ABSLI Wealth Aspire Plan
Limited pay plan that helps wealth creation with multiple options
Age LimitAge Limit
Minimum – 30 days*
Minimum -18 years
Minimum - 10 years
Minimum - 10 years
Maturity AgeMaturity Age
- For Classic Option: 18 to 70 years
- For Assured Option: 28 to 60 years
*Risk commences from the first policy anniversary
- Pay your premiums over a period of 5 to 40 years
- Pay monthly, quarterly, semi-annually or annually
- ₹ 30,000 for annual mode
- ₹ 36,000 for semi-annual mode
- ₹48,000 for quarterly and monthly mode
Minimum Sum AssuredMinimum Sum Assured
Enjoy minimum sum assured of ₹ 3,00,000
Minimum top-up premiumMinimum top-up premium
Guaranteed AdditionsGuaranteed Additions
Get rewarded for policy continuance in the form of additional units.
Death benefit for Classic OptionDeath benefit for Classic Option
- Policyholder/Nominee will receive greater of Sum Assured (less withdrawals) or Fund Value or 105% of total premium paid
- Get Basic Fund Value as on date of intimation of death; or Basic Sum Assured. In case of top-ups, get top-up fund value or top-up fund assured
Death benefit for Assured OptionDeath benefit for Assured Option
- In the event of a death, Death benefit shall never be less than 105% of total premiums paid to date. The policy will not terminate once this death benefit is paid to the nominee and it continues till policy maturity date.
- On continuation of the policy:
- Risk cover ceases immediately.
- Future instalment premiums shall be paid by Birla Sun Life when due to be paid.
- Fund Value will remain invested in the segregated funds and investment option existing at the time of death of the Life Insured.
- Guaranteed Additions, when applicable shall be added to the Fund Value as and when due.
- All policy charges shall be deducted as and when due, except mortality charge.
- Top up premiums, partial withdrawals, surrenders, switch between investment options, segregated fund switch or any premium redirection by the nominee is not allowed.
- Maturity benefit shall be paid to the nominee.
- The Death Benefit shall always be determined as on the date Birla Sun Life receives intimation of death of the Life Insured.
Maturity benefitMaturity benefit
You will receive the Fund Value at maturity. You can choose to receive the maturity benefit as lump sum or as periodic instalments over a period of 5 years from date of maturity through settlement option.
Surrender BenefitSurrender Benefit
In case of emergencies, you can surrender your policy to Birla Sun Life anytime during the policy term.
Partial withdrawalPartial withdrawal
Make partial withdrawals for emergencies after five years of first premium payment
- What is Basic Fund Value?
Basic Fund Value is equal to the number of units pertaining to basic premiums allocated to the segregated fund/s chosen by you multiplied by its then prevailing unit price
- What is Top Up Fund Value?
Top-up Fund Value, if any, is equal to the number of units pertaining to top-up premiums allocated to the segregated fund/s chosen by you multiplied by its then prevailing unit price.
- What is Policy Fund Value?
Policy Fund Value under this plan is the total of Basic Fund Value and Top-Up Fund Value, if any. The Policy Fund Value represents the total value of your investments to date, and is the balance of all units allocated to the segregated fund/s chosen by you multiplied by its then prevailing unit price.
- Is this a plan for smokers?
This plan is issued to both smoker and non-smoker
- What are different policy terms for this life insurance plan?
Minimum: 10 years
Maximum: 40 years
- How much top-up can I add for savings with this plan?
With this wealth creation plan, you get the flexibility to add top-ups whenever you have additional savings. The minimum top-up premium is Rs. 5,000.
- What type of investment options does it cover?
Under ABSLI Wealth Aspire Plan, you decide how to invest your premiums in one of the four investment options - Smart Option, Systematic Transfer Option, Return Optimiser Option or the Self-Managed Option Under Smart option, your portfolio will be structured as per your maturity date and risk profile. Over time the allocation is managed such that it will automatically switch from riskier assets to safer assets progressively as your plan approaches maturity. Systematic Transfer Option is for individuals who would like to eliminate the need to time one’s investments in the market. Return Optimiser option is for individuals who would like to have optimal participation in the capital markets while safeguarding their returns from any market-related volatilities. Self-Managed Option is for individuals who would like to have control over their investment.
HDFC Bank Limited (IRDAI Registration No: CA0010) is the Corporate Agent of Aditya Birla Sun Life Insurance Company Limited and does not underwrite the risk or act as an insurer.
Registered Address: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Participation by the Bank’s clients in the Insurance products is purely on a voluntary basis. The contract of Insurance is between Aditya Birla Sun Life Insurance Company Limited and the Insured and not between HDFC Bank and the Insured.
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating unit linked life insurance plan. Aditya Birla Sun Life Insurance and ABSLI Wealth Aspire Plan are only the names of the Company and Policy respectively and do not in any way indicate their quality, future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document. The various funds offered under this contract are the names of the funds and do not any way indicate the quality of these plans, their future prospects and returns. The name of the funds offered in this plan does not in any indicate their quality, future prospects or returns. The charges are guaranteed throughout the term of the policy unless specifically mentioned and subject to IRDAI approval. The value of the segregated fund reflects the value of the underlying investments. These investments are subject to market risks and change in fundamentals such as tax rates etc affecting the investment portfolio. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the NAV’s of the units may go up or down based on the performance of segregated fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. There is no guarantee or assurance of returns above the guaranteed returns from the segregated funds. Goods and Service Tax and any other applicable taxes levied as per extant tax laws shall be deducted from the premium or from the allotted units as applicable. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives. The insurance cover for the life insured will commence on the policy issue date. This brochure contains the salient features of the plan. For further details please refer to the policy contract. ULIP Issued on or after 1st February 2021 where the annualised premium exceeds Rs 2.5 lakh at any time during the premium paying term, the amount received on maturity shall not be entitled for exemption under section 10(10D) of the Income-tax Act, 1961. However, death benefit received shall be exempt u/s 10(10D). Tax benefits are subject to changes in the tax laws. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding the sale. Aditya 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.Call Centre: 1-800-270-7000 www.adityabirlasunlifeinsurance.com Reg. No. 109 | CIN: U99999MH2000PLC128110 UIN: 109L100V05 ADV/11/19-20/1236 VER1/NOV/2019
BEWARE OF SPURIOUS / FRAUD PHONE CALLS!
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
“As per recent changes in section 10(10D) of Income Tax Act, where the amount of aggregate annual premium payable in the financial year in case of Traditional plans (all non-unit linked plans except Annuity, Pension and Pure Risk Plans) issued on or after 1st April 2023 exceeding INR 5,00,000 the benefits of the policy/policies shall not be eligible for exemption under section 10(10D) except in case of death”. The customer is requested to seek advice of a tax advisor with respect to his/her personal tax liabilities under the Indian Income-tax law."