Can I buy endowment or moneyback policy for my child?

Yes, you can. In this case, you can buy the policy to fund the future education expenses of your child & plan a grand wedding for him/her. Also, your child (once major) would receive the pay-out in case of your death during the policy term.

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Aditya Birla Sun Life Insurance Company Limited

Savings Plan

Q: How to buy endowment or moneyback policy online?

To buy endowment or moneyback policy online, visit the website of your insurer, fill up the proposal form with all relevant details along with the required documents and pay online. The soft copy of the policy will be sent to your registered email id.

Q: Are there any tax benefits on endowment or moneyback plans?

Yes, there are tax benefits on endowment or moneyback plans. The premiums paid qualify for tax exemption under section 80C, while the maturity or death benefit pay-out qualify for tax exemption under section 10(10D) subject to changes in the tax laws.

Q: Which is the best endowment or moneyback plan that I can buy?

The best endowment or moneyback policy is one which helps you save in a disciplined manner to accumulate a corpus for essential life goals, along with providing an adequate financial cushion to your dependents in your absence. It should be flexible in terms of premium payment and pay-outs along with guaranteed additions. Explore our endowment or moneyback policies

Q: How does an endowment or moneyback plan work?

Working of an endowment or moneyback plan is simple. A part of the premium paid goes towards paying life cover while the other half is invested in safe avenues to generate returns.

A savings plan or an Endowment Plan is a life insurance product that enables you with disciplined savings. Buying a savings plan/ scheme helps you in attaining various life goals by building a risk-free sizable fund. A savings plan provides you an opportunity to save and build a fund to achieve your short-term and long-term financial goals. Plus, the insurance coverage under the savings plan protects the family financially in case the life insured passes away during the policy term.

View Our Savings Plans

Give ₹1.20 lakhs⁶ in 12 years and get Guaranteed² Benefits of ₹47.16 lakhs

Attractive Bonus

Guaranteed² Returns

Financial security for the family

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What is an Endowment Plan?

Savings plan is also known as an endowment plan. Typically this is a life insurance product that has dual benefits of life cover and savings. The life cover component of this policy provides financial protection to the family in case of an unfortunate event. The saving component helps you to save and create a corpus to meet your future financial goals. Generally, at the end of the policy period, a lump-sum is paid as maturity benefit. Some savings plans offer a steady income on a regular basis as the maturity proceeds.

Wondering How Savings Plan Works?

Find out with an example

Importance of Savings Plan

There are multiple reasons why a saving plan is important in anybody’s financial planning. It helps you to build a sizable fund with regular savings over years of time which can help achieve short-term and long financial goals comfortably. Also with the rising inflation, buying a savings plan can ensure a financially secure life. Let us now understand the importance of the savings plan in brief:

Future long-term goals:

Savings can assist in managing life goals. If you are a salaried employee, saving to build your house in the future will be a challenge. But with the savings plan, you can easily accumulate funds to support your long-term goals. With a savings plan you can also create a corpus to have a financially stable life after retirement.

Short-term life goal:

The insurance policy provides you the opportunity to save for short-term life goals. One of your short-term goals can be going on that long-awaited family trip to the Maldives. With a savings plan, it becomes possible to build the financial capacity to fulfill your short-term goals.

Peace of mind:

The savings plan pays the nominee a sum assured in case of the unfortunate demise of the life insured during the policy period. This brings a lot of peace to your mind as you know that “my family will be financially supported even if I am not there to provide for their needs.

Zero Risk with guaranteed² returns:

Savings plans hold importance for individuals with low-risk appetites. The plan offers a risk-free investment that comes with the life cover.

Broader entry age:

Endowment plans offer a broader entry age. So it is never too late or never too early to save for your future goals. Regardless of your age, investing in a savings plan today is the best thing to do.

Disciplined savings:

Once you buy a savings plan, it will require you to pay the premium regularly. This habit of disciplined saving ensures that at every payment interval you set aside a fixed amount of money for your future goals.

Policy Loan facility:

The savings or an endowment plan allows the policyholder to take loan against the savings policy when in need. The policy gains the cash value after you have paid the premium for a certain number of years mentioned in the policy. Such a loan with a savings plan does not usually require collateral.

