Unit Linked Insurance Plans
A unit linked life insurance plan
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.
In order to build a better life and realise your dreams, you always need to plan ahead. That’s why you need a savings plan that helps you attain you goals with your changing life stage and can be customised to match your needs while giving you peace of mind. Introducing Aditya Birla Sun Life Insurance Wealth Secure Plan that combines long term savings and whole life coverage specially designed for you to focus on your goals and maximise savings for your future.
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 IRDA of India (Linked Insurance Products) Regulations, 2013.
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 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.
Under ABSLI Wealth Secure Plan, you decide how to invest your premiums in one of the three investment options – LifeCycle Option, Systematic Transfer Option or the Self-Managed Option. At any time over one year while your policy is in effect, you can change your investment option.
Under the LifeCycle Option, your portfolio will be structured as per your age and risk profile – all you need is to decide on your risk profile – Conservative, Moderate or Aggressive. Your portfolio will then be managed and administered by us, saving you the time and effort involved. We automatically shift your investments from riskier assets to safer assets progressively with your age.
We will invest your premiums between the two segregated funds, Maximiser (Equity Fund) and Income Advantage (Debt Fund) in a predetermined proportion based on the selected risk profile and your age when the premium is invested. Details about these two funds are explained later.
The proportion invested in Maximiser (Equity Fund) will be according to the schedule given below – the remaining amount will be invested in Income Advantage (Debt Fund): For example – if person A aged 35 years, opts for LifeCycle Option and a moderate risk profile, then based on the age and the risk profile the investment portfolio will change with time as below:
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 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 out of Enhancer, Creator, Multiplier, Super 20, Pure Equity 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. For example – if person A aged 35 years, opts for Systematic Transfer Option with transfers on 15th of eve_ month to Super 20: Premium/s net of premium allocation charges will be allocated in Liquid Plus Fund and thereafter on 15th of eve_ month, 1/12th of initially allocated amount shall be automatically transferred to Super 20 Fund.
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 `5,000.
|Policy Term||Whole life|
|Entry Age||30 days* to 60 years|
|Premium Paying Term (PPT)||5 to 30 years|
|Maximum PPT||Attained age at the end of premium paying term must be 75 years or less|
|Basic Premium||Minimum Rs. 20,000 p.a. if paid annually |
Minimum Rs. 30,000 p.a. if paid semi-annually
Minimum Rs. 60,000 p.a. if paid monthly or quarterly
|Top-up Premium||Minimum Rs. 5,000|
* risk commences from the first policy anniversary
DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the Registered office at GF: Nos. 11 & 12 & FF - Nos.110 to 115, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Composite Corporate Agent of Tata AIA Life Insurance Company Limited (IRDA of India Regn. No.110) CIN: U66010MH2000PLC128403 having the Registered office/principal place of business at 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Aditya Birla Sun Life Insurance Company Limited (IRDA of India Regn.No.109) CIN: U99999MH2000PLC128110 having the Registered office address at One India bulls Centre, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013, Royal Sundaram General Insurance Company Limited (IRDA of India Regn.No.102) CIN: U67200TN2000PLC045611 having the Registered office address at No.21, Patullos Road, Chennai - 600002 and Bharti Axa General Insurance Company Ltd. having the Registered office address at First Floor Hosto Centre, No. 43, Millers Road, Vasanth Nagar, Bangalore - 560052. ISNP Registration valid.
DBS Bank India Limited does not underwrite the risk or act as an insurer. The Insurance products are offered and underwritten by respective insurance companies. The contract of insurance is between the insurer and the insured and not between the bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Customers are advised to take independent professional advice before participating. Insurance is a subject matter of solicitation.
For more details on risk factors, terms and conditions, exclusions, please read sales brochure of insurer and policy terms and conditions carefully before concluding a sale. Tax benefits are available as per the prevailing tax laws, which are subject to change. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis.
For any information including cancellation, claims and complaints, please contact our Treasures Relationship Manager or visit DBS Bank India’s nearest branch office or Contact our 24-hour toll free customer service helpline number 1-800-209-4555 / 1-800-103-9897 or our overseas customer service number 91-44-66854555 or write to us at email@example.com. Visit us at: www.dbs.com/in