Insurance Solutions for SME Businesses

A partnership firm is known to protect the interest of each partner. In an unforeseen circumstance like untimely and unfortunate death of a partner, the future of the business may be in jeopardy if the company has to look out for the partner’s family/bear the cost of their liabilities. A life insurance policy can protect the company’s financial assets and take care of any costs that would otherwise have to be borne by the surviving partners.

Insurance policy offered by Aditya Birla Sun Life Insurance under Partnership Scheme, ensures that the continuity of the business is maintained even in the eventuality of losing a partner. Partnership Scheme is ideal for all the partners of the firm. The most important benefit offered under this scheme is that on the death of the insured partner, the firm will have liquidity available to purchase the deceased partner's share.

Features & Benefits:

 

  • Ensures that working capital requirements are not

  • Compromised to buy out the share of the deceased partner

  • Risk mitigation & business continuity

  • Reduces the risk of partners having to bring

  • Additional funds to purchase the share of the deceased partner

  • (1) Tax benefits under section 37(1) of the Income Tax Act, 1961 - (1)Tax benefit is subject to changes in the tax laws, please consult your tax advisor for more details.

Partnership-Scheme

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.”

For more details on risk factors, terms and condition please read the sales brochure carefully before concluding the sale.

Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Registered Office: One Indiabulls Centre,Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Website:www.adityabirlasunlifeinsurance.com and toll-free no. 1800-270-7000. IRDAI Reg No.109 CIN: U99999MH2000PLC128110 ADV/11/19-20/1127

A business, while has its share of profits, also presents you with liabilities from time to time. In your absence, these liabilities can prove to be a heavy burden on your loved ones. So, how do you protect your family from bearing substantial business expenses in an unforeseen situation? Insurance policy offered by Aditya Birla Sun Life Insurance under The Married Women's Property scheme aims to insulate your investments against business liabilities so that your family get what rightfully belongs to them under any circumstances.

The Married Women’s Property Scheme comprises of two sections:

  • Section 6 of the MWP Act, 1874

  • Section 5 of MWP Act, 1874.

Section 6 of the MWP Act, 1874:

A policy of insurance effected by any married man on his own life, and expressed on the face of it to be for the benefit of his wife, or of his wife and children, or any of them, shall ensure and be deemed to be a trust for the beneficiaries based on the interest so expressed, and shall not, so long as any object of the trust remains, be subject to the control of the husband, or to his creditors, or form part of his estate - Extract from MWPA 1874 Bare Act.

Section 5 of MWP Act, 1874:

Any married woman may affect a policy of insurance on her own behalf and independently of her husband; and the same and all benefit, thereof, if expressed on the face of it to be so effected, shall ensure as her separate property, and the contract evidenced by such policy shall be valid” - Extract from MWPA’1874 Bare Act.

Under an MWPA policy/policies you will be able to generate a corpus that is free from creditors, other encumbrances and attachments (even in case of insolvency), provided there was no fraudulent intention in creating this instrument.

Features & Benefits:

 

Under Section 6 of MWP Act, 1874

 

  • A tool to ensure your wealth is passed down only to your desired loved one/s

  • Helps create an insulated corpus for your beneficiaries

  • Ensure your family is protected against any future financial adversities

  • Estate planning tool

  • Desired allocation of corpus for intended beneficiaries

  • Help the family maintain a better lifestyle even in case of financial adversities

  • (1)Tax benefits under section 80C and 10 (10) D as applicable - (1)Tax benefit is subject to changes in the tax laws, please consult your tax advisor for more details

Under Section 5 of MWP Act, 1874

 

  • Corpus created which is insulated from the liabilities of your husband

  • Benefits under this policy will go to the life insured on any chosen nominee

  • (1)Tax benefits under section 80C and 10 (10) D as applicable - (1)Tax benefit is subject to changes in the tax laws, please consult your tax advisor for more details

Married-Woman-Property-Scheme

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.”

For more details on risk factors, terms and condition please read the sales brochure carefully before concluding the sale.

Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Registered Office: One Indiabulls Centre,Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Website:www.adityabirlasunlifeinsurance.com and toll-free no. 1800-270-7000. IRDAI Reg No.109 CIN: U99999MH2000PLC128110. ADV/11/19-20/1126

All employees are important for running an organisation, but there are key stakeholders who spearhead all functions and guides team for smooth running of business. In the absence of key stakeholders, a business might suffer from financial losses.

Insurance Policy offered by Aditya Birla Sun Life Insurance under Keyman Scheme is purchased by an employer on the life of its key employee/s to protect the business from financial losses occurring due to untimely and unfortunate death or illness or exit of the employee. Only term solutions are offered under Keyman Scheme.

Keyman scheme is an essential part of a sound and comprehensive risk management strategy of a business.

Features & Benefits:

 

  • Safeguard the business from financial losses occurring due to death/critical illness of key employee

  • Risk mitigation & business continuity

  • Provides corpus for ex gratia payment to the family of deceased employee

  • Business protected on human capital can attract finance on favourable terms

  • Corpus for fresh hiring/pay off any liabilities

  • (1)Tax Benefit - (1)Tax Benefits are subject to changes in the tax laws, please consult your tax advisor for details

Keyman-Scheme

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.”

For more details on risk factors, terms and condition please read the sales brochure carefully before concluding the sale.

Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Registered Office: One Indiabulls Centre, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Website: www.adityabirlasunlifeinsurance.com and toll-free no. 1800-270-7000. IRDAI Reg No.109 CIN: U99999MH2000PLC128110. ADV/11/19-20/1125

As a part of an organization’s employee welfare scheme, an employer can retain and reward his/her employees while protecting their life, with an insurance policy offered by Aditya Birla Sun Life Insurance under an Employer Employee Scheme. Under this scheme, an employer provides life insurance to their employees - thereby giving them financial security and an opportunity to build a sizeable retirement corpus.

Features & Benefits:

 

Employer Benefits:

 

  • Gains employee’s loyalty & boosts employee morale

  • Enhances employee retention

  • Reward and promote employee engagement

  • Saves cost of hiring and training new employee

  • (1)Tax Benefit - (1)Tax Benefits are subject to changes in the tax laws, please consult your tax advisor for details.

Employee Benefits:

 

  • Sense of financial security and performance reward

  • Financial Security for the dependants

  • Build retirement corpus

Employer-Employee-Scheme

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.”

For more details on risk factors, terms and condition please read the sales brochure carefully before concluding the sale.

Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Registered Office: One Indiabulls Centre,Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Website:www.adityabirlasunlifeinsurance.com and toll-free no. 1800-270-7000. IRDAI Reg No.109 CIN: U99999MH2000PLC128110. ADV/11/19-20/1123

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