High Liquidity:

Savings policies are liquid in nature that allow withdrawals after a few years as mentioned in the policy. The funds can be withdrawn if you need money right away under an emergency.

Benefits of Savings Plan

With an endowment policy, you can generate the required corpus to achieve your goals. When responsibilities in life are more, it is important that you own a savings policy for a secured future

Dual Benefit:

An endowment or savings plan is an investment cum insurance policy. The savings plan provides financial protection to the nominee if the individual life insured passes away during the policy period. Plus, it pays a lump sum return on maturity if the policyholder survives the policy period.

Risk-free Returns:

The savings plan is considered a low-risk investment plan and the returns are guaranteed². For example, you are a 30 years old healthy male and choose to purchase ABSLI Assured Savings Plan. The plan pays you maturity benefit and allows you to choose the years of investment. For every year, a premium payment of Rs.50,000³ is to be made. The policy sum assured Rs.6,50,000 and you get Rs.4.96 lakhs.

Regular Bonus:

The savings plan provides an bonus as the percentage of the sum assured. If the policyholder survives, the additional bonus that is earned during the policy is paid in addition to the sum assured. ABSLI may share a part of its profit with you by adding bonuses to your policy. This will boost the final pay-out and you can achieve your financial objectives faster.

Retirement Savings:

You can use savings plans to create the fund for your retirement. You just need to invest a sum at regular intervals for a long period of time. This will enable you to accumulate a sizable fund by the time you reach your retirement age. This way you can have a stress-free and independent retired life.

Tax Benefits:

The premiums paid under the savings plan in a year are eligible for tax deduction⁴ under Section 80C of Income Tax Act, 1961. Apart from this, the maturity benefit received is tax-exempt under Section 10(10D).

Rider Benefits:

ABSLI provides life insured an option to choose riders that comes at a nominal additional cost. The covers provide an option to enhance the scope of coverage. Some of the riders that can be opted include Accidental death benefit rider (UIN 109B023V02), Accidental death and disability rider (UIN 109B018V03), Critical Illness Rider (UIN 109B019V03), ABSLI Hospital Care Rider (UIN 109B019V03), ABSLI Surgical Care Rider (UIN:109B015V03), and ABSLI Waiver of Premium Rider (UIN:109B017V02). There are exclusions attached to the riders. Please refer rider brochure for more details

Our Savings Plans

ABSLI Assured Savings Plan

Life insurance cover with guaranteed² benefits

Receive Loyalty Additions

Guaranteed² returns

Comprehensive life cover

Cover spouse in same policy

Get:

₹4.75 lakhs⁵

Give for 6 years:

₹5,000/month⁵

Buy Online

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ABSLI Assured Income Plus

Short term investment with long term guaranteed² returns.

Income Benefits

Loyalty Additions

Long-term regular income

RoP option

Guaranteed² benefits:

₹47.16 lakhs

Give in 12 yrs:

₹1.20 lakhs/yr⁶

Buy Online

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ABSLI Vision LifeIncome Plus Plan

Comprehensive life cover plus guaranteed² regular income

Whole life cover up to age 100

Guaranteed² regular income

Cash-in-hand option

Bonus Payouts

Get:

₹7.91 lakhs

Give for 8 yrs:

₹50,000¹²

Get Quote

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ABSLI SecurePlus Plan

Secure your life with a second income

Guaranteed² Income

Loyalty Additions

Second Income

Maturity Benefit

Get Benefit of:

₹3.93 lakhs

Give:

₹50,000⁷ for 6 years

Get Quote

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ABSLI Vision LifeIncome Plan

Savings plan with whole life income

Minimum entry age 30 days

Income after retirement

Whole life cover

Lump-sum payout

Get:

₹87.04 lakhs

Give for 8 years:

₹1.62 lakhs⁹

Get Quote

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ABSLI Vision Endowment Plus Plan

Secured savings and financial protection for family

Life Cover

Sum assured on maturity¹⁷

Tax Benefit⁴

Accrued Regular Bonus

Get:

₹3.07 lakhs

Give:

₹31,502 for 7 years

Get Quote

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ABSLI Assured FlexiSavings Plan

Guaranteed² returns plus flexible withdrawals.

