Group CapSecure Plan - Retirement Solutions

Aditya Birla Sun Life Insurance Company Limited

ABSLI Group CapSecure Plan

What Is ABSLI’s Group CapSecure Plan?

ABSLI Group CapSecure Plan is a comprehensive group insurance solution. It is a non-linked, non-participating, yearly renewable group plan wherein, the employer, trust or sponsor is the master policyholder and the members of the scheme are the lives assured.

Key Features

Choice to maintain individual accounts at member level or pooled accounts for the scheme

Contributions received are added to respective policy account

Interest on the investment is declared at the start of each month

Offers guaranteed amount in policy account

Plan Brochure Policy Contract Leaflet

Benefits Of ABSLI Group CapSecure Plan

All benefits under the policy will be paid as per the scheme rules. The master policyholder may maintain individual non-pooled accounts for each member. Otherwise, premiums will be credited to pooled policy accounts whose balance is accrued to the master policyholder.

Interest Rate Declaration

ABSLI shall declare interest rates at the start of each month, subject to minimum floor of 0.1% p.a, excluding applicable tax, if any. The relevant interest rate applicable to each policy shall accrue at the end of each quarter. This interest rate shall be declared and credited in accordance with the Board approved policy of the insurer. The interest rate declared is net of a management charge of 0.5% p.a. The insurer can change it, subject to IRDAI approval.

Benefits Payable On Member Exit

On a member exit, the master policyholder may claim from the policy an amount in accordance with the scheme rules as applicable, subject to a maximum of the Policy Account Value after any applicable MVA. In case individual member accounts are maintained in the policy, the maximum payment from the policy account shall be the Policy Account value, after any applicable MVA, for each exiting member separately.

In addition, if the member exit is due to death ABSLI will pay the Sum Assured of Rs. 10,000 The policy account value for existing members will have Interim Interest added for the period from the end of the last Fiscal Quarter to the exit date. The Interim Interest rate for this purpose will be the last declared Interest Rate. When a payment is requested for a member on exit, ABSLI needs sufficient evidence to establish that a benefit is payable under the scheme rules and the amount of benefit then due.

Bulk Exits

If the amount to be paid on total exits during the policy year exceeds 25% of the policy account values as at the beginning of the year, such transactions shall be treated as bulk exits, where exit shall be as per the scheme rules. Exit shall mean exit of the member from the group. MVA shall be applied to the amount which is over and above the amount representing bulk exit threshold i.e. above 25% of the policy account value at the start of the policy year. Provided there is sufficient policy account value on Bulk Exit, the policyholder may choose (in accordance with the scheme rules) whether the MVA is deducted from the exit payment or from the remaining account value. For individual accounts, the MVA will be adjusted in the amount payable itself.

Surrender Benefit

You can surrender the policy anytime by providing us 30 days advance notice about the intention to surrender. The surrender value will be the Policy Account Value less the Market Value Adjustment (MVA) if any. No surrender charge is applicable on surrender of the policy.

Prior to payment of surrender value, ABSLI will credit interest to Policy Account for the period from the end of the last Fiscal Quarter to the date of receipt of surrender request. This interest credit will be the last declared Interest Rate.

Criteria	Details
Minimum Group Size	10 members
Minimum Age at Entry	18 years
Maximum Age at Entry	As per scheme rules up to 70 years (last birthday)
Maximum Age at Maturity	As per scheme rules up to 75 years (last birthday)
Minimum Premium	Rs.10,000
Minimum Policy Term	One Year (Annually Renewable)
Maximum Policy Term	Annually renewable. Policy to continue indefinitely until it’s surrender, or expiry of membership term of existing members and there are no new members
Sum Assured	Rs.10,000 per member

Frequently Asked Questions

Yes. ABSLI’s Group CapSecure Plan provides guaranteed returns where the interest on your investment is declared at the start of each month.

You will get a life cover of Rs. 10,000 for all your employees with this plan. You will be charged Rs. 6 per member per year for this life insurance cover.

Yes. You can cancel the plan anytime during the free-look period of 30 days from the date of receipt of the policy document.

The surrender benefits will be the policy account value less the Market Value Adjustment (MVA) if any

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ABSLI Group Capital Assured Traditional Plan

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked, non-participating fund based group plan. The amount of Contributions less payment in respect of member exit plus quarterly interest addition are reflected in the Policy Account Value and is guaranteed at all times. ABSLI’s liability is limited to the Policy Account Value plus the Sum Assured. 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. This Brochure contains salient features of the plan including risk factors, terms & conditions, please read the brochure carefully before concluding the sale. For further details please refer to the policy contract. Tax benefits subject to changes in the tax laws. For more details on this plan visit our website.
UIN: 109N084V04
ADV/10/24-25/1908

ABSLI Group CapSecure Plan

What Is ABSLI’s Group CapSecure Plan?