ABSLI Assured FlexiSavings Plan

ABSLI Param Suraksha

IN THIS ULIP POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
IN THIS ULIP POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
Choice of Life Insurance Cover as high as 30X$
Systematic withdrawal facility

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Give ₹5 lakhs/year for 6 years
Get ₹ 84.53 lakhs at @8% return & ₹ 42.37 lakhs @4% return at maturity1.
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Why buy ABSLI Param Suraksha?

ABSLI Param Suraksha is a unit-linked non-participating individual life insurance savings plan. It offers the dual advantage of a robust term plan cover that protects your loved ones and the growth opportunities of a ULIP plan. Whether you're planning for your child's education, your dream retirement, or any significant life milestone, our comprehensive financial solution, ABSLI Param Suraksha is designed to support and empower you every step of the way.

Key Features:
  • iconbullet Choice of Life insurance cover as high as 30X basis the Age and PT chosen at policy inception.
  • iconbullet Return of 2X Premium Allocation Charges from end of 10th year to 13th year to boost your Fund Value.
  • iconbullet Return of 2X Mortality Charges from 11th policy year till the end of policy term.
  • iconbullet Systematic Withdrawal Facility to enable regular withdrawals from your Fund Value during the policy term to cater to your recurring monetary needs.
  • iconbullet Choice of 5 investment strategies and 19 funds to suit your varied investment needs.
  • iconbullet Tax Benefits may be applicable on Premiums paid and Benefits received as per prevailing tax laws.
Brochure Leaflet Policy Contract

Benefits of ABSLI Param Suraksha

Death Benefit
Death Benefit
If the policy is in-force:
In case of Death of the Life Insured anytime during the Policy Term, while the policy is in-force, we will pay to the nominee/legal heir higher of:
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Death Benefit
Maturity Benefit
When the policy matures upon Life Insured surviving up to the end of the Policy Term, the Policyholder will receive the Fund Value as a lumpsum, unless the policyholder has opted for settlement option.

Provided that the policy is in-force, i.e. all due premiums have been received, the allocation charge and the Mortality Charge collected, excluding GST, over the Policy Term are returned to the Policyholder. If a policy becomes reduced paid-up, then it will not be eligible for future return of charges.
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Return of Charges
Return of 2X Premium Allocation Charge:
2 times the total Premium Allocation Charges (excluding taxes) collected, shall be added back in the form of allocation of extra units in the fund. The addition will happen at the end of each of the years between 10 to 13 years.

Return of 2X Mortality Charges:
The product offers a return of 2 times the mortality charges starting from policy year 11. The addition is in the form of extra units in the fund.
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Riders

For added protection, you can enhance your risk coverage during the Policy Term by adding following riders at a nominal extra cost.

ABSLI Accidental Death Benefit Rider Plus
ABSLI Accidental Death Benefit Rider Plus
UIN: 109A024V01
In the unfortunate event of death of the Life Insured due to an Accident within 180 days of occurrence of the accident, we will pay 100% of the rider sum assured to the nominee. Also, we will refund the premiums collected after the date of Accident till date of death, with interest as declared by us from time to time, along with death benefit payable.
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ABSLI Waiver of Premium Rider
ABSLI Waiver of Premium Rider
UIN: 109A039V01
In case of the following conditions
  • Life insured becomes completely disabled due to an illness or accident
  • Life insured is diagnosed with any of the specified critical illnesses
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ABSLI Accidental Death Benefit Rider Plus
UIN: 109A041V01
In the unfortunate event that the life insured is diagnosed to be suffering from critical illnesses as mentioned in the Rider brochure, as per the variant, rider Sum Assured is paid in lumpsum as per the conditions mentioned in the rider brochure. This rider offers 3 variants: Silver Variant covers 10 CIs, Gold Variant covers 25 CIs and Platinum Variant covers 64 CIs .
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Eligibility criteria & specifications:

Product Specifications

Type of Plan

A Unit-Linked Non-Participating Individual Life Insurance Savings Plan

Coverage

All Individuals (Male | Female | Transgender)

Minimum Entry Age  (age as on last birthday)

18 Years

Maximum Entry Age (age as on last birthday)

 50 years

Maximum Maturity Age (age as on last birthday)

75 years

Minimum Premium

Rs. 1,00,000

Maximum Premium

No Limit (subject to Board Approved Underwriting Policy)

Minimum Sum Assured

 Rs. 7,00,000

Maximum Sum Assured

No Limit (subject to Board Approved Underwriting Policy)

Premium Payment Term (PPT)

6 | 8 | 10 | 12 Years

Policy Term (PT)

15 | 20 | 25 | 26 | 27 | 28 | 29 | 30 Years

Premium Payment Mode

Annual

How does ABSLI Param Suraksha Work?

