Guaranteed Additions
While the policy is in force, guaranteed additions will be added to the Policy Fund Value on each policy anniversary.
Vesting Benefit
Vesting will be as per the scheme rules, upon which an amount as decided by the Master Policyholder shall be payable, in accordance with the scheme rules.
Surrender Benefit
You can surrender the policy anytime and we will pay the Policy Fund Value. The policy will be terminated
Death Benefit
If the Member dies while the policy is in force, the Death Benefit payable will be an amount, as decided by the Master Policyholder, in accordance with the scheme rules.
Minimum Group Size | 10 members |
Minimum Age at Entry | 18 years |
Maximum Age at Entry | As per scheme rules /79 years |
Maximum Age at Maturity | As per scheme rules /80 years |
Policy Term | One Year (Annually Renewable) |
Maximum Policy Term | Annually renewable. Policy to continue indefinitely until it's surrender, or expiry of membership term of existing members and there are no new members |
Minimum Premium | Rs.100,000/ No upper limit |
Besides the general charges, the policyholder will be levied premium allocation charges of 0.5% of the premiums and fund management charges of 1% per annum for all funds.
The policyholder can surrender the policy anytime and he/she will be paid the entire Policy Fund Value. The policy will stand terminated.
Yes. You can cancel the policy anytime during the freelook period of 15 days from the date of its purchase.
You need to make a minimum contribution of Rs. 1 lakh every year towards the policy. However, there is no cap on the maximum contribution that you can make.
No. Partial withdrawals are not allowed under this policy. Fund withdrawals are allowed only in case of employee’s exit from the service in accordance with the scheme rules.
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating, non-linked, fund based group plan. The amount of Contributions less Benefits paid plus interest earned are reflected in the Policy Account value and is guaranteed at all times. ABSLI’s liability is limited to the Policy Account Value and the Sum Assured payable in case of death. BSLI reserves the right to recover levies such as the GST levied by the authorities on insurance transactions. If there be any additional levies, they too will be recovered from you. This brochure contains only the salient features of the plan. For further details please refer to the policy contract. Tax benefits mentioned herein are subject to changes in the tax laws. Insurance is the subject matter of the solicitation. For more details on this plan visit our website.
UIN: 109L119V03
ADV/12/24-25/2549
Get immediate income payout after 1 day of policy issuance^
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