ABSLI Fixed Maturity Plan

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Give ₹1 lakh for 6 years and get Guaranteed# Returns of ₹14.48 lacs¹.

Returns
Flexible Bonus Payouts
Wealth
Two options for benefit payouts
Financial security for the family
Tax Benefits*
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Endowment Plan

What is an Endowment Plan?

An endowment plan or endowment insurance policy is a life insurance product that combines savings and protection. It offers a guaranteed# sum assured in case of the policyholder's demise during the policy term or a maturity benefit if the policyholder survives until the end of the term. Endowment insurance plans aim to create a long-term corpus while providing life cover, making them an ideal investment option for individuals with long-term financial goals.

Why Should You Buy an Endowment Plan?

You should consider buying an endowment policy in India for the following reasons:

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Long-term savings:
Endowment plans encourage disciplined long-term savings, helping you accumulate a substantial corpus for your future financial needs such as retirement, children's education, or purchasing a home.
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Life cover:
Endowment plans provide life insurance cover, ensuring financial security for your dependents in case of your untimely demise during the policy term. The death benefit typically includes the sum assured and any accrued bonuses.
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Guaranteed# returns:
Endowment plans offer guaranteed# returns in the form of a sum assured, payable upon maturity or the policyholder's demise during the policy term. Some plans also provide guaranteed# additions or bonuses, enhancing the overall returns.
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Tax benefits*:
Premiums paid towards endowment policies are eligible for tax deductions under Section 80C of the Income Tax Act, up to ₹1.5 lakhs per year. The maturity proceeds or death benefits are tax-free under Section 10(10D)**, provided certain conditions are met.
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Low risk:
Endowment policies invest primarily in debt instruments, ensuring relatively low risk compared to market-linked investment options. This makes them suitable for conservative investors seeking guaranteed# returns, irrespective of market fluctuations.
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Flexibility:
Endowment plans offer various premium payment options, including regular, limited, or single premium payments, allowing you to choose the payment mode that best suits your financial situation.
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Additional riders:
You can enhance your endowment policy's coverage by adding optional riders, such as accidental death and disability, critical illness, or waiver of premium riders, catering to your specific needs and requirements.
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Peace of mind:
Overall, an endowment plan is a valuable financial planning tool that combines the benefits of life insurance, long-term savings, and tax advantages. By investing in an endowment plan, you can secure your financial future while protecting your loved ones from life's uncertainties. As a result of this, you can enjoy your peace of mind when it comes to taxes, long-term savings and even life insurance.

What are the Features of endowment life insurance policy?

In general Endowment plans have the following features:

