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Important: As per Finance Act 2016, from 01st June 2016, due to introduction of Krishi Kalyan Cess @ 0.5%, service tax rates has been revised . Consequently, for unit linked plans, the additional service tax will be deducted in the form of units. For non-linked plans, there will be an increase in the policy premium amount.   Click here  to know more.

Group Asset Assure

BSLI Group Asset Assure Plan is a non-linked, nonparticipating plan wherein the institution/employer is the policyholder & the borrowers/employees/depositors are the members insured.

The 'human touch' is an enduring quality that all organizations aspire to achieve because in return it rewards them with loyalty. Be it a financial institution aiming at customer constancy or an employer looking at retaining talented employees, loyalty can be achieved by showing your customers or employees that you care.

Individuals often accomplish their financial goals and aspirations through personal savings or loans. But, what happens in the event of the unfortunate death of such an individual? Not only is the wealth creation plan disrupted, but sometimes the family of the deceased has to bear the burden of loan repayment.

With BSLI Group Asset Assure Plan, you can show your customers/employees that you care by securing their families from such hassles. You can now assure your customers/employees that their families would not have to forego their dreams or bear the brunt of loan repayment, should anything unfortunate happen to them.
BSLI Group Asset Assure Plan
BSLI Group Asset Assure Plan is a non-linked, non-participating plan wherein the institution/employer is the policyholder & the borrowers/employees/depositors are the members insured.
BSLI Group Asset Assure Plan offers two benefit options…
Asset Assure Classic
Protection for the assets created through loans or planned savings in the event of the death of the member.
Asset Assure Premier
Protection for the assets created through loans or planned savings in the event of the death or Total Permanent Disability of the member.
BSLI Group Asset Assure Plan provides protection for:

  1. Assets created through loan
    • Home Loan
    • Education Loan, Car/Vehicle Loan
    • Personal Loan, Credit card
    • Any Other Loan eg. Loan against Property

  2. Assets created through savings
    • Fixed deposit
    • Recurring Deposit
    • Any other investment eg. Systemic Investment Plan.
Key features:

  • Covers all types of loans and wealth creation products
  • Flexible Premium Paying Terms – Single pay, 5 pay and Regular pay
  • Level Sum Assured or Variable Sum Assured
  • Cover available during the moratorium period (with/without interest repayment)
  • Joint life cover, where the loan is in the name of both members
  • Surrender value is payable in case of single premium or short pay options
  • Tax benefits available as per current tax laws


Minimum Sum Assured
Rs 10,000
Minimum Entry Age
18 years
15 years for education loan
Maximum Entry Age
Asset Assure Classic
Asset Assure Premier

65 years
60 years
Minimum Policy Term
Single Pay – 2 years
5 pay and Regular Pay -5 years
Maximum Policy Term
30 years
Maximum Maturity Age
Asset Assure Classic
Asset Assure Premier

70 years
65 years

In case of joint life, the elder person's age will be considered for both the maximum age at entry and at maturity; while the younger person's life will be considered for the minimum age at entry.


Your premium will depend on the characteristics of the loan/saving scheme and the age/gender of the members insured. Service tax and education cess along with other applicable taxes as per the existing tax laws will be added to your premium and levied as per the extant tax laws.

You can pay your Premiums either monthly, quarterly, semi-annually or annually.

Your Premium paying term can be Single Pay, 5 pay or Regular Pay.

The premium due will equal the annual premium (plus any non-standard extras) multiplied by:
  • 1.000 if paid annually;
  • 0.520 if paid half yearly;
  • 0.265 if paid quarterly; or
  • 0.090 if paid monthly

Coverage Options

The plan offers two coverage options –

Level Sum Assured

The Sum Assured remains constant throughout the term of the loan/savings scheme.

Variable Sum Assured

The Sum Assured will be customized to the loan/savings scheme characteristics. The Sum Assured will remain constant throughout each coverage year.

Other features

Cover during moratorium period

Cover is applicable during moratorium period.

Joint life comes with two coverage options

  • Sum Assured equal to each member's specific share in the loan amount– On the payout of benefit to one of the members, the cover for the other member continues as per the respective Certificate of Insurance
  • Sum Assured for each member equal to 100% of the loan amount– On the payout of benefit to one of the members, surrender benefit (if any) for other member is paid and the coverage terminates.

Coverage Continuation

Members have the option to continue their coverage in the event the master policyholder has surrendered the policy.

Important Definition

Total and Permanent Disability

A member shall be regarded as disabled and entitled to this benefit if due to any illness, disease, injury or surgical operation, he is totally and permanently unable to engage in gainful employment in any occupation whatsoever, even with reasonable training, rehabilitation and/or job accommodation.

This disability should last for continuous period of at least 180 days before being eligible for total and permanent disability benefits.

Total and permanent disability also includes loss of –
  • both arms or both legs, or
  • one arm and one leg, or
  • both eyes

Loss of arms or legs means dismemberment by amputation of the entire hand or foot. Loss of eyes means entire and irrecoverable loss of sight.


Suicide clause

We will refund 80% of the premiums paid to date (excluding service tax) in the event the member dies by suicide, whether medically sane or insane, within one year after the coverage issue date. In case member dies by suicide, whether medically sane or insane within one year of the reinstatement date of the policy we shall pay the higher of surrender value as on the date of death or 80% of premiums paid to date.

