ABSLI Assured FlexiSavings Plan

ABSLI Nishchit Laabh Plan

Where uncertainty is backed up by Guarantee!
Where uncertainty is backed up by Guarantee!
2 Benefit Options - Long Term Income & Whole Life Income Guaranteed# Lumpsum Benefit
Flexible Bonus Payouts Moneyback Option

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Give ₹50000/year for 8 years and Get  ₹11 lakhs at Maturity1
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  • Disclaimer

    #Provided all due premiums are paid
    1ABSLI Nishchit Laabh Plan, Policy holder age :35 years chooses endowment option and pays annualized premium of INR 50,000. He chooses PPT – 8 yrs, PT – 25 yrs. He receives Guaranteed lumpsum benefit of ₹ 7,00,000 and loyalty addition of ₹4,00,000.

Why buy ABSLI Nishchit Laabh Plan?

ABSLI Nishchit Laabh Plan provides guaranteed# returns with multiple flexibility and security for your family despite the ups and downs of life. It helps achieve life's goals by taking care of the expenses and burden of any uncertainty. The plan offers guaranteed# lumpsum benefits and has regular income and moneyback option that one can choose depending on their saving needs.

Key Features
  • iconbullet Choice of 3 Plan Options – Endowment, Income with Lumpsum and Moneyback Option.
  • iconbullet Get Long-term guaranteed# income for 20 or 30 years under Income with Lumpsum option
  • iconbullet Loyalty Additions to boost maturity corpus, survival benefits as per the chosen plan option.
  • iconbullet Guaranteed# Lumpsum Benefit at Maturity of the policy.
  • iconbullet Flexibility to Build Your Own Plan with choice of plan option, premium payment term, policy term.
  • iconbullet Get Assured protection with life cover across policy term.
Brochure Leaflet Policy Contract
Nishchit Laabh Plan

Benefits of ABSLI Nishchit Laabh Plan

ABSLI Nishchit Laabh Plan provides guaranteed# lumpsum at maturity and also offers Income with lumpsum and moneyback option

Savings Plan
Survival Benefit
On Survival of life insured, provided all due premiums have been paid, Survival Benefit is paid as below.
  • Endowment Option: No benefit is applicable
  • Income with Lumpsum Option: On survival of the Life Insured till the end of every policy year following the completion of the Premium Payment Term, Income Benefit, expressed as a percentage of Annualized Premium, will be paid to you.
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Savings Plan
Death Benefit
In the unfortunate event of Death of the Life Insured anytime during the Policy Term, provided the policy is in-force, Death Benefit shall be payable as a lump-sum to the nominee.

Death Benefit is defined as higher of:

a) Sum Assured on Death
b) Surrender Benefit

Where,

‘Sum Assured on Death’ is higher of
Sum Assured
105% of Total Premiums Paid till date of death

“Sum Assured” is equal to a multiple, depending upon Life Insured’s age at inception of the Policy, of the Annualized Premium

“Total Premiums Paid” means total of all the premiums received, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

“Annualized Premium” shall be the premium amount payable in a year chosen by the Policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

Note: The Policy covers death under all situations (including death during declared or undeclared war, civil commotion, invasion, terrorism, hostilities) except death due to suicide as specified in the suicide clause.
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Savings Plan
Maturity Benefit
Endowment & Income with Lumpsum Option:
On survival of life insured till the end of policy term, Guaranteed# Lumpsum Benefit (GLB) plus Loyalty additions are payable. Guaranteed# Lumpsum Benefit is the amount which is guaranteed# to become payable on the date of maturity and is expressed as percentage of Total Premiums Payable over the Premium Payment Term, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.

Loyalty Addition shall be paid on the date of maturity, provided all due premiums have been paid.

Endowment Option:
Guaranteed# Lumpsum Benefit (as a % of Total Premiums Payable)
 
 
 
 
 
 

PPT / PT
 
 
 
 

20
 
 
 
 

25
 
 
 
 

8
 
 

150%
 
 

175%
 
 
 
 

10
 
 

150%
 
 

175%
 
 
 
 

12
 
 

150%
 
 

175%


Loyalty addition (as a % of Total Premiums Payable)
 
 
 
 
 
 

PPT / PT
 
 
 
 

20
 
 
 
 

25
 
 
 
 

8
 
 

50%
 
 

100%
 
 
 
 

10
 
 

50%
 
 

100%
 
 
 
 

12
 
 

50%
 

100%

Income with Lumpsum Option:
Guaranteed# Lumpsum Benefit (as a % of Total Premiums Payable)

 
 
 
 
 
 

