Home Loans
Personal
Loans
SME Loans
Business Loans - Udyog
Plus
Loan against Securities
Mutual Funds
Stock and
Securities
Portfolio
Management Services
Pension Funds
Life
Insurance
Health
Insurance
Wellness
Solutions
Pay Bills
Pay anyone
Pay on call
Payment
Lounge
ABC Credit
Cards
1800-270-7000
ABSLI Assured Savings Plan
Savings Plan for secured future and assured returns.
Guaranteed1 Benefits
Tax Benefit2
Invest ₹1.2 lakhs/year for 10 years
Get ₹30.48 lakhs4 lumpsum at maturity.
Get ₹30.48 lakhs4 lumpsum at maturity.
Why buy ABSLI Assured Savings Plan?
-
Loyalty Additions to boost maturity corpus.
-
Option to cover your spouse by choosing Joint Life Protection.
-
Comprehensive life insurance cover
-
Guaranteed1 maturity benefits
-
Option to enhance your cover with riders.
Benefits of ABSLI Assured Savings Plan
ABSLI Assured Savings Plan for life cover and savings, to manage crises in life.
Death Benefit
In the event of death of the Life Insured during the Policy Term and provided that the Policy is In-force, the Death Benefit will be payable to the Nominee(s)/ Legal heir(s).
Maturity Benefits
On Survival of the Life Insured till the end of the Policy Term provided the Policy is in-force and all due Instalment Premiums under the Policy have been paid
Joint Life Protection
This option is available only for Limited Pay Policies. If this option has been chosen at inception of the Policy, then under this option, two lives, the Primary Life Insured and the Secondary Life Insured (spouse) are covered under the same Policy.
Tax Benefit
The policy holder may be entitled to certain applicable tax benefits on premiums paid and on benefit(s) received under his/her policy.
Savings plan without riders is insufficient cover
Make your plan better with rider3 plans and save smart
ABSLI Accidental Death Benefit Rider Plus
UIN: 109B023V02
This rider provides 100% of Rider Sum Assured as an additional lump sum amount in case of death due to accident of Life Insured. Additionally, the rider premiums collected aſter the date of Accident till date of death, shall be refunded with interest, along with death benefit payable. This rider is only applicable for a Life Insured aged 18 years & above and the rider Policy Term cannot exceed the base Policy Term.
Download Brochure
ABSLI Critical Illness Rider
UIN: 109B019V03
This rider provides lump sum on survival of 30 days from the date of diagnosis of any of the specified critical illnesses. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term.
ABSLI Hospital Care Rider
UIN: 109B016V03
This rider provides daily cash benefit in case of hospitalization for a minimum period of 24 hours for medically necessary treatment of any Illness or Injury payable from the first day for the duration of hospitalization. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term.
ABSLI Surgical Care Rider
UIN: 109B015V03
This rider provides lump sum benefit in case of hospitalization for a minimum period of 24 hours for undergoing medically necessary surgery in India. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term.
ABSLI Waiver of Premium Rider
UIN: 109B017V03
This rider waives off all future premiums of the base plan and the attached riders throughout the rest of the premium payment in case of diagnosis of Critical Illness, Disability or Death (only if Life Insured is a minor i.e., below 18 years of age and is different from the Policyholder).
How does ABSLI Assured Savings Plan work?
- Mr. Sharma, aged 35 years, purchased ABSLI Assured Savings Plan. He chose the policy premium paying terms 8 years, policy term 16 years with lumpsum benefit option.
- Mr. Sharma decided to pay his premiums annually with annualised premium of ₹1,00,000/- (exclusive of taxes). Total premium paid for 8 years will be equal to ₹8,00,000/-.
- Mr. Sharma survives through the Policy Term and receives Guaranteed Maturity Benefit and Accrued Loyalty Additions at the end of Policy term.
- Mr. Sharma, aged 35 years, purchased ABSLI Assured Savings Plan. He chose these at the inception of the policy premium paying terms 8 years, policy term 16 years with lumpsum benefit option.
- Mr. Sharma decided to pay his premiums annually with annualised premium of ₹1,00,000/- (exclusive of taxes). Total premium paid for 8 years will be equal to ₹8,00,000/-
- He died in the beginning of the 12th policy year. In this scenario, Mr. Sharma’s nominee will receive death benefit and the policy will terminate.
Want to make savings?
