).
New accounts can be opened at any time by making fresh contributions specified at the time of payments.
The contributions or premiums to group schemes by the master policyholder shall be made in accordance with the funding requirements as per scheme rules.
ADITYA BIRLA SUN LIFE INSURANCE – A COMING TOGETHER OF VALUES
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”). www.adityabirlasunlifeinsurance.com.
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.
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. www.sunlife.com
*(all the above numbers mentioned in the About Aditya Birla Capital Limited is as on June 30th, 2019).
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 www.adityabirlasunlifeinsurance.com
Reg. No. 109 | CIN: U99999MH2000PLC128110 ADV/11/19-20/1085
UIN : 109L036V04