ABSLI Wealth Smart Plus

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.

Yes, Premium Redirection is allowed if Self-Managed Investment Option/Systematic Transfer Option is opted. In case of Self-Managed option, the policyholder can opt to redirect future premiums by giving a written request and specifying percentage allocation amongst available 20 fund options. In case of Systematic Transfer Option, the policyholder can opt to redirect future premiums by giving a written request and specifying percentage allocation amongst available 4 fund options. Premium Redirection is not available under Systematic Transfer Option when the funds are in Liquid Plus fund. A maximum of 12 Premium Redirections are allowed in a policy year and all are free of charge.

Example: Let us say Policyholder allocated 40% of the money to debt and 60% to equity. With a fund switch, Policyholder now wants 80% of investment in equity, so the fund manager will move 20 percent of the money from debt to equity. The interest rates are expected to fall in the coming time. So, Policyholder wants to capture the opportunity of making higher returns in the debt market. So, Policyholder can instruct to redirect 60% of the premiums towards debt. As a result, all the future premiums of the policy will be invested 60% in debt and 40% in equity. Policyholder’s existing units, meanwhile, will not be shifted into a debt fund.

Yes, Fund switch is allowed if Self-Managed Investment Option/Systematic Transfer Option is opted, Policyholder can choose to switch from one fund to another provided the switched amount is at least Rs. 5,000. There is no limit on the number of switches that can be exercised in a policy year and all switches are free of charge. Important notes:-

• Switches are allowed during the settlement period.
• Switches are allowed in case the policy acquires reduced paid up status post lock in period.
• Switches shall not be allowed during the period of discontinuance in first five years of the policy.
• Switches is not available under Systematic Transfer Option when the funds are in Liquid Plus fund.

Yes, to meet financial exigencies during the Policy Term, Policyholder will have an option to make partial withdrawal from the fund value without any charges. Important Notes:-

• The minimum amount of partial withdrawal is Rs. 5,000.
• Partial Withdrawals are allowed any time after five complete policy years or Life Insured attaining the age of 18 whichever is later.
• Policyholder is required to maintain a minimum Fund Value of one Annualized Premium chosen and maximum of 25% of the Fund Value.
• The total amount of partial withdrawal during a policy year shall not exceed 50% of the Fund Value at the time of partial withdrawal(s). It is set to ensure that it does not result in termination of the policy.
• Partial withdrawal cannot be exercised during the period of Policy Discontinuance and Settlement Period.

Yes, with this plan Policyholder can opt for Systematic Withdrawal Facility (SWF), which is an automated partial withdrawal facility.Conditions applicable for Partial Withdrawals will be applicable for Systematic Withdrawal Facility.

Policyholder should opt for this facility as it will provide liquidity at pre-defined period which can be used for managing regular expenses for young to middle aged customers or can be utilized as retirement income for retired segment of customer.

Systematic Withdrawal Facility (SWF) can be opted by anytime during the policy term. Policyholder will have to choose the following:

• Systematic Withdrawal Percentage (5% or 10% of Fund Value at the end of the year) p.a.
• Payout frequency (annual, semi-annual, quarterly or monthly). The payouts shall be done at the end of the month, quarter, half-year or year.
• Policy year from which the Systematic Withdrawal Facility will be payable.

Important notes:-

• Once opted, it will start after policy has completed 5 policy years will be paid till the end of the Policy Term, provided the attained age of the Policyholder is 18 years or above.
• This option will not be allowed during the period of discontinuance and the settlement period.
• Policyholder may opt-in or opt-out of the Systematic Withdrawal Facility anytime during the Policy Term.
• Policyholder can change the Systematic Withdrawal Percentage, and payout frequency anytime during the Policy Term.
• Partial Withdrawal can be availed along with SWF.
• The Sum Assured will be reduced to the extent of the partial withdrawals made during the two-year period immediately preceding the death of the Life Insured from the Fund Value.