Buy ABSLI Assured Savings Plan Now
|
Product Specifications |
|||||||||||||||||||||||||||
|
Type of Plan |
A Non-Linked Non-Participating Individual Savings Life Insurance Plan |
||||||||||||||||||||||||||
|
Coverage |
All Individuals (Male | Female | Transgender) |
||||||||||||||||||||||||||
|
Benefit Option |
Lumpsum Payout at Policy Maturity |
||||||||||||||||||||||||||
|
Premium Payment Term (PPT) & Policy Term (PT)
|
|
||||||||||||||||||||||||||
|
Age of the Life Insured at Entry (Age as on last birthday) |
Minimum |
Single Life: 30 days* Joint Life: 18 years * In case the Life Insured is a minor, the Policy will automatically vest in favour of Life Insured after attainment of majority of the Life Insured. For policies issued on minor life, the date of commencement of risk shall be the date of commencement of the policy. |
|||||||||||||||||||||||||
|
Maximum |
Single life: 65 years Joint Life: 50 years Single Pay Option B: 50 years |
||||||||||||||||||||||||||
|
Maturity Age of the Life Insured (Age as on last birthday) |
Minimum |
18 years |
|||||||||||||||||||||||||
|
Maximum |
85 years Single Pay Option B: 70 years |
||||||||||||||||||||||||||
|
Minimum Annualized Premium |
Single Pay: Rs.100,000 5 Pay: Rs.20,000 6-12 Pay: Rs.30,000 |
||||||||||||||||||||||||||
|
Maximum Annualized Premium |
No Limit (subject to Board Approved Underwriting Policy) |
||||||||||||||||||||||||||
|
Premium Payment Frequency and Frequency Loadings |
|
||||||||||||||||||||||||||
|
Premium Bands |
The benefits under this product vary by premium bands as mentioned below:
|
||||||||||||||||||||||||||
What’s not Covered?
Suicide Exclusion
In case of death due to suicide within 12 months from the date of commencement of the risk or from the date of revival of the policy, as applicable, the nominee(s)/ Legal heir(s) or the beneficiary of the Policyholder shall be entitled to receive the total premiums paid till date of death or surrender value available on the date of death, whichever is higher, provided the policy is In-force.
For Joint Life Protection, the suicide exclusion described above applies in the event of death of either the Primary Life Insured or the Secondary Life Insured.
How to initiate Claim?
3 quick steps, everything online.
- Fill basic details
- Claim intimation
- Document submission
Frequently Asked Questions
Know more about ABSLI Assured Savings Plan in detail here:
Yes, savings plans provide the tax benefit under the plan as per existing tax laws, please consult your tax advisor for details
Key features of ABSLI Assured Savings Plan are:
- Get Guaranteed¹ Maturity benefits to cater to your life’s milestones worry free.
- Receive Loyalty Additions post premium payment term to boost your maturity corpus, provided all due premiums have been paid.
- Get Higher maturity benefit for higher premium paying policies.
- Get Comprehensive risk cover in case of death of life insured.
- Get Cover for your Spouse in the same policy through the Joint Life Protection option.
- Flexible Premium Payment Terms, Policy Terms and Sum Assured Multiples for customizing policy benefits.
- Additional risk cover through Riders.
Buying your life insurance policy early in life at a younger age is better because the premium at this point is more affordable. You will be taken as a low risk individual for the insurance company. At an early age, you can take the advantage of low premium rates.
YES, this plan can be taken on single life as well as on joint life basis (only under the limited pay option).Under the Joint Life Protection option, two lives i.e. Customers (primary life insured) and their spouse (secondary life insured) are covered under the same policy and have joint ownership of the policy. The sum assured applicable for the spouse shall be equal to 20% of applicable sum assured of primary life insured. Customers can opt for this option at the inception of the policy subject to the attained age of primary life insured & secondary life insured is less than or equal to 50 years. No riders can be opted under this option and this option cannot be discontinued except due to the unfortunate demise of either of the lives who are insured.
The minimum maturity age is 18 Years. The maximum maturity age is 85 Years and 70 Years for Single Pay Option B.
No, Customer cannot increase or reduce his premium amount during the policy tenure.
The Maximum Sum Assured on Death for Policies sourced through the POS channel is ₹25,00,000/-
Yes, enhanced guaranteed1 maturity benefits will be provided for employees of Aditya Birla Group companies, Agents of Aditya Birla Sun Life Insurance and Employees of Corporate Agents and Brokers, buying their policies directly from ABSLI.
Yes. Customers can take a loan against the policy once it acquires a surrender value.
- The minimum loan amount is Rs. 5,000 and the maximum is 80% of the then applicable Surrender Value less any outstanding Policy loan balance. On exercising this option, the Policy shall automatically get assigned to the Company to the extent of the outstanding Policy loan balance.
- We shall charge interest on the outstanding loan balance at a rate declared by us from time to time based on prevailing market conditions.
- The death benefit, maturity benefit or surrender benefit will be reduced by the outstanding loan balance (if any).
- When the policy is in-force, if the outstanding policy loan plus Loan interest exceeds the surrender value, then the Policy will not be terminated, and the company will inform the Policyholder of the same with a 90-days advance notice to repay such outstanding Loan balance along with applicable interest.
If Customer discontinues paying premiums, after having paid premiums for at least 2 full policy years, policy will not lapse but continue on a Reduced Paid-Up (RPU) basis. Under Reduced Paid-Up:
- The RPU Sum Assured, RPU Sum Assured on Death and RPU Guaranteed Maturity Benefit shall be equal to the Sum Assured, Sum Assured on Death and Guaranteed Maturity Benefit respectively multiplied by the RPU Factor. Where, “RPU Factor '' means the ratio of the number of Instalment Premium paid on date, over the total number of Instalment Premium originally due for the Policy Term.
