What is ABSLI Fixed Maturity Plan?
ABSLI Fixed Maturity Plan is a life insurance savings plan that provides financial guarantees to help you achieve your dreams while offering life cover to protect your family in case of an unfortunate event.
Key Features
- Guaranteed# Returns: Secure returns irrespective of market conditions.
- Flexibility of Investment Amount and Policy Term: Choose based on your goals.
- Liquidity and Easy Surrender Process: High surrender value ensures premium protection.
- Life Cover: Provides protection for your family.
- Loan Against Policy: Available for emergencies.
- Zero Risk Investment: Ensures no investment risk.
Why Invest in ABSLI Fixed Maturity Plan?
Here are the top 4 reasons to consider this plan:
- Guaranteed# Maturity Benefits: Receive guaranteed benefits at maturity, regardless of market conditions.
- Life Cover: Protects your family against unfortunate events with various sum assured multiples.
- Flexibility: Choose from a wide range of policy terms according to your goals.
- Liquidity: High surrender value ensures that your premiums are safeguarded.
Benefits of ABSLI Fixed Maturity Plan
The plan provides comprehensive life cover and ensures financial security for your family in case of an eventuality.
How Does ABSLI Fixed Maturity Plan Work?
Use Case 1
- Mr. Rahul, aged 25 years, purchases the ABSLI Fixed Maturity Plan.
- He chooses a policy term of 5 years with Plan Option A.
- He pays a single premium of ₹2,00,000.
- At the end of the 5th year, he receives a guaranteed maturity benefit of ₹2,69,600.
Product Specifications
Coverage: All Individuals (Male | Female | Transgender)
Premium Payment Term (PPT) & Policy Term (PT):
- Single Pay:
- PPT: 5 years
- PT: 10 years
Age of the Life Insured at Entry (age as on last birthday):
- Minimum: 8 years¹
- Maximum:
- Option A: 60 years
- Option B: 50 years
Maturity Age of the Life Insured (age as on last birthday):
- Minimum: 18 years
- Maximum:
- Option A: 70 years
- Option B: 60 years
Minimum Annualized Premium: ₹12,000
Minimum Sum Assured: ₹15,000
Maximum Annualized Premium: No Limit (subject to Board Approved Underwriting Policy)
Premium Bands:
- Single Pay:
- Band 1: ₹12,000 to ₹29,999
- Band 2: ₹30,000 to ₹49,999
- Band 3: ₹50,000 to ₹99,999
- Band 4: ₹1,00,000 to ₹1,99,999
- Band 5: ₹2,00,000 to ₹4,99,999
- Band 6: ₹5,00,000 & above
Sum Assured Multiple:
- Option A: 1.25 to 1.77 times the single premium
- Option B: 10 to 10.42 times the single premium
What’s Not Covered?
In case of death due to suicide within 12 months from the date of commencement of risk, your nominee(s)/legal heir(s) or beneficiary will receive the higher of total premiums paid till date of death or the surrender value available on the date of death.