ABSLI Assured FlexiSavings Plan

PROTECTING your financial goals with guaranteed returns and flexibility through unlimited withdrawals

The ABSLI Assured FlexiSavings Plan offers guaranteed returns to help achieve your financial goals and the flexibility to access your corpus through unlimited withdrawals. As an assured savings insurance plan, it also protects you and your loved ones with a life cover.

Key Features

  • Guaranteed1 Annual Income after the completion of deferred period
  • Income Booster of 5% of the accrued amount each year
  • Loyalty additions
  • Enjoy a 10% additional benefit on total premiums paid
  • Survival Benefit

    After completion of the policy term, and provided all due premiums have been paid, you are eligible to receive a number of benefits:

    Annual Income

    An annual income accrues under your policy at the start of each year. It is calculated as a percentage of your annualised premium.

    Calculation of annual income varies based on the premiumpayment term and the life insured’s age at policy inception.The rates applicable are provided in the table below:

    Annual

    Income

    (as % of

    Annualised

    Premium)

     Life Insured’s

    Age at Policy

    Inception

    Premium Payment Term
    5 years 8 years 10 years 12 years
    Age up to 50 years 30% 60% 82.5% 105%
    Age above to 50 years 20% 50% 70% 90%

    You have the flexibility to accumulate the annual income, withdraw from the accrued amount partially/fully anytime during the policy term, or collect the annual income as it accrues.

    Income Booster

    At the end of each year, an income booster equal to 5% of the accrued amount* is added to your non-linked insurance plan.The booster is addedannually during the policy term,and it helps grow your savings.

    *The accrued amount is the accumulation of your annual income over time, including the yearly 5% income booster (less withdrawals, if any).

    Loyalty Addition

    The loyalty addition is a percentage of the accrued amount that gets added to your benefits at the end of the benefit payout period.

    The percentage rates vary based on the annualised premium and the premium payment term. The rates used for calculating loyalty addition as a percentage of the accrued amount are given in the table below:

    Loyalty

    Additions (as

    % of Accrued

    Amount)

    Annualised Premium  Premium Payment Term 
    5 years 8 years 10 years 12 years 
    Less than Rs. 3 lakh p.a. 5% 15% 25% 25%
    Rs. 3 lakh p.a. and above 6% 17% 27% 27%

    Enhanced Return of Premiums (ERoP)

    At the end of the benefit payout period, the Total Premiums Paid by you is payable along with the Accrued Amount and Loyalty Addition, if any. This amount is further enhanced by 10% if all due premiums under your policy have been paid.

  • Maturity Benefit

    The maturity benefit is a combination of the accrued amount, the loyalty addition, and the enhanced return of premium. It is payable at the end of the policy term.

  • Death Benefit

    In the unfortunate event of the life insured's demise during the policy term, the death benefit is paid to the nominee as a lump sum. This pay-out includes the sum assured on death, plus the accrued amount (if any).

    For more details on the death benefit of this non-participating life insurance plan, please refer to the product brochure.

  • Customisable Benefits

    You can enhance your insurance cover during the policy term by adding the following riders for a nominal extra cost.

    • ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)
    • ABSLI Surgical Care Rider (UIN: 109B015V03)
    • ABSLI Waiver of Premium Rider (UIN:109B017V03)
    • ABSLI Critical Illness Rider (UIN: 109B019V03)
    • ABSLI Hospital Care Rider (UIN: 109B016V03)
  • Type of Plan

    A Non-Linked Non-Participating Individual Life Insurance Savings Plan

  • Coverage

    All Individuals (Male | Female | Transgender)

  • Entry Age of Life Insured (age at last birthday)

    Minimum:

    • 4 years for policy term of 26 years
    • 6 years for policy term of 22 years
    • 8 years for policy term of 20 years
    • 11 years for policy term of 17 years

    Maximum: 60 years

  • Maturity Age of Life Insured (age at last birthday)

    Minimum: 18 years

    Maximum: 86 years

  • Premium Paying Term (PPT)
    • 5 years
    • 8 years
    • 10 years
    • 12 years
  • Deferred Period

    2 years after completion of PPT

  • Policy Term (PT)
    • For PPT of 5 years: PT of 17 years
    • For PPT of 8 years: PT of 20 years
    • For PPT of 10 years: PT of 22 years
    • For PPT of 12 years: PT of 26 years
  • Payment Mode

    Annual, semi-annual, quarterly, and monthly modal loading is applicable as per the rates given below:

    • Annual: 0%
    • Semi-annual: 1%
    • Quarterly: 1.5%
    • Monthly: 3.5%
  • Minimum Annualised Premium

    Rs. 50,000 p.a.

  • Maximum Annualised Premium

    No limit (subject to Board-approved underwriting policy)

  • Minimum Sum Assured

    Rs. 5,50,000

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Riders

  • ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)

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

  • ABSLI Critical Illness Rider (UIN : 109B019VO3)

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

  • ABSLI Surgical Care Rider (UIN: 109B015V03)

    Get lump sum benefit amount to cover surgical expenses

  • ABSLI Hospital Care Rider (UIN: 109B016V03)

    provides daily cash benefit in case of hospitalization for a minimum period of 24 hours for medically necessary treatment of any Illness or Injury payable from the first day for the duration of hospitalization.

  • ABSLI Waiver of Premium Rider (UIN: 109B017V02)

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

FAQs

  • What premium payment & policy termoptions are available under ABSLI Assured FlexiSavings Plan?