Assured Savings

5% Income Booster

Loyalty Additions

Additional benefit on total premium

Get:

₹4.88 lakhs

Give:

₹50,000¹⁰ for 5 years

Get Quote

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ABSLI Income Assured Plan

Guaranteed² Returns to fulfil future dreams

Receive monthly payouts

Guaranteed² Additions

Tax Benefit²

Short premium paying term

Get:

₹8,50,000

Give:

₹1,49,604/yr¹⁵

Get Quote

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ABSLI Jeevan Bachat Plan

Guaranteed² returns and Life cover worth 10 times of annual premium

Guaranteed² benefit on maturity/death

Guaranteed² additions till maturity

Accidental death benefit

No medical test

Get:

₹26,120

Give Premium:

₹20,900¹⁸ for 1 year

Buy Now

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ABSLI Monthly Income Plan

Monthly income benefit for independent retired life

Financial protection

Income for recurring needs

Accidental death benefit

Bonus to boost savings

Get:

₹7.20 lakhs

Give:

₹6,31,500¹⁹

Get Quote

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ABSLI Savings Plan

Financial Protection and Secured Growth

Guaranteed² Additions

Regular Bonus

Flexible-Premium Paying Term

Flexibility to Choose Policy Terms

Maturity Benefit:

₹6 lakhs

Give:

₹61,341/year¹³

Get Quote

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ABSLI Vision LifeSecure Plan

Comprehensive life protection with long-term financial security

Minimum entry age 30 days

Life cover up to age 100

Regular bonus

Enhanced Savings

Get:

₹6,12,314

Give:

₹2,59,808¹⁴

Get Quote

Know More

ABSLI Vision MoneyBack Plus Plan

Life Protection with regular income

Guaranteed² survival benefit

Regular income

Enhanced Savings

Customized pay-outs

Total benefits:

₹19 lacs

Give:

₹10.47 lacs¹¹

Get Quote

Know More

ABSLI Guaranteed Milestone Plan

Life cover and fully Guaranteed² lump sum benefits

Life cover

Guaranteed² additions

Assured sum

Cover your spouse

Maturity Benefit:

₹1,23,696

Give:

₹15,000⁸ for 6 yrs

Buy Now

Know More

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Why buy a savings plan from ABSLI?

A savings plan provides you an opportunity to save money for your long term or short term goals. The policy provides life cover under which the nominee gets the sum assured along with the accumulated bonus, if any. You should consider investing in savings plan of ABSLI for following reasons:

Various Plans:

ABSLI provides 14 types of savings plan each with its unique benefit. Our products offer guaranteed² returns, guaranteed² regular income, whole life cover among other benefits. Evaluating the requirements and the conditions, individuals can pick the type of plan they want. If you want to buy a savings plan online, we have insurance products like ABSLI Assured Income Plus Plan, ABSLI Secure Plus Plan, Assured Savings Plan, etc.

Bonuses:

ABSLI declares reversionary bonus and terminal bonus at the end of each financial year. Reversionary bonus is the bonus which the insurance company declares as the percentage of the guaranteed maturity benefit (GMB)²⁵ or sum assured²⁶. It is declared at the end of each financial year and is payable at maturity, death or surrender. The bonus rate may vary every year. The insurer will also pay a terminal bonus based on experience and economic conditions. Terminal bonus, also called the final bonus, is declared and added when the policy gets matured. The bonus often applies to endowment policies which reach maturity.

High Claim Settlement Ratio:

Buying a savings insurance from Aditya Birla Sun Life Insurance is safe as we have registered a high claim ratio for FY20-21. Our claim settlement ratio is 98.04%²⁰ which increases our credibility in the market. As responsible insurers, our aim is to provide you with fast and hassle-free services.

Easy online claims:

ABSLI tries to make life simpler through easy online claim filing and policy buying processes. Policyholders can now conveniently buy the plan of their choice. They can file their claims both online and at the branch office. After receiving all claim documents/ requirements, the average claim settlement time is 3.5 days²¹ for individual business.