  • Mr. Varma aged 35 years purchases ABSLI Param Suraksha with the details as given below:
  • He chooses Premium as his starting input point. Annualized Premium: Rs. 1,00,000 | Sum Assured: Rs. 30,00,000 | Sum Assured Multiple: 30X | Premium Payment Term: 12 years | Policy Term: 30 years | Investment Option: Self-Managed Option | Fund Chosen: Nifty Alpha 50 Index Fund | Premium Payment Mode: Annual
  • Mr. Varmasurvives the entire policy term. Return of charges will be added back to the fund value in the form of additional units.
View Illustration
  • Mr. Varma aged 35 years purchases ABSLI Param Suraksha with the details as given below:
  • He chooses Premium as his starting input point. Annualized Premium: Rs. 1,00,000 | Sum Assured: Rs. 30,00,000 | Sum Assured Multiple: 30X | | Premium Payment Term: 12 years | Policy Term: 30 years | Investment Option: Self-Managed Option | Fund Chosen: Nifty Alpha 50 Index Fund | Premium Payment Mode: Annual
  • Unfortunately Mr. Varma dies in the 5th policy year. The death benefit will be calculated as mentioned below
View Illustration
  • Mr. Varma aged 35 years purchases ABSLI Param Suraksha along with ABSLI Comprehensive Critical Illness Rider, ABSLI Accidental Death Benefit Plus Rider.
  • Sum Assured: Rs. 30,00,000 | Sum Assured Multiple: 30X | Annualized Premium: Rs. 1,00,000 | Premium Payment Term: 12 years | Policy Term: 30 years | Investment Option: Self-Managed Option | Fund Chosen: Nifty Alpha 50 Index Fund | Premium Payment Mode: Annual
  • CCI Rider Variant: Platinum | CCI Rider Sum Assured: Rs. 30,00,000
  • ADB Plus Rider Sum Assured: Rs. 30,00,000
  • Mr. Varma is diagnosed with Critical illness in the 6th policy year.
    On diagnosis of CI, 100% of Rider Sum Assured i.e., Rs. 30,00,000 in this case is paid to him and CCI rider is terminated. The base policy along with ADB Plus Rider continues as is and on Policy maturity, Maturity Benefit is paid to Mr. Varma.
View Illustration
  • Mr. Varma aged 35 years purchases ABSLI Param Suraksha along with ABSLI Comprehensive Critical Illness Rider, ABSLI Accidental Death Benefit Plus Rider.
  • Sum Assured: Rs. 30,00,000 | Sum Assured Multiple: 30X | Annualized Premium: Rs. 1,00,000 | Premium Payment Term: 12 years | Policy Term: 30 years | Investment Option: Self-Managed Option | Fund Chosen: Nifty Alpha 50 Index Fund | Premium Payment Mode: Annual
  • CCI Rider Variant: Platinum | CCI Rider Sum Assured: Rs. 30,00,000
  • ADB Plus Rider Sum Assured: Rs. 30,00,000
  • Mr. Varma dies due to accident in the 5th Policy Year.
    On death, Mr. Varma’s nominee/legal heir(s) receives Rs. 30,00,000 as Death Benefit of the base plan along with Rs. 30,00,000 as rider Sum Assured. So, they receive a total of Rs. 60,00,000 on Mr. Varma’s death.
View Illustration
  • Mr. Varma aged 35 years purchases ABSLI Param Suraksha along with ABSLI Comprehensive Critical Illness Rider, ABSLI Accidental Death Benefit Plus Rider & ABSLI Waiver of Premium Rider.
  • Sum Assured: Rs. 30,00,000 | Sum Assured Multiple: 30X | Annualized Premium: Rs. 1,00,000 | Premium Payment Term: 12 years | Policy Term: 30 years | Investment Option: Self-Managed Option | Fund Chosen: Nifty Alpha 50 Index Fund | Premium Payment Mode: Annual
  • CCI Rider Variant: Platinum | CCI Rider Sum Assured: Rs. 30,00,000
  • ADB Plus Rider Sum Assured: Rs. 30,00,000
  • Waiver of Premium Rider is opted.
  • On diagnosis of CI, 100% of Rider Sum Assured i.e., Rs. 30,00,000 in this case is paid to him and CCI rider is terminated. Waiver of Premium rider is triggered & all the future due premiums is paid by the company. The base policy along with ADB Plus Rider continues and on Policy maturity, Maturity Benefit is paid to Mr. Varma.
View Illustration

