Why Buy ABSLI Group Smart Supreme?
ABSLI Group Smart Supreme is designed to provide comprehensive life insurance coverage for members, ensuring that their financial obligations do not become a burden on their families. This plan helps in securing the loan repayment and safeguarding the dreams of members and their families.
Key Features:
- Coverage for All Loan Products: Applicable for various types of loans.
- Target Savings/Accumulation: Provides cover to secure target savings or accumulation products.
- Flexible Coverage Options: Choose between Level or Reducing Sum Assured cover options.
- Joint Life & Co-Borrowers: Option to cover joint life or co-borrowers as needed.
- Enhanced Coverage: Various inbuilt options to enhance your cover.
- Terminal Illness Cover: Includes inbuilt coverage for terminal illness.
Benefits of ABSLI Group Smart Supreme:
- Cover Term: Flexible from 1 month to 30 years, in multiples of 1 month, not exceeding the loan tenure.
- Premium Payment Term: Single Pay.
- Entry Age:
- Minimum: 14 years (for Base cover); 18 years (for other benefits).
- Maximum: 79 years (for Base cover); 63 years (for other benefits).
- Maximum Maturity Age:
- 80 years (for Base cover); 70 years (for other benefits).
- Minimum Premium Amount: Re. 0.20.
- Maximum Annualized Premium: No limit.
- Minimum Sum Assured: Rs. 5,000 at inception for Base cover.
- Maximum Sum Assured: No limit, subject to underwriting policy; Original Sum Assured shall not exceed 125% of the outstanding loan amount.
- Minimum Number of Members: 5.
- Maximum Number of Members: No limit.
- Minimum Middle-Up Sum Assured: Rs. 5,000.
How Does ABSLI Group Smart Supreme Work?
- Choose Death Benefit Variants:
- Level Cover: Fixed sum assured throughout the policy term.
- Reducing Cover: Sum assured decreases over time, typically in line with the reducing balance of the loan.
- Select Coverage Options:
- Single Life
- Joint Life (two lives), with benefit payable on the first death.
- Co-Borrower (no limit, subject to eligibility).
- Choose Optional Benefits:
- Accidental Death Benefit
- Accidental Total and Permanent Disability (Accelerated)
- Critical Illness Coverage:
- Essential Critical Illness Cover (Accelerated Critical Illness 10)
- Super Critical Illness Cover (Accelerated Critical Illness 25)
- Mega Critical Illness Cover (Accelerated Critical Illness 50)
- Additional Critical Illness Cover options also available.
- Select Policy Term & Moratorium Period: Customize as per requirements.
Additional Resources:
For more details, download the brochures or visit our website.