ABSLI Guaranteed Milestone Plan


PROTECTING your life goals now comes with a guarantee.


Aditya Birla Sun Life Insurance Guaranteed Milestone Plan provides life cover with fully guaranteed1 financial benefits on death or maturity and helps you plan for your non-negotiable life goals.

Key Features

  • Fully guaranteed1 benefits on death or maturity
  • Sum Assured is 15X Annualised Premium
  • Guaranteed Additions that boost your corpus
  • Option to cover your spouse in the same policy
  • Death Benefit

    For Single life
    In case of the unfortunate demise of the life insured during the policy term, the Sum Assured on Death2 will be paid to the nominee in 10 equal annual instalments.
    2For more details regarding this benefit, refer to the brochure.

    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 and secondary life insured is less than or equal to 50 years. No rider can be opted under this option and this option cannot be discontinued except due to the unfortunate demise of either of the lives who are insured.

  • 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
    • Accrued 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 the event of death of the 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.

    Please refer to the product brochure for more details.

  • Customisable Benefits

    For added protection, you can enhance your insurance coverage during the policy term by adding riders for a nominal extra cost. Please refer to detailed product brochure and rider brochures for further details.

  • Entry Age (age last birthday)

    30 days5 - 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

    15X Annualised Premium

  • Minimum Sum Assured

    Rs. 2,25,000

  • Minimum Maturity Sum Assured

    Rs. 90,000

  • Premium Mode

    Annual, Semi-Annual, Quarterly and Monthly


    5Risk commences from the first policy anniversary

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Riders

  • ABSLI Accidental Death and Disability Rider (UIN: 109B018V03)

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

  • 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)

    Get daily cash benefit, additional ICU benefit and lumpsum recuperating benefit upon hospitalization

  • ABSLI Waiver of Premium Rider (UIN: 109B017V03)

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

FAQs

  • What is the main feature of this plan?

    Below are some of the important features of this plan:

    • Fully guaranteed1 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

    1 Provided all premiums are paid.
    3Tax laws are subject to changes in tax laws. You are advised to consult your tax advisor for the same.

  • Who should buy this plan?

    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.

  • Will I get any tax benefit?

    As per extant tax laws, this plan offers tax benefits3 under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 1961, subject to fulfillment of the other conditions of the respective sections prescribed therein.

    3Tax laws are subject to changes in tax laws. You are advised to consult your tax advisor for the same.

  • What is the death benefit with this policy?

    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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1Provided all premiums are paid

Disclaimer:

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. For further details please refer to the policy contract. Tax benefits are subject to changes in the tax laws. 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 Toll-free : 1-800-270-7000 Website: www.adityabirlasunlifeinsurance.com

Registered Office: One World Center Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI reg no.109 CIN: U99999MH2000PLC128110

UIN: 109N106V10 ADV/8/21-22/932

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.