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^ - ABSLI Nishchit Aayush Plan (UIN No 109N137V05), Provided 0 year deferment & monthly income frequency is chosen at the time of inception of the policy. ADV/8/23-24/1409
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I agree to the Terms of Usage and Privacy Policy. By submitting my contact details here, I override my NDNC registration and authorize ABSLI to contact me by phone/e-mail/SMS/WhatsApp. 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. BEWARE OF SPURIOUS / FRAUD PHONE CALLS! IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint. ABSLI Nishchit Aayush is a non-linked non-participating individual savings life insurance plan (UIN No 109N137V05)

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Group Insurance

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Definition:
An insurance policy that covers a defined group of people, such as employees of a company or members of a group is called a group insurance policy.
Description:
A group insurance plan comes at a low premium and can be made into customised plans. The group insurance policy is for the benefit of both employee and the employer. The policy helps the policyholder/employer in employee retention.A group insurance policy can be of these types:
  • Term life insurance: The sum assured or the coverage amount is paid to the family of the deceased group member (employee) due to the sudden death.
  • Gratuity: A group gratuity scheme is for the employees who complete 5 years in an organisation.
  • Credit Risk: The group insurance policies also protect the employees who have taken loans in life. The group policy provides protection in case of unfortunate death or disability.
Example:
REC Limited bought a group term life insurance policy that covered all the 255 employees working in the company. One employee Arnab went on a company’s tour where he met with an accident and died. The company filed for the claim and paid the dependents in the family, the amount of sum assured.
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Newly Added Terms

Newly Added Terms on Insurance Dictionary
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Death Benefit
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Insurability
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Key Employee or Keyman
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Insurer

Most Appreciated Terms

Most appreciated Terms on Insurance Dictionary
Absolute Assignment
Beneficiary
Claim
Commission
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Buy ₹ 1 Cr Term Cover @Rs.492/month
for Salaried Individuals¹
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Buy ₹1 Crore Term Cover @ @Rs.492/month for Salaried Individuals¹
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ABSLI Salaried Term Plan
Exclusively For Salaried Individuals
4 Plan Options
Life Cover upto 70 years
Optional Accelerated Critical Illness benefit
Inbuilt Terminal Illness Benefit
Life Cover
₹1 crore
Premium:
₹492/month¹
  • Disclaimer

    ABSLI Salaried Term Plan (UIN:109N141V01) is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 2 (Life Cover with ROP) this product shall be a non-linked non-participating individual savings life insurance plan.
    1LI Age 21, Male, Non Smoker, Option 1: Life Cover, PPT: Regular Pay, SA: ₹ 1 Cr., PT: 10 years, Premium paying term: 10 years, Annual Premium: ₹ 5900/- ( which is ₹ 491.66/month) Premium exclusive of GST. On death, 1 Cr SA is paid and the policy terminates.
    ADV/6/22-23/420