High Returns:

Buy a savings plan like ABSLI Assured Savings Plan and you can get high returns. Invest Rs.3 lakhs³ in 6 years and get a guaranteed² return of Rs.4.96 lakhs after 12 years.

Wide network of services:

We have 363 offices across India. The wide network of offices help us to provide fast services. You can meet us in our offices or call us at 1800 270 7000 for any assistance.

Features of Savings Plan

Savings plan is an insurance policy that provides guaranteed² benefits to achieve financial goals. The features of savings plan include:

Financial protection:

A savings plan comes with the life cover and provides financial security to the dependents in the family after the unfortunate demise of the policyholder.

Maturity Benefit:

The savings plan guarantees maturity benefits and pays variable bonuses and additions along with. The maturity benefit depends upon the plan you choose. It improves the size of the maturity corpus.

Steady Returns:

Savings plans are low-risk plans that provide steady and safe returns. The plan assures you of some returns which implies that you will receive the amount committed at the inception of the policy.

Flexible premium payment:

The savings plan allows the policyholder to choose their premium payment frequency as per their convenience. The payments can be made monthly, quarterly, half-yearly, and annually.

Cover your spouse:

Savings plan provides an option to get joint-life protection.

Income Benefit Options:

Income Only Benefit or Income Benefit with Return of Premium Option- Life insured can select the benefit at the inception of specific policy.

Who should buy a Savings Plan?

A savings plan helps you to achieve different goals in life. Savings plan is a great investment option to fulfil your future goals and support loved ones to achieve their dreams.

Individuals planning for retirement:

Individuals who have started working and want to plan for a safe retirement must buy a savings plan. It is an ideal insurance policy to invest in because it can help when the active income stops. For example, suppose you are 21 years and you choose ABSLI VisionLife Income Plus Plan to receive whole life income that will support your means after retirement also. You paid annual premium of Rs.50,000 for 8 years. The maturity of the policy will be after 64 years, that is, when you will be 85. The income benefit option chosen by you was whole life income. You give Rs.4 lakhs²³ and you might get Rs.68 lakhs at the end of maturity.

Small businessmen/Professionals:

Small business people and independent professionals with consistent income can buy savings plans. It helps them create financial security for the dependent in their family. Businesses might fail but the insurance plan will provide financial security to your family.

Individuals with short-term/long-term monetary goals:

Individuals with regular income streams and short-term goals like a vacation abroad, buying a car, etc., can buy a savings plan. People who make regular/ seasonal income such as freelancers, wedding photographers, etc; and aim for long-term financial goals like purchasing a house, saving for a child's higher education or a child's marriage can also invest in a savings plan.

Taxpayers:

Individuals looking for a tax rebate can buy a savings plan. The premium paid towards the insurance is eligible for tax deductions under Section 80C of the Income Tax Act, 1961. Other than the premium, the maturity amount can also be considered tax-exempt under Section 10(10D) of Income Tax. A total premium of up to Rs.1.5 lakhs is allowed for deductions.

How does a Savings Plan works?

Savings plan assists to save, invest and build funds for the future. The premium paid by the life insured has two functions. One part of the premium is used to build the saving corpus and the other part goes towards the life cover.

The policy provides a sum assured to the nominee if the insured passes away during the policy period. When the policyholder survives the entire policy period of the savings plan, she/he will get the maturity benefits along with guaranteed² additions and bonus(terminal or reversionary) on maturity.

The total amount received on maturity is the amount accumulated over the years along with bonuses, loyalty additions, and guaranteed² additions, if any. The lump-sum amount can be utilised to meet financial needs like funding children’s education, purchasing property, or plan retirement.

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What is covered in the Savings Plan?

Savings or endowment plan is known to provide you life cover as well as opportunity to invest. The policy covers you for:

Life Cover:

The savings insurance policy provides life cover to the policyholder In the case of an unfortunate event, the nominee gets the sum assured plus maturity benefit accrued over the years.

Maturity Benefit:

Under a savings plan the policyholder gets a maturity benefit that comprises variable bonuses. The benefit is paid when the policyholder survives the policy term and all the premiums are paid. If during this time, the policyholder passes away, the nominee will get the maturity amount accrued under the policy along with accumulated bonus.