Total and Permanent Disability Benefit:

In case of total and permanent disability, the benefit shall be payable, except when such disability is directly or indirectly caused, occasioned, accelerated or aggravated by any of the following reasons –

  • Suicide or self inflicted injury, irrespective of whether the member is medically sane or insane
  • War, terrorism, invasion, act of foreign enemy, hostilities, civil war, martial law, rebellion, revolution, insurrection, military or usurper power, riot or civil commotion. War includes both declared and undeclared war-like instances
  • Service in the armed forces, or any police organization, of any country at war or service in any force of an international body
  • Committing an assault, a criminal offence, an illegal activity or any breach of law
  • Taking or absorbing, accidentally or otherwise, any intoxicating liquor, drug, narcotic, medicine, sedative or poison, except as prescribed by a licensed doctor other than the member assured
  • Inhaling any gas or fumes except accidentally or accidentally in the course of one's duty
  • Participation in aviation other than as a fare-paying passenger in an aircraft that is authorized by the relevant regulations to carry such passengers between established aerodrome

Additional Information

Current Tax Benefits

Member will be eligible for tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961. All payments due under this plan shall be governed by tax laws applicable at that point of time.

Policy Loans

No policy loans are offered under this plan.

Grace Period / Lapse/ Revival

If you are unable to pay the premium by the due date, you will be given a grace period of 30 days during which time coverage will continue.

If you do not pay premium within the grace period, then

For 5-Pay policies, that have paid premiums for at least two full policy years, the policy will continue on a reduced paid up basis

For Regular Pay policies and 5-Pay policies that have not completed two full policy years, the policy will lapse and risk coverage cease.

You will then have two years from the first unpaid premium due date to revive the cover. This can be done by (a) paying all the due and unpaid premiums plus interest and (b) providing evidence of insurability satisfactory to us.

Waiting Period

In case of non-accidental death, a waiting period of 45 days is applicable for a member who has not undergone medical examination, starting from the date of issue or revival of coverage.

Free-Look Period

You will have the right to return your policy to us within 15 days from the date of receipt of the policy. We will refund all premiums paid by you till date, once we receive your written notice of cancellation (along with reasons thereof) together with the original policy documents.


Allowed as per the provisions of Section 39 of the Insurance Act, 1938 as amended from time to time. For more details on the nomination, please refer to our website

Prohibition of Rebates – Section 41 of the Insurance Act, 1938

No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer.

Any person making default in complying with the provisions of this section shall be punishable with a fine which may extend upto 10 Lakh rupees.

Fraud and Misrepresentation

As per the provisions of Section 45 of the Insurance Act, 1938 as amended from time to time. For more details on Section 45 of the Insurance Act, 1938 please refer to our website

Birla Sun Life Insurance – A coming together of values

About Birla Sun Life Insurance
Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a well known Indian conglomerate and Sun Life Financial Inc., one of the leading international financial services organisations from Canada. With an experience of over a decade, BSLI has contributed to the growth and development of the Indian life insurance industry and is currently one of the leading life insurance companies in the country. BSLI has a customer base of close to two million policy holders. The Company offers a complete range of offerings comprising protection solutions, children's future solutions, wealth with protection solutions, health and wellness solutions, retirement solutions and savings with protection solutions. It has an extensive distribution reach in over 400 cities through its network of over 507 branches, around 90,000 empanelled advisors and over 153 partnerships with corporate agents, brokers and banks. Birla Sun Life Insurance has total assets under management of '30,185 Crores and a robust capital base of over '2,170 Crores, as on 31st March, 2015. For more information, please visit

About Aditya Birla Financial Services Group
Aditya Birla Financial Services Group (ABFSG) ranks among the top 5 fund managers in India (excluding LIC) with an AUM of INR 164995 crore. Having a strong presence across the life insurance, asset management, NBFC, private equity, retail broking, distribution & wealth management, online money management, and general insurance broking, ABFSG is committed to serve the end-to-end financial services needs of its retail and corporate customers. The eight companies representing ABFSG are: Birla Sun Life Insurance Company Ltd., Birla Sun Life Asset Management Company Ltd., Aditya Birla Finance Ltd., Aditya Birla Housing Finance Ltd., Aditya Birla Capital Advisors Pvt. Ltd., Aditya Birla Money Ltd., Aditya Birla Money Mart Ltd. and Aditya Birla Insurance Brokers Ltd. In FY 2014-15, ABFSG reported consolidated revenue from these businesses close to Rs. 7926 Crore and earnings before tax of approx Rs. 849 Crore. Anchored by about 12,000 employees and trusted by over 6.5 million customers, ABFSG has a nationwide reach through 1,500 points of presence and about 200,000 agents / channel partners.

About Sun Life Financial
Celebrating 150 years in 2015, Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth products and services to individuals and corporate customers. Sun Life Financial and its partners have operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2015, the Sun Life Financial group of companies had total assets under management of $813 billion. For more information please visit Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
This policy is underwritten by Birla Sun Life Insurance Company Limited (BSLI). This is a non-linked, non-participating traditional group insurance plan. BSLI reserves the right to recover levies such as the Service Tax and Education Cess levied by the authorities on insurance transactions. If there be any additional levies, they too will be recovered from you. This brochure contains only the salient features of the plan. For further details, please refer to the policy contract. Tax benefits are subject to changes in the tax laws. Insurance is the subject matter of the solicitation. Registered Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. Reg. No. 109 | CIN: U99999MH2000PLC128110. ADV/5/17-18/350 VER1/MAY/2017

IRDAI hereby clarifies to the public that
  • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums
  • IRDAI does not announce any bonus.
    Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.
Unique No. 109N045V02
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For more details on risk factors, terms and conditions please read sales brochure carefully before concluding the sale.

Trade Logo displayed above belongs to SUN LIFE ASSURANCE COMPANY OF CANADA and ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED and used by BIRLA SUN LIFE INSURANCE COMPANY LIMITED as per terms and conditions of license Agreement.

Registered Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. CIN: U99999MH2000PLC128110 Registration No. 109.


IRDAI clarifies to the public that,
  • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
  • IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with the details of the phone call.