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Aditya Birla Sun Life Insurance Company Limited

ABSLI UltimaTerm

A non-linked non – participating term insurance plan


To protect your family against future uncertainties and to ensure that their dreams are secured even when you are not around, we have introduced Aditya Birla Sun Life Insurance UltimaTerm, an affordable term plan. This plan protects you and your family’s needs and gives them the protection they truly deserve. It offers inbuilt terminal illness, enhanced protection at all key milestones of your life and is also easy on your pocket.

Key features

  • Option to enhance coverage at key milestones of your life
  • Inbuilt Terminal Illness Benefit
  • Long term insurance protection cover of up to 50 years
  • Multiple options to receive death benefit to meet your changing needs
  • Flexible premium paying terms
  • Enhance your insurance with appropriate riders

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.

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.

Total Premiums paid means total of all the premiums received, excluding any extra premium, any rider premium and taxes.

Absolute amount assured to be paid on death is the sum assured at inception of the policy and shall include any change in Sum Assured arising from the exercise of the Enhanced Life Stage Protection option.

In a scenario where Terminal Illness Benefit has already been paid in lumpsum, then the staggered death benefit will be calculated after deducting the Terminal illness benefit already paid.

In case the nominee would like to get a lumpsum instead of the staggered payout post exercising this option, a discounted value of the outstanding annual income shall be paid as lump sum subject to a minimum of the Death Benefit payable less annual income already paid. The discounted value currently shall be calculated using an interest rate of 6.60% per annum. This interest rate is subject to change in future with prior IRDAI approval.

Refer to product brochure for detailed description regarding this benefit.

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 in lump sum. During the survival of the Life Insured post the diagnosis of Terminal Illness the policyholder will not be liable to pay any future due premiums. On subsequent death of the Life Insured during the policy term, the Death Benefit payable shall be reduced by the amount of Terminal Illness Benefit already paid.

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

Your protection needs varies at different life stages 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 any fresh medical examination. This feature is available only for lives accepted at standard premium rates at inception of the policy, the policy is a regular pay policy where no rider benefit has been claimed and also the attained age of life insured is less than or equal to 50 years when exercising this option. This option has to be exercised within six months of relevant event. Future premiums shall be considered at the premium rate as applicable on the age at inception of the policy. 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.

You can choose to reduce the Sum Assured in future to the extent of Sum Assured increased under the Enhanced Lifestage Protection option. The reduction in Sum Assured will be effective from the policy anniversary falling immediately after the date of notification and the premium will be decreased at the same time. 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. The premium shall be decreased by the same amount as the premium was increased while exercising the Enhanced Life stage Protection option.

There is no maturity benefit payable under this plan.

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 Accidental Death Benefit Rider Plus (UIN:109C023V02)
You can opt for either ABSLI Accidental Death and Disability Rider or ABSLI Accidental Death Benefit Rider Plus in the same policy.

Please refer to detailed brochures on riders, consult your financial advisor or visit our website for further details.


Entry Age 18 to 65 years of age
Maximum Maturity Age 85 years
Premium Paying Term Limited Pay – 5 years | Regular Pay
Policy Term Limited Pay 10 to 50 years | Regular Pay 5 to 50 years
Premium Mode Annual | Semi-annual | Quarterly | Monthly
Sum Assured Min. Rs.1,00,00,000 Max. No Limit (subject to underwriting guidelines)

Arjun is 35 years old and pays annual premium of Rs.9,676/- (excl GST) with policy term of 30 years and premium paying term of 30 years with a Sum Assured of Rs.1 Cr

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Disclaimer

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked non – participating term insurance plan. All terms & conditions are guaranteed throughout the policy term. 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 leaflet contains only the salient features of the plan. For further details please refer to the brochure. 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. For more details on the risk factors, terms and conditions please read the sales brochure carefully before concludingthe sale. Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Registered Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI reg no.109 CIN: U99999MH2000PLC128110 ADV/11/19-20/1192 VER1/NOV/2019

UIN: 109N121V02

Toll free (Within India):

1800 270 7000

Outside India: :

+91 22 66917777

(Call charges apply)

Between 9 am to 9 pm, All 7 Days

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care.lifeinsurance@adityabirlacapital.com

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