ABSLI Guaranteed Milestone Plan

Every individual wants to ensure that their family’s financial future is protected and their dreams are secured. Get guaranteed returns on death or maturity with ABSLI Guaranteed Milestone Plan.

• Fully guaranteed benefits on death or maturity
• Guaranteed Additions that boost your corpus year on year
• Flexibility to cover your spouse also by choosing Joint Life Protection by paying an additional premium
• Flexibility to choose the policy term
• Flexibility to enhance your insurance cover with appropriate rider options by paying an additional premium

Death Benefit –

• For Single Life
  In case of the unfortunate demise of the life insured during the policy term, the Sum Assured on Deathwill be paid to the nominee in 10 equal annual installments.
  
  Sum Assured on Death will be highest of:
  • Sum Assured(15 x annual premium); or
  • 105% of the total premiums paid as on the date of death (excluding loadings for modal premiums,applicable taxes, any applicable rider premiums and underwriting extras, if any); or
  • Maturity Sum Assured(1)
  
  On acceptance of the death claim the first annual installment shall be paid immediately along with theexcess amount, if any, of Maturity Sum Assured plus accrued Guaranteed Additions over the Sum Assured.
  
  In case the nominee would like to get a lump sum payment instead of the annual installments, the discounted value of the outstanding annual installments will be paid as a lump sum. The discounted value currently shall be calculated using an interest rate of 8.75% per annum. This interest rate is subject to change in future with prior IRDA of India approval.
  
  In case the nominee would like to get a lump sum payment instead of the annual installments, the discounted value of the outstanding annual installments will be paid as a lump sum.
  
  In case where the death of the Life Insured takes place prior to risk commencement date, only thepremiums paid to date (excluding applicable taxes) shall be payable as the Death Benefit.
• For Joint Life
  Under this option, two lives i.e. you (primary life insured) and your spouse (secondary life insured) arecovered under the same policy and also jointly own the policy. The sum assured applicable for your spouse shall be equal to 20% of your applicable sum assured. You can opt for this option at the inception of the policy subject to the attained age of primary life insured & secondary life insured is less than or equal to 50 years. No rider can be opted under this option and this option cannot be discontinued except due to the unfortunate demise of either of the lives who are insured.
  
  Unfortunate death of the primary life insured prior to the secondary life insured:
  • Death benefit shall be paid in annual installments to the spouse (secondary life insured) and the same can be opted as lump sum payment as explained above.
  • Secondary life insured will become the sole policyholder and receive the maturity benefit.
  • Life cover for the secondary life insured will continue without any future premiums to be paid.
  • On subsequent death of the secondary life insured during the policy term the applicable death benefit shall be paid to the nominee as a lump sum. On maturity date the maturity benefit shall be paid to thenominee.
  
  Unfortunate death of the secondary life insured prior to the primary life insured
  • Applicable death benefit shall be paid immediately to the primary life insured as a lump sum.
  • Primary life insured will become the sole policyholder. Policy will continue with all benefits (includingthe insurance cover on primary life insured) with premiums to be paid when due. Maturity benefit shallbe paid to the primary life insured on maturity date.
  • On subsequent death of the primary life insured during the policy term, the applicable death benefitshall be paid to the nominee in annual installments and the same can be opted as lump sum payments explained above. On maturity date the maturity benefit shall be paid to the nominee
  
  Unfortunate death of both the primary and secondary life insured together
  • Applicable death benefit for the respective lives insured shall be paid to the nominee – annualinstallments for the death benefit of primary life insured and lump sum for the death benefit ofsecondary life insured respectively
  • Policy will continue without any future premiums to be paid and on maturity date, the maturity benefit shall be paid to the nominee
• Maturity Benefit -
  In the event the life insured survives to the end of the policy term, maturity benefit is:
  • Maturity Sum Assured (1); plus
  • Accrued Guaranteed Additions
  
  ⁽¹⁾Maturity Sum Assured is the sum of all the premiums payable (excluding loadings for modal premiums, applicable taxes, any applicable rider premiums and underwriting extras, if any).
• Guaranteed Additions -
  Guaranteed Additions will accrue on a monthly basis to the policy on each policy month till maturity; provided all due premiums have been paid and shall be payable in event of death of life insured or policy maturity whichever is earlier. Guaranteed Additions per annum shall be determined based on the premium amount you commit to pay, premium band, sum assured, the entry Age of the life insured, Joint Life Protection option and policy term chosen. In case of Joint Life Protection option, the GuaranteedAdditions shall accrue on the sum assured applicable for the primary life insured and shall be payable on policy maturity.
  
  Please visit your nearest HDFC Bank branch for an illustration of the Guaranteed Additions applicable to your policy or refer to your policy contract for further details.

Minimum Entry Age	30 days*
Maximum Entry Age	60 Years
Minimum Maturity Age	18 Years
Maximum Maturity Age	86 years

Parameters		Minimum	Maximum
Single Life / Joint Life	Both options are available
Premiums	Limited Pay	Rs 15,000	No Limit
Sum Assured		15 X Annual Premium	No Limit
Minimum Sum Assured		Rs. 2,25,000	No Limit
Minimum Maturity Sum Assured		Rs. 90,000	No Limit
Riders	BSLI Accidental Death and Disability Rider (UIN: 109B018V03) BSLI Critical Illness Rider (UIN: 109B019V03) BSLI Surgical Care Rider (UIN: 109B015V03) BSLI Hospital Care Rider (UIN: 109B016V03) BSLI Waiver of Premium Rider (UIN: 109B017V02) BSLI Accidental Death Benefit Rider Plus (UIN: 109B023V01)
Premium Paying term	6 years	12 Years	14 Years
	8 years	16 Years	18 Years
	10 years	20 Years	22 Years
	12 years	24 Years	26 Years
Premium Mode	Annual, Semi Annual, Quarterly and Monthly

Details of the Commission earned by the Bank as corporate agent from Life Insurance distribution business are as follows:

Category	First Year Commission		2nd Year Renewal Commission		Single Premium Commission
	Min	Max	Min	Max	Min	Max
Pension	15%	35%	1%	3%	2%	2%
Protection	12%	35%	1%	5%	2%	7.50%
Savings & Investment	15%	35%	1%	7.50%	2%	2%
Health	15%	35%	1%	5.00%	-	-

Please note, commission payable for group products is 5%

Note: The commission varies depending upon the product in each category, tenure, amount of premium and premium paying term. 

*For Group Products commission payable is with a ceiling on the maximum payout as defined by Insurance Regulatory and Development Authority of India (IRDAI) from time to time

HDFC Bank Ltd. is a corporate agent of Aditya Birla Sun Life Insurance Company under IRDAI Registration No: CA0010 and does not underwrite the risk or act as an insurer.

Registered Address: HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Lower Parel, Mumbai, Maharashtra 400013. Participation by the Bank’s clients in the insurance products is purely on a voluntary basis.

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked non –participating traditional insurance plan. All terms & conditions are guaranteed throughout the policy term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per the then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc. The insurance cover for the life insured will commence on the policy issue date. For further details please refer to the policy contract. Tax benefits are subject to changes in the tax laws. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding the sales. Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Registered Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI reg no.109 CIN: U99999MH2000PLC128110 UIN: 109N106V02 ADV/11/17-18/1232

"The Trade Logo "Aditya Birla Capital" Displayed Above Is Owned By ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) And Used By ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the License."

• IRDAI hereby clarifies to the public that
• IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
• IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call and number.