    This life insurance savings plan allows you to choose amongdifferent premium-payment and policy terms. Select from any of the following options:

    • Premium payment term of 5 years with a policy term of 17 years
    • Premium payment term of 8 years with a policy term of 20 years
    • Premium payment term of 10 years with a policy term of 22 years
    • Premium payment term of 12 years with a policy term of 26 years

    You can also enhance your insurance cover with the help of additional riders.

  • What are the maturity benefits under ABSLI Assured FlexiSavings Plan?

    The maturity benefit of this savings insurance plan is a combination of the accrued amount, the loyalty addition, and the enhanced return of premium. It is payable when the policy term ends, provided that all premium instalments have been cleared.

  • What are the survival benefits under ABSLI Assured FlexiSavings Plan?

    This assured savings insurance plan provides a number of survival benefits. These are payable after completion of the deferred period, provided that all premium instalments have been paid. The survival benefits include the following:

    Annual Income: This accrues as a percentage of the annualised premium at the beginning of each year after completion of the deferred period. However, the percentage rates vary based on the premium payment term and the life insured’s age at policy inception.

    Income Booster: This boosts your accrued amount by 5% at the end of each year. The income booster is applicable only after completion of the deferred period.

    Loyalty Addition: This is added to your accrued amount once you have cleared all premiums due. The loyalty addition is a percentage of the accrued amount, but the rate varies based on the annualised premium and the premium payment term.

    Enhanced Return of Premiums (ERoP): At the end of the Policy Term, the Total Premiums Paid by you is payable along with the Accrued Amount and Loyalty Addition, if any. This amount is further enhanced by 10% if all due premiums under your policy have been paid.

  • What is the death benefits under ABSLI Assured FlexiSavings Plan?

    If the policyholder passes away during the policy period, the death benefit is paid to the nominee as a lump sum. The pay-out includes the sum assured on death, plus the accrued amount (if any). Here, the sum assured on death is the higher of:

    • 10 times the Annualised Premium,
    • 150% of Total Premiums paid till the date of death, or
    • the Sum Assured

    The nominee could also choose to receive the death benefit in annual or monthly instalments instead of a lump sum. Each instalment represents a percentage of the death benefit. The instalments are paid over a 10-year period.

  • Is there any withdrawal limit under the ABSLI Assured FlexiSavings Plan?

    You can withdraw only up to the total accrued amount under this non-participating life insurance policy. However, you can make partial or full withdrawals at any time throughout the policy term.

  • When should I start investing in ABSLI Assured FlexiSavings Plan?

    An early start will give your investment corpus more time to grow. The minimum entry age for this non-linked insurance plan is just four years when you choose a policy term of 17 years.

  • Are the returns of ABSLI Assured FlexiSavings Plan taxable?

    This plan provides tax benefits2 u/s 80C & 10 (10D) of the Income Tax Act, 1961.

    2Taxbenefits are subject to changes in the tax laws. Please consult your tax advisor for the same.

  • What is the outcome if my policy lapses or gets discontinued?

    Your policy could lapse or get discontinued if you miss the premium due date and then fail to pay the premium within the grace period. In such cases, you could face the following outcomes:

    Discontinuance of premium payment before policy acquires a surrender value

    In this case, your insurance cover ceases and no benefits are payable. However, you can revive the policy within five years from the due date of the unpaid premium.

    Discontinuance of premium payment after policy acquires a surrender value

    The savings insurance plan becomes a reduced paid-up (RPU) policy from the due date of unpaid premium. This affects the benefits payable to you. The RPU sum assured and RPU annual income are now calculated as the sum assured and the annual income, respectively, multiplied by the RPU factor. Here, the RPU factor is the ratio of:

    • The number of premium instalments paid to date, and
    • The total number of premium instalments originally due for the policy term.

    Death benefit for RPU policies: This is the RPU sum assured on death plus the accrued amount, if any. The RPU sum assured on death during the entire policy term is the maximum of:

    • 10 times the annualised premium, reduced in the same proportion as the RPU sum assured to the sum assured
    • 150% of the total premiums paid up to the date of death, or
    • the RPU sum assured

    Survival benefit for RPU policies:

    • If the life insured survives till the end of the deferred period, the RPU annual income and income booster is added to the accrued amount. The accrued amount is paid out at the end of the policy term along with total premiums paid.
    • At any time after the deferred period ends, the policyholder can make part or full withdrawals from the accrued amount or collect the RPU annual income when it becomes due.
    • No loyalty addition is payable on RPU policies.

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1Provided all premiums are paid

Disclaimer:

The Trade Logo “Aditya Birla Capital” Displayed Above Is Owned By ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) And Used By ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the License.

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). A non-linked non-participating individual life insurance savings 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 substandard lives, smokers or people having hazardous occupations etc. The insurance cover for the life insured (including minors) will commence on the policy issue date. For further details, please refer to the policy contract. Tax benefits are subject to changes in the tax laws. For more details and clarification call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true. For more details on the risk factors, terms and conditions please read the sales brochure carefully before concluding the sale. Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Registered Office: One World Center Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. Call Centre: 1-800-270-7000 www.adityabirlasunlifeinsurance.com IRDAI Reg. No. 109 CIN: U99999MH2000PLC128110 UIN: 109N126V02

ADV/9/20-21/1060

Need help with life insurance?

+91
I agree to the Terms of Usage and Privacy Policy and authorize Aditya Birla Sun Life Insurance Company Limited and its associates to call/SMS/Email/WhatsApp me.

Thank you for your details. We will reach out to you shortly.

1800-270-7000 or reach out to us on this number.

Thank you for your details. Currently we are facing issue in our system.

1800-270-7000 or reach out to us on this number.