Aditya Birla Wealth Smart Plus Plan

ABSLI Wealth Smart Plus is a unit-linked, individual, non-participating life insurance plan that helps you invest and grow your wealth while keeping your life covered. This plan gives you the flexibility to achieve your financial goals with ease, like planning for retirement, educating your child, or building your dream home. Learn more about the Aditya Birla Wealth Smart Plus plan in this article.

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  • Plan starting from ₹1,000/month
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Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

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Disclaimer :
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

What is Aditya Birla Wealth Smart Plus Plan?

Aditya Birla Wealth Smart Plus Plan is a Unit Linked Insurance Plan (ULIP) that allows you to invest in market-linked funds while also providing life insurance coverage. This plan aims to provide you with a wide range of best investment options and financial security for your family in case of any unforeseen events. The ABSLI Wealth Smart Plus Plan also offers you tax savings under Section 80C and 10(10D) of the Income Tax Act.

Features of Aditya Birla Wealth Smart Plus Plan

The key features of the ABSLI Wealth Smart Plus Plan are listed below:

  • Two plan options are available: the Smart Life Option, offering coverage up to age 75, and the Whole Life Option, providing coverage up to age 100.

  • No premium allocation charges and no policy administration charges are applicable throughout the policy term.

  • You can choose from 5 different investment strategies and 19 funds to match your diverse investment goals.

  • A systematic withdrawal facility allows you to make regular withdrawals from your fund value during the policy term to meet ongoing financial needs.

  • Tax benefits may apply on premiums paid and benefits received, subject to current tax laws.

  • Flexibility to make partial withdrawals is available to help with any emergency financial requirements.

Eligibility Criteria of Aditya Birla Wealth Smart Plus Plan

Particulars Features
Coverage Male/ Female/ Transgender
Entry Age
    • Smart Life Option: 30 days – 60 years

  • Whole Life Option: 

    • Limited 5 Pay: 18 – 50 years;
    • Limited 6 Pay: 18 – 45 years;
    • Regular Pay: 18 – 45 years.
Maturity Age Smart Life Option: 18 – 75 years;
Whole Life Option: 100 years.
Premium Payment Frequency Annual; Semi-Annual; Quarterly; Monthly
Premium Amount* - Annually: ₹12,000 – No Limit;
- Semi-annually: ₹6,000 – No Limit;
- Quarterly: ₹3,000 – No Limit;
- Monthly: ₹1,000 – No Limit.
Sum Assured**
  • Smart Life Option:

    • 30 days – 50 years Entry Age: ₹1,20,000 – No Limit;
    • 51 years and above Entry Age: ₹84,000 – No Limit.
  • Whole Life Option: ₹1,20,000 – No Limit.

Premium Payment Term (PPT)
  • Smart Life Option: 

    • Limited Pay: 5 – 15 years;
    • Regular Pay: 10 – 40 years.
  • Whole Life Option:

    • Limited: 5 – 15 years;
    • Regular Pay: 100 minus (-) Entry Age.
Policy Term
  • Smart Life Option:

    • Limited Pay 5 – 9 Years PPT: 10 – 40 years;
    • Limited Pay 10 – 15 Years PPT: PPT + 1 to 40 years;
    • Regular Pay: 10 – 40 years.
  • Whole Life Option: 100 minus (-) Entry Age.

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*Maximum amount is subject to Board Approved Underwriting Policy (BAUP).
**Maximum sum assured is subject to Board Approved Underwriting Policy (BAUP).

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Benefits of Aditya Birla Wealth Smart Plus Plan

Following are the key benefits offered with the Aditya Birla Wealth Smart Plus Plan:

  • Death Benefit: Upon the death of the Life Insured during the policy term, the nominee or legal heir will receive the higher of:

    • The Fund Value as on the date of death notification.

    • The Sum Assured (reduced by any partial withdrawals in the two years before death).

    • 105% of the total premiums paid, minus any partial withdrawals in the two years before death.

  • Maturity Benefit: If the Life Insured survives the policy term and all premiums are paid, the Fund Value will be paid in a lump sum or as a structured payout through the Settlement Option.

  • Tax Benefits: The ABSLI Wealth Smart Plus Plan offers tax deductions on premiums paid under Section 80C (up to ₹1.5 lakh) and tax exemptions on both maturity and death benefits under Section 10(10D). These benefits help you save on taxes while ensuring financial security for your family.

  • Premium Allocation: Under the Self-Managed Option, you allocate your premium across segregated funds with a minimum of 5% per fund, totalling 100%. With the Smart or Life Cycle Option, you choose your risk profile (Conservative, Moderate, Aggressive) and the premium is split between Maximiser (equity) and Income Advantage (debt) funds. In the Systematic Transfer Option, you allocate up to four segregated funds with a minimum of 5% per fund, ensuring a total of 100%.