Factors that affect savings plan premium

The premium for savings insurance is based on several factors. Primarily it depends upon the amount of return you are looking for

Plan Type:

The savings plan type and option that you choose affects the premium. For example, ABSLI Assured Savings is available from a premium Rs.5000/-²⁴ per month for a cover of Rs.73.58 lakhs.

Sum Assured:

The premium under the savings plan depends on the sum assured that the life insured chooses at the policy’s inception

Policy Term:

The premium will be in proportion to the policy term

Premium Payment Term:

The premium under the savings insurance policy is also affected by the premium payment term. If the benefit payout period is longer than the premium payment term, the premium will be more.

Age of the individual:

Starting early to save the premium can be cost-effective. The premium will be less when the age is less and vice versa.

Riders^:

Under endowment plans, the cover can be increased with available add-ons/ riders. A rider adds nominal cost to the premium but enhances the scope of coverage.

Savings Insurance riders

Riders are additional covers available at extra cost. These additional covers increase the scope of cover under the basic savings insurance. There are exclusions attached to the riders. Please refer rider brochure for more details

ABSLI Accidental Death and Disability Rider

UIN: 109B018V03

Get additional protection for accidents leading to death or disability at a nominal cost.

Download Brochure

ABSLI Accidental Death Benefit Rider Plus

UIN: 109B023V02

Get additional protection for accident leading to death at a nominal cost.

Download Brochure

ABSLI Critical Illness Rider

UIN: 109B019V03

Get benefit amount as a lump sum upon diagnosis of any of the 4 specified critical illnesses.

Download Brochure

ABSLI Hospital Care Rider

UIN: 109B016V03

Get daily cash benefit, additional ICU benefit and lump sum recuperating benefit upon hospitalization.

Download Brochure

ABSLI Surgical Care Rider

UIN: 109B015V03

Get a lump sum benefit amount to cover surgical expenses.

Download Brochure

ABSLI Waiver of Premium Rider

UIN: 109B017V02

All future premiums waived in case of permanent disability, death or 4 specified major illnesses.

Download Brochure

Tips to Choose a Savings Plan

Savings is the best way to make yourself wealthy in future. Note these tips when buying a savings plan:

Plan features:

Before buying the savings plan, you must check the plan features. A plan that offers a flexible premium payment option, free withdrawals, additional benefits will be most suitable

Online Availability:

Verify if the plan is available online or not. When the plan is available online you can review the returns on offer and check the nature of returns on your endowment plan. Returns can be guaranteed² (payable on the death and maturity) or non-guaranteed (that include bonuses variable and depend on the performance of the investment. You can also inquire about the amount of bonus you could get from the savings plan. The insurance companies disburse bonuses when they earn profits. If yes then buying online will be best as the premium will be less. Also, online policies save you time

The reputation of insurers:

Insurers of a high repute can indicate how efficiently they serve their customers. You can go for the one that has a good reputation and reviews.

Claim settlement ratio:

Know about the claim settlement ratio of the company. It denotes how fast and how many claims an insurer settles from the total claims received.

Premium Paying Capacity:

Choose a savings plan for which the premium is affordable. You can choose a premium amount and premium payment time carefully after considering the amount you can bear for how many years. Apart from choosing the payment term and premium, you can also select the flexibility for premium payments. The savings plan gives the flexibility to pay premium on annual, monthly, quarterly, or half-yearly basis. If you have irregular income levels, you can choose to pay an annual-one time premium. Those who make regular income can pay monthly premium.

Guaranteed² Returns:

Consider your goal of buying an insurance policy. If you do not want any risk on returns, look for guaranteed² returns

Life Goal:

Choose a savings plan based on the life goals, which can be vacation abroad, saving for retirement, buying an expensive car or a dream home.

Liquidity of the plan:

A savings plan that allows money withdrawals in an emergency will be the appropriate pick

Begin early with the savings plan:

You can start early when it is about the savings plan. Over the years, the power of compounding can give you a huge amount of savings.

Looking for Assistance?

Need help with your existing policy?
Call us on our toll-free no. for quick response!

