ABSLI Guaranteed Milestone Plan is a life insurance plan that offers financial security to individuals and family members even without life assurance. The policy provides a high degree of flexibility in terms of overall policy management. It also offers two plans, one for single life and another for joint life. The single life policy assures the life of an individual, whereas the Joint Life policy assures the life of two persons.Read more
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ABSLI Guaranteed Milestone plan also offers guaranteed assured income payable as maturity benefit or death benefit. The policyholders can also opt for a loan facility to meet their urgent financial contingencies. This way, the policy takes care of various future financial needs of assured life and offers scope to meet those needs effectively.
|12 years, 14 years, 16 years, 18 years, 20 years, 22 years, 24 years, and 26 years
|Premium Payment Terms
|Premium Payment Mode
|Monthly, Quarterly, Semi-Annually, Annually,
|The policy offers loan applicable as per the surrender value.
There are different offered by ABSLU Guaranteed Milestone Plan. They are as follows:
Flexibility: ABSLI Guaranteed Milestone Policy offers flexibility to choose different premium modes, premium terms, and plans to meet various financial contingencies. The policy has plans for single life and joint life. The single life policy is applicable for individual life, and the Joint Life policy is applicable for two lives.
Maturity Benefit: The policyholders will get the sum assured on maturity and accrued guaranteed additions as maturity benefit at the end of the premium payment term.
Guaranteed Additions: It will offer accrued monthly additions for each policy month depending on the premiums paid and the Sum Assured. In the case of the Joint Life option chosen, the benefits will be offered based on the sum assured by the primary beneficiary.
Death Benefit: The policyholder's nominee will get the higher of the Assured Sum in Death, or 105% X total premiums paid, or 10 X annualized ABSLI Guaranteed Milestone Plan premium. For the Single Life policy, this sum would be paid to the nominee in 10 equal installments, given annually. It is applicable for joint life policy also. Here, the sum assured applicable for the spouse would be 20% of the Applicable Sum Assured. However, if the primary policyholder dies, then the secondary insured will not require providing any future premiums.
Loan Facility: The policyholders can take the loan facility once it acquires the surrender value. They can take a loan minimum of Rs. 5000 and the maximum 85% of Surrender Value.
Tax Benefits: ABSLI Guaranteed Milestone Policy offers tax benefits as per Section 80C, 80D, and 10(10D) of Income Tax Act 1961. The tax benefits will also follow the norms of Section 194DA.
The policyholders must pay the minimum premium amount of Rs. 15,000 and maximum premium amount as per company discretion if they buy ABSLI Guaranteed Milestone Plan.
The policyholders can pay ABSLI Guaranteed Milestone Plan premium through monthly, quarterly, semi-annually, and annual mode. They can also choose different terms of payment. However, they can assure a sum of fifteen times the annualized premium. It is recommended that the interested individuals must select the premium amount through the ABSLI Guaranteed Milestone Plan calculator available online.
ABSLI Guaranteed Milestone Policy offers the following additional riders.
The applicants must provide the following documents to complete the KYC process of the chosen policy successfully.
The policyholders must follow the steps below by clicking the "Buy Now" button on the company website to buy ABSLI Guaranteed Milestone Plan.
Step 1: Visit the official website of Policybazaar.com
Step2: The policyholders must calculate the premium amount based on terms, modes, assured sum, age, and other factors through the ABSLI Guaranteed Milestone Plan calculator.
Step3: In this stage, they can also customize the plan and add applicable riders as suitable.
Step4: They must provide personal details, contact details, identity proof, and other required information for documentation and communication purposes.
Step5: The policyholders are required to make payments and purchase the policy at the online ABSLI Guaranteed Milestone Plan payment platform through debit, credit, or net banking solutions.
The policyholders are advised to read ABSLI Guaranteed Milestone Plan reviews available online before buying the policy.
The policy excludes benefits in case of death due to a suicide attempt. It will offer a higher total premium paid or surrender value at the date of death if the death occurs within one year from the policy revival date or risk commencement date. If a joint life policy is chosen, the benefit will be offered either the death of the primary or secondary policyholder.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
*Tax benefit is subject to changes in tax laws
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
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