What is Voluntary Insurance Scheme?


A unique and niche product offering an optional life cover to your employees without incurring any additional cost.


An offering that establishes you as a caring employer, ABSLI’s Voluntary Insurance scheme allows your employees to obtain additional coverage that helps their families address crucial needs in the event of any eventuality.

Why Select Voluntary Insurance Scheme?


A voluntary insurance scheme helps plug the gaps present in the employer offered plan. It gives your employees an extra layer of cushion that might otherwise be unavailable, by leveraging your group’s buying power, without you having to incur any additional cost.

  • Fill the gap between need of the employee and offered by the employer
  • Aligning to global trend and possibility of saving cost in future
  • Helps employees reduce financial stress, thus improving their health
  • Affordable premium rates with benefits available at no cost to employer

Our Voluntary Products

ABSLI Group Income Replacement

An innovative market first product that guarantees monthly income in case diagnosed with specified critical illness or total and permanent disability.

A prudent income replacement offering
  • Securing income and ensuring essential needs are met with utmost ease
  • Flexibility of choosing the cover
  • Enhance retention of channel partners
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ABSLI Group Protection Solution

Assures financial protection to the beneficiary of the concerned group member in the event of death.

A comprehensive protection solution
  • 360-degree protection to the dependents of the group members
  • Creating uniform and variable cover for members across the group
  • Cost-effective and essential partner engagement tool
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  • Convenience

    Convenience at your fingertips with a complete digital journey and higher non-medical rates

  • Affordable Premiums

    This plan offers affordable premium rates due to group construct than standalone policies

  • Customised Solutions

    Customised solutions to help your employees make an informed choice aligning to their needs

  • Helps Fill Void

    Helps fill the void missing due to rise in cost and reduction in employee benefit

  • All employees of the organisation
  • Age group between 18 – 65

Riders

  • ABSLI Accidental Death Rider (UIN 109B004V04)

    Customise group insurance cover for your members and provide them financial protection in the event of permanent disability with ABSLI Accidental Death Rider.

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

    Provide an additional layer of financial protection for your group members in case of any event leading to permanent disability with ABSLI Accidental Death and Dismemberment Rider.

  • ABSLI Term Rider (UIN 109B007V04)

    The Rider will customize group insurance cover for your members and provides their families a financial protection in the event of their death.

  • ABSLI Total and Permanent Disability Rider (UIN 109B010V04)

    Offers an extra layer of cushion to your group members and protect their financial interests in case of a permanent disability.

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

    Addition of Critical Illness Premier 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. o Critical Illness – (CI-4)
    o Critical Illness – (CI-10)
    o Critical Illness – (CI-15)
    o Critical Illness – (CI-25)
    o Critical Illness – (CI-50)

Please refer to detailed brochures on riders, or visit our website for further details.

FAQs

  • What is the need for Voluntary Insurance scheme?

    Voluntary Insurance Schemeis an ideal way to fortify bond with your employees. Often due to rising costs, employers are forced to reduce benefits offered to employees.

    Voluntary Insurance Scheme fills this void and is a cost-effective alternative serving the interest of both parties, thus securing short term and medium term protection need of employees.

    Leveraging your group’s buying power, employees get additional insurance coverage at a lesser price than stand-alone policies. Thus, with this plan, you can establish yourself as a thoughtful and caring employer.

  • What is special about ABSLI’s Voluntary Insurance Scheme?

    With ABSLI’s Voluntary Insurance Scheme, your employees can leverage your group’s buying power to obtain additional coverage suiting their specific requirements and avail tax benefits1 on the same.

    Our team works in tandem with you to know the needs of your organisation and provide affordable rates and customised plan-specific details that help your employees make an informed choice.

Why Choose Voluntary Insurance Scheme?

Bank on us for voluntary insurance scheme because of:

  • Our in-depth market expertise
  • Innovative product structuring matching your needs
  • Rich legacy spanning over 100 years
  • Cost-effective products with high-levels of customisation

Group Services

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1 Tax benefits are subject to changes in tax laws

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.

ABSLI Group Protection Solution plan is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked, non-participating group 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 sale. Please refer the Exclusions Section in the sales brochure for details on Exclusions and the Terms & Conditions.

ABSLI Group Income Replacement plan is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked, non-participating group 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 sale. Please refer the Exclusions Section in the sales brochure for details on Exclusions and the Terms & Conditions.

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 |UIN: 109N110V01 ADV/12/23-24/3111