1800 270 7000

Frequently Asked Questions

Find out more about savings insurance and explore how it will benefit you.

What is the amount of savings I need to make to build a house worth Rs.1 crore in the next 10 years?

To achieve your goal of building a house worth Rs.1 crore in the next 10 years, share your goal of savings with your life partner. The total current saving is Rs.10 lakhs and you save Rs.10,000 every month if the rate of return is 6%. With this scenario, you will have to save Rs.72,000 approximately for 10 years to build a house worth Rs.1.5 crore.

What are the different types of savings plans?

Different types of savings plans include these:

Participating: A participating savings plan allows you to share the profits of the insurance company. These profits are shared in the form of bonuses or dividends.
Non-Participating: Non-participating savings plan, profit and dividends are not shared with the policyholder.
Money-Back: In a money back savings plan, the life insured gets a percentage of sum assured at the regular intervals. This type of plan does not give lump sum payment at the end of the policy term.
Whole Life Plans:Whole life savings plan guarantees death benefit to the nominee if all the premiums are paid.

What are things to keep in mind before buying a Savings plan?

These are things to keep in mind before buying a savings plan:

Start early
Compare different plans
Make sure that the plan you choose matches your purpose of buying.
Look for flexibility in premium paying term and policy term
Review the returns whether they are guaranteed² or not.

How much money should you save using the savings or endowment plan?

The amount of savings will depend on the requirements or the financial goals of the life insured. It implies that the amount of savings is governed by short-term or long-term goals. For example, if you are planning to own a house (long-term goal), you must save more rigorously but for a car, you will have to save less and for a short duration. According to a common rule, you should aim to keep nearly 4-6 times your monthly salary. You can also use a wealth calculator to know the exact amount you will require for your goal. It keeps in account inflation also. Based on the computation, you can plan your savings for the coming years.

What is better: a short-term or a long-term savings plan?

Choosing the tenure of the savings plan will depend on the goals of saving. If you are saving to buy a car, you can buy a short-term savings plan. But if you are saving for your child’s education, you can plan for long-term savings. The latter goal is bigger and for that you will need more funds that is why long-term investment will suit.

What is the right time to buy an endowment plan or a money back plan?

There’s no fixed time to buy an endowment or moneyback plan. However, the sooner you buy, the better it is as it gives more time to your money to grow and helps you build a bigger corpus, enabling disciplined savings in the process

Can I buy an endowment or money back policy for my child?

Yes, you can buy an endowment or money back policy for your child. The money you save through policy can help you manage funds for your child’s education or marriage expenses. . Also, your child (once major) would receive the pay-out in case of your death during the policy term.

Can I surrender my endowment or moneyback plan before completion of the policy term?

Yes, you can. However, for your policy to acquire a surrender value, you need to have paid premiums of at least two years.

How to buy endowment or money back policy online

To buy an endowment or money back policy online, visit our website https://lifeinsurance.adityabirlacapital.com/endowment-plan. You can buy the plan online in easy steps. Click on the plan you want. Enter your details like name, age, and contact number. You can then select the amount of money to be invested, payment frequency, the number of years you want to invest money, and years to receive maturity. Check the premium against the sum assured. Pay the premium online and you will receive the policy.

Are there any tax benefits on endowment or money back plans?

Yes, there are tax benefits on endowment or money back plans. The premiums paid qualify for tax deduction under section 80C, while the maturity or death benefit pay-out qualify for tax exemption under section 10(10D) subject to changes in the tax laws.

Which is the best endowment or money back plan that I can buy?

The best endowment or money back policy is one which helps you save in a disciplined manner to build huge funds for essential life goals. It also provides good returns along with providing an adequate financial cushion to your dependents in your absence. Endowment plans should be flexible in terms of premium payment and pay-outs along with guaranteed2 additions. Explore our endowment or money back policies.

How does an endowment or money-back plan work?

Working on an endowment or moneyback plan is simple. A part of the premium paid goes towards paying life cover while the other half is invested in safe avenues to generate returns.

Is an endowment or money-back plan a good investment?

Definitely it is. It not only helps you to save in a disciplined manner for important life goals but also gives your family financial protection in your absence.

