In ULIP policy, investment risk in the investment portfolio is borne by the policyholder
In this policy, investment risk in the investment portfolio is borne by the policyholder.
What is the ABSLI Wealth Assure Plus about?
ABSLI Wealth Assure Plus is a unit linked insurance plan which provides you with an opportunity of long-term wealth creation while protecting it against death, disease and disability.
What are the key features of the ABSLI Wealth Assure Plus?
- Long term wealth creation against death, critical illness and disability
- Benefits of MNC fund for the first time in your ULIP portfolio
- No premium allocation or policy administration charges after 10th policy anniversary
- Flexibility to choose between Classic and Assured plan options
- Flexibility to choose between 4 investment options to suit your investment preferences
- Flexibility to add top-ups whenever you have additional savings
- Flexibility of partial withdrawals to meet any emergency fund requirements.
- Avail tax benefits u/s 80C & 10(10D). Tax benefits are subject to changes in tax laws
What are the choices available with ABSLI Wealth Assure Plus offer?
Choose between the 2 plan options at inception. The benefit to be paid to the nominee/policyholder in case of unfortunate death of life insured during the policy term
- Classic Option – Sum Assured plus Policy Fund Value.
- Assured Option – Sum Assured plus Policy Fund Value. Additionally on the occurrence of any Critical Illness or Total Permanent Disability the policy will continue till maturity and all the future installment premiums shall be paid by us on the premium due dates in the fund value.
You have a choice to invest your money in one of the 4 investment options.
This option allows us to manage and administer your investment portfolio on your behalf and according to your risk profile.
Systematic Transfer Option
This option helps mitigate any risk arising from market volatility and averages out the risks associated with the equity market.
Return Optimiser Option
This option enables you to take advantage of the equity market, protect your gains from the future market volatility and create a more stable sequencing of investment returns.
You decide how to invest your money amongst our 16 segregated funds.
Liquid Plus (ULIF02807/10/11BSLLIQPLUS109)
Capped Nifty Index (ULIF03530/10/14BSLICNFIDX109)
Value & Momentum (ULIF02907/10/11BSLIVALUEM109)
Income Advantage (ULIF01507/08/08BSLIINCADV109)
Pure Equity (ULIF02707/10/11BSLIPUREEQ109)
Asset Allocation (ULIF03430/10/14BSLIASTALC109)
Super 20 (ULIF01723/06/09BSLSUPER20109)
What benefits does the ABSLI Wealth Assure Plus offer?
in the form of additional units will be added to your policy:
|Guaranteed Additions as % of Basic Premium|
|Policy Term||At the end of the Policy Year|
For Band 2, the Guaranteed Additions will be enhanced by 10% of Basic Premium on policy maturity.
Upon the unfortunate death of the life insured during the policy term, we shall pay to the nominee
- Basic Sum Assured; plus
- Basic Fund Value as on the date of intimation of death.
- Top-up Sum Assured; plus
- Top-up Fund Value as on the date of intimation of death.
For definition on sum assured, please refer product brochure.
Waiver of premium on Critical Illness or Total and Permanent Disability (TPD)
In case of the life insured suffering from any of the specified Critical illnesses or Total and Permanent Disability during the policy term all future premiums, if any, shall be paid by the Company. This benefit is only applicable if you have chosen Assured Option.
You will receive the Basic Fund Value plus the Top-up fund Value as of that date at maturity.
In case of emergencies, you can surrender your policy to us anytime during the policy term. Any such surrender will be treated according to the complete withdrawal as mentioned in Policy Discontinuance section.
For more details on settlement option, please refer product brochure.
What are the policy charges in this plan?
The charges under this plan are Premium Allocation Charge, Fund Management Charge, Policy Administration Charge, Mortality Charge, Waiver of Premium (CI/TPD) Charge and Miscellaneous Charges.
Goods and Services Tax (GST)
GST, as applicable, will be extra and levied as per the extant tax laws.
For more details on these charges, please refer to the product brochure.
What is the criteria to apply for a ABSLI Wealth Assure Plus?
Here’s the eligibility criterion:
|Classic Option||Assured Option|
|Entry Age (age last birthday)||30 days* to 55 years||18 to 50 years|
|Maturity Age||18 to 75 years||33 to 65 years|
|Policy Term^||15 | 20 | 25| 30 | 35 years|
|Premium Paying Term||For Policy Term 15 years : 10 | 15 Pay
For Policy Term 20 | 25| 30 | 35 years : 10 | 15 | 20 Pay
|Basic premium||Minimum Rs.24,000 p.a.|
|Basic Sum Assured||Minimum Rs.2,40,000 p.a.|
|Top-up Premium||Minimum Rs.5,000|
|Pay Mode||Annual, Semi-Annual, Quarterly, Monthly|
*Risk commences from the first policy anniversary
^Policy term of 15 years is not available to entry ages below 3 years
How does the plan work
ABSLI Wealth Assure Plus
|Entry Age||26 years||Annual Premium (in Rs.)||96,000|
|Gender||Male||Premium Paying Term||15 years|
|Policy Term||15 years||Pay Frequency||Monthly|
|Sum Assured||INR 12,00,000||Plan Type||Classic|
|Policy Year||Annualized Premium||Policy Value at 4% Gross Yield||Policy Value at 8% Gross Yield|
|Fund Value||Surrender Benefit||Death Benefit||Fund Value||Surrender Benefit||Death Benefit|
The above values are illustrative and for a healthy male. The assumed rates of return 4% and 8% are not guaranteed and they are not the upper or lower limits of what one might get back as the value of the policy is dependent on a number of factors including future investment performance.
How does one apply for ABSLI Wealth Assure Plus?
- STEP 1:Choose Plan option
- STEP 2: Choose Basic Premium and Policy Term
- STEP 3: Choose Pay Mode
- STEP 4: Choose Basic Sum Assured
- STEP 5: Choose Investment Option
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating unit linked life insurance plan. Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year. Aditya Birla Sun Life Insurance and ABSLI Wealth Assure Plus are only the names of the Company and Policy respectively and do not in any way indicate their quality, future prospects or returns. The names of the funds offered in this plan do not in any way indicate their quality, future prospects or returns. The charges are guaranteed throughout the term of the policy unless specifically mentioned and subject to IRDAI approval. The value of the Investment Fund reflects the value of the underlying investments. These investments are subject to market risks and change in fundamentals such as tax rates etc affecting the investment portfolio. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of investment fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. There is no guarantee or assurance of returns from the investment funds. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
Aditya Birla Sun Life Insurance Company Limited, Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company.
One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013.
Registration No. 109
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