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ABSLI Guaranteed Milestone Plan
A non-linked non – participating life insurance plan

Nothing is more important that your family's happiness. You work hard to earn and strive to fulfil everything your loved ones wish for. In today's unpredictable times, having your family's future and dreams secured is very essential. Presenting the Aditya Birla Sun Life Insurance Guaranteed Milestone Plan that recognises the value of family's happiness. Now, protection for your family is guaranteed, even in your absence.

Key features

  • Fully guaranteed benefits on death or maturity.
  • Guaranteed Additions that boost your corpus year on year.
  • Flexibility to cover your spouse also by choosing Joint Life Protection.
  • Flexibility to choose the policy term.
  • Flexibility to enhance your insurance cover with appropriate rider options..

For Single Life

In case of the unfortunate demise of the life insured during the policy term, the Sum Assured on Death(1) will be paid to the nominee in 10 equal annual instalments.

On acceptance of the death claim we shall pay immediately the first annual instalments along with the excess amount, if any, of Maturity Sum Assured plus accrued Guaranteed Additions over the Sum Assured.

In case the nominee would like to get a lumpsum payment instead of the annual instalments, we will pay the discounted value of the outstanding annual instalments as a lumpsum.

In case where the death of the Life Insured takes place prior to risk commencement date, only the premiums paid to date (excluding applicable taxes) shall be payable as the Death Benefit.

(1)For more details regarding this benefit, refer to the brochure.

For Joint Life

Under this option, two lives i.e. you (primary life insured) and your spouse (secondary life insured) are covered under the same policy and also jointly own the policy. The sum assured applicable for your spouse shall be equal to 20% of your applicable sum assured. You can opt for this option at the inception of the policy subject to the attained age of primary life insured & secondary life insured is less than or equal to 50 years. No rider can be opted under this option and this option cannot be discontinued except due to the unfortunate demise of either of the lives who are insured.

Unfortunate death of the primary life insured prior to the secondary life insured:

  • Death benefit shall be paid in annual instalments to the spouse (secondary life insured) and the same can be opted as lumpsum payment as explained above
  • Secondary life insured will become the sole policyholder and receive the maturity benefit
  • Life cover for the secondary life insured will continue without any future premiums to be paid
  • On subsequent death of the secondary life insured during the policy term the applicable death benefit shall be paid to the nominee as a lump sum. On maturity date the maturity benefit shall be paid to the nominee.

Unfortunate death of the secondary life insured prior to the primary life insured

  • Applicable death benefit shall be paid immediately to the primary life insured as a lump sum
  • Primary life insured will become the sole policyholder. Policy will continue with all benefits (including the insurance cover on primary life insured) with premiums to be paid when due. Maturity benefit shall be paid to the primary life insured on maturity date
  • On subsequent death of the primary life insured during the policy term, the applicable death benefit shall be paid to the nominee in annual instalments and the same can be opted as lumpsum payment as explained above. On maturity date, the maturity benefit shall be paid to the nominee

    Unfortunate death of both the primary and secondary life insured together
  • Applicable death benefit for the respective lives insured shall be paid to the nominee – annual instalments for the death benefit of primary life insured and lumpsum for the death benefit of secondary life insured respectively
  • Policy will continue without any future premiums to be paid and on maturity date the maturity benefit shall be paid to the nominee

Unfortunate death of both the primary and secondary life insured together

  • Applicable death benefit for the respective lives insured shall be paid to the nominee - annual installments for the death benefit of primary life insured and lump sum for the death benefit of secondary life insured respectively
  • Policy will continue without any future premiums to be paid and on maturity date the maturity benefit shall be paid to the nominee

 

In the event the life insured survives to the end of the policy term, we shall pay to you

  • Maturity Sum Assured(1) ; plus
  • Accrued Guaranteed Additions

(1) Maturity Sum Assured is the sum of all the premiums payable (excluding loadings for modal premiums, applicable taxes, any applicable rider premiums and underwriting extras, if any) paid by you.

Guaranteed Additions will accrue on monthly basis to the policy on each policy month till maturity provided all due premiums have been paid and shall be payable in event of death of life insured or policy maturity whichever is earlier. Guaranteed Additions per annum shall be determined based on the premium amount you commit to pay, premium band, sum assured, the entry Age of the life insured, Joint Life Protection option and policy term chosen. In case of Joint Life Protection option, the Guaranteed Additions shall accrue on the sum assured applicable for the primary life insured and shall be payable on policy maturity. Please ask your financial advisor for an illustration of the Guaranteed Additions applicable to your policy or refer to your policy contract for further details.

For added protection, you can enhance your insurance coverage during the policy term by adding riders for a nominal extra cost.

Please refer to detailed product brochure and rider brochures, consult your financial advisor or visit our website for further details.

For more details on the above mentioned benefits, please refer to the product brochure.

EntryAge (age last birthday) 30 days* - 60 years
Policy Term 12, 14, 16, 18, 20, 22, 24 & 26 years
Premium Paying Term 6 years for policy term of 12/14
8 years for policy term of 16/18
10 years for policy term of 20/22
12 years for policy term of 24/26
Minimum Maturity Age 18 years
Minimum Premium Rs.15,000
Sum Assured 15 X Annual Premium
Minimum Sum Assured Rs.2,25,000
Minimum Maturity Sum Assured Rs.90,000
Premium Mode Annual, Semi Annual, Quarterly and Monthly

*Risk commences from the first policy anniversary

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



This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating traditional insurance 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. The insurance cover for the life insured (including minors) will commence on the policy issue date. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the. For further details please refer to the policy contract. Tax benefits are subject to changes in the tax laws. 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 - 400013. IRDAI reg no.109 CIN: U99999MH2000PLC128110 ADV/10/18-19/3438 VER1/OCT/2018

UIN: 109N106V02