Why Buy ABSLI Fortune Wealth Plan?
The ABSLI Fortune Wealth Plan is a comprehensive unit-linked insurance plan designed to help you grow your wealth while providing life insurance coverage. Here’s why it might be the right choice for you:
- Flexible Plan Options: Choose from two plan options:
- Classic Option: Coverage and benefits tailored to your specific needs.
- Assured Option: Offers guaranteed additions in the form of additional units.
- Diverse Investment Choices: Benefit from a wide range of investment options, including:
- Systematic Transfer Option: Mitigates market timing risks.
- Return Optimiser Option: Balances market participation with return protection.
- Self-Managed Option: Full control over your investments.
- Smart Option: Adapts to changing financial needs.
- Life Cycle Option: Adjusts investment balance based on your age.
- Guaranteed Additions: Enjoy additional units added to your policy, enhancing the overall value of your investment.
- Flexible Policy Terms: Choose from a wide range of policy terms and premium paying terms to match your financial goals and preferences.
- Partial Withdrawals: Access funds in case of emergency needs, offering financial flexibility.
Key Benefits:
- Investment Growth: Grow your wealth with diverse investment strategies and fund options.
- Flexibility: Tailor the policy to fit your financial goals and investment preferences.
- Guaranteed Additions: Additional units contribute to long-term wealth accumulation.
- Protection and Growth: Combines life insurance coverage with investment growth.
How ABSLI Fortune Wealth Plan Works:
Use Case 1: Mr. Verma, aged 35, selects the Classic Option with an annual premium of Rs. 1,00,000, a premium payment term of 10 years, and a policy term of 20 years. He chooses the Self-Managed Option with the Maximiser fund. If Mr. Verma survives the entire policy term, he benefits from accumulated units and assured returns, providing substantial financial security and growth.
Eligibility Criteria & Specifications:
- Type of Plan: Unit-Linked Non-Participating Individual Life Insurance Savings Plan
- Coverage: Available for all individuals (Male | Female | Transgender)
- Entry Age:
- Classic Option: Minimum 30 days; Maximum varies based on premium payment term (5 to 65 years)
- Assured Option: Minimum 18 years; Maximum varies based on premium payment term (45 to 50 years)
- Maturity Age:
- Classic Option: Minimum 18 years; Maximum varies based on premium payment term (70 to 75 years)
- Assured Option: Minimum 28 years; Maximum 60 years
- Premium Payment Mode: Annual, Semi-Annual, Quarterly, Monthly
- Minimum Premium:
- Annual Mode: Rs. 40,000
- Semi-Annual Mode: Rs. 45,000
- Quarterly and Monthly Mode: Rs. 50,000
- Age 61 to 65 Years: Rs. 5,00,000
- Maximum Premium: No limit (subject to Board Approved Underwriting Policy)
- Minimum Sum Assured: Rs. 4,00,000
- Maximum Sum Assured: No limit (subject to Board Approved Underwriting Policy)
- Premium Payment Term (PPT): Limited Pay (5 to 19 years), Regular Pay (10 to 20 years)
- Minimum Policy Term: 10 years (PPT + 1)
- Maximum Policy Term: 20 years
- Premium Bands:
- Band 1: Rs. 40,000 – 1,99,999
- Band 2: Rs. 2,00,000 to 4,99,999
- Band 3: Rs. 5,00,000 and above
Suicide Exclusion Clause:
- In case of death due to suicide within 12 months from the policy’s commencement or revival, the nominee will receive the fund value available on the date of intimation of death. Any charges recovered after death will be added back to the fund value.
Brochure, Leaflet, and Policy Contract: Available for further details.