Benefits

Key Features


  • Guaranteed¹ maturity benefits.

  • Loyalty Additions to boost maturity corpus.

  • Comprehensive life insurance cover.

  • Option to cover your spouse by choosing Joint Life Protection

  • Option to enhance your cover with riders.

Benefits of ABSLI Assured Savings Plan
​​​​​​​ABSLI Assured Savings Plan for life cover and savings, to manage crises in life.

Benefits of ABSLI Assured Savings Plan


ABSLI Assured Savings Plan for life cover and savings, to manage crises in life.

Death Benefit:

In the event of death of the Life Insured during the Policy Term and provided that the Policy is In-force, the Death Benefit will be payable to the Nominee(s)/ Legal heir(s). Nomination can only be effected if the Policyholder and Life Insured are the same.

We will pay a lump sum guaranteed “Death Benefit” which shall be, if: 1) Death of the Life Insured happens any time up to the 25th Policy Year, - Sum Assured on Death; plus - Accrued Loyalty Additions (if any) 2) Death of the Life Insured happens any time after the 25th Policy Year, - Higher of Sum Assured on Death or Guaranteed¹ Maturity Benefit; plus - Accrued Loyalty Additions (if any)

Where, The Sum Assured on death is: For Single Pay policies: · Sum Assured For Limited Pay policies: Higher of, · 150% of the Total Premiums Paid up to the date of death · Sum Assured where Sum Assured is equal to a multiple, depending upon Life Insured’s age at inception of the Policy, of the Annualized Premium or Single Premium

Maturity Benefits:

On Survival of the Life Insured till the end of the Policy Term provided the Policy is in-force and all due Instalment Premiums under the Policy have been paid, you will receive lumpsum Maturity Benefit which shall be: Guaranteed Maturity Benefit; plus Accrued Loyalty Additions

Joint Life Protection

This option is available only for Limited Pay Policies. If this option has been chosen at inception of the Policy, then under this option, two lives, the Primary Life Insured and the Secondary Life Insured (spouse) are covered under the same Policy. This option needs to be chosen at the inception of the policy and cannot be changed subsequently. The coverage for the secondary life insured will be equal to 20% of the Sum Assured of the Primary life insured.

Tax Benefit2: 

The policyholder may be entitled to certain applicable tax benefits on premiums paid and on benefit(s) received under his/her policy. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek an independent tax advice.

Savings plan without riders is insufficient cover


Make your plan better with rider³ plans and save smart.

  • ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)

This rider provides 100% of Rider Sum Assured as an additional lump sum amount in case of death due to accident of Life Insured. Additionally, the rider premiums collected aſter the date of Accident till date of death, shall be refunded with interest, along with death benefit payable. This rider is only applicable for a Life Insured aged 18 years & above and the rider Policy Term cannot exceed the base Policy Term.

  • ABSLI Critical Illness Rider (UIN: 109B019V03)

This rider provides lump sum on survival of 30 days from the date of diagnosis of any of the specified critical illnesses. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term.

  • ABSLI Surgical Care Rider (UIN: 109B015V03)

This rider provides lump sum benefit in case of hospitalization for a minimum period of 24 hours for undergoing medically necessary surgery in India. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term.

  • ABSLI Hospital Care Rider (UIN: 109B016V03)

This rider provides daily cash benefit in case of hospitalization for a minimum period of 24 hours for medically necessary treatment of any Illness or Injury payable from the first day for the duration of hospitalization. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term.

  • ABSLI Waiver of Premium Rider (UIN: 109B017V03)

This rider waives off all future premiums of the base plan and the attached riders throughout the rest of the premium payment in case of diagnosis of Critical Illness, Disability or Death (only if Life Insured is a minor i.e., below 18 years of age and is different from the Policyholder).

How does ABSLI Assured Savings Plan work?


Use Case 1:

  • Mr. Sharma, aged 35 years, purchased ABSLI Assured Savings Plan. He chose the policy premium paying terms 8 years, policy term 16 years.
  • Mr. Sharma decided to pay his premiums annually with annualised premium of ₹1,00,000/- (exclusive of taxes). Total premium paid for 8 years will be equal to ₹8,00,000/-
  • Mr. Sharma survives through the Policy Term and receives Guaranteed Maturity Benefit and Accrued Loyalty Additions at the end of Policy term.

Use Case 2:

  • Mr. Sharma, aged 35 years, purchased ABSLI Assured Savings Plan. He chose these at the inception of the policy premium paying terms 8 years, policy term 16 years.
  • Mr. Sharma decided to pay his premiums annually with annualised premium of ₹1,00,000/- (exclusive of taxes). Total premium paid for 8 years will be equal to ₹8,00,000/-
  • He died in the beginning of the 12th policy year. In this scenario, Mr. Sharma’s nominee will receive death benefit and the policy will terminate.



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