Aditya Birla Sun Life Insurance Company Limited

ABSLI Guaranteed Milestone Plan

Q: Will I get any tax benefit?

As per extant tax laws, this plan offers tax benefits3 under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 1961, subject to fulfillment of the other conditions of the respective sections prescribed therein. 3Tax laws are subject to changes in tax laws. You are advised to consult your tax advisor for the same.

Protecting your Life Goals Now Comes With A Guarantee

Guaranteed^# Additions that boost your corpus

Option to cover your spouse in the same policy

Give ₹15,000/year for 6 years
Get ₹1,23,696 as maturity benefit¹

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Why buy ABSLI Guaranteed Milestone Plan?

Aditya Birla Sun Life Insurance Guaranteed Milestone Plan provides life cover with fully guaranteed^# financial benefits on death or maturity and helps you plan for your non-negotiable life goals.

Key Features

Guaranteed Benefits: Fully guaranteed^# benefits on death or maturity.
Guaranteed Additions: Guaranteed^# Additions that boosts your corpus year on year.
Joint Life Cover Option: Flexibility to cover your spouse also by choosing Joint Life Protection by paying an additional premium.
Rider Options: Flexibility to enhance your insurance cover with appropriate rider² options by paying an additional premium.

Benefits of ABSLI Guaranteed Milestone Plan

ABSLI Guaranteed Milestone Plan Provides You With Guaranteed# Additions To Boost Your Corpus

Death Benefit

For Single life
In case of the unfortunate demise of the life insured during the policy term, the Sum Assured on Death will be paid to the nominee in 10 equal annual installments.
Sum Assured on Death will be highest of:

Sum Assured as an absolute amount to be paid on death; or
105% of the Total Premiums Paid up to the date of death; or
10 times of the Annualized Premium

“Total Premiums Paid” means total of all the premiums received, excluding any extra premium, any rider premium and taxes.
For Joint life
Under this option, two lives i.e. you (primary life insured) and your spouse (secondary life insured) are covered under the same policy and also jointly own the policy. The sum assured applicable for your spouse shall be equal to 20% of your applicable sum assured. You can opt for this option at the inception of the policy subject to the attained age of primary life insured & secondary life insured is less than or equal to 50 years.
For more details, refer to the product brochure.

Maturity Benefit

In the event the life insured survives to the end of the policy term, we shall pay to you

Sum Assured on maturity ; plus
Accrued Guaranteed Additions

Sum Assured on maturity is the amount which is guaranteed to become payable on maturity of the policy, in accordance with the terms and conditions of the policy and is equal to total premiums payable under the policy, excluding any extra premium, any rider premium and taxes.

Guaranteed Additions

Guaranteed Additions will accrue on monthly basis to the policy on each policy month till maturity; provided all due premiums have been paid and shall be payable in event of death of life insured or policy maturity whichever is earlier. Guaranteed Additions per annum shall be determined based on the premium amount you commit to pay, premium band, sum assured, the entry Age of the life insured, Joint Life Protection option and policy term chosen. In case of Joint Life Protection option, the Guaranteed Additions shall accrue on the sum assured applicable for the primary life insured and shall be payable on policy maturity. Please ask your financial advisor for an illustration of the Guaranteed Additions applicable to your policy or refer to your policy contract for further details.

Reduced Paid-Up Benefits

If you discontinue paying premiums after having paid premiums for at least two full years, your policy will not lapse but continue on a Reduced Paid-Up basis. Under Reduced Paid-Up, Sum Assured, Sum Assured on Death, on maturity shall be reduced in proportion to the premiums actually paid to the total premiums payable during the policy term. For more details, refer to the product brochure.

ABSLI Guaranteed Milestone Plan With Riders

ABSLI Accidental Death and Disability Rider

UIN: 109B018V03

Get additional protection for accident leading to death or disability at a nominal cost.

ABSLI Accidental Death Benefit Rider Plus

UIN: 109B023V02

This rider provides 100% of Rider Sum Assured as an additional lump sum amount in case of death due to accident of Life Insured. Additionally, the rider premiums collected aﬅer the date of Accident till date of death, shall be refunded with interest, along with death benefit payable. This rider is only applicable for a Life Insured aged 18 years & above and the rider policy term cannot exceed the base policy term.

ABSLI Critical Illness Rider

UIN: 109B019V03

This rider provides lump sum on survival of 30 days from the date of diagnosis of any of the specified critical illnesses. This rider is only applicable for a Life Insured aged 18 years and above and the rider policy term cannot exceed the base policy term.

ABSLI Surgical Care Rider

UIN: 109B015V03

This rider provides lump sum benefit in case of hospitalization for a minimum period of 24 hours for undergoing medically necessary surgery in India. This rider is only applicable for a Life Insured aged 18 years and above and the rider policy term cannot exceed the base policy term.

ABSLI Hospital Care Rider

UIN: 109B016V03

This provides daily cash benefit in case of hospitalization for a minimum period of 24 hours for medically necessary treatment of any Illness or Injury payable from the first day for the duration of hospitalization. This rider is only applicable for a Life Insured aged 18 years and above and the rider policy term cannot exceed the base policy term.

