ABSLI Saral Jeevan Bima is a Non- participating, Non-linked, pure risk premium, an individual life insurance plan that is specially formulated to protect the interest of the policyholder's family from the casualty of unprecedented demise. Compensation in a lump sum payment saves the vicious cycle of debts and loans from fulfilling the long-term goals or endeavors of the family. ABSLI Saral Jeevan Bima is comprehensive term insurance with a nominal premium towards a higher return.
+Tax benefit is subject to changes in tax laws.
++All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
ABSLI Saral Jeevan Bima encompasses a set of protocols and instructions for availing the best of Policy. It has its key features explicitly created to circumspect the ill scenarios and protects the beneficiaries from the heavy burdens. With the ingenious concept tailored to fit in the real-life, anyone belonging to the prescribed mature age group is eligible. Be it an 18-year-old person or a happening adult, ABSLI Saral Jeevan Bima covers all.
The following are the eligibility criteria of the policy.
Eligibility Criteria |
Details |
Policy Term |
|
Entry Age |
18-65 years |
Maturity Age |
Maximum Age is 70 years |
Premium Payment Term |
|
Premium Payment Mode |
Monthly, Half-yearly, Yearly |
Sum Assured |
Min: Rs. 5 lakhs Max: Rs. 25 lakhs, in multiples of Rs. 25k |
**Standard Terms and Conditions apply.
The scheme offers a broad scope of benefits to the policyholder and his family; it comes with an array of informed decisions. ABSLI Saral Jeevan Bima protects the interests of all members, thereby.
The plan is available in several variants, and users can choose the option as per their insurance requirements.
Death Benefit:
With the onset of the scheme triggered by the loss and unfortunate demise of the Life Insured during the period that is granted in waiting, the death benefit is paid to the beneficiaries/nominees/legal heirs as:
For controlled pay and Usual Pay policy, highest pay commensurate to-
For a Single Pay policy,
In a year, the total premium paid is Annualized Premium, excluding rider premiums, taxes, extra underwriting premiums, etc.
When the policyholder has to pay excluding the extra underwriting premiums, it's single Pay. Levied taxes or applicable additional ride-ons will be liable to be deducted.
Absolute amount assured to be paid on death- shall be an amount equal to Sum Assured.
When in the Semi-Annual and Monthly mode, the unpaid premium instalments from the date of death to the next policy anniversary shall be deducted from the payable's death benefit.
Tax benefit- The plan provides tax benefits as applicable under the standard tax laws.
**Tax laws may be subject to changes.
When looking for added protection, one enjoys the prerogative of enhancing their life insurance coverage by paying an extra premium at a nominal price and get additional riders. These are customizable benefits that are based on the choice of the customer.
ABSLI Accidental Death Benefit Rider Plus gives the benefit of a 100% Rider Sum Assured as an extra lump sum amount in the event of accidental death of the Life Insured.
Customers can get additional rider coverage with this plan. This Rider Sum will be an assured amount payable if a specific event is covered under the policy.
Moreover, the rider premiums collected after the accident date till death is guaranteed to be refunded with interest and payable death benefits.
As sure of the payment methods in a facile and flexible mode guaranteed, it has the option to pay as in Single, Limited, or Regular modes. At the same time, regular premiums can be in annual payments, semi-annual, or monthly instalments.
The ABSLI Saral Jeevan Bima plan premium rates can be determined based on multiple factors of age, the income of policy buyer, gender, etc.
Document presentation is an absolute necessity regarding any official work. As per the demand of the company, one can also ask for additional information from an individual. In general terms,
The following information serves as pre-requisites to buy the plan -
One can apply from an online portal. The following steps are to be followed. The online application reaches out to a broader audience and is accessible from any distance. There are two modes- online/aggregator's site and offline, available, as per the prospective buyer's convenience. In just 5 steps, as listed, one can buy the lucrative plan.
ABSLI Saral Jeevan Bima plan covers the Suicide exclusion. According to it, if the policyholder commits suicide within 12 months from the risk commencement date or from the Policy revival date, the policy will get terminated. The insurer will then pay the nominee all the premiums paid to date.
Ans- If one is unable to pay one's premium by the due date under some circumstances, then a grace period of 15 days is granted from the first unpaid premium for monthly premium mode and 30 days in case of the annual premium. However, if the insured dies during the grace period, the company shall be entitled to subtract the unpaid premium from the benefits pending to be paid under the policy.
One's Policy can be revived within a period of 5 years from the actual date of first unpaid premium, abiding by the constitution, of-.
Finally, when the policy revives, all benefits are available again to their total value to avail.
Ans- you have a free look period of 15 days from the date of receipt of the policy document to review the terms and conditions of the policy and have the right to return or cancel.
the policy will be terminated by-
It is simple and affordable with quality security goals.