- The Policy will not be entitled for any Loyalty Additions once it has been converted into Reduced Paid-Up Policy.
- Rider benefit, if any, will cease.
The policy shall immediately and automatically terminate on the earliest occurrence of any of the following events:
For a single life policy
For a single life policy
- date of payment of free look cancellation amount; or
- the date of payment of Surrender Value; or
- the date of settlement of Death Benefit; or
- the date of payment of Maturity Benefit; or
- the date on which the Revival Period ends after Your Policy has lapsed as per Premium Discontinuance provision
- date of payment of free look cancellation amount; or the date of payment of Surrender Value; or
- the date of payment of Maturity Benefit; or
- the date on which the Revival Period ends after Your Policy has lapsed as per Premium Discontinuance provision
The “Common Application Form MAJOR” & “Common Application Form MINOR” would be used for this plan. In case of Joint Life Protection Option, the “Joint Life Addendum Form” will also have to be used.
No, the policyholder can avail any one discount at any given time while sourcing the policy.
Yes, Tax benefits are available under the plan as per existing tax laws, please consult your tax advisor for details.
Free Look Period is the time when you can return your policy to Us within 15 days (30 days in case of electronic policies and the policies issued under the provisions of IRDAI Guidelines on Distance Marketing of Insurance products) from the date of receipt of the policy, in case You are not satisfied with the terms & conditions of Your policy. We will refund the premium paid once We receive Your written notice of cancellation (along with reasons thereof) together with the original policy document. We may reduce the amount of the refund by proportionate risk premium for the period of cover and expenses incurred by us on medical examination, if any, and stamp duty charges while issuing your policy in accordance to IRDAI (Protection of Policyholders Interest) Regulations, 2017.
SHOW ALL
HIDE
Other Insurance Plans
ABSLI Fixed Maturity Plan
ABSLI Fixed Maturity Plan is a life insurance savings plan which gives you a financial guarantee to fulfil your dreams while providing you with a life cover which safeguards your family in case of an eventuality.
Guaranteed Returns
Loan against policy for emergency situation
Flexibility of Investment Amount and Policy Term
ABSLI Assured Income Plus
Aditya Birla Sun Life Insurance Assured Income Plus provides the benefit of life insurance cover during the Policy Term and guaranteed income for 20, 25 or 30 years to ensure fulfilment of your family’s long term goals and aspirations.
Long term regular income for 20, 25 or 30 years
Fully Guaranteed Returns on your investment
Loyalty Additions
ABSLI Vision LifeIncome Plan
ABSLI Vision LifeIncome Plan is a traditional participating whole life insurance plan which offers a perfect blend of regular income and financial protection for your family in your absence.
Whole life cover up to age 100
Short premium paying term available
Income for whole life
ABSLI Vision LifeIncome Plus Plan
Aditya Birla Sun Life Insurance Vision LifeIncome Plus Plan provides the benefit of a comprehensive life insurance cover for a lifetime, up to a maximum of age 100 along with a guaranteed regular income.
Life cover up to a maximum of age 100
Option to enhance your insurance cover through riders
Option to get cash-in-hand even while paying premiums
ABSLI SecurePlus Plan
In today’s times of financial instability, there is a risk of your income not keeping pace with your needs and goals. Aditya Birla Sun Life Insurance SecurePlus Plan recognises such needs and provides you with a second income which secures your financial future.
Commutation Option
Loyalty Additions
Customizable Benefits
ABSLI Assured FlexiSavings Plan
ABSLI Assured FlexiSavings Plan offers guaranteed returns to help achieve your financial goals and the flexibility to access your corpus through unlimited withdrawals.
Income Booster of 5% of the accrued amount each year
Loyalty additions
Enjoy a 10% additional benefit on total premiums paid
ABSLI Jeevan Bachat Plan
Aditya Birla Sun Life Insurance Jeevan Bachat Plan boosts your savings by offering guaranteed returns and life cover 10 times of your annualized premium along with tax benefits.
Inbuilt accidental death benefit
No medical tests required
Easy and convenient to buy
ABSLI Vision Endowment Plus Plan
ABSLI Vision Endowment Plus Plan offers secured savings and provides your family with comprehensive financial protection for longer durations.
Comprehensive financial protection of your family
Accrued regular bonuses to augment your savings
-
Disclaimer
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding the sale.
1 Provided all due premiums are paid.
2 Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
3 There are exclusions attached to the rider. Please refer to the brochure.
4 Scenario: Healthy male age 25 years, premium paying term 10 years, policy term 20 years, payment frequency annually, Sum Assured Rs. 16.2 lakhs, Premium Rs.1.2 lakhs/year excluding GST), you get Rs. 30,48,000/- by age 45
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a Non-Linked Non-Participating Individual Savings Life Insurance Plan. All terms & conditions are guaranteed throughout the policy term. 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. All policy benefits are subject to policy being In-force. Customer Helpline Numbers: 1-800-270-7000 (Toll Free) between 10 am to 7 pm
UIN: 109N134V08. ADV/1/23-24/3275