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Life is filled with unpredictable events and there are so many responsibilities to be fulfilled. We strive to give our family a financially secure life and hope it remains that way.
 
Death Benefit

In case of unfortunate demise of the life insured during the policy term Death Benefit will be paid to the nominee. Death Benefit is the Sum Assured on death less any previously paid Terminal Illness Benefit. The policy shall be terminated once the Death Benefit is paid.

Sum Assured on Death for regular | limited pay will be highest of :

  • 10 times of the annualised premium for all ages; or
  • 105% of all the premiums paid as on the date of death; or
  • Minimum guaranteed sum assured on maturity; or
  • Absolute amount assured to be paid on death

Sum Assured on Death for single pay will be highest of :

  • 125% of single premium for all ages; or
  • Minimum guaranteed sum assured on maturity; or
  • Absolute amount assured to be paid on death

The minimum guaranteed sum assured on maturity is nil under this plan.

The absolute amount assured to be paid on death is the Effective Sum Assured as on the date of death.

  • Under Level Term Assurance Option the Effective Sum Assured is the sum assured at inception. It will remain constant throughout the policy term.
  • Under Increasing Term Assurance Option the Effective Sum Assured is the sum assured at inception increasing on every policy anniversary by 5% or 10% as chosen by you at inception.

For Level Term Assurance Option, the Effective Sum Assured shall include any change in Sum Assured arising from the exercise of the Enhanced Life Stage Protection option.

The nominee has an option to take the Death Benefit by choosing one of the following options

  • Lump sum payment

    or

  • Staggered payment with fixed annual income. In this option the Death Benefit will be paid as

    • One-time payout of 20% of Death Benefit at the time of claim settlement plus;
    • The remaining Death Benefit is paid as an annual income. An annual income as a fixed percentage of Death Benefit on each death anniversary of the life insured for the chosen payout term (10 or 15 years) will be payable as shown in the table given below:

  • Payout term
    10
    15
    % of Death Benefit
    11%
    8.73%


    or

  • Staggered payment with increasing annual income @ 5% p.a. In this option the Death Benefit will be paid as

    • One-time payout of 20% of Death Benefit at the time of claim settlement plus;
    • The remaining Death Benefit is paid as an annual income. An annual income as a fixed percentage of Death Benefit at the time of claim settlement and then increasing at the rate of 5% per annum simple on each death anniversary of the life insured for the chosen payout term (10 or 15 years) will be payable as shown in the table given below:

  • Payout term
    10
    15
    % of Death Benefit
    9.16%
    6.47%

In case you are diagnosed with a Terminal Illness, 50% of the applicable Sum Assured on Death, subject to a maximum of Rs. 2.5 crore, will be paid immediately. On subsequent death of the Life Insured during the policy term, the Sum Assured on Death shall be reduced by the amount of Terminal Illness Benefit already paid. Future due premiums are liable to be paid on their premium due dates.

Terminal Illness Benefit shall only be payable on the first diagnosis of any Terminal Illness of the Life Insured during the policy term

Joint Life Protection


Under this option, two lives i.e., you (primary life insured) and your spouse (secondary life insured) are covered under the same policy. The sum assured applicable for your spouse shall be equal to 50% of your applicable sum assured. This option shall only be available where the sum assured of primary life insured is greater than or equal to Rs 6,000,000. You can opt for this option at the inception of the policy and the same shall not be changed subsequently.

JointEnhanced Lifestage Protection


Your protection need varies at different lifestages owing to occurrence of joyous events such as marriage & birth of children. You may opt to increase your life cover on occurrence of each of the events without undergoing for any fresh medical examination. This feature is available only for policy under Level Term Assurance Option, standard life at inception of the policy, regular pay policy and the attained age of life insured is less than or equal to 50 years while exercising this option. This option is not available if Joint Life Protection is opted. Future premiums shall be increased in proportion of the increase in the sum assured to the sum assured at inception of the policy and will be reflected from the subsequent policy anniversary.

The details of Enhanced Lifestage Protection are mentioned below:

Event
Enhanced Protection
(% of Sum Assured at Inception of the policy)
First Marriage
50% subject to a maximum of Rs. 5,000,000
Birth of 1st Child
25% subject to a maximum of Rs. 2,500,000
Birth of 2nd Child
25% subject to a maximum of Rs. 2,500,000


You can choose to reduce the sum assured in future to the extent of sum assured increased under the Enhanced Lifestage Protection option. Any increase in sum assured due to your first marriage, birth of first child or second child under this option, may be subsequently reduced subject to the written request

Maturity Benefit


There is no maturity benefit payable under this plan.

Customisable Benefits

For added protection, you can enhance your insurance coverage during the policy term by adding following riders for a nominal extra cost.

  • ABSLI Accidental Death and Disability Rider (UIN: 109B018V03)
  • ABSLI Critical Illness Rider (UIN: 109B019V03)
  • ABSLI Surgical Care Rider (UIN: 109B015V03)
  • ABSLI Hospital Care Rider (UIN: 109B016V03)
  • ABSLI Waiver of Premium (UIN:109B017V02)
  • ABSLI Accidental Death Benefit Rider Plus (UIN:109B023V01)
Riders are not available for Joint Life Protection Option. You can only opt for either ABSLI Accidental Death and Disability Rider or ABSLI Accidental Death Benefit Rider Plus

Please refer to detailed brochures on riders, consult your financial advisor or visit our website for further details.
 
 
Disclaimer
Risk Factors And Disclaimers This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating traditional term insurance plan. All terms & conditions are guaranteed throughout the policy term. Service Tax and Education Cess 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. This Brochure contains salient features of the plan including risk factors, terms & conditions, please read the brochure carefully before concluding the sale. For detailed terms & conditions 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. IRDAI hereby clarifies to the public that - IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums - IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number. Registered Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. Call Centre: 1-800-270-7000 www.insurance.birlasunlife.com Reg. No. 109 | CIN: U99999MH2000PLC128110. ADV/10/16-17/10020 VER2/OCT/2016
Unique No. 109N091V02