Suicide Exclusion

In case of death due to suicide within 12 months from the date of commencement of the policy or from the date of revival of the policy, as applicable, the nominee or the beneficiary of the Policyholder shall be entitled to the Fund Value, as available on the date of intimation of death.
Further any charges other than Fund Management Charges (FMC) recovered subsequent to the date of death shall be added back to the Fund Value as available on the date of intimation of death.

How to Claim Online?

3 quick, everything online

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

Frequently Asked Questions

What is ABSLI Param Suraksha?
ABSLI Param Suraksha is a unit linked, non-participating insurance plan is an exclusive solution tailored for all individuals which provides protection of a term plan and growth potential of a ULIP. This plan grows your wealth through market linked returns along with providing ample protection to your loved ones with Life Insurance cover for as high as 30X.
Are all individuals eligible for this plan?
Yes, all individuals with minimum Annual Income of Rs. 5,00,000 are eligible for this plan.
Can anyone change the Premium Payment Term during the Policy Term?
No, the Policyholder will not have the flexibility to increase or decrease the Premium Payment Term under this plan.
How many investment strategies are available under this plan?
This plan offers 5 investment strategies for the policyholders to choose according to their goals & risk appetite. Investment strategies as follows:-
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i. Systematic Transfer Investment Option is an option for individuals who would like to eliminate the need to time one’s investments in the market.-
ii. Return Optimiser Investment Option is an option for individuals who would like to have optimal participation in the capital markets while safeguarding their returns from any market related volatilities.-
iii. Self-Managed Investment Option is an option for individuals who would like to have complete control over their investment.-
iv. Smart Investment Option is an option for individuals who would like to take care of ever-changing financial needs as per their increasing age.-
v. Life Cycle Investment Option is an option for individuals who would like to create an ideal balance between equity and debt, based on their age.
Can Policyholder change investment strategy during the Policy Term?
Yes, Policyholder can switch between different investment strategies any time after first policy year during the policy term. Policyholder can give Us a written notice to exercise this option. Upon exercising the option to change the Investment strategy, all Instalment Premiums will be allocated per the new Investment strategy from the date of such change confirmed in writing by Us. The existing Fund Value will be allocated per the new Investment Option.
Can Policyholder change risk profile during the Policy Term?
Risk Profile Switching is applicable only under Smart Investment & Life Cycle Investment Option where the policyholder can switch to a different risk profile, free of charge, at any time during the policy term. The fund is automatically rebalanced after the Risk Profile Switch, according to the applicable percentages under the Smart Investment & Life Cycle Investment option at that time. All Annualized Premiums paid from that point onwards will be invested in Maximiser and Income Advantage based on the new risk profile.
If Policyholder changes investment strategy how will premium be invested?
If Policyholder changes the investment option, existing fund value will be allocated to the new investment strategy from the date of change and all the future premiums will be allocated as per the new investment strategy.
Can Policyholder choose to reduce the premium amount during the Premium Payment Term?
Yes, Policyholder has this flexibility to reduce future premium commitment to take care of other financial needs at that point of time. Policyholder can reduce premium amount up to 50% of the original Annualized Premium, subject to minimum premium limit, provided all due premiums have been paid. Reduction in premium is allowed subject to following conditions:-
  • It can be opted only once during the term of the contract, and premium once reduced cannot be subsequently increased
  • Sum Assured will be reduced by the same proportion as the reduction in premium.
  • The rider attached to the policy (if any) shall lapse if the Reduction of Premium option is chosen.
  • Charges & the benefits will be applicable as per the new reduced Sum Assured and new reduced premium, wherever applicable.
What is Settlement option?
Settlement Option is a facility which allows Policyholder to receive fund value at maturity in periodic installments and stay invested in the policy for an extended period up to 5 years.
How does the settlement option work?
Policyholder will have to intimate Us at least fifteen (15) days prior to the maturity date opt for a Settlement Option. Once opted, the policy will continue after the maturity date for a period not exceeding five (5) years from the maturity date. Policyholder will have the flexibility to avail fund value in periodic installment up to 5 years and in frequency of monthly, quarterly, semi-annual or annual payouts. Under settlement option, the balance number of units in the fund at the start of the settlement period will be divided in equal instalments for payout over the settlement period. The first instalment under Settlement Option is paid on the date of maturity. The policyholder shall continue to bear all investment risks. Units will be cancelled at the prevailing NAV to make periodic payments of the Fund Value. During the settlement period, Partial Withdrawal is not allowed, however, Fund Switches is allowed.
At any time, Policyholder may opt out of the settlement option and we shall close the Unit Account on the date of receipt of such request and pay the prevailing Fund Value.
Are loans available with the plan?
No, policy loans are not available with this plan.
Can I avail of tax benefits under this plan? What are the benefits available?
You are advised to consult your tax advisor for details regarding taxation.
How long will policy continue?
Policy will terminate at the earliest of:

