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Aditya Birla Sun Life Insurance Company Limited
Aditya Birla Sun Life Insurance Company Limited
ABSLI Group Smart Select Plan
Key Features
Availability of multiple coverage options
Coverage for multiple co-borrowers
Covers all types of loan products
Option to choose level or Reducing cover
Plan Options
Cover stays at same level over the entire policy term
Cover decreases as per repayment schedule
Benefit
Bigger Cushion
This group insurance plan gives the option to enhance the sum assured up to 125% of the loan
Enhanced Benefits Through Options
Avail optional benefits by choosing from a comprehensive list of inbuilt options available
Eligibility
| Cover Term | 1 month – 30 years (in multiples of 1 month, not exceeding underlying loan tenure) |
|---|---|
| Premium Payment Term (PPT) | Single Pay |
| Entry Age | 14 years (age as on last birthday) for Base cover 18 years (age as on last birthday) for other benefit options In case of minor lives, risk shall commence immediately on enrolment acceptance. Maximum: 79 years (age as on last birthday) for Base cover 63 years (age as on last birthday) for other benefit options |
| Maximum Maturity Age | 80 years (age as on last birthday) for Base cover 70 years (age as on last birthday) for other benefit options |
| Minimum Premium Amount | Re. 0.40 |
| Maximum Annualized Premium | No limit |
| Minimum Sum Assured | Rs 10,000 |
| Maximum Sum Assured | No limit subject to Board Approved Underwriting Policy. Original Sum Assured shall not exceed 125% of outstanding loan amount. |
| Minimum Number of Members | 5 members |
| Maximum Number of Members | No limit |
| Minimum Top-up Sum Assured | Rs. 5,000 |
Optional Benefits
Accidental Death Benefit (Additional)
Provides an additional amount equal to the sum assured chosen by the member along with sum assured as specified in the policy in the event of accidental death.
Accidental Total And Permanent Disability (Accelerated)
Enhancing financial cushion by providing an additional amount in the event of an accident causing total and permanent disability.
FAQs
The premium amount depends on the characteristics of the loan, age and gender of the member insured. It will also depend on the optional benefits availed and applicable taxes, among others.
ABSLI Group Smart Select plan helps you establish yourself as a caring and thoughtful employer by ensuring your members’ family don’t bear the burden of loan repayment in case of death of the primary earning member.
For your members, it gives peace of mind knowing that their family will not have to undergo the hassles of loan repayment and forgo their dream.
This group insurance plan gives you the option to choose from multiple plan combinations. Refer to the product brochure to know more.
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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.”
This policy 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 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 IRDAI Reg. No. 109 | CIN: U99999MH2000PLC128110
ADV/10/24-25/1884 UIN: 109N125V01