ABSLI Waiver of Premium Rider

UIN: 109B017V03

This rider waives off all future premiums of the base plan and the attached riders throughout the rest of the premium payment in case of diagnosis of Critical Illness, Disability or Death (only if Life Insured is a minor i.e. below 18 years of age and is different from the Policyholder).

Check Your Eligibility

Entry Age (age last birthday)	30 days* - 60 years
Policy Term	12, 14, 16, 18, 20, 22, 24 & 26 years
Premium Paying Term	6 years for policy term of 12/14 8 years for policy term of 16/18 10 years for policy term of 20/22 12 years for policy term of 24/26
Minimum Maturity Age	18 years
Minimum Premium	Rs. 15,000
Sum Assured	15 X Annualized Premium
Minimum Sum Assured	Rs. 2,25,000
Minimum Sum Assured on maturity	Rs. 90,000
Premium Mode	Annual, Semi Annual, Quarterly and Monthly

* risk commences from the first policy anniversary

How does ABSLI Guaranteed Milestone Plan Work?

Entry Age		35 years			Annualized Premium*		Rs. 50,000
Gender		Male			Premium Paying Term		10 years
Policy Term		20 years			Payment Frequency		Annual
Sum Assured		Rs. 7,50,000
Policy	Annualized		Annualized Premiums	Cumulative		Guaranteed
Year End	Premium*		Paid to Date	Guaranteed Additions		Death Benefit		Maturity Benefit
1	50,000		50,000	31,200		750,000		-
2	50,000		1,00,000	62,400		750,000		-
3	50,000		1,50,000	93,600		750,000		-
4	50,000		2,00,000	124,800		750,000		-
5	50,000		2,50,000	156,000		750,000		-
6	50,000		3,00,000	187,200		750,000		-
7	50,000		3,50,000	218,400		750,000		-
8	50,000		4,00,000	249,600		750,000		-
9	50,000		4,50,000	280,800		780,800		-
10	50,000		5,00,000	312,000		812,000		-
11	-		-	343,200		843,200		-
12	-		-	374,400		874,400		-
13	-		-	405,600		905,600		-
14	-		-	436,800		936,800		-
15	-		-	468,000		968,000		-
16	-		-	499,200		999,200		-
17	-		-	530,400		1,030,400		-
18	-		-	561,600		1,061,600		-
19	-		-	592,800		1,092,800		-
20	-		-	624,000		1,124,000		1,124,000

*The premium excludes underwriting extra premium, frequency loadings on premiums, the premiums paid towards the riders, if any and Goods & Service Tax (if any).
This is not a benefit illustration. Please visit our website or ask your financial advisor for the complete benefit illustration for your policy.

Suicide Exclusion

If the Life Insured dies by suicide within 12 months of the effective date of risk commencement or the date of revival of Policy, the Policy shall terminate immediately. In such cases, the Company shall pay higher of Surrender Value or (total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes) in case the Policy has acquired a surrender value; or Total Premiums Paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes in case the Policy has not acquired a surrender value.

For Joint Life Protection, the suicide exclusion described above applies in the event of earlier death of either the Primary Life Insured or the Secondary Life Insured and the policy is terminated.

How to initiate Claim?

3 quick steps, everything online.

Fill basic details
Claim intimation
Document submission

More About Claims

Frequently Asked Questions

Know more about ABSLI Guaranteed Milestone Plan in detail here:

What is the main feature of this plan?

Below are some of the important features of this plan:

Fully guaranteed^# benefits on death or maturity
Sum Assured is 15X of the Annualized Premium
Guaranteed^# Additions that boost your corpus year on year
Cover your spouse by choosing Joint Life Protection by paying an additional premium
Enhance your insurance cover with appropriate rider options by paying an additional premium
Tax Benefits³ under Section 80C, 80D & Section 10(10D)^** of the Income Tax Act, 1961

Who should buy this plan?

Any person under 60 years of age, interested in building a corpus for the non-negotiable goals of life should buy the ABSLI Guaranteed Milestone Plan.

Will I get any tax benefit?

You may be entitled to certain applicable tax benefits on the premiums paid and benefits received under Your Policy. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek an independent tax advice.

What is the death benefit with this policy?

Below are the scenarios of death benefit under this policy:

For single life policies, 100% of the sum assured will be given out in 10 equal annual instalments as death benefit, in case life insured dies during the policy term.

For joint life policies, 20% of the primary life sum assured will be given out as death benefit, in case the secondary life insured dies during the policy term, while primary life insured is alive. In case the primary life insured dies while the secondary life insured is still alive, 100% sum assured will be paid in 10 equal annual instalments and all future premiums will be waived off.

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Disclaimer

^#Provided all premiums are paid
^** Sec 10(10D) benefit is available subject to fulfilment of conditions specified therein
¹ Healthy male, age 21, premium payment term 6 years, premium of Rs.15000/- for 6 years, maturity benefit of Rs.1,23,696/- at the end of policy term of 12 years, a life cover of Rs.2.25 lakhs.
² For more details regarding this benefit, refer to the brochure.
³ Tax laws are subject to changes in tax laws. You are advised to consult your tax advisor for the same.

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating traditional insurance plan. All terms & conditions are guaranteed throughout the policy term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for sub-standard lives, smokers or people having hazardous occupations etc. The insurance cover for the life insured (including minors) will commence on the policy issue date.
UIN: 109N106V11
ADV/7/23-24/1267