Our Credit Life Insurance Scheme Products
Benefits of ABSLI Credit Life Insurance Scheme
Affordable and low-cost product
Hassle-free claim settlement
Helps build customer loyalty
High non-medical cover limits
Option to cover up to 125% of the sum assured
Prevent losses
Tax benefits for customers
FAQs
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What’s the need to buy credit life insurance scheme?
Credit life insurance scheme primarily serves two purposes. It protects you, the lender, against non-repayment of loan in the event of the borrower’s death and also helps build customer loyalty.
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What’s the eligibility criteria for buying credit life insurance scheme?
Eligibility criteria differs across plans. Refer to plan brochures for more information.
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Why should I cover loan for customers with credit life insurance scheme?
Repayment of loan becomes a tall order for the family of the borrower in case of untoward incident. While hypothetically you can re-possess the asset in case of non-payment of outstanding loan EMI, the same doesn’t augur well for both parties.
However, with credit life insurance scheme, the family of the borrower doesn’t have to undergo the hassle of loan repayment as the outstanding loan amount is paid through the policy. Thus, while on one hand it protects your loan from turning into a non-performing asset (NPA), on the other hand it ensures that the family of the borrower doesn’t forgo the asset created with the loan.
Why Choose ABSLI Credit Life Insurance Scheme?
Avail our credit life insurance scheme because of our:
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Coverage to a wide range of portfolios
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High group claim settlement ratio of 99.81% standing for FY 19-20
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Presence in 18 states and 85+ locations
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2.77 million lives covered as of March 31, 2020
Group Services
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Service for Policy Holders
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Customer Support
Call Us
For West region - 9088020805
For South region - 9916992444
For East and North region - 9560425798
Write to Us
For or any query, Please write to absli.grouphelpline@adityabirlacapital.com
For West region - Anandita.Dubey2@adityabirlacapital.com
For South region - Karundeep.Kaur@adityabirlacapital.com
For East and North region - Ashish.Bhardwaj@adityabirlacapital.com
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* Benefits are subject to fulfilment of the other conditions of the respective sections prescribed therein. Tax laws are subject to amendments from time to time.
Disclaimer:
The Trade Logo “Aditya Birla Capital” Displayed Above Is Owned By ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) And Used By ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the License.”
ABSLI Group Asset Assure plan 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. For further details, please refer to the policy contract. Tax benefits are subject to changes in the tax laws. For more details on risk factors terms and conditions, please read the sales brochure carefully before concluding the sale.
ABSLI Group Bima Yojana plan is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked non-participating group micro insurance term plan. All terms & conditions are guaranteed throughout the policy term. GST will be added (extra) to your premium and levied as per extant tax laws. For further details please refer to the policy contract. Tax benefits are subject to changes in the tax laws. For more details on risk factors terms and conditions, please read the sales brochure carefully before concluding the sale.
ABSLI Group Smart Select plan is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked non – participating Group Credit Life Insurance Plan. ABSLI reserves the right to recover levies such as the GST levied by the authorities on insurance transactions. If there be any additional levies, they too will be recovered from you. For further details, please refer to the policy contract. Tax benefits are subject to changes in the tax laws. For more details on risk factors terms and conditions, please read the sales brochure carefully before concluding the sale. Please refer the Exclusions Section in the sales brochure for details on Exclusions and the Terms & Conditions.
Registered Office: One World 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 IRDAI Reg. No. 109 | CIN: U99999MH2000PLC128110 VER1/OCT/2018 UIN:109N045V03 | UIN: 109N123V01| UIN: 109N125V01 ADV/11/20-21/1601