Protecting Your Family’s Smile for Years to Come
The Aditya Birla Sun Life Insurance (ABSLI) Savings Plan is designed to help you achieve your life goals by encouraging regular savings and enabling your wealth to grow steadily over time. This plan offers your loved ones peace of mind and the assurance of a secure financial future, ensuring that their needs are met.
Download the Brochure
Key Features of the ABSLI Savings Plan:
- Guaranteed Additions: For the first five policy years, your policy will receive Guaranteed Additions of 40 per thousand Sum Assured, provided all due premiums have been paid.
- Regular Bonus: Starting from the first policy year, your policy will earn regular bonuses.
- Flexibility: You can choose the life cover and policy term that best suits your needs.
- Accidental Death Benefit: In case of accidental death, an additional Sum Assured will be payable.
Benefits
Eligibility
Guaranteed Additions
During the first five years of your policy, Guaranteed Additions of 40 per thousand Sum Assured will be added annually, provided all premiums are paid on time.
Death Benefit
In the unfortunate event of the policyholder’s death during the policy term, a pre-determined death benefit will be paid to the nominee, and the policy will terminate once the benefit is paid. If the death is due to an accident, an additional Accidental Death Benefit will be paid to the nominee. For more details on this benefit, please refer to the product brochure.
Maturity Benefit
If the policyholder survives until the end of the policy term, a lump sum maturity benefit will be paid, and the policy will terminate once this benefit is disbursed. For more information on this benefit, please consult the product brochure.
Reduced Paid-Up Benefit
If you stop paying premiums after at least two full policy years, your policy will not lapse but will continue on a Reduced Paid-Up basis.
Auto Cover Continuation
If you have paid premiums for two policy years and then miss subsequent payments, your full death benefit will continue for two successive years (known as the auto cover continuation period) from the date of the first unpaid premium, even if the policy is in Reduced Paid-Up status.
Frequently Asked Questions (FAQs)
- How can I change the premium payment frequency in my policy?
- Is it possible to decrease the insurance cover in my policy?
- Can I avail of a loan against this policy?
- What type of documents are required for this policy?
- What happens if my policy lapses or gets discontinued?
- Is there a rider benefit in this plan?
- What is the reversionary bonus in this plan?
- What is a terminal bonus?
Trending Articles
- Extra Income Plan for Financial Growth – 2.3K UpVotes
- Do Beneficiaries Need to Pay Taxes on Life Insurance Payouts? – Aditya Birla Sun Life Insurance – 2.2K UpVotes
- Types of Life Insurance – Best Life Insurance Policies in India – ABSLI – 307 UpVotes
- Life Insurance Claim Settlement Ratio Guidebook 2022 – Claim Settlement Ratio – 314 UpVotes
Explore Other Products
- ABSLI Guaranteed Milestone Plan
- ABSLI Assured FlexiSavings Plan
- ABSLI Vision MoneyBack Plus Plan
- ABSLI Vision LifeIncome Plan
- ABSLI Income Assured Plan
- ABSLI Jeevan Bachat Plan
- ABSLI Monthly Income Plan
- ABSLI SecurePlus Plan
- ABSLI Vision Endowment Plus Plan
- ABSLI Vision LifeSecure Plan
- ABSLI Assured Income Plus Plan