• the date when there is complete withdrawal as per the Policy Discontinuance Provision; or
• the date when the Fund Value becomes zero; or
• the date of settlement of the Death Benefit; or
• the date when the Surrender Benefit is paid; or
• the date when the Maturity Benefit is paid; or
the date of payment of free-look cancellation amount.
Which application form is to be used for this plan?
Since the minimum entry age under this plan is 18 years, the “Common Application Form_MAJOR” would be used for this plan.
Can life insured and policyholder/proposer be different under this plan?
Yes, proposer/policyholder can be different from the Life Insured under the plan for the cases where WOP Rider is not selected. In case the proposer and the life insured are different then all the proceeds for the policy will be paid to the proposer.
For cases, where WOP Rider is selected, the life insured and the proposer has to be the same.
Can this plan be sold to NRIs?
Yes, this policy can be sold to the NRIs. Policies will be sold to the NRIs without the WOP Rider. Only ADB Plus rider and Comprehensive Critical Illness Rider are attached as an mandate to these policies.
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  • Disclaimer

    $ Basis age and PT chosen at policy inception
    1 Male | Age: 35 Years | Sum Assured: Rs. 1,00,00,000 | Sum Assured Multiple: 20X | Annualized Premium: Rs. 5,00,000 | Premium Payment Term: 6 years | Policy Term: 20 years | Investment Option: Self-Managed Option | Fund Chosen: Nifty Alpha 50 Index Fund | Premium Payment Mode: Annual | Comprehensive Critical Illness Rider: Platinum Variant (64 CIs) | Comprehensive Critical Illness Rider Sum Assured: 100% of Base Sum Assured: Rs. 1,00,00,000 | Comprehensive Critical Illness Rider Premium: Rs. 1,27,400 | Accidental Death Benefit Plus Rider Sum Assured: Rs. 1,00,00,000 | Accidental Death Benefit Rider Plus Premium: Rs. 13,800 | Waiver of Premium Rider: Rs. 18,723.

    - This is a unit-linked non-participating individual life insurance savings plan.
    - This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI).
    - Aditya Birla Sun Life Insurance and ABSLI Param Suraksha are only the names of the Company and Policy respectively and do not in any way indicate their quality, future prospects or returns.
    - The name of the funds offered in this plan does not in any indicate their quality, future prospects or returns.
    - The value of the fund reflects the value of the underlying investments. These investments are subject to market risks and change in fundamentals such as tax rates etc affecting the investment portfolio. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document.
    - The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of fund and factors influencing the capital market and the policyholder is responsible for his/her decisions.
    - GST and any other applicable taxes levied as per extant tax laws shall be deducted from the premium or from the allotted units as applicable.
    - 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.
    - In the Unit Linked Policy, the investment risk in the investment portfolio is borne by the Policyholder.
    - 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.
    - “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.
    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.
    IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER Linked Life insurance products are different from the traditional life insurance products and are subject to the risk factors.
    Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to withdraw/surrender the monies invested in Linked Insurance Products completely or partially till the end of the fifth year from inception. Please know the associated risks and the applicable charges, from your insurance agent or the Intermediary or policy document.
    UIN: 109L149V01
    ADV/7/24-25/1162