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Guaranteed# Sum Assured:
Endowment policies provide a guaranteed# sum assured which is payable on the policyholder's demise during the policy term or as a maturity benefit if the policyholder survives until the end of the term.
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Policy Term:
Endowment policies have a fixed policy term, which can range from 10 to 30 years or more, depending on the chosen plan.
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Premium Payment:
Policyholders can choose between regular, limited, or single premium payment options.
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Loan Facility:
Some endowment plans can offer a loan facility, allowing policyholders to avail loans against the policy's surrender value.
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Bonus Additions:
Many endowment plans offer bonus additions, which are declared annually and added to the policy's maturity benefit.
Our Endowment Plans
ABSLI Assured Savings Plan
ABSLI Akshaya Plan
Whole Life Insurance with Cash Bonus.
Flexible Bonus Payouts
Two options for benefit payouts
Life Cover
Tax Benefits*
Get:
₹14.48 lacs¹
Give:
₹1 lakh for 6 years
ABSLI Vision MoneyBack Plus Plan
ABSLI Vision MoneyBack Plus Plan
Life Protection with regular income
ABSLI Vision MoneyBack Plus Plan
Guaranteed# survival benefit
ABSLI Vision MoneyBack Plus Plan
Regular income
ABSLI Vision MoneyBack Plus Plan
Enhanced Savings
ABSLI Vision MoneyBack Plus Plan
Customized pay-outs
ABSLI Vision LifeSecure Plan
ABSLI Vision LifeSecure Plan
Comprehensive life protection with long-term financial security
ABSLI Vision LifeSecure Plan
Minimum entry age 30 days
ABSLI Vision LifeSecure Plan
Life cover up to age 100
ABSLI Vision LifeSecure Plan
Regular bonus
ABSLI Vision LifeSecure Plan
Enhanced Savings
ABSLI Income Assured Plan
ABSLI Income Assured Plan
Guaranteed# Returns to fulfil future dreams
ABSLI Income Assured Plan
Receive monthly payouts
ABSLI Income Assured Plan
Guaranteed# Additions
ABSLI Income Assured Plan
Tax Benefit*
ABSLI Income Assured Plan
Short premium paying term of 5/7/10 years
Get:
₹8,50,000³
Give:
₹1,49,604/yr
ABSLI Jeevan Bachat Plan
ABSLI Jeevan Bachat Plan
Guaranteed# returns and Life cover worth 10 times of annual premium
ABSLI Jeevan Bachat Plan
Guaranteed# benefit on maturity/death
ABSLI Jeevan Bachat Plan
Guaranteed# additions till maturity
ABSLI Jeevan Bachat Plan
Inbuilt-accidental death benefit
ABSLI Jeevan Bachat Plan
No medical test
Get:
₹26,120⁵
Give Premium:
₹20,900 for 1 year
ABSLI Monthly Income Plan
ABSLI Monthly Income Plan
Monthly income benefit for independent retired life
ABSLI Monthly Income Plan
Financial protection
ABSLI Monthly Income Plan
Income for recurring needs
ABSLI Monthly Income Plan
Inbuilt accidental death benefit
ABSLI Monthly Income Plan
Bonus to boost savings
ABSLI Vision LifeIncome Plus Plan
ABSLI Vision LifeIncome Plus Plan
Comprehensive life cover plus guaranteed# regular income
ABSLI Vision LifeIncome Plus Plan
Whole life cover up to age 100
ABSLI Vision LifeIncome Plus Plan
Guaranteed# regular income
ABSLI Vision LifeIncome Plus Plan
Cash-in-hand option
ABSLI Vision LifeIncome Plus Plan
Flexible Bonus Payouts
ABSLI Vision Endowment Plus Plan
ABSLI Vision Endowment Plus Plan
Secured savings and financial protection for family
ABSLI Vision Endowment Plus Plan
Life Cover
ABSLI Vision Endowment Plus Plan
Sum assured on maturity
ABSLI Vision Endowment Plus Plan
Tax Benefit*
ABSLI Vision Endowment Plus Plan
Accrued Regular Bonus
Get:
₹3.07 lakhs⁴
Give:
₹31,502 for 7 years
ABSLI Assured Income Plus
ABSLI Vision LifeIncome Plan
Savings plan with whole life income
ABSLI Vision LifeIncome Plan
Minimum entry age 30 days
ABSLI Vision LifeIncome Plan
Income after retirement
ABSLI Vision LifeIncome Plan
Whole life cover
ABSLI Vision LifeIncome Plan
Lump-sum payout
Get:
₹50.30 lakhs @4% and ₹87.04 lakhs² @8% at maturity
Give for 8 years:
₹1.62 lakhs
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What are the Benefits of Endowment Policy?

An endowment savings plan can offer the following benefits:

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Long-term Wealth Accumulation:
Endowment policies promote long-term wealth accumulation by encouraging disciplined savings over an extended period.
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Dual Benefits:
These policies provide the dual benefits of insurance and investment, securing your family's financial future while helping you achieve your financial goals.
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Guaranteed# Returns:
Endowment policies promise to give the policyholder guaranteed# returns on the investment.
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Tax benefits*:
As per Section 80C of the Income Tax Act, premiums that have been paid for the endowment plans are eligible for tax deductions. Additionally, the maturity proceeds are tax-free under Section 10(10D)**.

What are the Types of Endowment Plans in India?