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Disclaimer

¹ ABSLI Vision Moneyback Plus Plan, age 21, healthy male, premium paying term 10 years, payment frequency annual, policy term 20 years, survival benefit option 4 years, annual premium Rs.99513 for 10 years (Rs.10.47 lakhs including GST), get Rs.19 lakhs benefit @8% return.
² Provided all premiums are paid
³ ABSLI Assured Savings Plan, pay annual premium Rs.50,000/- for 6 years, receive maturity benefit after 12 years, payment frequency annual, sum assured Rs.6,50,000/-, pay Rs.3 lakhs (Rs.50,000 X6) and you get Rs.4.96 lakhs
⁴ The tax rates are applicable as per the existing laws.
⁵ Healthy female age 21, investment for 6 years, maturity benefit after 12 years, payment frequency monthly, Sum Assured Rs.6.95 lakhs, monthly investment Rs.5000/-. You give Rs.3.60 lakhs and get Rs.4.75 lakhs.
⁶ Assured Income Plus Plan, Healthy male age 21 years, premium paying term 12 years, policy term 13 years, benefit payout period 20 years, payment frequency monthly, Assured Benefit Option: Income Only Benefit with Return of Premium, Sum Assured Rs.16.12 lakhs lakhs, Premium Rs.9999/- excluding GST), you get Rs.47.16 lakhs by age 54..
⁷ABSLI SecurePlus Plan, Premium of Rs.50,000 every year for 6 years, healthy male age 21 years. Premium Payment Term 6 years, Annual Premium Rs.50,000/-,policy term 6 years, Payment Frequency: Annually, Policy Option A,.Get Income Benefit of Rs.43,750/- +Loyalty Additions of Rs.21,875= Regular Income of Rs.65,625 p.a for 6 years..
⁸ ABSLI Guaranteed Milestone Plan, 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.
⁹ ABSLI Vision Life Income Plan, healthy male, age 21, Sum Assured Rs.10 lakhs. Annual Premium of Rs.1.62 lakhs approx for premium payment term: 8 years, policy term: 79 years, lump sum benefit of Rs.3.44 lakhs @8% or Rs.12000 @4% in 8th policy year,guaranteed regular income of Rs.50,000 plus bonus for life from 9th year.
¹⁰ABSLI Assured FlexiSavings Plan, healthy male, age 21 years, premium paying term 5 years, policy term 15 years, Annual Premium Rs.50,000 (Rs.2,50,000/-), Get Rs.2,75,000 as enhanced Return of premium on maturity, Get Rs.42,613 as loyalty additions, Income Booster 5%.
¹¹ABSLI Vision Moneyback Plus Plan, age 21, healthy male, premium paying term 10 years, payment frequency annual, policy term 20 years, survival benefit option 4 years, annual premium Rs.99513 for 10 years (Rs.10.47 lakhs including GST), get Rs.19 lakhs benefit @8% return.
¹²ABSLI Vision LifeIncome Plus Plan, age 21, healthy male, premium paying term 8 years, policy term 18 years, income benefit option=short term income, annual premium Rs.4lakhs (Rs.50,000X8), Guaranteed Income Benefit of Rs.4,84,270/- in monthly instalments, Lump Sum maturity payout Rs.3,06,747 with returns @8%
¹³ABSLI Savings Plan, age 21, healthy male, policy term:10 years, premium payment term: regular, Sum Assured Rs.5,00,000/-, Maturity Benefit Rs 6 lakhs, Cumulative Premium Rs.6.05 lakhs.
¹⁴ABSLI Vision LifeSecure Plan, age 21 years, healthy male, premium payment term:regular, policy term 16 years, total premium Rs.15751*16=Rs.2,52,016/-, guaranteed maturity payout Rs.2lakhs at the end of 16 years, Guaranteed Maturity Payout of Rs.2,64,614 if life insured survives till age 100 years.
¹⁵ABSLI Income Assured Plan, age 21, healthy male, policy term 15 years, premium payment term 5 years, sum assured Rs.5 lakhs, Premium payable every year Rs.1,49,604/-, Income benefit Rs.40,000/- maturity Benefit Rs.8,50,000/- and Death benefit Rs.1,825,900/-.
¹⁶ABSLI Vision Endowment Plus Plan, age 21 years, sum assured Rs.200000, premium paying term 7 years- annual, policy terms 10 years, Death benefit option:Option A, annual premium Rs.31,502/- for 7 years, Guaranteed total maturity benefit of Rs.2,20,514/- after 7 years for long term financial needs.
