Exit Intent Popup /Assets/Project/ABCL/images/close-button.svg

Get Guaranteed Returns After a Month^

Unlock the Power of Smart Investment!

*Min 3 characters
+91
*Please enter a valid 10 digit Mobile No.
Exit Intent Popup /Assets/Project/ABCL/images/close-button.svg
/Assets/Project/ABCL/images/Icon-Filled.svg

I agree to the Terms of Usage and Privacy Policy. By submitting my contact details here, I override my NDNC registration and authorize ABSLI to contact me by phone/e-mail/SMS/WhatsApp. 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. BEWARE OF SPURIOUS / FRAUD PHONE CALLS! IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint. ABSLI Nishchit Aayush is a non-linked non-participating individual savings life insurance plan (UIN No 109N137V05)

/Assets/Project/ABCL/images/Icon-Filled.svg

Thank you

for your details.

We will reach out to you shortly.

Beneficiary

0
Rated by 0 readers
Definition
In insurance, the beneficiary is the person or people entitled to receive the claim amount and other benefits of the insurance policy at the time of death of the policyholder or at the end of the policy term.
Description
The eligibility to get the claim benefits is determined either by the conditions in the policy papers or by other legal standards. When an insurance plan is issued, the policyholder should specify the name of the beneficiary. There are additional procedures for naming a beneficiary if the original beneficiary is no longer alive or does not meet the age limits at that time.

In most cases, the beneficiary would be the policyholder’s wife or kids. In other instances, it can be any kind of charity, your company, some other relatives in the family, or multiple beneficiaries.
Example
Rohit purchased a term plan with a policy term of 20 years. He declared his wife Sudha as the beneficiary under the policy. After paying the premium for 10 years, Rohit died. The insurance company paid the benefits to the beneficiary who in this case will be Sudha.
How much helpful you found for you?
0
Rated by 0 readers
0 / 5 ( 0 reviews )
Not Helpful
Somewhat Helpful
Helpful
Good
Best

Thank you for your feedback

Don’t forgot to share helpful information in your circle

Newly Added Terms

Newly Added Terms on Insurance Dictionary

Most Appreciated Terms

Most appreciated Terms on Insurance Dictionary
Buy ABSLI Assured Savings Plan Online

Guaranteed income with Lumpsum benefit

Buy ABSLI Nishchit Aayush Plan now
BUY ONLINE

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

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

Buy ₹ 1 Cr Term Cover @Rs.492/month
for Salaried Individuals¹
*Min 3 characters
+91 phone
*Please enter a valid 10 digit Mobile No.
*This field is required.
Buy ₹1 Crore Term Cover @ @Rs.492/month for Salaried Individuals¹
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:
₹492/month¹
  • Disclaimer

    ABSLI Salaried Term Plan (UIN:109N141V01) 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.
    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/5/22-23/290