PPT / PT
 
 
 
 

PPT + 20
 
 
 
 

PPT + 30
 
 
 
 

8
 
 

80%
 
 

100%
 
 
 
 

10
 
 

80%
 
 

100%
 
 
 
 

12
 
 

80%
 
 

100%

Loyalty addition (as a % of Total Premiums Payable)

 
 
 
 
 
 

PPT / PT
 
 
 
 

PPT + 20
 
 
 
 

PPT + 30
 
 
 
 

8
 
 

80%
 
 

100%
 
 
 
 

10
 
 

80%
 
 

100%
 
 
 
 

12
 
 

80%
 
 

100%

Moneyback Option:
No maturity benefit is payable

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Savings Plan
Tax Benefit
You may be entitled to certain applicable tax benefits on the premiums paid and benefits received under Your Policy. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek an independent tax advice.
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Rider Benefit
For added protection, you can enhance your risk coverage during the policy term by adding riders at a nominal extra cost.
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Enhance ABSLI Nishchit Laabh Plan with Riders

Enhance your cover with Riders at nominal additional premium
There are exclusions attached to the riders. Please refer rider brochure for more details

ABSLI Accidental Death Benefit Rider Plus
UIN: 109B023V02
This rider provides 100% of Rider Sum Assured as an additional lump sum amount in case of death due to accident of Life Insured. Additionally, the rider premiums collected aſter the date of Accident till date of death, shall be refunded with interest, along with death benefit payable. This rider is only applicable for a Life Insured aged 18 years & above and the rider policy term cannot exceed the base policy term.
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ABSLI Critical Illness Rider
UIN: 109B019V03
This rider provides lump sum on survival of 30 days from the date of diagnosis of any of the specified critical illnesses. This rider is only applicable for a Life Insured aged 18 years and above and the rider policy term cannot exceed the base policy term.
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ABSLI Surgical Care Rider
UIN: 109B015V03
This rider provides lump sum benefit in case of hospitalization for a minimum period of 24 hours for undergoing medically necessary surgery in India. This rider is only applicable for a Life Insured aged 18 years and above and the rider policy term cannot exceed the base policy term.
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ABSLI Hospital Care Rider
UIN: 109B016V03
This provides daily cash benefit in case of hospitalization for a minimum period of 24 hours for medically necessary treatment of any Illness or Injury payable from the first day for the duration of hospitalization. This rider is only applicable for a Life Insured aged 18 years and above and the rider policy term cannot exceed the base policy term.
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ABSLI Waiver of Premium Rider
UIN: 109B017V03
This rider waives off all future premiums of the base plan and the attached riders throughout the rest of the premium payment in case of diagnosis of Critical Illness, Disability or Death (only if Life Insured is a minor i.e. below 18 years of age and is different from the Policyholder).
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How does this Plan work?

absli nishchit laabh plan
  • Mr. Vikram Verma, age 35 years, invests Rs. 50,000 p.a. in ABSLI Nishchit Laabh Plan.
  • He opts for Endowment Option with Premium Payment Term of 10 years and Policy Term of 20 years.
  • Mr. Verma survives through the Policy Term and receives Maturity Benefit at end of policy term.
View Illustration
  • Mr. Ravi Kumar, age 35 years, invests Rs. 50,000 p.a. in ABSLI Nishchit Laabh Plan.
  • He opts for Income with Lumpsum plan option with Premium Payment Term of 10 years and Policy Term of 30 years.
  • He chooses to receive his income on annual basis.
  • Mr. Kumar survives through the Policy Term and receives Income Benefit during the policy term and Maturity Benefit at end of policy term.
View Illustration
  • Mr. Vikas Garg, age 35 years, invests Rs. 50,000 p.a. in ABSLI Nishchit Laabh Plan.
  • He opts for Moneyback option with Premium Payment Term of 10 years and Policy Term of 20 years.
  • Mr. Garg survives through the Policy Term and receives Moneyback payouts during the policy term.
View Illustration
VIEW ELIGIBILITY CRITERIA

Product Specifications

Type of Plan
 

A Non-linked, Non-participating, Individual life insurance Savings plan

Coverage
 

All Individuals (Male | Female | Transgender)
 
 

Benefit Options
 

  • Endowment Option

  • Income with Lumpsum Option

  • Moneyback Option

Benefit options chosen at inception cannot be changed thereafter. Premium will vary depending upon the Option chosen at inception.
 

Age of the Life Insured at Entry (age as on last birthday)
 

Minimum
 

30 days*

* In case the Life Insured is a minor, the Policy will automatically vest once the life insured attains the age of majority. The risk coverage for the minors will start from the Date of Commencement of Risk.
 

