ABSLI Assured Savings Plan

ABSLI Guaranteed Milestone Plan

Protecting your Life Goals Now Comes With A Guarantee
Protecting your Life Goals Now Comes With A Guarantee
Guaranteed Benefits Guaranteed# Additions that boost your corpus
Tax Benefits Option to cover your spouse in the same policy

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Give ₹15,000/year for 6 years
Get ₹1,23,696 as maturity benefit1
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Why buy ABSLI Guaranteed Milestone Plan?

Aditya Birla Sun Life Insurance Guaranteed Milestone Plan provides life cover with fully guaranteed# financial benefits on death or maturity and helps you plan for your non-negotiable life goals.

Key Features
  • iconbullet Guaranteed Benefits: Fully guaranteed# benefits on death or maturity.
  • iconbullet Guaranteed Additions: Guaranteed# Additions that boosts your corpus year on year.
  • iconbullet Joint Life Cover Option: Flexibility to cover your spouse also by choosing Joint Life Protection by paying an additional premium.
  • iconbullet Rider Options: Flexibility to enhance your insurance cover with appropriate rider2 options by paying an additional premium.

Benefits of ABSLI Guaranteed Milestone Plan

ABSLI Guaranteed Milestone Plan Provides You With Guaranteed# Additions To Boost Your Corpus

Death Benefit
Death Benefit
For Single life
In case of the unfortunate demise of the life insured during the policy term, the Sum Assured on Death will be paid to the nominee in 10 equal annual installments.
Sum Assured on Death will be highest of:
  • Sum Assured as an absolute amount to be paid on death; or
  • 105% of the Total Premiums Paid up to the date of death; or
  • 10 times of the Annualized Premium

“Total Premiums Paid” means total of all the premiums received, excluding any extra premium, any rider premium and taxes.
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.
For more details, refer to the product brochure.

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

  • Sum Assured on maturity ; plus
  • Accrued Guaranteed Additions

Sum Assured on maturity is the amount which is guaranteed to become payable on maturity of the policy, in accordance with the terms and conditions of the policy and is equal to total premiums payable under the policy, excluding any extra premium, any rider premium and taxes.

Guaranteed Additions
Guaranteed Additions
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.
Savings Plan
Reduced Paid-Up Benefits
If you discontinue paying premiums after having paid premiums for at least two full years, your policy will not lapse but continue on a Reduced Paid-Up basis. Under Reduced Paid-Up, Sum Assured, Sum Assured on Death, on maturity shall be reduced in proportion to the premiums actually paid to the total premiums payable during the policy term. For more details, refer to the product brochure.

ABSLI Guaranteed Milestone Plan With Riders

Entry Age (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 Annualized Premium

Minimum Sum Assured

Rs. 2,25,000

Minimum Sum Assured on maturity

Rs. 90,000

Premium Mode

Annual, Semi Annual, Quarterly and Monthly

* risk commences from the first policy anniversary

How does ABSLI Guaranteed Milestone Plan Work?

Entry Age

35 years

 

 

 

Annualized Premium*

Rs. 50,000

 

Gender

Male

 

 

 

Premium Paying Term

10 years

 

Policy Term

20 years

 

 

 

Payment Frequency

Annual

 

Sum Assured

Rs. 7,50,000

 

 

 

 

 

 

Policy

Annualized

Annualized Premiums

Cumulative

Guaranteed

Year End

Premium*

Paid to Date

Guaranteed Additions

Death Benefit

Maturity Benefit

1

50,000

50,000

31,200

750,000

-

2

50,000

1,00,000

62,400

750,000

-

3

50,000

1,50,000

93,600

750,000

-

4

50,000

2,00,000

124,800

750,000

-

5

50,000

2,50,000

156,000

750,000

-

6

50,000

3,00,000

187,200

750,000

-

7

50,000

3,50,000

218,400

750,000

-

8

50,000

4,00,000

249,600

750,000

-

9

50,000

4,50,000

280,800

780,800

-

10

50,000

5,00,000

312,000

812,000

-

11

-

-

343,200

843,200

-

12

-

-

374,400

874,400

-

13

-

-

405,600

905,600

-

14

-

-

436,800

936,800

-

15

-

-

468,000

968,000

-

16

-

-

499,200

999,200

-

17

-

-

530,400

1,030,400

-

18

-

-

561,600

1,061,600

-

19

-

-

592,800

1,092,800

-

20

-

-

624,000

1,124,000

1,124,000


*The premium excludes underwriting extra premium, frequency loadings on premiums, the premiums paid towards the riders, if any and Goods & Service Tax (if any).
This is not a benefit illustration. Please visit our website or ask your financial advisor for the complete benefit illustration for your policy.

Suicide Exclusion

If the Life Insured dies by suicide within 12 months of the effective date of risk commencement or the date of revival of Policy, the Policy shall terminate immediately. In such cases, the Company shall pay higher of Surrender Value or (total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes) in case the Policy has acquired a surrender value; or Total Premiums Paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes in case the Policy has not acquired a surrender value.

For Joint Life Protection, the suicide exclusion described above applies in the event of earlier death of either the Primary Life Insured or the Secondary Life Insured and the policy is terminated.

How to initiate Claim?

3 quick steps, everything online.

  • Fill basic details
  • Claim intimation
  • Document submission

Frequently Asked Questions

Know more about ABSLI Guaranteed Milestone Plan in detail here:

Below are some of the important features of this plan:
  • Fully guaranteed# benefits on death or maturity
  • Sum Assured is 15X of the Annualized Premium
  • Guaranteed# Additions that boost your corpus year on year
  • Cover your spouse by choosing Joint Life Protection by paying an additional premium
  • Enhance your insurance cover with appropriate rider options by paying an additional premium
  • Tax Benefits3 under Section 80C, 80D & Section 10(10D)** of the Income Tax Act, 1961
Any person under 60 years of age, interested in building a corpus for the non-negotiable goals of life should buy the ABSLI Guaranteed Milestone Plan.
You may be entitled to certain applicable tax benefits on the premiums paid and benefits received under Your 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.
Below are the scenarios of death benefit under this policy:

For single life policies, 100% of the sum assured will be given out in 10 equal annual instalments as death benefit, in case life insured dies during the policy term.

For joint life policies, 20% of the primary life sum assured will be given out as death benefit, in case the secondary life insured dies during the policy term, while primary life insured is alive. In case the primary life insured dies while the secondary life insured is still alive, 100% sum assured will be paid in 10 equal annual instalments and all future premiums will be waived off.
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  • Disclaimer

    #Provided all premiums are paid
    ** Sec 10(10D) benefit is available subject to fulfilment of conditions specified therein
    1 Healthy male, age 21, premium payment term 6 years, premium of Rs.15000/- for 6 years, maturity benefit of Rs.1,23,696/- at the end of policy term of 12 years, a life cover of Rs.2.25 lakhs.
    2 For more details regarding this benefit, refer to the brochure.
    3 Tax laws are subject to changes in tax laws. You are advised to consult your tax advisor for the same.

    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 sub-standard lives, smokers or people having hazardous occupations etc. The insurance cover for the life insured (including minors) will commence on the policy issue date.
    UIN: 109N106V11
    ADV/7/23-24/1267