Why Buy ABSLI Nishchit Laabh Plan?
ABSLI Nishchit Laabh Plan provides guaranteed# returns with multiple flexibilities and security for your family despite life’s uncertainties. It helps achieve life goals by covering expenses and uncertainties with guaranteed# lumpsum benefits and options for regular income and moneyback.
Key Features
- Choice of 3 Plan Options: Endowment, Income with Lumpsum, and Moneyback Option.
- Long-Term Guaranteed# Income: For 20 or 30 years under the Income with Lumpsum option.
- Loyalty Additions: Boosts maturity corpus and survival benefits as per the chosen plan option.
- Guaranteed# Lumpsum Benefit: At maturity of the policy.
- Flexibility: Build your own plan with options for plan choice, premium payment term, and policy term.
- Assured Protection: Life cover across the policy term.
Benefits of ABSLI Nishchit Laabh Plan
ABSLI Nishchit Laabh Plan offers guaranteed# lumpsum at maturity and options for Income with Lumpsum and Moneyback.
Enhance ABSLI Nishchit Laabh Plan with Riders
Enhance your cover with Riders at a nominal additional premium. Note: There are exclusions attached to the riders. Please refer to the rider brochure for more details.
How Does This Plan Work?
Use Case 1
- Mr. Vikram Verma, age 35 years, invests ₹50,000 p.a. in ABSLI Nishchit Laabh Plan.
- He opts for the Endowment Option with a Premium Payment Term of 10 years and a Policy Term of 20 years.
- Mr. Verma survives through the Policy Term and receives the Maturity Benefit at the end of the policy term.
Product Specifications
Type of Plan: A Non-linked, Non-participating, Individual Life Insurance Savings Plan
Coverage: All Individuals (Male | Female | Transgender)
Benefit Options:
- Endowment Option
- Income with Lumpsum Option
- Moneyback Option
Age of the Life Insured at Entry (age as on last birthday)
- Minimum: 30 days*
- Maximum:
- Endowment & Income with Lumpsum Option: 60 years
- Moneyback Option: 55 years
Maturity Age of the Life Insured (age as on last birthday)
- Minimum: 18 years
- Maximum:
- Endowment Option: 85 years
- Income with Lumpsum Option: 88 years
- Moneyback Option: 80 years
Premium Payment Term (PPT) & Policy Term (PT):
- Endowment Option: PPT of 8, 10, or 12 years with PT of 20 or 25 years
- Income with Lumpsum Option: PPT + 20 or 30 years
- Moneyback Option: PPT of 20 or 25 years
Premium Payment Modes and Modal Factors:
- Annual: 0%
- Semi-annual: 2.0%
- Quarterly: 3.0%
- Monthly: 4.0%
Minimum Annualized Premium: ₹15,000
Maximum Annualized Premium: ₹1,00,000
Minimum Sum Assured: ₹1,50,000
Maximum Sum Assured: ₹10,60,000 (Subject to Board Approved Underwriting)
Benefit Payout Frequency: Income benefit under the Income with Lumpsum option can be received annually, semi-annually, quarterly, or monthly.
POS Boundary Conditions:
- Age of the Life Insured at Entry (age as on last birthday)
- Minimum: 30 days*
- Maximum: Endowment & Moneyback Option: 45 years
- Maturity Age of the Life Insured (age as on last birthday): 65 years
- Minimum Annualized Premium: ₹15,000
- Maximum Annualized Premium: ₹1,00,000
- Maximum Sum Assured on Death: ₹25,00,000
What’s Not Covered?
Suicide Exclusion: If the Life Insured dies by suicide within 12 months of the effective date of risk commencement or the date of revival of the policy, the policy shall terminate immediately. The Company will pay the higher of the Surrender Value or Total Premiums Paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes.