What is ABSLI Poorna Suraksha Kawach?
ABSLI Poorna Suraksha Kawach is a comprehensive term insurance plan designed to provide robust financial protection for your family in the face of unforeseen events. It aims to cover various financial needs and safeguard your loved ones’ future with several flexible plan options.
Key Features:
- Multiple Plan Options: Choose from various plans to suit different financial requirements.
- Inbuilt Terminal Illness Benefit: Provides coverage if the policyholder is diagnosed with a terminal illness.
- Accelerated Critical Illness Benefit: Covers 42 listed critical illnesses with an additional premium.
- One-Time Exit Value: Allows for a one-time exit value in emergencies, providing flexibility.
Benefits of ABSLI Poorna Suraksha Kawach:
- Comprehensive Protection: Offers broad coverage for various life scenarios and financial needs.
- Flexible Premium Payment Terms: Choose from different payment options, including single pay and regular pay.
- Return of Premium Option: Secure your savings along with the insurance cover with options for return or early return of premium.
- Accelerated Critical Illness Benefit: Get coverage for 42 critical illnesses with an additional premium.
How Does ABSLI Poorna Suraksha Kawach Work?
Consider Mr. Gupta, a 35-year-old non-smoker who opts for the ABSLI Poorna Suraksha Kawach with a sum assured of ₹1 crore. He selects a 50-year policy term with a 10-year premium payment term. If Mr. Gupta passes away in the 25th year, his family will receive a lump sum amount of ₹1 crore.
Eligibility Criteria:
- Plan Options: Various plans with flexible terms.
- Premium Payment Term: Single Pay, 5 Pay, 7 Pay, 10 Pay, 12 Pay, 15 Pay, 20 Pay, or Regular Pay.
- Policy Term: Minimum of 5 years and up to 55 years.
- Age of Insured at Entry: Minimum 18 years, Maximum 65 years.
- Maximum Maturity Age: Up to 85 years.
Sum Assured Options:
- Minimum: ₹25 Lakhs
- Maximum: No Limit, subject to Board Approved Guidelines
Why Invest in ABSLI Poorna Suraksha Kawach?
- Choice of Multiple Plan Options: Tailor the coverage to meet your specific needs.
- Return of Premium (RoP) or Early Return of Premium Option (ERoP): Ensure your premiums are returned or get early return options for added security.
- Flexible Exit Value: Provides financial support in emergencies with a one-time exit value.
- Accelerated Critical Illness Benefit (ACI): Covers 42 critical illnesses with additional premium.
What’s Not Covered:
- Suicide Exclusion: If the policyholder dies by suicide within 12 months from the risk commencement date or policy revival date, the policy will terminate. The higher of the surrender value/unexpired risk premium value or total premiums paid (excluding taxes) will be refunded.
- Terminal Illness Benefit Exclusion: The terminal illness benefit will not be provided if the illness is caused or aggravated by self-inflicted injuries or attempted suicide.