Product Information
Saving And Investment Plans
ABSLI Guaranteed Milestone Plan
Synopsis:
Nothing is more important that your family's happiness. You work hard to earn and strive to fulfil everything your loved ones wish for. In today's unpredictable times, having your family's future and dreams secured is very essential. This plan recognises the value of family's happiness. Now, protection for your family is guaranteed, even in your absence.
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.
Benefits:
- Death Benefit:
- For Single Life<>br/ 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 instalments.
- 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. - Maturity Benefit:
In the event the life insured survives to the end of the policy term, we shall pay to you 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) paid by you. - 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.
Eligibility:
| Entry Age (age last birthday): | 30 days - 60 years |
| Policy Term : | 12, 14, 16, 18, 20, 22, 24 & 26 years |
| Premium Paying 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 |