In India, there are two main types of endowment plans offered by insurance providers:

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Traditional Endowment Plans:
Traditional endowment plans offer a guaranteed# sum assured, along with bonuses or guaranteed# additions, payable either on maturity or the policyholder's demise during the policy term. These plans invest primarily in debt instruments, ensuring low risk and providing a guaranteed# return on investment.
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Unit-Linked Endowment Plans:
Unit-linked endowment plans (ULIPs) invest a portion of the premium in market-linked instruments, such as equities and debt securities, offering the potential for higher returns. ULIPs offer a combination of life insurance and investment, allowing policyholders to choose from various investment fund options based on their risk appetite and financial goals. The maturity benefit or death benefit is dependent on the policy's fund value, which fluctuates based on market performance. Insurance providers may offer different variations of these endowment plans, such as with-profit endowment plans, money-back endowment plans, and child endowment plans, catering to specific financial goals and requirements.
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Full/With Profit Endowment Plan:
When obtaining this kind of endowment life insurance policy, the policyholder receives a guaranteed# sum promised. However, if the business announces a bonus on the final payout, the sum could be higher. The policyholder in this kind of endowment life insurance policy can also receive a bonus sum upon his passing. The insured cash will be awarded to the candidate.
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Non-profit Endowment Plan:
The policyholder receives a guaranteed# addition in addition to the returns that are given under this form of endowment life insurance policy.
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Low-Cost Endowment Plan:
This kind of endowment life insurance coverage allows the policyholder to accrue assets that will be paid out over a certain length of time. The policyholder may consequently amass a sizable corpus that can be used to pay off the loan or write off the mortgages. Additionally, all benefits will be paid to the nominee in the event of the death of the policyholder.

What are the Factors to consider before buying an endowment plan?

By considering the following factors, you can select an endowment plan that aligns with your financial goals, risk appetite, and financial situation, providing comprehensive insurance and investment solutions while securing your financial future.

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Financial Goals:
You should assess your long-term financial goals, such as retirement, children's education, or purchasing a home, and choose an endowment plan that aligns with your financial objectives.
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Premium Payment Options:
Endowment plans offer various premium payment options, including regular, limited, and single premium payments. You should select a payment mode that best suits your financial situation and allows you to continue the policy without financial strain.
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Policy Tenure:
The policy tenure of endowment plans typically ranges from 10 to 30 years or more. You should select a policy term that aligns with your financial goals and offers adequate time to accumulate a substantial corpus.
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Guaranteed# Returns:
You should evaluate the policy's guaranteed# returns, including the sum assured and any accrued bonuses, and choose an endowment plan that provides a guaranteed# return on investment.
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Investment Options:
If you opt for a unit-linked endowment plan (ULIP), you should evaluate the investment fund options, their performance history, and associated risks, and choose a fund that aligns with your risk appetite and financial goals.
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Riders:
You should evaluate the additional riders offered with the policy, such as accidental death and disability, critical illness, or waiver of premium, and choose the ones that cater to your specific needs and requirements.
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Surrender Charges:
You should evaluate the policy's surrender charges, which may be applicable if you wish to surrender the policy before the completion of the minimum lockin period.
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Tax benefits*:
You should evaluate the tax benefits* that you can avail with the endowment plan, including tax deductions on premiums paid and tax-free maturity proceeds or death benefits, and choose a policy that provides optimal tax advantages.

What are the exclusions of an endowment plan?

Like all insurance policies, endowment plans also have certain exclusions. These exclusions may vary between insurers and specific plans. It is essential to review the policy terms and conditions carefully before purchasing an endowment plan to understand the exclusions and limitations of the policy. Some common exclusions of endowment plans include:

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Suicide:
If the policyholder commits suicide within a specified period (usually one year) from the policy inception or revival date, the nominee receives a limited payout, as specified in the policy terms and conditions.
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Participation in Hazardous Activities:
If the policyholder participates in hazardous activities, such as mountaineering, skydiving, or bungee jumping, the insurer may exclude or limit coverage for injuries or death resulting from such activities.
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Pre-existing Medical Conditions:
If the policyholder has a pre-existing medical condition, such as a chronic illness or a history of heart disease, the insurer may exclude or limit coverage related to the condition.
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Misrepresentation:
If the policyholder provides false or misleading information on the application form or during the underwriting process, the insurer may exclude or limit coverage related to the misrepresentation.

Who should buy the Endowment Policy?

Endowment policies are ideal for individuals seeking long-term savings and insurance solutions. These plans are well-suited for:
1. Young professionals looking to secure their financial future by building a substantial corpus over time.
2. Parents planning for their children's education and other future expenses.
3. Individuals seeking a guaranteed# return on their investment, irrespective of market fluctuations.
4. Those looking for tax-saving investment options under Section 80C of the Income Tax Act.

How does an Endowment Policy work?

