ABSLI - Jeevan Bachat Plan

As the future is uncertain, it is always wise to prepare for contingencies by securely investing your savings in a monthly or yearly plan and getting a lump sum amount in return later. This plan ensures you get a boost on your savings and helps you get a brighter future. 

ABSLI – Jeevan Bachat Plan Details:

Benefits of the ABSLI - Jeevan Bachat Plan

There are many benefits offered by Jeevan Bachat Plan by Aditya Birla Sun Life Insurance. The core benefits of the plan are explained below:

Death Benefit: If the insured person loses his life during the ABSLI – Jeevan Bachat Plan Policy term due to some unfortunate incident, then the insured's nominee will get the Death Benefit. This Benefit includes the Death Sum Assured plus the guaranteed additions accrued till the death date. 

Accidental Death Benefit: In case death occurs due to an accident during the term of the policy, and the life insured is an adult, then the nominee will get an Accidental Death Benefit, which is equal to the Death Sum Assured, along with the Death Benefit mentioned above. 

Maturity Benefit: Upon the insured person's survival throughout the policy term, the guaranteed accrued additions until maturity are paid along with the Maturity Sum Assured. This Maturity Sum Assured equals the amount of total paid premiums. 

Guaranteed Additions: In the case of Single Pay & Limited Pay policies, monthly accruals will be done to the policy for the guaranteed additions per thousand of Maturity Sum Assured after the Premium Payment Term till the policy's maturity date. It will be payable in case of the Policy maturity or the life insured's death after the premium paying term, whichever happens early.  

The Premium for ABSLI - Jeevan Bachat Plan

The ABSLI – Jeevan Bachat Plan premium can be paid using a variety of options available. They are categorized as follows:

Band 1 - The amount of Single Pay Premium starts from Rs. 20,000 to Rs. 49,999, and the annual premium range is Rs. 5,000-Rs.19, 999. 

Band 2 - Here, the Single Premium range is Rs. 50,000- Rs.79, 999, and the annual premium range are Rs. 20,000- Rs.39, 999. 

Band 3 - The Single Premium range is Rs. 80,000- Rs.1, 00,000 while the annual premium range is Rs. 40,000- Rs.1, 00,000. 

The ABSLI – Jeevan Bachat Plan calculator, is available online to assess and calculate the premium sum to be paid.

Additional Riders for ABSLI - Jeevan Bachat Plan

There is no provision of additional riders available for the ABSLI – Jeevan Bachat plan.

1. Eligibility for ABSLI - Jeevan Bachat Plan

   • Minimum age of entry- 1 year
   • Maximum age of entry- 55 years
   • Minimum maturity age- 18 years
   • Maximum maturity age- 65 years

What are the Documents Required to Buy this Policy?

To buy the ABSLI – Jeevan Bachat Plan policy, one must provide the following documents-

• Identity proof- AADHAR card, voter's card, or passport
• Address proof- AADHAR card, driver's license, ration card, or passport
• Income proof- Salary slips or income tax returns

How to Buy this Plan Online?

Online ABSLI – Jeevan Bachat Plan cannot be bought. It is an offline plan. The process to buy ABSLI – Jeevan Bachat plan is as follows-

Step 1: Visit the official website of Policybazaar.com 

Step 2: Select the premium sum and policy term

Step 3: With the assistance of the life advisor, fill the application form.

Step 4: Pay the amount to purchase it.

Exclusions of ABSLI - Jeevan Bachat Plan

The ABSLI – Jeevan Bachat Plan reviews let us know that the policy is extensive, but it does have a separate death clause by suicide. In the event of the death of the life insured by suicide, within a year of the policy start or the policy revival date, then the nominee will get the higher of premiums paid to date (except applicable taxes) or the Policy Surrender Value, given that the policy is in force.  

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