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Aditya Birla Sun Life Insurance Company Limited
Aditya Birla Sun Life Insurance Company Limited
Why Buy ABSLI Wealth Smart Plus?
Key Features:
Two Plan Options – Smart Life Option (coverage till Age 75) and Whole Life Option (coverage till Age 100)
Zero Premium Allocation Charge and Zero Policy Administration Charge throughout Policy Term
Choice of 5 investment strategies and 20 funds to suit your varied investment needs.
Systematic Withdrawal Facility to enable regular withdrawals from your Fund Value during the policy term to cater to your recurring monetary needs
Flexibility of partial withdrawals to meet any emergency fund requirements.
Tax Benefits may be applicable on Premiums paid and Benefits received as per prevailing tax laws.
Benefits Of ABSLI Wealth Smart Plus
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:
Maturity Benefit
On survival of Life Insured up to the end of the Policy Term and provided all due premiums
Riders
For added protection, you can enhance your risk coverage during the Policy Term by adding following riders at a nominal extra cost.
How Does ABSLI Wealth Secure Plan Work?
Use Case 1
Use Case 2
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
|
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 |
How To Initiate Claim?
3 quick, everything online
1
Fill basic details
2
Claim intimation
3
Document submission
Frequently Asked Questions
Know more about ABSLI Wealth Smart Plus in detail here:
Top-ups are not allowed under this plan.
No, the Policyholder will not have the flexibility to increase or decrease the Premium Payment Term or policy term under this plan.
No, the Policyholder will not have the flexibility to increase or decrease the Premium / SA under this plan.
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.
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.
- 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.
- An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc.
- This prospectus 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: 109L147V02
ADV/10/25-26/1118
