Assured Saving Plus Plan of Absli 2 Best Option
assured Saving Plus Key Features
1-Assured Saving Full Guaranted Benefits
2-Loyalty additions post premium payment term to boost your maturity corpus, provided all due premiums have been paid.
3-Higher maturity benefits from higher premium paying policies
4-Comprehensive risk cover in case of death of the life insured
5-Cover for spouse in the same policythrough joint life protection option.
6-Flexible -premium paymentterms,policy term,and sum assured multiples for customizing policy benefits.
7-Additional risk coversthrogh Riders
Assured Saving Plan Eligibility Criteria
1-Entry Age(age as per last birthday) 30 days to 65 years
Entry age for Joint Life : 18 to 50 years
2-Premium Paying To Singal Pay-Option-A Single Pay-Option-B
5years to 12 years
3-P0licy Term
Assured Saving Minimum Policy Term
If ppt=Single Pay of optionA/ OptionB,then , 5
If ppt = 5 years , then 10
If ppt = 6 to 12 years ,then,(ppt + 6)
Maximum Policy T ERM-
If ppt = Single Pauyof Option A/ Option B,THEN, 20
If ppt = 5 to 12 years , then,35
4-Minimum AnnualizedPremium
If ppt = Single 0ay , then Rs.100000-
If ppt = 5 Pay, thenRs.20000-If ppt = 6 to12 P 5-Maturity Age18 years to 85 years ABSLI Accidental Death Benefit Rider Plus
A claim can be submitted under this rider while it is effect and upon the first occurrence 0f the following events.
1-A death that is caused by bodily injery resulting from an accident.
2-A death that occurs due to the said bodily injury solely, directly, and independently of any other causes.
3-A death that occurs within 180 days of the occurance of such an Accident but before the expiry of the cover.
4-It is not a result of any of the causes listed in the executions for an accidental death benefit.
Assured Saving Tax Benefits
1-You may be entitled to certain applicable tax benefits on premiums paid and on benefits received under your policy
2-All the tax bene fits are subject to laws prevailing at time of payment of premium or receipt of benefits by you.
3-It is advisable to seek independent tax advice.
Exclusion Criteria for this Assured Saving Plan
1-In case of death due to suicide within 12 months from the date of commencement of the risk or from the date of revival of the policy., as applicable, the nominies /legal heirs or the beneficiaries of the policyholder shall be entitled to receive the total premiums paid till the date of death, or surrender value available on the date of death , whichever is higher , provided the policy is in-force.
2-For Joint Life protection . the suicide exclusion des cribed above applies in the event of death of either the Primary Life insured or the Secondary Life insured.
Document List required for Assured Saving Policy Issuance
Application Form-AML proofs
Payment method=NACH:ecs/nach Form+Cacelled Cheqe/bank Statement
PAN Number (Pan copy in case the name is not verified from NSDL)
NEFT Proof
CDF
PSM
Based on the specific case additional documentation might be required.
Document List required for Assured Saving Underwrite
Age Proof
KYCaddress
Live photo
Income proof wherever applicable
MHR, wherever applicable to be submitted by sales hierarchy
FIQ,wherever applicable-FJ,wherever applicable to be submitted by sales hierarchy
COVID Questionnaire, Vaccin MWP
Based on the specific case aation certificate preferable(mandatory in some cases), COVIDrecovery questionnaire ifthe insured has a history of C0VID
old medical reports in case of adverse medical history
Nri questionnaire,Tax identification number,copies of all pagesof passport,if the customer is nri /FNIO/ PIO /OCI
-Latest education proof if theproposer is a Grandparent
-NOC from parents if the proposer is a Grandparent
HUF addendum / HUF PAN if the policy is appllied under HUF
-MWP addendum if the policy is applied under MWP
-Based on the specific case additional documentation might be required
What is a Redused Paid -up policy?
-if the Customer discontinues paying premiums,after having paid premiums for at least 2 full policy years , the policy will not lepse but continues on a Redused Paid- Up (RPU) basis.
-Under Reduced Paid – Up:
-the RPU Sum Assured , RPU sum assured on death , and RPU Guaranted Maturity Benefit shall be equal to the Sum Assured ,Sum Assured on death , and Guaranted Maturity Benefit respectively multiplied by the RPU Factor . Where RPU Factor meansthe ratioof the numberof instalment Premium paid on the date,over the total number of instalment Premium originally due for the Policy Term.
