Aditya Birla Sun Life Insurance Company Limited

What is a unit-linked insurance plan?

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    Some years ago, insurance was all about creating a 'safety net' for loved ones that provides financial assistance in case of uncertain events. While the core objective of insurance plans still remains the same, many plans have evolved to provide a solution that combines insurance with investment. An example of such plans is Unit Linked Insurance Plans,or ULIPs, as they are popularly known.

    Delving a little deeper

    ULIP, in simple terms, is a plan that combines two components: insurance and investment. When you invest in a ULIP, part of your premium goes towards providing life cover, and the remaining amount is invested in market linked investment options like mutual funds.

    ULIPs also allow you to choose the type of funds your money will be invested in. The amount of returns you will get depends on the performance of the fund you have selected. Moreover, most ULIPs allow you to switch funds from time to time, according to your needs.

    You can choose to pay the premium in a single lump sum amount, or break it up into smaller parts and pay annually, half-yearly, quarterly or monthly premiums, based on your convenience.

    Why invest in ULIPs?

    • It combines insurance and investment in one single product
    • You can change your investment component according to your life stage by switching from one fund to another
    • ULIP investments of up to Rs 1,00,000 are deductable from your taxable income under Section 80(C) of the Income Tax Act, 1961
    • You can use ULIPs for long-term financial planning and meet major expenses like marriage, child's education, retirement, etc. with ease

    If you are looking for one single solution that can meet your long term and short term needs, ULIPs are an excellent option.

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    ABSLI Salaried Term Plan

    Exclusively For Salaried Individuals

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    4 Plan Options

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    Life Cover upto 70 years

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    Optional Accelerated Critical Illness benefit

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    Premium:
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    ABSLI Salaried Term Plan (UIN:109N141V02) is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 2 (Life Cover with ROP) this product shall be a non-linked non-participating individual savings life insurance plan.
    *LI Age 21, Male, Non Smoker, Option 1: Life Cover, PPT: Regular Pay, SA: ₹ 1 Cr., PT: 10 years, Annual Premium: ₹ 6100/- ( which is ₹ 508.33/month) Premium exclusive of GST. On death, 1 Cr SA is paid and the policy terminates.

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