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Aditya Birla Sun Life Insurance Company Limited
Aditya Birla Sun Life Insurance Company Limited
Actuarial Cost Assumptions
Definition:
Actuarial cost assumption is an estimation done by the actuarial department of financial services. This estimation includes assumptions of uncertain variables in a life insurance policy. This addresses the purpose of calculating the cost of insurance, pension, and benefits. It is based on mathematical and statistical models that involve risk and probability evaluation for a particular event.
Description:
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Actuarial Cost assumptions in a life insurance policy consider the cost of return on investments and the life expectancy of the pension holder.
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This helps figure out the present costs of the plan and its present or future benefits.
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Actuarial assumptions may turn out to be wrong sometimes which are further rectified by actuarial adjustments.
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Buy ₹1 Crore Term Insurance at Just ₹508/month*
ABSLI Salaried Term Plan
Exclusively For Salaried Individuals
4 Plan Options
Life Cover upto 70 years
Optional Accelerated Critical Illness benefit
Inbuilt Terminal Illness Benefit
Life Cover
₹1 crore
Premium:
₹508/month*
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ABSLI Salaried Term Plan (UIN:109N141V03) is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 2 (Life Cover with ROP) this product shall be a non-linked non-participating individual savings life insurance plan.
*Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
1LI Age 21, Male, Non Smoker, Option 1: Life Cover, PPT: Regular Pay, SA: ₹ 1 Cr., PT: 10 years, Premium paying term: 10 years, Annual Premium: ₹ 5900/- ( which is ₹ 491.66/month) Premium exclusive of GST. On death, 1 Cr SA is paid and the policy terminates.
ADV/8/23-24/1496
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