What is Employer-Employee Insurance Scheme?

Help employees protect their loved ones by assuring financial security to their beneficiaries in the event of their death, thus acting as a great retention tool.

Our integrated employer-employee insurance schemes help you cover the most prized assets of your organisation, employees, against unforeseen events, thus securing their family's financial future.

Why Choose Employer-Employee Insurance Scheme?

The primary reason for availing employer-employee insurance is to boost your employees' morale and give them peace of mind. By taking an interest in the well-being of your employees, you can leverage their potential to the maximum.

  • Acts as a great tool to attract and retain talent
  • Secures the financial future of your employees’ family
  • Helps lower employer tax liability*
  • Customised plans to suit everyone’s requirement

Our Employer-Employee Insurance Scheme

ABSLI Group Protection Solution

Offers financial security to the concerned employee’s beneficiaries in the event of his/her death and ensures they are not left in a lurch.

A cost-effective insurance solution for employees
  • Complete flexibility in terms of sum assured and premium options
  • Comprehensive coverage through a range of riders
  • High coverage at a low premium

ABSLI Group Income Replacement

Ensures financial security to your employees in the event of permanent disability or diagnosis of critical illness.

Acts as a sound employee retention tool
  • Flexibility to choose premium payment
  • Flexibility to choose sum assured
  • Multiple options to receive income benefits

Benefits of Employer-Employee Insurance Scheme

Boost company culture

Helps enhance your company’s culture, bringing core values to life, and driving employee satisfaction and retention

Financial security for employees’ family

Ensures your employees and their beneficiaries receive the funds and much-needed support in times of distress

360-degree coverage

Cost effective and hassle-free claim settlement with a comprehensive and 360-degree coverage through a range of riders.

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 Critical Illness Plus Rider (UIN 109B009V04)

    One of the most exhaustive critical illness riders in the market, ABSLI Critical Illness Plus Rider offers coverage against 13 critical illnesses.

  • ABSLI Critical Illness Rider (UIN 109B006V04)

    Offer enhanced protection to your group members in case they are diagnosed with any one of the critical illnesses/conditions covered under this rider.

  • ABSLI Group Accelerated Critical Illness Premier Rider (UIN 109B021V03)

    A comprehensive critical illness rider, it offers coverage against eight critical ailments including heart attack, cancer, stroke and kidney failure among others.

  • ABSLI Group Accelerated Terminal Illness Rider (UIN 109B022V03)

    Provide an added layer of financial protection by paying 100% of the sum assured in the event of diagnosis of a terminal illness.

  • ABSLI Group Critical Illness Premier Rider (UIN 109B020V03)

    Gives financial cushion against astronomical costs of treatment of critical ailments including open chest CABG, cancer of specified severity, and major surgery of aorta.

  • 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.

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

Frequently Asked Questions

  • What is employer-employee insurance scheme?

    Employer-employee insurance scheme generally forms a part of group plans offered by insurers to corporates and entrepreneurs that help them secure the financial future of their employees in the event of an unfortunate incident.

  • Is it necessary to buy employer and employee insurance scheme?

    No, it isn’t. However, it is recommended that you do so as it helps build employee loyalty. With these plans, your love and care for your employees are reflected, and they help you build a long-lasting partnership.

  • What is unique about ABSLI’s employer-employee Insurance scheme?

    ABSLI’s employer-employee solutions are designed to provide comprehensive protection to your employees and secure the financial future of their dependents against uncertainties of life. Opting for them helps in employee retention and put their skills for growth. Insurance benefit for employees is a vital tool in your arsenal to win the talent war.

  • What is the basis of sum assured?

    Sum assured depends on many factors, including the size of the group and the underwriting guidelines. Check out the plan brochure to know more.

  • Who will pay the premium?

    Premium options under our plan allow employer or employee or both to pay premium in some agreed proportion.

  • Who is the master policyholder?

    Under our plan, the employer, trust or association is the master policyholder whereas members are lives assured.

  • Will the premium change in the coming year?

    Premium may change in case there’s a change in the demography of the group or its nature of business.

  • Who will be the nominee in Group Term Life policy?

    Nominee is the person last nominated by the member who is registered with the policyholder to receive policy benefits in event of the member’s death.

  • Does it have tax benefits*?

    Tax benefits are subject to prescribed conditions. Tax benefits are applicable as per extant tax law.

  • Is suicide covered from day one?

    Yes

Why Choose ABSLI’s Employer Employee Insurance Scheme?

Bank on us for employer-provided life insurance because of:

  • 100+ Years of legacy
  • Pan India presence
  • Claims settlement ratio of 99.81% for FY 2019-20
  • 2.9Days Average Claim Settlement TAT post receiving all documents

GROUP SERVICES

* Tax benefits subject to changes in the 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.”

This policy 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.

This policy 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 www.adityabirlasunlifeinsurance.com IRDAI Reg. No. 109 | CIN: U99999MH2000PLC128110 ADV/11/20-21/1603 UIN: 109N006V06 |UIN: 109N110V01