Key Features
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Return of Premium Allocation Charge & Mortality Charge
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Systematic Withdrawal Facility to enable regular withdrawals
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Wealth Boosters and Loyalty Additions
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Choice of 5 Investment Strategies and 16 Funds
Plan Options
Choose between the 2 plan options at inception. The benefit to be paid to the nominee/policyholder in case of unfortunate death of life insured during the policy term
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Classic Option
Sum Assured plus Policy Fund Value.
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Assured Option
Sum Assured plus Policy Fund Value. Additionally on the occurrence of any Critical Illness or Total Permanent Disability the policy will continue till maturity and all the future installment premiums shall be paid by us on the premium due dates in the fund value.
Investment Options
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Smart Investment Option
This option allows us to manage and administer your investment portfolio on your behalf and according to your risk profile.
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Systematic Transfer Investment Option
This option helps mitigate any risk arising from market volatility and averages out the risks associated with the equity market.
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Return Optimiser Investment Option
This option enables you to take advantage of the equity market, protect your gains from the future market volatility and create a more stable sequencing of investment returns.
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Self-Managed Investment Option
You decide how to invest your money amongst our 16 segregated funds.
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Guaranteed Additions
You are rewarded for policy continuance in the form of additional units. Please refer product brochure for details.
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Death Benefit
For both variants, In case of the life insured’s unfortunate demise during the policy term, the death benefit will be payable the nominee. Death benefit is higher of:
a) Fund value on date of intimation of death
b) Sum Assured (reduced by partial withdrawals made during the two years immediately preceding the date of death of the Life Insured, if any); or
c) 105% of the Total Annualized Premiums/Single Premium received till the date of death of the Life Insured (reduced by all partial withdrawals made during the two years immediately preceding the date of death of the Life Insured, if any)
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Waiver of Premium on Critical Illness
In case of the life insured suffering from any of the specified Critical Illnesses (CI) or Total and Permanent Disability (TPD) during the Policy Term (described in detail in the brochure), all future premiums, if any, shall be paid by the Company. This benefit is only applicable if you have chosen Assured Option.
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Maturity Benefit
On survival of life insured up to end of Policy Term, the fund value shall be paid out in lump sum or as a structured payout using Settlement Option, provided all due premiums have been paid. In addition to the fund value, premium allocation charge and mortality charge will be returned and are added as additional units to the fund value.
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Surrender Benefit
In case of emergencies, you can surrender your policy to us at any time during the Policy Term. Any such surrender will be treated according to the provisions mentioned in Policy Discontinuance section.
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Customisable Benefits
For added protection, the policy can be enhanced by the following riders for a nominal extra cost:
- ABSLI Accidental Death Benefit Rider Plus (109A024V01)
- ABSLI Waiver of Premium Rider (UIN: 109A039V01)
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Entry Age (age last birthday)
Classic Option Assured Option 30 days* to 55 years
18 to 50 years
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Maturity Age
Classic Option Assured Option 18 to 75 years
33 to 65 years
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Premium Paying Term
Policy term^ Premium Paying Term (PPT) 15 10 15 - 20/25/30/35 10 15 20 -
Basic Premium
Minimum Rs. 24,000 p.a.
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Basic Sum Assured
Minimum Rs. 2,40,000 p.a.
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Top-up Premium
Minimum Rs. 5,000
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Pay Mode
Annual, Semi-annual, Quarterly & Monthly
*Risk commences from the first policy anniversary
^policy term of 15 years is not available to entry ages below 3 years
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Riders
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ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)
Get additional protection for accident leading to death at a nominal cost.
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ABSLI Waiver of Premium Rider (UIN: 109B017V02)
All future premiums waived in case of permanent disability, death or 4 specified major illness
Frequently Asked Questions
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Why should I buy this plan?
- Long-term wealth creation and risk cover against death, critical illness and disability
- Benefits of MNC fund for the first time in your ULIP portfolio
- Flexibility to choose between 4 investment options to suit your needs
- Flexibility to choose between Classic and Assured plan options
- Avail tax benefits u/s 80C & 10(10D)(1)
1Tax benefits are subject to changes in tax laws
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Can I purchase this plan offline?
Yes, you can purchase ABSLI Wealth Assure Plus offline also.
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Can I change my nominee afterwards?
Nomination can be changed at any time before policy matures, by an endorsement or a will. You are required to fill up a change of nomination form and submit it. Once the KYC verification is done the change in nomination is registered and confirmation will be sent to you. However, it is advisable that you decide upon the nominee and not change unless necessary.
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What are the prime benefits with this plan?
Prime benefits of this plan are –
- Dual benefit of life insurance protection and savings through a wide range of fund options
- Option to increase protection through waiver of premium in case of critical illness or total permanent disability
- Boost your savings through regular premiums
- Flexibility to choose between 4 investment options to suit your needs
- Flexibility to add top-ups whenever you have additional savings
- Flexibility of partial withdrawals to meet any emergency fund requirements
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What it the eligibility criteria for this plan?
Eligibility criteria Classic Option Assured Option Entry Age (age last birthday) 30 days* to 55 years 18 to 50 years Maturity Age 18 to 75 years 33 to 65 years Premium Paying Term (PPT) Policy term Premium Paying Term (PPT) 15 10 15 - 20/25/30/35 10 15 20
Basic Premium Minimum Rs. 24,000 p.a.
Basic Sum Assured
Minimum Rs. 2,40,000 p.a.
Top-up Premium
Minimum Rs. 5,000 Pay Mode
Annual, Semi-annual, Quarterly & Monthly
*Risk commences from the first policy anniversary
^policy term of 15 years is not available to entry ages below 3 years
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Is there any taxation benefit for this plan?
As per extant tax laws and section 80C and 10(10D) of Income Tax Act, 1961, this plan offers tax benefits1.
1Tax benefits are subject to changes in the tax laws. Please consult your tax advisor.
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Is it an individual plan or a family plan?
This is an individual plan.
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Where is the medical test conducted for this plan?
Before the issuance of the plan, basis your medical history and sum assured, a medical test may be conducted at a diagnostic centre of your choice inside India.
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Disclaimer
The linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year from inception.
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating unit linked life insurance plan. Aditya Birla Sun Life Insurance and ABSLI Wealth Assure 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 Past performance of the Unit linked fund(s) of the company is not necessarily indicative of the future performance of any of these Unit linked fund(s). The charges are guaranteed throughout the term of the policy unless specifically mentioned and subject to IRDAI approval. The value of the segregated 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 non - participating 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 segregated fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. There is no guarantee or assurance of returns above the guaranteed returns from the segregated funds. Goods and Service Tax 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. The insurance cover will commence on the later of (i) date of acceptance of risk by the Company and (ii) date of realisation of premium by the Company. For further details please refer to the policy contract. Tax benefits are subject to changes in the tax laws. For more details on the risk factors, terms and conditions please read the sales brochure carefully before concluding the sale. Aditya Birla Sun Life Insurance Company Limited Registered Office: One World Center Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. Toll free no. 1800-270-7000 www.adityabirlasunlifeinsurance.com IRDAI Reg. No. 109. CIN: U99999MH2000PLC128110 VER1/NOV/2019 UIN: 109L120V02
ADV/9/20-21/1065