¹⁷Where sum assured on maturity is equal to total premiums paid
¹⁸ABSLI Jeevan Bachat Plan, age 20 years, premium payment term 1 year, policy term 10 years, sum assured Rs.2 lakhs, premium payable Rs.20,900/-, maturity benefit Rs.26,120/-, death benefit Rs.2,06,120/-.
¹⁹ABSLI Monthly Income Plan, age 21, healthy male, premium paying term 10 years-annual, policy term 20 years, benefit option: level income benefit, annual premium Rs.61,256* 10 years, guaranteed annual income benefit Rs.7,20,000 in monthly installments over 10 years, expected lump sum maturity benefit of Rs.5,04,904/- @8%.
²⁰As per annual audited figures submitted to IRDAI for the period FY 20-21.
²¹As per annual audited figures submitted to IRDAI for the period FY 20-21.
²²ABSLI Assured Income Plus Plan, age 22 years, Monthly Investment Rs.5000/-, Premium Payment Term 12 years, Policy Term 13 years, Sum Assured Rs.16.12 lacs, Total premium paid: Rs.7.20 lakhs, You get Rs.47.16 lakhs at the age of 54 years
²³ABSLI Vision LifeIncome Plus Plan, age 21 years, premium payment term: 8 years annual, policy term: 64 years, Income Benefit: Whole Life Income, Annual premium Rs50,000 paid for 8 years (Total Rs.400000), Guaranteed Income Benefit of Rs.4,93,800/-, lump sum on maturity payout Rs.53,19,256 @8%, total guaranteed benefit of Rs.68,96,720/-.
²⁴ABSLI Assured Savings Plan, age 30 years, investment period 6 years, maturity benefit to be received after 12 years, payment frequency monthly
²⁵Guaranteed Maturity Benefit is equal to the fixed amount that the life insured will receive at the maturity date
²⁶Sum assured is the fixed amount as defined under the policy which the life insured will receive at the maturity
^There are exclusions attached to the riders. Please refer rider brochure for more details
ABSLI Assured Savings Plan is a non-participating traditional insurance plan (UIN: 109N134V03).
ABSLI Assured Income Plus Plan is a non-linked non-participating individual life insurance savings plan (UIN: 109N127V05).
ABSLI Vision Life Income Plan is a non-linked participating individual life insurance savings plan ( UIN: 109N131V01).
ABSLI Secure Plus Plan is a non-linked non-participating individual life insurance savings plan ( UIN: 109N102V05).
ABSLI Guaranteed Milestone Plan is a non-participating traditional insurance plan (UIN: 109N106V10)
ABSLI Assured Flexi-Savings plan is a non-linked non-participating individual life insurance savings plan (UIN: 109N126V03).
ABSLI Vision MoneyBack Plus Plan s a traditional participating life insurance plan (UIN: 109N093V04).
ABSLI Vision LifeIncome Plan is a traditional participating endowment plan (UIN: 109N079V05).
ABSLI Savings Plan is a non-linked participating life insurance endowment plan (UIN: 109N088V02). Some benefits are guaranteed, and some benefits are variable with bonuses based on the future performance of the participating business and economic conditions.
ABSLI Vision LifeSecure Plan is a traditional participating whole life insurance plan (UIN: 109N087V04).
ABSLI Income Assured Plan is a traditional non-participating savings plan (UIN: 109N089V06).
ABSLI Vision Endowment Plus Plan is a traditional participating endowment plan (UIN: 109N092V04).
ABSLI Jeevan Bachat Plan is a non-linked non-participating life insurance plan (UIN: 109N107V03).
ABSLI Monthly Income Plan is a participating non-linked life insurance plan (UIN: 109N122V02).
All terms & conditions are guaranteed throughout the policy term, except for the bonuses which would be declared at the end of each financial year. 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.
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