An endowment policy works by offering a guaranteed# sum assured payable either upon the policyholder's demise during the policy term or as a maturity benefit if the policyholder survives until the end of the term. The policyholder pays regular, limited, or single premiums, which are invested by the insurer to generate returns. The policy may also offer bonuses or guaranteed# additions, which are added to the maturity benefit or death benefit.

In essence, an endowment policy combines the features of both life insurance and savings. The policy provides life cover, ensuring financial security for the dependents in case of the policyholder's untimely demise. Simultaneously, it encourages long-term savings by accumulating a corpus for the policyholder's future financial needs, such as retirement, children's education, or purchasing a home.

The maturity benefit received at the end of the policy term usually comprises the sum assured and any accrued bonuses, ensuring a guaranteed# return on the policyholder's investment. The policyholder also enjoys tax benefits* on the premiums paid and the maturity proceeds, as per the prevailing tax laws.

What are the Eligibility Criteria for Buying an Endowment Plan?

The qualifying requirements necessary to purchase an endowment plan can vary from one endowment plan to the next. However, the following are some of the general criteria:

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Age:
Depending on the plan, the lowest age to enrol is typically 18 years old, while the maximum age to enrol can range anywhere from 55 to 65 years old.
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Policy Term:
The length of the policy term varies from plan to plan, however, it usually lasts anywhere from 10 to 30 years or even longer.
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Premium Payment Term:
Depending on the plan, premium payment terms may include regular, restricted, or single payments.

What are the Documents Required for Buying an Endowment Plan?

To buy an endowment plan, you will need to submit the following documents:
1. Completed proposal form
2. Proof of age (birth certificate, passport, or Aadhaar card)
3. Proof of identity (Aadhaar card, PAN card, or passport)
4. Proof of address (Aadhaar card, passport, or utility bill)
5. Income proof (salary slips, income tax returns, or bank statements)
6. Passport-size photographs

What is the Complete Endowment Plan Claim Process?

To file a claim for an endowment plan, follow these steps:
1. Inform ABSLI about the claim by contacting their customer service or visiting a branch office.
2. Submit the necessary documents, such as the claim form, policy document, death certificate (in case of a death claim), and other relevant documents.
3. ABSLI will review the claim and, if approved, release the claim amount to the nominee or policyholder.

What are the Riders for life insurance endowment plan?

Riders are additional covers available at extra cost. These additional covers increase the scope of cover under the basic savings insurance. There are exclusions attached to the riders. Please refer rider brochure for more details

Why should you buy an endowment plan online?

Buying an endowment plan online offers several benefits, including:

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Convenience:
Buying an endowment plan online is convenient and time-saving, allowing you to purchase the policy from the comfort of your home or office, without visiting a physical branch or meeting with an agent.
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Wide Range of Options:
When you buy an endowment plan online, you have access to a wide range of plans offered by various insurance providers, allowing you to compare and choose the plan that best suits your financial goals and requirements.
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Cost-effective:
Online policies are often more cost-effective than policies purchased through agents or branches, as insurers save on operational costs and pass on the benefits to the policyholders in the form of lower premiums.
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Easy Documentation:
Online policies require minimal documentation, reducing the hassle of filling out lengthy application forms and submitting hard copies of documents.
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Instant Issuance:
Online policies are often issued instantly or within a few hours of completing the application process, ensuring immediate coverage and eliminating waiting periods.
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Transparency:
Buying an endowment plan online offers greater transparency, as insurers provide detailed information about the policy features, benefits, exclusions, and premiums, allowing you to make an informed decision.

Why should you add riders to your endowment plan?

Adding riders to your endowment plan offers several benefits, including:

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Enhanced Coverage:
Riders offer additional coverage beyond the base policy, catering to specific needs and requirements. For instance, accidental death and disability riders provide coverage in case of accidental death or disability, while critical illness riders provide coverage for specific critical illnesses.
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Customization:
Riders allow you to customise your endowment plan based on your financial goals and requirements, ensuring comprehensive coverage.
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Cost-effective:
Riders are often cost-effective compared to buying standalone policies, providing additional coverage at a nominal premium.
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Tax benefits*:
Premiums paid towards riders are eligible for tax deductions under Section 80C of the Income Tax Act, up to a Rs 1,50,000 per annum.
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Flexibility:
You can add riders to your endowment plan at any time during the policy term, allowing you to enhance your coverage based on changing needs and circumstances.
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Peace of Mind:
Adding riders to your endowment plan provides peace of mind, knowing that you have additional coverage in case of unforeseen circumstances, such as critical illness, disability, or accidental death.

