HSL Mobile App Aditya Birla Sun Life Insurance Company Limited Guaranteed Milestone Plan
ABSLI Guaranteed Milestone Plan that recognises the value of family’s happiness. Now, protection is guaranteed, even in your absence.
UIN: 109N106V01
Key Features
- 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.
- Flexibility to choose the policy term.
- Flexibility to enhance your insurance cover with appropriate rider options by paying an additional premium.
Other details
| Entry Age (age last birthday) | 30 days* - 60 years |
| * risk commences from the first policy anniversary | |
| Policy Term | 12, 14, 16, 18, 20, 22, 24 & 26 years |
| Minimum Basic Sum Assured (BSA) | ₹ 2,25,000 |
| Guaranteed Additions | Guaranteed Additions will accrue on 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 Guaranteed Additions shall accrue on the sum assured applicable for the primary life insured and shall be payable on policy maturity. |
| Death Benefit | In case of the unfortunate demise of the life insured during the policy term, the Sum Assured on Death will 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 | |
| For Joint Life | |
| Under this option, two lives i.e. you (primary life insured) and your spouse (secondary life insured) are covered 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 the nominee. | |
| 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 lumpsum | |
| • Primary life insured will become the sole policyholder. Policy will continue with all benefits (including the insurance cover on primary life insured) with premiums to be paid when due. Maturity benefit shall be paid to the primary life insured on maturity date. | |
| • On subsequent death of the primary life insured during the policy term, the applicable death benefit shall be paid to the nominee in annual installments and the same can be opted as lump sum payment as 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 – annual installments for the death benefit of primary life insured and lumpsum for the death benefit of secondary 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, we shall pay to you |
| • Maturity Sum Assured ; plus | |
| • Accrued Guaranteed Additions | |
| 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) paid by you. | |
| Surrender Benefit | Your policy will acquire a surrender value after all due premiums for at least two full years (three policy years for premium paying term of 10 years or more). The Guaranteed Surrender Value shall be a percentage of premiums paid (excluding loadings for modal premiums, applicable taxes and cess, any applicable rider premiums and underwriting extras, if any) plus the percentage of accrued Guaranteed Additions. |
| Policy Loans | You may take a loan against your policy once it has acquired a surrender value. The minimum loan amount is Rs.5,000 and the maximum up to 85% of your surrender value. |
| Premium Payment Options | Annual | Semi-annual | Quarterly | Monthly |
| Pay Term | 6 years for policy term of 12/14 |
| 8 years for policy term of 16/18 | |
| 10 years for policy term of 20/22 | |
| 12 years for policy term of 24/26 |
Disclaimers
HDFC Securities is a Corporate agent of Aditya Birla Sun Life Insurance Company under IRDAI Registration No: CA0062 and does not underwrite the risk or act as an insurer.
Registered Address: I Think Techno Campus, Building B " Alpha", Office Floor 8, Opp Crompton Greaves, Near Kanjurmarg Station, Kanjurmarg (East), Mumbai - 400 042. Participation by the 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 our 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 toll free no:- 1800-270-7000 ADV/3/17-18/2045
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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. |
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