Savings Plan

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.

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



What is an Endowment Plan?
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:






























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






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.




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.


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






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
















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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?
- 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.
- 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.
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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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