banner-logo

FEATURES

Key Features:

  • Pay premiums for a limited term and get life cover for whole life
  • Flexibility to choose from 3 investment options to suit your investment needs
  • Flexibility to add top-ups whenever you have additional savings
  • Flexibility of partial withdrawals to meet any emergency fund requirements
  • Tax benefits under section 80C and section 10(10D) of the Income Tax Act, 196*1
Card Reward and Redemption

Benefits:

1.Guaranteed Additions – in the form of additional units will be added to your policy:

  • On 10th policy anniversary and on every 5th policy anniversary thereafter. Guaranteed Addition is 2.00% of the total premiums paid in the last 60 months
  • In addition on 11th policy anniversary and every policy anniversary thereafter. Guaranteed Addition is 0.20% of the average Fund Value in the last 12 months

After the completion of 5 policy years, non-negative residual additions, if any, shall be credited to the policy in order to meet the maximum reduction in yield as in Regulation 37 of IRDA of India (Linked Insurance Products) Regulations, 2013.

2.Death Benefit(3) – in the unfortunate event the life insured dies while the policy is in effect, the nominee shall receive the greater of -

  • Basic Fund Value as on date of intimation of death; or
  • Basic Sum Assured

In addition the greater of the following will be paid -

  • Top-up Fund Value as on date of intimation of death; or
  • Top-up Sum Assured

The Sum Assured will be reduced by the partial withdrawals made from as follows -

  • Before the life insured attains the age of 60, the Sum Assured payable on death is reduced by partial withdrawals made in the preceding two years
  • Once the life insured attains the age of 60, the Sum Assured payable on death is reduced by all partial withdrawals made from age 58 onwards

However the minimum Basic Sum Assured payable on death after partial withdrawals shall never be less than Basic Premium multiplied by 10.

Death benefit shall never be less than 105% of total premiums paid to date (excluding service tax).

In case where the death of the Life Insured takes place prior to risk commencement date, only the basic premiums paid (excluding service tax, if any) shall be payable as the Death Benefit.

3.Surrender Benefit – in case of emergencies, you can surrender your policy to ABSLI Co. anytime during the policy term.  Any such surrender will be treated according to the complete withdrawal as mentioned in Policy Discontinuance section.

(3) In case of death of the life insured, if life insured is different from the proposer/policyholder, the proposer/policyholder will receive the policy proceeds.

View Commission-related information

Card Reward and Redemption

Frequently Asked Questions

You can pay your limited payment life insurance policy premium annually, semi-annually, quarterly or monthly. Payment modes include ECS, standing instruction, direct debit and other automated modes.

Basic Premium is the amount you choose to invest every year during the premium paying term. The minimum Basic Premium to be paid annually is Rs. 30,000 p.a. if paid annually or semi-annually and Rs. 60,000 p.a. if paid quarterly or monthly. You are advised to consult your ABSLI Advisor to know your premium.

Upon expiry of the grace period, in case of discontinuance of policy due to non-payment of premium anytime during the first five policy years, the Policy fund value after deducting the applicable discontinuance charges as below shall be credited to the discontinued policy fund and the risk cover, if any, shall cease.r

Upon expiry of the grace period, in case of discontinuance of policy due to non-payment of premium after lock-in period of 5 years, the policy shall be converted into a reduced paid-up policy with the paid-up sum assured i.e. original sum assured multiplied by the total number of premiums paid to the original number of premiums payable as per the terms and conditions of the policy. All charges as per terms and conditions of the policy shall be deducted during the revival period. However, the mortality charges shall be deducted based on the reduced paid-up sum assured only. However, the policyholder has an option to surrender the policy at any time and then, the policy fund value shall be payable.

Upon the unfortunate death of the life insured, we shall pay to the nominee the higher of Basic Sum Assured or Basic Fund Value. In addition, we shall also pay higher of the Top-up Sum Assured plus Top-up Fund Value as on the date of intimation of death.

Disclaimer

HDFC Bank Limited (IRDAI Registration No: CA0010) is the Corporate Agent of Aditya Birla Sun Life Insurance Company Limited and does not underwrite the risk or act as an insurer.

Registered Address: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Participation by the Bank’s clients in the Insurance products is purely on a voluntary basis. The contract of Insurance is between Aditya Birla Sun Life Insurance Company Limited and the Insured and not between HDFC Bank and the Insured.

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating unit linked life insurance plan. Aditya Birla Sun Life Insurance and ABSLI Wealth Secure Plan are only the names of the Company and Policy respectively and do not in any way indicate their quality, future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document. The name of the funds offered in this plan does not in any indicate their quality, future prospects or returns. The charges are guaranteed throughout the term of the policy unless specifically mentioned and subject to IRDAI approval. The value of the segregated fund reflects the value of the underlying investments. These investments are subject to market risks and change in fundamentals such as tax rates etc affecting the investment portfolio. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of segregated fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. There is no guarantee or assurance of returns above the guaranteed returns from the segregated funds. GST and any other applicable taxes levied as per extant tax laws shall be deducted from the premium or from the allotted units as applicable. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives. The insurance cover for the life insured will commence on the policy issue date. This brochure contains the salient features of the plan. For further details please refer to the policy contract. ULIP Issued on or after 1st February 2021 where the annualised premium exceeds Rs 2.5 lakh at any time during the premium paying term, the amount received on maturity shall not be entitled for exemption under section 10(10D) of the Income-tax Act, 1961. However, death benefit received shall be exempt u/s 10(10D).Tax benefits are subject to changes in the tax laws. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding the sale. Aditya Birla Sun Life Insurance Company Limited. Registered Office: One Indiabulls Centre, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. IRDAI reg no.109 CIN: U99999MH2000PLC128110 UIN: 109L074V05 ADV/8/20-21/833 VER3/AUG/2020

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!

​​​​​​​IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.