Maximum
 

Endowment & Income with Lumpsum Option: 60 years

Moneyback Option: 55 years
 
 

Maturity Age of the Life Insured (age as on last birthday)
 

Minimum
 

18 years
 

Maximum
 

Endowment Option : 85 years (age last birthday)

Income with Lumpsum Option: 88 years (age last birthday)

Moneyback Option: 80 years (age last birthday)
 
 

Premium Payment Term (PPT) & Policy Term (PT)
 

 

 

Plan Option

Premium Payment Term

(years)

Policy Term

(years)
 
 
 

Endowment Option
 

8, 10 and 12
 

20, 25
 
 
 

Income with Lumpsum Option
 

(PPT + 20), (PPT + 30)
 
 
 

Moneyback Option
 

20, 25

 
 
 

Premium Payment Modes and Modal Factors
 

Annual | Semi-Annual | Quarterly | Monthly

 

Mode

Annual

Semi-annual

Quarterly

Monthly

Modal Factors
 

0%
 

2.0%
 

3.0%
 

4.0%

 
 
 

Minimum Annualized Premium
 

Rs. 15,000
 
 

Maximum Annualized Premium
 

Rs. 1,00,000
 
 
 

Minimum Sum Assured
 

Rs. 1,50,000
 
 
 

Maximum Sum Assured
 

Rs. 10,60,000 (Subject to Board Approved Underwriting)
 
 

Benefit Payout Frequency
 

You can choose to receive income benefit under Income with Lumpsum option in annual or semi-annual or quarterly or monthly frequency. Income will be paid at the end of chosen frequency as opted by you.


 

POS Boundary Conditions

Premium Payment Term (PPT) & Policy Term (PT)

 

Plan Option

Premium Payment Term

(years)

Policy Term

(years)
 
 
 

Endowment Option
 
 

8, 10 and 12
 
 

20
 
 
 

Moneyback Option

 

 
 
 

Age of the Life Insured at Entry (Age as on last birthday)
 
 

Minimum
 
 

30 days*

* In case the Life Insured is a minor, the Policy will automatically vest once the life insured attains the age of majority. The risk coverage for the minors will start from the Date of Commencement of Risk.
 

Maximum

Endowment & Moneyback Option: 45years
 
 

Maturity Age of the Life Insured (Age as on last birthday)
 
 

65 years

Minimum Annualized

Premium

Rs.15,000

 
 
 

Maximum Annualized Premium
 
 

Rs. 1,00,000

Maximum Sum Assured on Death

Rs. 25,00,000
 

Premium Payment Frequency and Frequency Loadings
 
 

Mode

Annual

Semi-annual

Quarterly

Monthly

Modal Loading
 
 

0%
 
 

2.0%
 
 

3.0%
 
 

4.0%

 

absli Nishchit Laabh Plan

Want Guaranteed Lumpsum Benefit?

Buy ABSLI Nishchit Laabh Now.
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What’s not Covered?

If the Life Insured dies by suicide within 12 months of the effective date of risk commencement or the date of revival of Policy, the Policy shall terminate immediately. In such cases, the Company shall pay higher of Surrender Value or (total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes) in case the Policy has acquired a surrender value; or Total Premiums Paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes in case the Policy has not acquired a surrender value.

How to initiate Claim?

3 quick steps, everything online.

  • Fill basic details
  • Claim intimation
  • Document submission
More About Claims

Frequently Asked Questions

Know more about Nishchit Laabh Plan in detail here:

What is ABSLI Nishchit Laabh Plan?
ABSLI Nishchit Laabh Plan is a non-linked non-participating individual life insurance savings plan that provides life insurance cover with guaranteed# lumpsum benefits, regular income, or moneyback benefit depending on your saving needs.
Are the Incomes payable during the Premium Paying Term under Income with Lumpsum Option?
No, the income is payable every policy year after the completion of the Premium Payment Term.
Can the Income Benefit Payout Frequency be changed during the Policy Term?
Yes, the chosen Income Benefit Payout Frequency can be changed during the policy term.
Does the Guaranteed Lumpsum Benefit vary?
Yes, Guaranteed# Lumpsum benefit varies according to the premium payment term and policy term chosen at inception of the policy.
Can the policyholder take a commuted value of all future income benefits in a lump-sum anytime during the Policy Term or Benefit Payout Period?
No, commutation of future income’s as lumpsum payout is not offered under this plan.
What is the minimum and maximum premium under the plan?
The minimum and maximum annualized premium is Rs. 15,000 and Rs. 1,00,000 respectively. The premium amount chosen will be payable every year for the premium paying term.
How are loyalty additions get paid out?
Endowment & Income with Lumpsum Option: Loyalty Addition shall be paid along with the guaranteed# lumpsum benefit on the date of maturity, provided all due premiums have been paid.

