- Investment cum Insurance plan providing financial security to your loved ones and providing upside of market related returns while shielding your returns from downside risks
- Premium paying term of 5 years
- Flexibility to choose between 3 investment options to suit your investment needs
- Sum Assured plus Fund Value payable on unfortunate death of the life insured
- Flexibility to add top-ups whenever you have additional savings
- Flexibility of partial withdrawals to meet any emergency fund requirements
- Tax benefits under section 80C and section 10(10D) of the Income Tax Act, 1961*
- Guaranteed Additions – in the form of additional units will be added to your policy:
- From 6th to 10th policy anniversary - Guaranteed Addition is 0.25% of the average Fund Value in the last 12 months
- From 11th to 15th policy anniversary - Guaranteed Addition is 0.55% of the average Fund Value in the last 12 months
- From 16th policy anniversary and every year thereafter - Guaranteed Addition is 0.75% of the average Fund Value in the last 12 months
After the completion of 5 policy years, non-negative residual additions, if any, shall be credited to the policy in order to meet the maximum reduction in yield as in Regulation 37 of IRDA (Linked Insurance Products) Regulations, 2013.
- Death Benefit (1) – Upon the unfortunate demise of the life insured prior to maturity, the nominee shall receive the Basic Sum Assured plus the Basic Fund Value as on the date of intimation of death. In addition the Top-up Sum Assured plus the Top-up Fund Value shall also be paid as on the date of intimation of death.
Death benefit shall never be less than 105% of total premiums paid to date (excluding service tax).
In case where the death of the Life Insured takes place prior to risk commencement date,only the basic premiums paid (excluding service tax, if any) shall be payable as the Death Benefit.
- Maturity Benefit – you will receive the Fund Value at maturity.
- Surrender Benefit – In case of emergencies, you can surrender your policy to ABSLI Co. anytime during the policy term. Any such surrender during the first five years will be treated according to the complete withdrawal as mentioned in Policy Discontinuance section. In case you surrender the policy after the completion of five years the Fund Value will be paid immediately.
(1) In case of death of the life insured, if life insured is different from the proposer/policyholder, the proposer/policyholder will receive the policy proceeds.