  • Fund Switching: You can switch between funds in the Self-Managed or Systematic Transfer options, with a minimum switch amount of ₹5,000. Unlimited free switches are allowed each year, except during the first five policy years or if the funds are in Liquid Plus.

  • Premium Redirection: Under the Self-Managed Option, you can redirect future premiums across 19 fund options, while the Systematic Transfer Option allows redirection across 4 funds, except when invested in Liquid Plus. You can make up to 12 free premium redirections annually.

  • Settlement Option: Before maturity, you can opt for a Settlement Option where your funds are managed for up to 5 years post-maturity. You will receive regular payouts (monthly, quarterly, semi-annually, or annually), with equal unit divisions for each payout. Fund management charges and mortality charges will apply, with a risk cover of 105% of total premiums paid.

  • Partial Withdrawal: After completing 5 policy years, you can make unlimited partial withdrawals if you are 18 or older, with a minimum withdrawal of ₹5,000 and up to 25% of the Fund Value.

Rider Benefits of Aditya Birla Wealth Smart Plus Plan

  • ABSLI Accidental Death Benefit Rider: In case of death due to an accident within 180 days, 100% of the rider sum assured will be paid to the nominee. Additionally, premiums paid after the accident, along with interest, will be refunded.

  • ABSLI Waiver of Premium Rider: If the policyholder becomes completely disabled, is diagnosed with a critical illness, or dies (if not the Life Insured), all future premiums will be waived, and benefits will continue.

Note:

  • Rider Coverage: Riders will provide independent cover, and multiple rider benefits can be claimed if applicable.

  • Rider Limits: Rider premiums for health or critical illness must not exceed the base premium, while other rider premiums combined are capped at 30% of the base premium.

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Portfolio Management Strategies of Aditya Birla Wealth Smart Plus Plan

The ABSLI Wealth Smart Plus Plan offers the following 5 portfolio management strategies:

  • Systematic Transfer Investment Option: Systematic Transfer Investment Option allows you to gradually transfer your investments from a low-risk fund to an equity fund. It helps reduce market risk while aiming for better returns over time. The option is ideal for those who want to invest without worrying about market timing.

  • Return Optimiser Investment Option: The Return Optimiser Investment Option automatically shifts your investments from high-risk to safer funds when the market performs well, protecting your gains while still growing your wealth.  It is perfect for individuals seeking market participation with protection against volatility.

  • Self-Managed Investment Option: Self-Managed Investment Option gives you complete control to choose and manage your own investment funds based on your risk appetite and financial goals. It is best for those who prefer full control over their investment decisions.

  • Smart Investment Option: Smart Investment Option automatically rebalances your investments between debt and equity funds based on a predetermined strategy, helping you maximize returns with minimal effort. It is designed for people who want their investments to adapt to their changing financial needs with age.

  • Life Cycle Investment Option: The Life Cycle Investment Option automatically adjusts your investments as you age, with higher equity exposure when you're younger and a shift to safer funds as you get older, providing a balanced approach throughout life. It is suited for those looking to balance equity and debt based on their age for an optimal portfolio.

Policy Details of Aditya Birla Wealth Smart Plus Plan

  • Policy Discontinuance: If you miss a premium payment, you get a 30-day Grace Period (15 days for monthly mode) during which all benefits continue, with charges deducted. If the premium isn’t paid by the end of the grace period, the policy will be handled as follows:

    • During the First 5 Years: If premiums are unpaid after the grace period, the Fund Value minus applicable charges will move to the Discontinued Policy Fund, and risk cover will cease. You’ll have three years to revive the policy.

    • After the First 5 Years: If premiums remain unpaid, the policy converts to a reduced paid-up policy. The Sum Assured reduces proportionally to premiums paid. Charges continue during the revival period, but mortality charges apply to the reduced sum only.

  • Policy Termination: Your policy will terminate at the earliest of these events:

    • Full withdrawal under the discontinuance rules

    • Fund Value reaches zero

    • Death Benefit, Surrender Benefit, or Maturity Benefit is paid

    • Free-look cancellation refund is processed

  • Force Majeure: In case of unforeseen events like natural disasters, war, pandemics, cyber-attacks, or government regulations, actions outside our control may impact policy operations.

  • Grace Period: You will have 30 days (15 days for monthly mode) to pay overdue premiums. During this period, all benefits, including risk cover, continue with charge deductions.

  • Free-Look Period: You can return the policy within 30 days of receipt if you disagree with the terms. We will refund the premium after deducting charges for risk cover, medical exams (if any), and stamp duty.

How the Plan Works

The working of the ABSLI Wealth Smart Plus Plan is mentioned in the following three steps;

  • Step 1: Choose your plan option from Smart Life Option and Whole Life Option.

  • Step 2: Select your Annualized Premium, Premium Payment Term, Policy Term and Premium Payment Mode.

