ABSLI Assured FlexiSavings Plan

ABSLI Wealth Smart Plus

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
Zero Premium Allocation Charge and Zero Policy Administration Charge
Flexibility of partial withdrawals

Why buy ABSLI Wealth Smart Plus?

ABSLI Wealth Smart Plus, a unit-linked non-participating individual life insurance savings plan is more than just an insurance plan. It's a comprehensive solution tailored to meet a wide range of investment and protection needs. With a focus on providing intelligent investment options, this plan acts as a versatile tool for securing your financial future. ABSLI Wealth Smart Plus empowers you to strategically build wealth. Whether your goal is to generate a reliable income stream for retirement, fulfill your children's educational dreams, or achieve personal financial milestones, this plan offers the flexibility and features to support your aspirations.

Key Features:
  • iconbullet Two Plan Options – Smart Life Option (coverage till Age 75) and Whole Life Option (coverage till Age 100)
  • iconbullet Zero Premium Allocation Charge and Zero Policy Administration Charge throughout Policy Term
  • iconbullet Choice of 5 investment strategies and 19 funds to suit your varied investment needs.
  • iconbullet Systematic Withdrawal Facility to enable regular withdrawals from your Fund Value during the policy term to cater to your recurring monetary needs
  • iconbullet Flexibility of partial withdrawals to meet any emergency fund requirements.
  • iconbullet Tax Benefits may be applicable on Premiums paid and Benefits received as per prevailing tax laws.
Brochure Leaflet Policy Contract

Benefits of ABSLI Wealth Smart Plus

Death Benefit
Death Benefit
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
fullwidth
Death Benefit
Maturity Benefit
On survival of Life Insured up to the end of the Policy Term and provided all due premiums
fullwidth

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 aſter the date of Accident till date of death, with interest as declared by us from time to time, along with death benefit payable.
fullwidth
ABSLI Waiver of Premium Rider
ABSLI Waiver of Premium Rider
UIN: 109A039V01

We will fund all the future due premiums and all the other benefits will remain unaffected. This benefit is applicable only once during the entire premium paying term.

fullwidth

How does ABSLI Wealth Secure Plan Work?

  • Mr Sharma aged 35 years purchases ABSLI Wealth Smart Plus
  • Plan Option selected: Smart Life | Annualized Premium: Rs. 1,00,000 | Premium Payment Term: 5 years | Policy Term: 20 years | Investment Option: Self-Managed Option | Fund Chosen: Nifty Alpha 50 Index Fund | Premium Payment Mode: Annual | Sum Assured: Rs. 10,00,000
  • Mr Sharma survives the entire policy term
View Illustration
  • Mr. Sharma aged 35 years purchases ABSLI Wealth Smart Plus
  • Plan Option Chosen: Whole Life Option | Annualized Premium: Rs. 1,00,000 | Premium Payment Term: 10 years | Policy Term: 65 years | Investment Option: Self-Managed Option | Fund Chosen: Nifty Alpha 50 Index Fund | Premium Payment Mode: Annual | Sum Assured: Rs. 10,00,000.
  • Mr. Sharma survives the entire policy term.
View Illustration
Eligibility criteria & specifications

Product Specifications

Type of Plan

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

Coverage

All Individuals (Male | Female | Transgender)

Entry Age (age as on last birthday)

Smart Life Option

Minimum – 30 days*

Maximum – 60 years

                      

Whole Life Option

Minimum -18 years

Maximum -For Limited Pay:

                    5 Pay: 40 years

                    6 Pay and above: 45 years

                    For Regular Pay:  45 years

Maturity Age (age as on last birthday)

Minimum:  18 years

Maximum: 75 years

 

                100 years (age last birthday)

 

 

Premium Payment Mode

Annual | Semi-Annual | Quarterly | Monthly

Minimum Premium

Rs. 12,000 p.a. if paid annually

Rs. 6,000 p.a. if paid semi-annually

Rs. 3,000 p.a. if paid quarterly

Rs. 1,000 p.a. if paid monthly

Maximum Premium

No Limit (subject to Board Approved Underwriting Policy)

Minimum Sum Assured

For Entry Age: 30 days to 50 years: Rs.1,20,000

For Entry Age: 51 years and above: Rs 84,000

                      Rs 1,20,000

Maximum Sum Assured

No Limit (subject to Board Approved Underwriting Policy)

Premium Payment Term (PPT)

Limited Pay: 5 to 15 years

Regular Pay: 10 to 40 years

 

             Limited Pay: 5 to 15 years

Regular Pay: 100 minus Entry age

 

Minimum Policy Term

For Limited Pay (5 to 9 years): 10 years

For Limited Pay (10 to 15 years): PPT + 1

For Regular Pay: 10 years

 

100 minus Entry Age

Maximum Policy Term

40 years

100 minus Entry Age

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

Know more about ABSLI Wealth Smart Plus in detail here:

Are Top-ups allowed under this plan?
Top-ups are not allowed under this plan.
Can anyone change the Premium Payment Term or Policy Term during the Policy Term?
No, the Policyholder will not have the flexibility to increase or decrease the Premium Payment Term or policy term under this plan.
Can anyone increase/decrease Sum Assured or Premium during the Policy Term?
No, the Policyholder will not have the flexibility to increase or decrease the Premium / SA under this plan.
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.
Is Premium Redirection allowed under this plan?
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 19 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.
Can Policyholder switch fund during the Policy Term?
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.
Which is the new fund available under this plan
ABSLI Nifty Alpha 50 Index fund.
What is Nifty Alpha 50 Index Fund?
Objective: To provide capital appreciation by replicating the composition of the NIFTY Alpha 50 Index and to generate returns that are commensurate with the performance of the NIFTY Alpha 50 Index, subject to tracking errors. NIFTY Alpha 50 focuses on the performance of stocks with high alpha scores, which indicates their potential for outperforming the market
Strategy: To invest in all the equity shares that form part of the Nifty Alpha 50 Index in the same proportion as the Index (customized as per IRDAI regulatory limits). NIFTY Alpha 50 index tracks the performance of 50 stocks with the highest Alphas during the last one year. It is chosen from the top 300 companies by average free-float market capitalization and average daily turnover during the last six months. The weights of securities in the index are assigned based on the alpha values i.e. security with highest alpha in the index gets highest weight. The fund be rebalanced on a quarterly basis, using data from the six months ending on the last trading day of February, May, August, and November
Is it Compulsory to choose Nifty Alpha 50 Index Fund?
No. It is not compulsory to opt for NFO – new Fund Offering.
Does Policyholder have the option to withdraw funds during the Policy Term?
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.
Can Policyholder plan to make withdrawal in a systematic manner at periodical intervals?
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.
Why should someone opt for Systematic Withdrawal Facility (SWF)?
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.
How to opt for Systematic Withdrawal Facility (SWF)?
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.
SHOW ALL
HIDE
  • Disclaimer

    1 Mr. Sharma aged 35 years purchases ABSLI Wealth Smart Plus with the details as given below: Plan Option: Smart Life | Annualized Premium: Rs. 5,00,000 | Premium Payment Term: 5 years | Policy Term: 20 years | Investment Option: Self-Managed Option | Fund Chosen: Nifty Alpha 50 Index Fund | Premium Payment Mode: Annual | Sum Assured: Rs. 50,00,000.
    - 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 Wealth Smart Plus 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: 109L147V01
    ADV/6/24-25/605