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ABSLI Assured FlexiSavings Plan
A Non-Linked Non-Participating Individual Life Insurance Savings Plan

Introducing ABSLI Assured FlexiSavings Plan - the new age way of saving your money. This plan offers you guaranteed returns to achieve your financial goals and the flexibility to access that corpus through unlimited withdrawals. The plan also protects you and your loved ones with a life cover.

Guaranteed1 Annual Income:

You get Guaranteed Annual Income which is accrued in your policy at the beginning of each year during the policy term after the deferred period.

Income Booster:

An Income Booster equal to 5% of the accrued amount is added to your policy at the end of each year during the policy term after the completion of Deferred Period, to grow your savings.

Loyalty Additions:

You get Loyalty Addition, as a percentage of accrued amount at the end of the policy term.

Additional Benefit:

As an additional cushion to your savings, Total Premiums Paid by you and further enhanced by 10% is payable along with the Accrued Amount under your policy on completion of the Policy Term.

Withdrawal Facility:

You have the flexibility to withdraw money up to the Accrued Amount under your policy at any point of time during the Policy Term to take care of your financial needs.

1Provided all premiums are paid

After the completion of the Premium Paying Term and Deferred Period you will receive the following survival benefits during the policy term.

1. Annual Income

An Annual Income as a percentage of annualized premium shall accrue under your policy at the beginning of each year. Annual Income varies by Premium Payment Term and Life Insured's age at inception of the policy, as shown in the below table:

Annual Income (as % of Annualized Premium) Life Insured age at Inception Premium Payment Term
5 years 8 years 10 years 12 years
Age up to 50 years 30% 60% 82.5% 105%
Age above to 50 years 20% 50% 70% 90%

You have the flexibility to accumulate the Annual Income with the policy, withdraw the Accrued Amount partially/fully anytime during the Policy Term or take the Annual Income immediately when it becomes due.

2. Income Booster

An Income Booster equal to 5% of the accrued amount is added to your policy at the end of each year during the policy term to grow your savings.

Accrued Amount is the accumulation of the Annual Income which you can choose to accumulate using the Income Booster of 5% p.a. (less withdrawals, if any).

3. Loyalty Addition

You get Loyalty Addition, as a percentage of accrued amount at the end of the policy term.

Loyalty Addition is defined as percentage of Accrued Amount under your policy at the end of Policy Term, as mentioned below:

Loyalty Additions (as % of Accrued Amount) Annualized Premium Premium Payment Term
5 years 8 years 10 years 12 years
< 3 lakh p.a. 5% 15% 25% 25%
=> 3 lakh p.a. 6% 17% 27% 27%

4. Enhanced Return of Premiums (ERoP):

At the end of the Policy Term, the Total Premiums Paid by you is payable along with the Accrued Amount and Loyalty Addition, if any. This amount is further enhanced by 10% if all due premiums under your policy have been paid.

The Maturity Benefit shall be the combination of Accrued Amount, Loyalty Additions & Enhanced Return of Premium benefit payable at the end of the Policy Term.

In case of the life insured's unfortunate demise during the policy period, the death benefit will be paid to the nominee in either of the following ways:

  • Sum Assured on Death; plus
  • Accrued Amount if any under the policy

where Sum Assured on Death is defined as higher of the following:
a) 10 times of Annualized Premium
b) 150% of Total Premiums paid till the date of death
c) Sum Assured

Option to receive Staggered Death Benefit:

The Nominee will have an option to receive the amount of Death Benefit in Annual/ Monthly instalments instead of a lump-sum, over a period of 10 years as per the percentages given below:

Instalments Frequency Annual Monthly
Instalment (as % of Death Benefit) 12.18% 1.035%
Total payments (as % of Death Benefit) 121.18% 124.2%

For more details on the death benefit, please refer the product brochure

You can enhance your insurance cover during the policy term by adding the following riders for a nominal extra cost.

ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)
ABSLI Surgical Care Rider (UIN: 109B015V03)
ABSLI Waiver of Premium Rider (UIN:109B017V03)
ABSLI Critical Illness Rider (UIN: 109B019V03)
ABSLI Hospital Care Rider (UIN: 109B016V03)

Type of Plan A Non-Linked Non-Participating Individual Life Insurance Savings Plan
Coverage All Individuals (Male | Female | Transgender)
Age of the Life Insured at Entry a(age as on last birthday) Minimum 4 years for Policy Term 26 years
6 years for Policy Term 22 years
8 years for Policy Term 20 years
11 years for Policy Term 17 years
Maximum 60 years
Maturity Age of the Life Insured (age as on last birthday) Minimum 18 years
Maximum 86 years
Premium Paying Term (PPT) 5 years / 8 years / 10 years / 12 years
Deferred Period 2 years after completion of the Premium Payment Term
Policy Term (PT) For 5 years PPT - 17 years Policy Term
For 8 years PPT - 20 years Policy Term
For 10 years PPT - 22 years Policy Term
For 12 years PPT - 26 years Policy Term
Premium Payment Modes and Modal Loading
Annual | Semi-Annual | Quarterly | Monthly
Mode Annual Semi-Annual Quarterly Monthly
Modal Loading 0.0% 1.0% 1.5% 3.5%
 
Minimum Annualized Premium
Rs.50,000 p.a
 
Maximum Annualized Premium
No Limit (subject to Board Approved Underwriting Policy)
 
Minimum Sum Assured
Rs.5,50,000
 

Scenario : Mr. Sharma, aged 35 years, invests Rs.1,00,000 p.a. in ABSLI Assured FlexiSavings Plan. He opts for 12 years Premium Payment Term & 26 years Policy Term.

Please click here to Download product brochure
Please click here to download policy contract
Please click here to download product presentation
Disclaimer

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked non-participating individual life insurance savings plan. All terms & conditions are guaranteed throughout the policy term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc. For policies issued on minor life, the date of commencement of risk shall be the date of commencement of the policy. Where a policy is issued on a minor life, the policy will vest After attainment of majority of the Life Insured. This product shall also be available for sales through online channel. Tax benefits are 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 sales. For more details and clarification call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true. Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Registered Office: One Indiabulls Centre,Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. 1-800-270-7000 www.adityabirlasunlifeinsurance.com IRDAI Reg No.109 CIN: U99999MH2000PLC128110 ADV/8/20-21/733 VER2/AUG/2020

UIN: 109N126V02