Steps to buy an Endowment Plan online at ABSLI

1. Visit the ABSLI website and navigate to the "Endowment Plans" section.
2. Browse through the available endowment plans and select the one that best suits your financial goals.
3. Click on "Buy Now" or "Calculate Premium" to estimate the premium amount for your chosen plan.
4. Complete the online proposal form by providing your personal and contact details.
5. Upload the required documents and make the premium payment using your preferred payment method.
6. Review your application and submit it. ABSLI will review your application and issue the policy upon approval.

Assistance to buy endowment plans online

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Frequently Asked Questions

Additional bonuses on endowment policies typically include annual reversionary bonuses and terminal bonuses. These bonuses depend on the insurer's profits and may vary each year. They are added to the maturity benefit or the death benefit, enhancing the overall payout.
You should consider buying an endowment policy if you're looking for a long-term savings and insurance solution that provides guaranteed# returns, life cover, and tax benefits*. It is suitable for individuals with long-term financial goals like retirement, children's education, or purchasing a home.
Premiums paid towards endowment policies are eligible for tax deductions under Section 80C of the Income Tax Act, up to ₹1.5 lakhs per year. The maturity proceeds or death benefits are tax-free under Section 10(10D)**, provided certain conditions are met.
Yes, endowment policies pay out a death benefit to the nominee in case of the policyholder's demise during the policy term. This amount typically includes the sum assured and any accrued bonuses, providing financial security to the dependents.
Yes, the maturity benefit of an endowment policy usually includes the sum assured and any accrued bonuses, such as annual reversionary bonuses and terminal bonuses.
Yes, you can change the beneficiary of your endowment policy by submitting a written request to your insurance provider, along with the necessary documentation.
Endowment plans typically have exclusions related to suicide within a specified period (usually one year) from the policy inception or revival date. In such cases, the nominee receives a limited payout, as specified in the policy terms and conditions.
Yes, endowment plans offer a lump-sum payout upon maturity or in case of the policyholder's demise during the policy term.
Yes, you can discontinue your endowment policy by surrendering it after the completion of the minimum lock-in period (usually 2-3 years). However, discontinuing the policy may lead to surrender charges and a reduced surrender value.
An endowment fund is a long-term investment fund typically established by non-profit organisations, educational institutions, or foundations to generate income for their operations and future projects.
Yes, endowment plans can be an effective retirement planning tool as they encourage long-term savings, provide life cover, and offer guaranteed# returns.
Yes, you can withdraw your endowment policy early after the completion of the minimum lock-in period. However, early withdrawal may result in surrender charges and a reduced surrender value.
Yes, endowment plans offer life cover, ensuring financial security for the policyholder's dependents in case of their demise during the policy term.
Endowment plans can give the policyholder guaranteed# returns (this is offered in the form of a sum assured). This is payable upon maturity or the policyholder's demise during the policy term. Some plans also offer guaranteed# additions or bonuses, enhancing the overall returns.
The tenure of an endowment policy typically ranges from 10 to 30 years or more, depending on the specific plan chosen.
Yes, you can buy an endowment plan for your child. These single premium endowment plans can help you accumulate a corpus for your child's future financial needs, such as higher education or marriage expenses. Additionally, they provide life cover, ensuring financial security for your child in case of your untimely demise during the policy term.
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The ABSLI Promise

Bringing together the legacy of 165+ year old Fortune 500 Aditya Birla Group and the global innovation leadership of Sun Life Insurance, Aditya Birla Sun Life Insurance is the best of both worlds. Synonymous with credibility, reliability and trust, we have touched the lives of over 18 Lakh families across the country, and continue to deliver a variety of life insurance plans catering to the different stages of your life.