Moneyback Option: Loyalty Addition shall be paid at the end of every 5th policy year, along with the money back benefit payouts provided all due premiums have been paid.
Can the Death benefit be taken in instalments?
No, this plan does not offer instalment Option to the nominee.
When does the Policy acquire a Surrender Value?
Policy acquires a Surrender Value once premiums for at least two full policy years have been paid.
Is loan facility available under this plan?
Yes, policy loan is allowed once the policy acquires a surrender value. The minimum loan amount is Rs.5,000 and the maximum is up to 80% of surrender value.

We shall charge an interest on the outstanding loan balance at a rate declared by us on June 1st of every calendar year which is 1% plus the base rate of the State Bank of India. The interest rate applicable as on June 1st 2022 is 8.55% p.a. Any change in basis of determination of interest rate for policy loan can be done only after prior approval of the Authority.

Any outstanding loan balance (including unpaid interest) will be recovered by us from policy proceeds due for payment and will be deducted before any benefit is paid under the policy.

If the policy is in RPU and the loan balance equal or exceeds the then prevailing surrender value, policy will terminate immediately.

For inforce policies, ABSLI shall send a notice 90 days prior to give an opportunity to the policyholder to repay all or part of outstanding loan balance in order to continue policy uninterrupted. If he/she do not repay the loan or fail to respond to the notice, ABSLI shall have the right to foreclose the policy.
When will this policy terminate?
Policy will get terminated on any of the following events:
  • The date of payment of Surrender Value under the policy; or
  • The date of settlement of Death Benefit; or
  • The date of payment of Maturity Benefit; or
  • The date on expiry of the Revival Period after the Policy has lapsed as per Premium Discontinuance provision; or
  • The date on which the outstanding loan amount exceeds the surrender value
  • The date of payment of free look cancellation amount.
What application form is required for ABSLI Nishchit Laabh Plan?
The “Common Application Form MAJOR” and “Common Application Form MINOR” would be used for this plan. The form will be duly uploaded in BSMS from where the same can be downloaded.
Can Life Insured and Policyholder be different under this plan?
Yes, the Life Insured and Policyholder can be different under this plan. In case Policyholder and the Life Insured are different then all the proceeds for the policy will be paid to the Policyholder. Where the Life Insured (whether major or minor) and Proposer/Policyholder is different, on the death of the Proposer/Policyholder, his legal heirs, in accordance with the existing succession laws, will be considered as new Proposer/Policyholder. As there is no death benefit payable on the death of the Proposer/Policyholder, the policy status does not change, and the policy continues. However, if the premiums are not paid before the expiry of the grace period the policy would be subject to the provisions mentioned in the ‘Premium Discontinuance Section’.
Does this plan also include auto-vesting functionality for minor lives?
Yes, where a policy is issued on a minor life, the policy will vest after attainment of majority (age 18 years) of the Life Insured.
Are NRI/ FINO allowed under this plan?
NRI is allowed.
FNIO allowed (however client has to be in India)
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  • Disclaimer

    #Provided all due premiums are paid
    1ABSLI Nishchit Laabh Plan, Policy holder age :35 years chooses endowment option and pays annualized premium of INR 50,000. He chooses PPT – 8 yrs, PT – 25 yrs. He receives Guaranteed lumpsum benefit of ₹ 7,00,000 and loyalty addition of ₹4,00,000.

    This is a non-linked non-participating individual savings life insurance plan.
    This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI).
    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 substandard lives, smokers or people having hazardous occupations etc.
    This brochure contains only the salient features of the plan. For further details, please refer to the policy contract.
    This product shall also be available for sales through online channel.
    Tax benefits may be available as per prevailing 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.
    All policy benefits are subject to policy being in force.
    “We”, “Us”, “Our” or “the Company” or “ABSLI” means Aditya Birla Sun Life Insurance Company Limited.
    “You” or “Your” means the Policyholder.
    Policyholder and Life Insured can be different under this product. In all situations, it is ensured that the Policyholder has an insurable interest in the Life Insured.
    For other terms and conditions, request Your Agent Advisor or intermediaries for giving a detailed presentation of the product before concluding the sale. Should you need any further information from us, please contact us on the below mentioned address and numbers.(UIN: 109N150V02) ADV/6/23-24/856