  • Step 3: Choose your market-linked funds, investment strategy, and fund allocation.

  • Step 4: At the end of the policy term, you receive the accumulated fund value as a maturity benefit. In case of an unfortunate event, the nominee gets the death benefit, ensuring financial security for your loved ones.

Suicide Exclusion Criteria

In case of death due to suicide within 12 months from the policy commencement or revival, the nominee will receive the Fund Value as of the date of death notification. Additionally, any charges (except Fund Management Charges) deducted after the date of death will be refunded to the Fund Value.

FAQs

  • What is the Aditya Birla Wealth Smart Plus Plan?

    ABSLI Wealth Smart Plus Plan is a Unit Linked Insurance Plan (ULIP) that offers a blend of life insurance and investment opportunities for long-term wealth creation.
  • What is the policy term for this plan?

    The policy term for Aditya Birla Life Smart Plus Plan ranges from 5 to 30 years, allowing flexibility based on your financial goals.
  • What investment options does this plan offer?

    The plan offers multiple fund choices, allowing you to invest in equity, debt, or balanced funds based on your risk appetite.
  • Is there a partial withdrawal facility available?

    Yes, partial withdrawals are allowed after the completion of 5 policy years.
  • Can I switch between funds?

    Yes, you can switch between different funds as per your changing financial goals and market conditions.
  • What are the tax benefits of this plan?

    Premiums paid and benefits received may qualify for tax deductions under Section 80C and 10(10D) of the Income Tax Act, subject to prevailing laws.
  • Who should consider buying this plan?

    This plan is suitable for individuals looking for long-term wealth creation with life insurance protection.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*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
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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Aditya Birla Wealth Smart Plus Plan Reviews & Ratings

4.5 / 5 (Based on 26 Reviews)
(Showing Newest 10 reviews)
Rajveer
Ahmedabad, October 20, 2016
Superb Plan
Having great experience with my ulip insurance, purchased by birla sun life insurance company. Service is facilitated 24X7 by the executives. Coverage is maximum and claims are high. Online services are really very good and even the renewals are done through online portal of the company.
Eklavaya
Bisalpur, August 25, 2016
Quality Investment
After a long search on web, i finally found good ulip insurance policy. I took it for me and my family. Service is unimaginable and always on time. The online portal give easy renewals of the policy and reduces paperwork. The insurance plan cut down my taxes also.
Vijay
Panipat, August 19, 2016
Best Plan
Policy coverage is approx. 89% and the claims are even better. Service facilitate by the staff members of the company is quick and behaviour is nice. Great work birla sun life insurance and best ulip insurance policy. The online renewal option is very simple to use.
Yajjan
Haridwar, July 18, 2016
Claims Are Good
The birla sun life is the one who facilitate the best plan which is ulip insurance plan. The policy covers maximum expenditures and the investment of the plan is less. Claims are very big and easy to sanctioned due to fast response from company members.
Akshay
Masaurhi, July 05, 2016
ULIP Plan
The ulip insurance plan provide's me very nice benefits and service. Policy premiums are low and policy coverage is high ~90%. Service is so good, because of that the claims are easily sanctioned. Online portal service simple to access and anyone can operate it.
Nitin
Aligarh, June 28, 2016
Fine Insurance Policy
My ulip plan is simple and good insurance policy which has some nice benefits. Premium of the plan is less but the policy coverage is high. Service is so quick provided by the company members. Behaviour of all of them is nice with calm nature. Good investment which has good payback returns.
Kunal
Dwarka, March 31, 2016
Perfect Policy Plan
I purchase birla sun life ulip policy plan. The policy is great with huge facilities. The policy coverage and the claims are high with low premiums. The service facilitate by executives and staff members are very nice. Daily update are texted or mailed to me. The policy saves taxes too. Great investment plan for future.
Varun
Calicut, March 31, 2016
Good Experience
I have less idea about the insurance policies because I never gone through buying insurances, now i purchase birla sun life insurance ulip policy plan the policy is great. Premium for my plan is 21 K thrice per year and at the time of maturity the sum assured might be 34 L. They have daily update so i get numbers of mails from them.
Bhupesh
Delhi, March 31, 2016
Poor Service
One of the most convenient insurance policies provider is birla sun life insurance ulip policy plan so my investments will be safe. As far as I seen this company is coming generation to generation. Everybody is been benefited with its benefits. Customer service need to be improved as that is bit slow and never on time. Please improve it.
Vishal
Navi_mumbai, March 31, 2016
Marvelous
My ulip policy plan is from birla sun life insurance and the policy is the awesome because the policy has many benefits like the accident insurance is inbuilt in this policy. Policy coverage is high approx. 92% and the premiums are low. Claims are 1.25 times of the investment. The service is fast and very quick. Good policy plan.
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