Why Buy ABSLI Guaranteed Milestone Plan?
ABSLI Guaranteed Milestone Plan provides comprehensive life cover with fully guaranteed financial benefits on both death and maturity, making it an ideal choice for planning your crucial life goals.
Key Features
- Guaranteed Benefits: Fully guaranteed benefits on death or maturity.
- Guaranteed Additions: Yearly additions that enhance your corpus.
- Joint Life Cover Option: Flexibility to include your spouse by paying an additional premium.
- Rider Options: Option to further enhance your coverage with additional riders by paying an extra premium.
Benefits of ABSLI Guaranteed Milestone Plan
- Boosted Corpus: Guaranteed additions to grow your savings over time.
- Comprehensive Coverage: Financial protection and guaranteed returns.
- Flexibility: Tailor the policy to meet your personal and financial goals.
Product Specifications
Entry Age (age last birthday): 30 days* – 60 years
Policy Term: 12, 14, 16, 18, 20, 22, 24, & 26 years
Premium Paying Term:
- 6 years for policy terms of 12/14 years
- 8 years for policy terms of 16/18 years
- 10 years for policy terms of 20/22 years
- 12 years for policy terms of 24/26 years
Minimum Maturity Age: 18 years
Minimum Premium: ₹15,000
Sum Assured: 15 X Annualized Premium
Minimum Sum Assured: ₹2,25,000
Minimum Sum Assured on Maturity: ₹90,000
Premium Mode: Annual, Semi-Annual, Quarterly, and Monthly
*Risk commences from the first policy anniversary
How Does ABSLI Guaranteed Milestone Plan Work?
Example Scenario:
- Entry Age: 35 years
- Annualized Premium: ₹50,000
- Gender: Male
- Premium Paying Term: 10 years
- Policy Term: 20 years
- Payment Frequency: Annual
- Sum Assured: ₹7,50,000
Illustrative Breakdown:
| Year | Annual Premium | Cumulative Premium Paid | Guaranteed Additions | Death Benefit | Maturity Benefit |
|---|---|---|---|---|---|
| 1 | ₹50,000 | ₹50,000 | ₹31,200 | ₹7,50,000 | – |
| 2 | ₹50,000 | ₹1,00,000 | ₹62,400 | ₹7,50,000 | – |
| 3 | ₹50,000 | ₹1,50,000 | ₹93,600 | ₹7,50,000 | – |
| 4 | ₹50,000 | ₹2,00,000 | ₹124,800 | ₹7,50,000 | – |
| 5 | ₹50,000 | ₹2,50,000 | ₹156,000 | ₹7,50,000 | – |
| … | … | … | … | … | … |
| 20 | – | – | ₹6,24,000 | – | ₹11,24,000 |
*The premium excludes underwriting extra premiums, frequency loadings on premiums, premiums for riders, and applicable taxes.
Suicide Exclusion
If the life insured dies by suicide within 12 months of the risk commencement date or policy revival, the policy will terminate. The company will pay the higher of the surrender value or the total premiums paid plus extra premiums and loadings, excluding taxes, if applicable.