Unit Linked Insurance Plans
A unit linked Life Insurance plan
In this policy, investment risk in investment portfolio is borne by the policyholder. The linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year.
Over the years, you have achieved success and accumulated wealth. Your priority now is to ensure your wealth and assets remain protected for your future generations, while you enjoy the lifestyle you have worked hard to attain. Specially designed to cater to your financial and estate planning goals, ABSLI Fortune Elite is unit linked plan that provides insurance coverage and the opportunity of wealth preservation and enhancement.
Under ABSLI Fortune Elite Plan, you decide how to invest your premiums in one of the three investment options - Systematic Transfer Option, Return Optimiser Option or the Self-Managed Option.
Tax benefits are subject to changes in Tax laws.
Guaranteed Additions – in the form of additional units will be added to your policy:
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 IRDAI (Linked Insurance Products) Regulations, 2013.
Death Benefit(2) – in the unfortunate event the life insured dies while the policy is in effect, we will pay to the nominee the greater of
In addition we will also pay the greater of
The Sum Assured will be reduced by the partial withdrawals made from as follows:
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 GST).
In case where the death of the Life Insured takes place prior to risk commencement date, only the basic premiums paid (excluding GST, if any)shall be payable as the Death Benefit.
Maturity Benefit – You will receive the Fund Value at maturity.
Surrender Benefit – In case of emergencies, you can surrender your policy to us anytime during the policy term. Any such surrender will be treated according to the complete withdrawal as mentioned in Policy Discontinuance section.
(2)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.
Systematic Transfer Option: The Systematic Transfer Option safeguards your wealth against the market volatilities and is available only if you have opted for annual mode. Under the Systematic Transfer Option, your premium (net of premium allocation charge) shall be first allocated to Liquid Plus fund option and thereafter monthly 1/12th of the allocated amount shall be transferred to a segregated fund(s) of your choice. You may choose up to a maximum of four segregated fund (s) out of Enhancer, Creator, Maximiser, Multiplier, Super 20 and Value & Momentum for your premiums to be transferred to. The transfers to your chosen segregated fund(s) will take place monthly on 1st, 8th, 15th or 22nd of the month as selected by you.
This option helps mitigate any risk arising from volatility and averages out the risks associated with the equity market, reducing the overall risk to your portfolio.
Return Optimiser Option: The Return Optimiser Option enables you to take advantage of the equity market, protect your gains from the future market volatility and create a more stable sequencing of investment returns.
Under this option all your Basic Premiums (net of allocation charges) are invested in Maximiser fund and it will be tracked every day for each policyholder for a pre-determined upside movement of 10% or more over the net invested amount (net of all charges). In the situation where the gain from the Maximiser fund reaches 10% or more of the net invested amount, the amount equal to the appreciation will be transferred to the Income Advantage fund at the prevailing unit price. This ensures that your gains are protected from any future market volatilities.
While the gain is less than the pre-determined upside movement of 10%, the fund value will continue to remain in the Maximiser fund and no transfers will be made to the Income Advantage fund.
Self-Managed Option: Self-Managed Option gives you access to our well established suite of 15 segregated funds, complete control in how to invest your premiums and full freedom to switch from one segregated fund to another.
Our 15 segregated funds range from 100% debt to 100% equity to suit your particular needs and risk appetite – Liquid Plus, Income Advantage, Assure, Protector, Builder, Enhancer, Creator, Asset Allocation, Magnifier, Maximiser, Multiplier, Super 20 Pure Equity, Value & Momentum and Capped Nifty Index. If you wish to diversify your risk, you can choose to allocate your premium in varying proportions amongst the 15 segregated funds. We record your allocation instructions as per the premium allocation percentages specified in the application form. Our only requirement is that the percentage allocated to any segregated fund be in increments of 5%, ranging from 5% to 100%.
To meet your ever changing investment needs, you have full flexibility to redirect future premiums by changing your premium allocation percentages at any time. You also have full flexibility to switch monies from one segregated fund to another at any time provided the switched amount is for at least Rs. 5,000.
You can change from one investment option to another investment option anytime after the first policy year. You can switch to Self-Managed Option or Systematic Transfer Option during the policy term, however switching to the Return Optimiser Option is not allowed. Switching to Systematic Transfer Option from Self-Managed option is allowed only at policy anniversary.
|Entry Age||30 days* to 55 years (subject to max maturity age of 75 years)|
|Policy Term||20|25|30|35|40 years|
|Premium Paying Term (PPT)||5|10|15|20 years|
|Minimum Basic Premium||Rs. 40,000|
|Minimum Sum Assured||Rs. 4,00,000|
|Top-up Premium||Minimum Rs. 5,000|
*risk commences from the first policy anniversary
DBS Bank Ltd. is a corporate agent of Aditya Birla Sun Life Insurance Company under license number 0257.
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating unit linked life insurance savings plan. Aditya Birla Sun Life Insurance and ABSLI Fortune Elite Plan are only the names of the Company and Policy respectively and do not in any way indicate their quality, future prospects or returns. Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors’ influencing the capital market and the insured is responsible for his or her decision. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document. The various funds offered under this contract are the names of the funds and do not any ways indicate the quality of these plans, their future prospects and returns. 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. 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 (formerly 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 - 400013.
IRDAI Registration No. 109. Unique No.: 109L090V02 ADV/11/17-18/1194