How to change the premium payment frequency in my policy?

At the inception of the policy, you need to choose the frequency of paying premium. This can’t be changed later.

How can I decrease the insurance cover in my policy?

At the inception of the policy, you need to choose your life cover based on your protection and savings need. This can’t be changed later.

Can I avail loan on this policy?

Yes, you are allowed to avail loan against the policy once your plan acquires a surrender value. The minimum loan amount is Rs. 5,000 and the maximum is 85% of your surrender value We shall charge interest on the outstanding loan balance at a rate declared by us on June 1st of each calendar year determined as (x+2%), where x is the base rate of the State Bank of India. The interest charged by us on any outstanding policy loan balance accrues on a daily basis. The current interest rate applicable (calculated as on June 1st, 2019) is 11.05%. The death benefit, maturity benefit or surrender benefit will be reduced by the outstanding loan balance (if any) You are free to repay all or part of your outstanding policy loan balance at any time, subject to our then current administration guidelines If the policy is in reduced paid-up status; should the outstanding policy loan balance equal or exceed the surrender value of your policy at any time, then the policy shall be lapsed without value, all the benefits in the policy shall cease and it shall be terminated.

What type of documents is required for this policy?

You will have to submit your KYC Documents, Medical history documents if any.

What is the outcome if my policy lapse or gets discontinued?

In case you have not paid premiums for two full years, then all benefits under your policy will cease immediately.

Is there any rider benefit in this plan?

No, this insurance savings plan does not offer any rider benefit.

What is reversionary bonus in this plan?

ABSLI declares simple bonuses regularly at the end of each financial year and that will be added to your policy on its policy anniversary, death or surrender. Bonuses once attached to the policy are payable along with the interim bonuses, as applicable on death, surrender or maturity. In case of surrender the surrender value of the bonuses will be payable. The regular bonus rate declared by ABSLI may vary from year to year and will depend on the actual experience regarding various factors and the prevailing economic conditions. Future bonuses are however not guaranteed and will depend upon the future profits of the participating business.

What is terminal bonus?

ABSLI may also pay a terminal bonus on death, surrender or maturity based on the actual experience and the prevailing economic conditions.

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1800-270-7000

Aditya Birla Sun Life Insurance Company Limited

ABSLI Savings Plan

PROTECTING your family’s smile for years to come

Aditya Birla Sun Life Insurance Savings Plan can help you achieve your life goals by enabling you to save regularly and grow your savings steadily over time. Give your loved one’s peace of mind and the promise of a secured financial future to meet their needs.

Key Features

Guaranteed Additions¹ for the first 5 policy years
Regular bonus starting from the first policy year
Flexibility to choose life cover & policy term
Additional Sum Assured payable in case of accidental death

Guaranteed Additions
Guaranteed Additions of 40 per thousand Sum Assured will be added to your policy at the end of each policy year during the first 5 years; provided all due premiums have been paid.
Death benefit
In case of life insured’s unfortunate demise during the policy period, a pre-determined death benefit will be paid to your nominee. The policy will stand terminated once the death benefit is paid.

In case of life insured’s unfortunate demise due to an accident during the Policy period, then in addition to the death benefit, an Accidental Death Benefit will be paid to your nominee.

Please refer the product brochure for detailed description on this benefit.
Maturity Benefit
If life insured survives till the end of the policy term, a maturity benefit will be paid to you in a lump sum. The policy will stand terminated once the maturity benefit is paid.

Please refer the product brochure for detailed description on this benefit.
Reduced Paid–Up Benefit
If you discontinue paying premiums after having paid premiums for at least two full policy years, your policy will not lapse but continue on a Reduced Paid-Up basis.
Auto Cover Continuation
In case premiums for two policy years have been paid in full and you miss paying any subsequent premium, full death benefit shall continue for a period of two successive years (auto cover continuation period) from the due date of first unpaid premium, even though the policy is in Reduced Paid-Up status.

Entry Age (age last birthday)
18 – 50 years (Maximum Maturity Age 70 years)
Policy Term
10 | 15 | 20 years
Premium Paying Term
For policy term 10 years: Regular pay

For policy term 15 years: 10 years | Regular pay

For policy term 20 years: 10 years |15 years | Regular pay
Minimum Sum Assured
Rs. 30,000
Maximum Sum Assured
Rs. 10,00,000
Premium Frequency
Annual, Semi-annual, Quarterly & Monthly

(all modes except Annual allowed through ECS only)

FAQs

How to change the premium payment frequency in my policy?

At the inception of the policy, you need to choose the frequency of paying premium. This can’t be changed later.
How can I decrease the insurance cover in my policy?

At the inception of the policy, you need to choose your life cover based on your protection and savings need. This can’t be changed later.
Can I avail loan on this policy?
Yes, you are allowed to avail loan against the policy once your plan acquires a surrender value.
- The minimum loan amount is Rs. 5,000 and the maximum is 85% of your surrender value
- We shall charge interest on the outstanding loan balance at a rate declared by us on June 1st of each calendar year determined as (x+2%), where x is the base rate of the State Bank of India. The interest charged by us on any outstanding policy loan balance accrues on a daily basis. The current interest rate applicable (calculated as on June 1st, 2019) is 11.05%.
- The death benefit, maturity benefit or surrender benefit will be reduced by the outstanding loan balance (if any)
- You are free to repay all or part of your outstanding policy loan balance at any time, subject to our then current administration guidelines
- If the policy is in reduced paid-up status; should the outstanding policy loan balance equal or exceed the surrender value of your policy at any time, then the policy shall be lapsed without value, all the benefits in the policy shall cease and it shall be terminated
What type of documents is required for this policy?

You will have to submit your KYC Documents, Medical history documents if any.
What is the outcome if my policy lapse or gets discontinued?

In case you have not paid premiums for two full years, then all benefits under your policy will cease immediately.
Is there any rider benefit in this plan?

No, this insurance savings plan does not offer any rider benefit.
What is reversionary bonus in this plan?

ABSLI declares simple bonuses regularly at the end of each financial year and that will be added to your policy on its policy anniversary, death or surrender. Bonuses once attached to the policy are payable along with the interim bonuses, as applicable on death, surrender or maturity. In case of surrender the surrender value of the bonuses will be payable. The regular bonus rate declared by ABSLI may vary from year to year and will depend on the actual experience regarding various factors and the prevailing economic conditions. Future bonuses are however not guaranteed and will depend upon the future profits of the participating business.
What is terminal bonus?

ABSLI may also pay a terminal bonus on death, surrender or maturity based on the actual experience and the prevailing economic conditions.

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¹Provided all due premiums have been paid

Disclaimer:

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked participating life insurance endowment plan. All terms & conditions are guaranteed throughout the policy term, except for the bonuses which would be declared at the end of each financial year. Some benefits are guaranteed, and some benefits are variable with bonuses based on the future performance of the participating business and economic conditions. 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. For more details on risk factors, terms & conditions, please read the brochure carefully before concluding the sale. For precise terms & conditions please refer to the policy contract. Tax benefits are subject to changes in the tax laws. Some benefits are guaranteed and some benefits are variable with bonuses based on the future performance of the participating business and economic conditions. If your policy offers guaranteed returns then these will be clearly marked “guaranteed” in the illustration table on this page. 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. Insurance is the subject matter of the solicitation. Aditya Birla Sun Life Insurance Company Limited (Formerly 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 - 400 013. Call Centre: 1-800-270-7000 www.adityabirlasunlifeinsurance.com IRDAI reg no.109 CIN: U99999MH2000PLC128110 UIN: 109N088V02

ADV/9/20-21/1057

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