ABSLI Group Protection Solutions


PROTECTING your family’s financial future now with customisable options


ABSLI Group Protection Solutions serves as an ideal way for companies to reinforce their bond with their employees. It provides life cover to the member, by paying a lump sum benefit to the beneficiary in case of an unfortunate event. There is also a range of optional benefits available to cover other risks like accidental death, disability, critical and terminal illness.

Key Features

  • Comprehensive cover through optional benefits
  • Total flexibility, where the sum assured could be constant for all eligible employees or could vary according to grade or salary
  • High degree of customization, flexibility and standardization
  • Simple and easy administrative processes
  • Death Benefit

    On death of the Member during the Base Cover term, the Sum Assured on Death is payable

  • Choose your own benefit

    You have the flexibility of choosing the Cover options from level cover or increasing cover

  • Individual Conversion Option

    The member has the option to continue their coverage as an individual policy in the event the policyholder has surrendered the policy

  • Customisable Benefit

    Choose from the range of 5 optional benefits and 5 riders

Under ABSLI Group Protection Solutions the employer, trust or association is the master policyholder and the Members are the life insured.

  • Group Size

    Minimum: 5 members

    Maximum: No Limit

  • Minimum Age at Entry

    18 years (Age last birthday)

  • Maximum Age at Entry

    Long term Base Cover: 65 years

    Other Base Cover: 79 years

    Optional Benefits: 64 years (Age last birthday)

  • Maximum Age at Maturity

    Long term Base Cover: 85 years

    Other Base Cover options: 80 years

    Optional Benefits: 65 years (Age last birthday)

  • Sum Assured Options

    a)  Level Sum Assured

    b)  Increasing Sum Assured
  • Minimum Sum Assured

    Long term Base Cover: Rs. 30,00,000 at inception

    Others: Rs. 5,000 per Member

  • Maximum Sum Assured

    No Limit subject to Board Approved Underwriting Policy (BAUP)

  • Minimum Premium Amount

    Rs. 2.30 per member

  • Maximum Premium Amount

    No limit

  • Minimum Policy Term

    One year renewable term: 1 year

    Others: Member’s Cover term shall be at least 1 month, Group Master policy shall continue indefinitely until terminated

  • Maximum Policy Term

    One year renewable term: 1 year

    Others: Maximum Member’s Cover term shall be 40 years; Group Master policy shall continue indefinitely until terminated

  • Cover Term

    One year renewable term#
    Minimum: 1 Year | Maximum: 1 Year

    Single Pay*
    Short Term
    Minimum: 1 month | Maximum: 5 Years
    Long Term
    Minimum: 6 years | Maximum: 40 years

    Limited Pay
    Short Term: NA
    Long Term
    Minimum: 6 years | Maximum: 40 years

    Regular Pay
    Short Term
    Minimum: 2 Years | Maximum: 5 Years
    Long Term
    Minimum: 6 years | Maximum: 40 years

    # Only under Single Pay level cover, subject to the boundary conditions the cover term can be chosen in multiple of 1 month. For e.g. 7 months, 13 months, 28 months etc.

    * Where One year renewable term cover is offered, Member may be covered for one full year from the date of admission or upto next renewal of the policy.

  • Premium Paying Term

    One Year Renewable Term
    Minimum: 1 Year | Maximum: 1 Year

    Single Pay
    Short Term: Single Pay
    Short Term: Single Pay

    Limited Pay
    Short Term: NA
    Long Term
    Minimum: 5 Years | Maximum: 5 Years

    Regular Pay
    Short Term
    Minimum: 2 Years | Maximum: 5 Years
    Long Term
    Minimum: 6 years | Maximum: 40 years
  • Premium Paying Mode

    One year renewable term, Regular/Limited Pay – Annual, Semi-annually, Quarterly or Monthly
    Single Pay – Single

  • Note: coverage under this product is classified into following categories:

    OYR: One Year Renewable
    Short term: Cover term between 1 month to 5 years
    Long term: Cover term exceeding 5 years

Riders

  • Accidental Death Rider (UIN 109B004V04) (AD)

    Addition of ABSLI Accidental Death Rider will customize group insurance cover for your members and provide them financial protection in the event of accidental death.

  • Accidental Death and Dismemberment Rider (UIN 109B005V04) (ADD)

    Addition of ABSLI Accidental Death & Dismemberment Rider will customize group insurance cover for your members and provide them financial protection in the event of accidental death as well as dismemberment.

  • Term Rider (UIN 109B007V04) (Term)

    Addition of Term Rider will customize group insurance cover for your members and provide them financial protection in the event of death.

  • ABSLI Group Comprehensive Critical Illness Rider (UIN: 109B040V01)

    Addition of Comprehensive Critical Illness Rider will customize group insurance cover for your members and provide them financial protection in the event life insured is diagnosed to be suffering from covered critical illnesses conditions.

  • Total & Permanent Disability Rider (UIN 109B010V04) (TPD)

    Addition of Total and Permanent Disability Rider will customize group insurance cover for your members and provide them financial protection in the event of permanent disability.

There are exclusions attached to the rider, please refer rider exclusion section in brochure for more details. Please refer to detailed brochures on riders, or visit our website for further details

Frequently Asked Questions

  • Do I need to offer this product to all members?

    Not necessarily. Since you are the master policyholder, you can offer to all on a compulsory basis or a select few on a voluntary basis.

  • What is the cover term available in this plan?

    Coverage terms available as follows

    One year renewable term#
    Minimum: 1 Year | Maximum: 1 Year

    Single Pay*
    Short Term
    Minimum: 1 month | Maximum: 5 Years
    Long Term
    Minimum: 6 years | Maximum: 40 years

    Limited Pay
    Short Term: NA
    Long Term
    Minimum: 6 years | Maximum: 40 years

    Regular Pay
    Short Term
    Minimum: 2 Years | Maximum: 5 Years
    Long Term
    Minimum: 6 years | Maximum: 40 years

    # Only under Single Pay level cover, subject to the boundary conditions the cover term can be chosen in multiple of 1 month. For e.g. 7 months, 13 months, 28 months etc.

    * Where one year renewable term cover is offered, Member may be covered for one full year from the date of admission or upto next renewal of the policy.

  • How much premium do I need to pay for this?

    Premium amount depends on the risk assessment of the group. Please reach out to us to know about applicable premiums.

  • What are the optional benefits available in this plan?

    The Member can choose to avail any benefits from the below mentioned optional benefits

    1. Accidental Death Benefit (Additional)
    2. Essential Critical Illness Cover (Accelerated CI 10)
    3. Super Critical Illness Cover (Accelerated CI 25)
    4. Mega Critical Illness Cover (Accelerated CI 50)
    5. Waiver of Premium on Critical Illness and Accidental Total & Permanent Disability

  • Are there any inbuilt benefits in this plan?

    Yes. Terminal Illness cover is an inbuilt feature in this plan. This benefit is payable in case Member is diagnosed with Terminal Illness during the Base Cover term. Terminal Illness benefit as specified in the benefit schedule/certificate of insurance shall be paid in lumpsum and all future premiums shall be waived, provided the Cover is in force.

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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 conditions please read sales brochure carefully before concluding the sale.

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a Non-Linked Non-Participating Group Term Life 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 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 sales.

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 https://lifeinsurance.adityabirlacapital.com/ IRDAI Reg. No. 109

CIN: U99999MH2000PLC128110 UIN: 109N006V09 ADV/12/23-24/3104