ABSLI Group Smart Select Plan

A comprehensive cover securing the financial future of your members against the burden of loan taken.

ABSLI Group Smart Select Plan helps you ensure happiness of your members' family by making sure their assets don't become a liability in the absence of the chief breadwinner.

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

  • Level Cover

    Cover stays at same level over the entire policy term

  • Reducing Cover

    Cover decreases as per repayment schedule

  • 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

  • Multiple Plan Combinations

    You can opt for multiple plan combinations as per your requirements

The eligibility for this group insurance plan is:

  • Cover Term

    1 month – 30 years (in multiples of 1 month, not exceeding underlying loan tenure)

  • Premium Payment Term

    Single Pay

  • Entry age

    Minimum: 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 Number of Members


  • Maximum Number of Members

    No Limit

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.

Essential Critical Illness Cover (Accelerated CI 10)

Offers coverage in the event of diagnosis of 10 critical ailments including cancer of specified severity, Myocardial Infarction and open chest CABG among others.

Mega Critical Illness Cover (Accelerated CI 50)

Offers coverage against all critical illness covered by CI 10 and CI 25 along with others and helps take care of the astronomical cost of their treatment.

Super Critical Illness Cover (Accelerated CI 25)

Provides a financial cushion in the event of diagnosis of 25 critical ailments including major organ/bone marrow transplant, coma of specified severity and end-stage of liver failure among others.


  • How are the premiums computed?

    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.

  • How is ABSLI Group Smart Select plan beneficial for me and my members?

    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.

  • What are the plan combinations that I can choose?

    This group insurance plan gives you the option to choose from multiple plan combinations. Refer to the product brochure to know more.

Group Services


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/10/20-21/1245 UIN: 109N125V01