-the policy will not be entitaled to any loyalty Additions once it has converted into Reduced Paid -Up Policy
-Rider benefit , if any , will cease
Option-1
–
Assured Saving Policy Details
Premium Paying Term—–12years Annal —Policy Term-25 years
What you give—-Pay AnnualPremiu
m of Rs-100000-for 12 years
What you get- Maturity benefit of Rs 3891000-at the end of 25 years
Guaranted Life cover at inception of policy of Rs1590000-
Maturity Addition to boost your maturity corpus
Flexibility of premium Payment Terms,Policy Term and Sum Assured Options to suit your requirements.You give Rs120000youGetRs3891000
Timeline Illustration
You get Guaranted Life Cover-Rs-1590000
You pay Rs-100000-Annual Premium age 1-upto-12 years
You get Meturity benefit of Rs-3891000
Plan Details-ABSLI Assured Saving Plan
Policy term -Premium———–First year————–2nd year onward—
Base premium——————-100000——————-100000————–
Rider premium ———————4170———————-4170————–
GST————————————-4688———————-2344————–
Total premium——————–108858——————106514————-
————————————————Riders———————————-
Rider nameSum Assured (Rs)Rider rerm( in years)Annuilised Premium
WOP———————100000—————–12———-Rs4170
Yearwise Case Flow
AGE-Single AnnuilisedMturity benefits-GuarantedDeath benefit
1——100000————-0———————-1590000————-
2——100000————-0———————-1590000————
3——100000————0———————–1590000————-
4——100000————0———————–1590000—————
5——100000————0———————–1590000————
6——100000————0———————–1590000————-
7——100000————0———————–1590000————
8——100000————0———————–1590000————
9——100000————0———————–1590000————
10—-100000————0———————–1590000————
11—-100000————0———————–1650000————
12—-100000————0———————–1800000———–
13—–0——————-0———————–1947000————-
14—–0——————-0———————–2094000———–
15—-0——————–0———————–2241000———
16—-0——————–0———————–2388000———–
17—-0——————–0———————–2535000————-
18—-0——————–0———————–2682000————–
19—-0——————–0———————–2829000————
20—-0——————–0———————–2976000————–
21—-0——————–0–———————3123000———–
22—-0——————–0———————–3270000————–
23—-0——————–0=———————3417000———–
24—-0——————–0———————–3564000——–
25—-0—————-3891000—————–3711000——–
Total-1200000—–3891000————————————-
Option-2
Policy Details.
12 years Annaul Premium Paying Term-25 years Policy Term.
—————————What you give——————————-
Pay Annual premium of Rs100000-for 12 years————–
—————————What you get————————————–
Maturity benefit of Rs3891000-at the end of 25 years——
Guaranteed Life cover at inception of policy of Rs1300000—
Loyalty additions to boost your maturity corpus .————–
Flexibility of premium Payment Term , Policy Term and Sum Assured Optionstosyit your requirement.
Illustration
Rs-1200000-you give—-Rs3891000-you get.———–
———————————-Time line Illustration———
You get guaranteed life cover of Rs1300000———-
You pay Annual annual premium of Rs100000——-
You get Maturity benefits of Rs 3891000—————
Absli Assured Plus Plan Details-
Policy Term(in years)
Premium——————–First year ———-2nd years onwards—
Base Premium———100000—————–100000————–
Rider Premium————1116——————–1116—————–
GST—————————-4550——————-2275—————
Total Premium———-105666—————–103391—————-
Riders
Riders name-Sum Assured(Rs-)Rider Term (in years-)premium
ADB plus—–rs1200000————-25—————————rs1116—-
——————Yearwise cash flow—————————————-
——————Yearwise cash flow—————————————-
AGE —Single Annualised Premium-Maturity benefit-death benefit
30——–100000—————————–0———————–1300000-
31——–100000—————————–0———————–1300000-
32——–100000—————————–0———————–1300000-
33——–100000—————————–0———————–1300000-
34——–100000—————————–0———————–1300000-
35——–100000—————————–0———————–1300000-
36——–100000—————————–0———————–1300000
37——–100000—————————–0———————–1300000
38——–100000—————————–0———————–1350000
39——-100000—————————-0————————-1500000
40——-100000—————————-0————————-1650000
41——-100000—————————-0————————-1800000
42————–0——————————0————————-1947000
43————–0——————————0————————-2094000
44————–0——————————0————————-2241000
45————–0——————————0————————-2388000
46————–0——————————0————————-2535000
47————–0——————————0————————-2682000
48————–0——————————0————————-2829000
49————–0——————————0————————-2976000
50————–0——————————0————————-3123000
51————–0——————————0————————-3270000
52————–0——————————0————————-3417000
53————–0——————————0————————-3564000
54————–0———————–Rs3891000——————3711000
Totals—1200000——————-Rs3891000—————————–
