ABSLI Fortune Wealth Plan
Why buy ABSLI Fortune Wealth Plan?
ABSLI Fortune Wealth Plan is a unit-linked non-participating individual life insurance savings plan designed to help you grow your wealth and protect your loved ones. It offers flexibility in plan options, investment choices, and policy terms.
Key Features:
- Plan Options: Choose between Classic and Assured options.
- Policy Terms: Select various policy terms and premium paying terms.
- Guaranteed Additions: Receive guaranteed additions to your policy.
- Investment Flexibility: Choose from 5 investment strategies and 18 funds.
- Partial Withdrawals: Access funds for emergencies.
Investment Options:
- Systematic Transfer Option: Automatically transfer your investments based on market conditions.
- Return Optimizer Option: Balance market participation with risk management.
- Self-Managed Option: Have complete control over your investments.
- Smart Option: Adjust your investments based on your age and financial needs.
- Life Cycle Option: Automatically adjust your investments based on your age.
Benefits of ABSLI Fortune Wealth Plan:
- Death Benefit: If the life insured dies during the policy term, we will pay the nominee/legal heir.
- Maturity Benefit: If the life insured survives to the end of the policy term, a maturity benefit will be paid.
- Guaranteed Additions: Receive guaranteed additions to your policy.
Riders:
- ABSLI Comprehensive Critical Illness Rider: Get a lump sum benefit upon diagnosis of a critical illness.
- ABSLI Accidental Death Benefit Rider Plus: Receive a lump sum benefit in case of accidental death.
- ABSLI Waiver of Premium Rider: Waive future premiums in case of disability or critical illness.
How ABSLI Fortune Wealth Plan Works:
- Example: Mr. Verma, aged 35, purchases ABSLI Fortune Wealth Plan with the following details:
- Plan Option: Classic
- Annualized Premium: Rs. 1,00,000
- Premium Payment Term: 10 years
- Policy Term: 20 years
- Investment Option: Self-Managed Option
- Fund Chosen: Maximizer
- Premium Payment Mode: Annual
- Sum Assured: Rs. 10,00,000
Eligibility Criteria and Specifications:
- Type of Plan: Unit-Linked Non-Participating Individual Life Insurance Savings Plan
- Coverage: All Individuals (Male, Female, Transgender)
- Entry Age: Varies based on plan option (Classic: 30 days to 65 years, Assured: 18 to 50 years)
- Maturity Age: Varies based on plan option and premium payment term
- Minimum Annualized Premium: Rs. 40,000 p.a. (annual), Rs. 45,000 p.a. (semi-annual), Rs. 50,000 p.a. (quarterly/monthly)
- Maximum Annualized 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: Limited Pay (5 to 19 years) or 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 to 1,99,999
- Band 2: Rs. 2,00,000 to 4,99,999
- Band 3: Rs. 5,00,000 and above
Suicide Exclusion: In case of death due to suicide within 12 months of policy commencement or revival, the nominee will receive the Fund Value, subject to certain conditions.
For more details, visit https://lifeinsurance.adityabirlacapital.com/.
Note: This is a summary of ABSLI Fortune Wealth Plan. Please refer to the policy document for complete terms and conditions.