ULIP or Wealth Protection Plan is a two-in-one plan that offers wealth protection along with investment opportunities in the capital market. Aditya Birla Sun Life Insurance (ABSLI) Wealth Assure Plus is a ULIP plan that provides the best of both insurance coverage and investment. The plan enables long-term wealth accumulation along with protection against death, critical illness, and permanent disability.Read more
Guaranteed Tax SavingsUnder sec 80C & 10(10D)
₹1 CroreInvest ₹10k Per Month*
Zero LTCG TaxUnlike 10% in Mutual Funds
The ABSLI Wealth Assure Plus plan can be customized according to the needs of the insured. The ABSLI Wealth Assure Plus policy is ideal for securing one’s financial future and achieving his life goals at various phases.
|Policy Tenure||15, 20, 25, 30, or 35 years|
|Premium Paying Term||10 or 15 years (for a policy term of 15 years)
10, 15, or 20 years (for a policy term of 20, 25, 30, or 35 years)
|Premium Paying Mode||Quarterly, Monthly, Semiannually, and Annually|
|Entry Age (Minimum)||Classic option: 30 days
Assured option: 18 years
*Policy term 15 years not available below 3 years age
|Entry Age (Maximum)||Classic Option: 55 years
Assured Option: 50 years
|Maturity Age (Minimum)||Classic option: 18 years
Assured option: 33 years
|Maturity Age (Maximum)||Classic Option: 75 years
Assured Option: 65 years
|Grace Period||30 Days (15 Days for Monthly Mode)|
|Sum Assured||Minimum: Rs. 2,40,000 P.A.|
|Liquidity||Partial withdrawals are allowed after 5 complete policy years or insured attaining 18 years of age, whichever is later.|
ABSLI Wealth Assure Plus Policy offers the following benefits to its buyers:
Additional units as a percentage of the basic premium are added to the policy automatically post its maturity. The guaranteed additions for the premium Band- 1 can range from 10% to 50% as per the different policy terms.
For Premium Band-2, the guaranteed additions are increased by 10% of the basic premium upon plan maturity.
In the unfortunate event of the death of the insured, the nominee will receive:
Basic Sum Assured
Basic Fund Value as on the date of death intimation
Top-up Sum Assured
Top-up Fund Value as on the date of death intimation
The policyholder will receive the Basic Fund Value as well as the Top-Up Fund Value as on the date of policy maturity.
If the policyholder decides to surrender the policy, the policy fund of the discontinued policy will be payable at the end of the lock-in period or the date of surrender, whichever is later.
If the insured is suffering from any of the specified Critical Illnesses or Total Permanent Disability (TPD) during the policy term, all future premiums will be paid by the insurance company. This benefit is available only for the Assured option of the plan and is applicable on the first occurrence of the TPD or Critical Illness, whichever is earlier.
The premiums paid and the benefits received under the ASBLI Wealth Assure Plus policy are eligible for tax benefits under Section 10(10D) and Sec 80 C of the Income Tax Act, 1961.
The tax benefit is subject to changes in tax laws
The basic minimum amount payable for the ABSLI Wealth Assure Plus plan premium will be Rs. 24,000 P.A.
The minimum top-up premium amount payable for the ABSLI Wealth Assure Plus plan will be Rs. 5,000 P.A.
*Standard T&C Apply
The exact amount of premium will depend upon the plan option (Classic or Assured) chosen by the policyholder.
Subscribers can use the ABSLI Wealth Assure Plus Plan Calculator available online to get an idea about the premium sum to be paid.
The following additional riders can enhance ABSLI at a minimal cost:
In the event of the unfortunate death of the insured due to an accident, the company pays 100% of the rider sum assured to the nominee.
In case the policyholder becomes disabled due to an accident, diagnosed with any of the specified illnesses, the insurance company pays off all future premiums.
Minimum 30 days
Maximum is 55 years
Minimum of 18 years
Maximum 50 years
Minimum of 18 years
Maximum is 75 years
Minimum of 33 years
Maximum 65 years
To buy ABSLI Wealth Assure Plus Policy, applicants must provide:
Document for identity proof such as AADHAR card, Passport, or Driver license
Document for Address proof such as AADHAR card, passport, driving license, or voter’s card.
Document for Income proof, such as Income tax returns and salary slips
To buy online ABSLI Wealth Assure Plus policy, the applicant must:
Log in to the official portal of Policybazaar.com
Choose ABSLI Wealth Assure Policy
Enter his details to get an approximate quote for the annual premium
Choose the Plan type and the Investment option
Choose Policy Term, Premium Paying Term, Mode, and Frequency
Choose the Basic Sum Assured amount
The proposer must then enter his complete personal and health details
The premium payable will be calculated, and he must pay the amount to activate the plan
A confirmation message with the policy number and other details to his mobile phone and Email Id
The ABSLI Wealth Assure Plus reviews indicate mainly the Suicide Exclusion clause that states that in the event of the death of the insured due to suicide occurs within 12 months of the policy commencement or renewal, the policyholder, or the beneficiary will be entitled to the policy fund value as on the date of death intimation.
Some of the exclusions applicable to the Assured option for the Total and Permanent Disability and Critical Illness benefit are as follows:
AIDS or Sexually transmitted diseases
Suicide or self-inflicted injuries
Injury due to criminal activity
Illness due to the consumption of liquor or narcotic substance
Injury due to participation in a hazardous or adventurous sport
*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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