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98.12%^ Claim Settlement Ratio:
In the year 2022-23, our claim settlement ratio is 98.12%^. Our high claim settlement ratio is a reflection of our commitment to protecting your best interests, always.
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Quick, online purchase:
In your fast-paced life, the tedious process of buying insurance can easily get deprioritised. Our quick, online process makes it easy for you to purchase your term plan from the comfort of your home.
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Seamless Claims Process:
Our simple, 3-step online claim settlement process and a short TAT (Turn-Around-Time) of just 5.7 days, you can be rest assured that your family gets a hassle-free experience while receiving the claim amount.
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Dedicated customer support:
Speak to one of our 79k+ direct selling agents, or visit any of our 363 offices across the country to find the best life insurance product for you. You can also speak to our customer service personnel on our 24X7 toll-free number.

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  • Disclaimer

    *Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
    **Sec 10(10D) benefit is available subject to fulfilment of conditions specified therein
    # Provided all due premiums are paid.
    ^ As per annual audited figures submitted to IRDAI for the period FY 22-23.
    ¹ Scenario: ABSLI Akshaya Plan, Age 35, Healthy Male, Premium Payment Term: 6 years, Policy Term: 25 years, Benefit Option: Long Term Income, Premium Rs.1lakh p.a. (Rs.100,000X6), Cash Bonus Payout Frequency: Annual, Sum Assured: Rs 710,000.
    Assumed @8% p.a., Cash Bonus (if declared) p.a. = Rs 23,004, Total Cash Bonus (if declared) (A)= Rs 5,75,100, Terminal Bonus (If declared) + Sum Assured (B) = Rs 8,73,300, Total Benefit (A+B) = Rs 14,48,400.
    Assumed @4% p.a., Cash Bonus (if declared) p.a. = Rs 8,520, Total Cash Bonus (if declared) (A)= Rs 2,13,000, Terminal Bonus (If declared) + Sum Assured (B) = Rs 7,95,200, Total Benefit (A+B) = Rs 10,08,200.
    ² ABSLI Vision Life Income Plan, healthy male, age 21, Sum Assured Rs.10 lakhs. Annualised Premium of Rs.1.62 lakhs approx for premium payment term: 8 years, policy term: 79 years, lump sum benefit of Rs.12000 @4% or Rs.3.44 lakhs @8% in 8th policy year, guaranteed regular income of Rs.50,000 plus bonus for life from 9th year.
    ³ ABSLI Income Assured Plan, age 21, healthy male, policy term 15 years, premium payment term 5 years, sum assured Rs.5 lakhs, Premium payable every year Rs.1,49,604/-, Income benefit Rs.40,000/- maturity Benefit Rs.8,50,000/- and Death benefit Rs.1,825,900/-.
    ⁴ ABSLI Vision Endowment Plus Plan, age 21 years, sum assured Rs.200000, premium paying term 7 years- annual, policy terms 10 years, Death benefit option:Option A, annual premium Rs.31,502/- for 7 years, Total total maturity benefit including terminal bonus, if any of Rs.2,39,514/- @4% and Rs. 3,07,514 @8% after 10 years for long term financial needs.
    ⁵ ABSLI Jeevan Bachat Plan, age 20 years, premium payment term 1 year, policy term 10 years, sum assured Rs.2 lakhs, premium payable Rs.20,900/-, maturity benefit Rs.26,120/-, death benefit Rs.2,06,120/-.
    ABSLI Akshaya plan is a non-linked participating individual savings life insurance plan (UIN: 109N136V02)
    ABSLI Vision MoneyBack Plus Plan s a traditional participating life insurance plan (UIN: 109N093V04).
    ABSLI Vision LifeIncome Plan is a traditional participating endowment plan (UIN: 109N079V06).
    ABSLI Vision LifeSecure Plan is a traditional participating whole life insurance plan (UIN: 109N087V04).
    ABSLI Income Assured Plan is a traditional non-participating savings plan (UIN: 109N089V06).
    ABSLI Vision Endowment Plus Plan is a traditional participating endowment plan (UIN: 109N092V05).
    ABSLI Jeevan Bachat Plan is a non-linked non-participating life insurance plan (UIN: 109N107V03).
    ABSLI Monthly Income Plan is a participating non-linked life insurance plan (UIN: 109N122V02).
    ABSLI Vision Lifeincome Plus Plan is a non-link participating individual life insurance savings plan(UIN:109N131V01)
    All terms & conditions are guaranteed throughout the policy term, except for the bonuses which would be declared at the end of each financial year. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc.
    ADV/7/23-24/1064