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A father of two, he wants to leave a legacy behind for his children.
He invests in the Long-Term Income variant of the ABSLI Nishchit Aayush Plan with an annual premium of ₹1,00,000.
He opts for a premium payment term of 10 years and a policy term of 40 years. He chooses to receive his income immediately with 0 deferments on an annual basis.
Shashank survives the policy term and receives the survival benefit during the 40 years and the maturity benefit at the end of the policy term.
He receives ₹37,750/year for 40 years and a lump sum maturity benefit of ₹14 lakh at the end of the term. In total, he receives ₹29,10,000.
He lives with his wife Sanskriti and their 9-year-old daughter Tara.
He invests in the Long-Term Income variant of the ABSLI Nishchit Aayush Plan with an annual premium of ₹1,00,000.
He opts for a premium payment term of 10 years and a policy term of 40 years. He chooses to receive his income immediately with 0 deferments on an annual basis.
Unfortunately, Saransh passed away in the 15th policy year. He received an annual income of ₹37,800 for the 14 years he lived.
As a death benefit, his family got 105% of the total premium paid so far, which turns out to be ₹10.5 lakh. This money helps Sanskriti ensure their daughter’s education continues without any problems.
He invests in the Increasing Income with Lump Sum Benefit option, where the income increases at 5% simple interest every 5 years. His premium is ₹1,00,000 per year.
He opts for a premium payment term of 10 years and a policy term of 40 years. He chooses to receive his income immediately with 0 deferments on an annual basis.
Ali survives the policy term where he has received a regular income increasing every 5 years. In 40 years, he gets a total of ₹16.45 lakh.
On top of the regular income, he also gets a lump sum maturity benefit of ₹14 lakh at the end of the term, bringing the total to ₹30.45 lakh.
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.
Pick the income variant that best suits your needs from the 5 options offered under the ABSLI Nishchit Aayush plan.
Maximise your ABSLI Nishchit Aayush Plan with cost-effective add-ons for comprehensive protection
Before you invest in the plan, ensure you qualify and have the necessary documents.
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You choose the income variant, the sum assured amount, and the term.
You pay a premium to the insurer, either on a monthly, quarterly, half-yearly, or annual basis.
You start receiving a fixed amount at the end of every year from the first policy year.
If you survive the policy term, a fixed lump-sum maturity benefit is paid under some income variants.
If you pass away during the term, your nominee receives the sum assured on death.
Investing in this plan early in one's career can help accumulate wealth over time and build a strong financial foundation for the future.
It can help parents secure their children's future by building a financial safety net for their education, marriage, or other milestones.
Couples can invest in the plan to achieve shared financial goals, such as buying a home or preparing for retirement.
The Nishchit Aayush Plan offers stable returns and a lower risk profile than other investment options such as equities or mutual funds.
Premiums paid towards the plan are tax deductible up to ₹1,50,000 in a year.
Anyone looking to create an emergency fund can consider the Nishchit Aayush Plan as a safe and stable option.
Savings plans provide a structured approach to saving money by setting aside a predetermined amount of money regularly. This can help you develop a habit of saving and avoid the temptation to overspend.
It offers the potential to grow your money over the long term through compounding. This means that your earnings are reinvested to grow even more.
Savings plans are generally considered safe investment options, especially those backed by government institutions or reputable financial organisations.
It can help you achieve financial security and achieve your financial goals, such as saving for retirement, purchasing a home, or funding your child's education.
It lets you choose how much to save, how long to invest, and how you want to receive the money.
What are you saving for? A down payment on a house? Retirement? Your child's education? Once you know your goals, you can choose a savings plan that is designed to help you achieve them.
How much risk are you comfortable with? Some plans, such as fixed deposits, are relatively low-risk, while others, such as mutual funds, are higher-risk. Consider your risk tolerance when choosing a savings plan.
How long can you invest for? Savings plans have a lock-in period, so consider your investment time frame when choosing a savings plan. Also, the longer you stay invested, the more you can grow your wealth.
Would you need access to your money? If you need to be able to access your money quickly, you may want to choose a savings plan that allows partial withdrawals or loans against the plan.
It is the guaranteed* regular income you get for every year of the term you survive. You can choose from five different income options at the time of purchase.
It is the lump sum amount you get at the end if you survive the policy term. This is available in all income variants except Income Only Benefit.
It is the amount your nominee gets in case you pass away during the term. The amount is the higher of sum assured on death or the surrender benefit amount.
This policy acquires a surrender value once premiums for at least two full policy years have been paid.
Yes, a policy loan is allowed once the policy acquires a surrender value. The minimum loan amount is ₹ 5,000, and the maximum is 80% of the then applicable Surrender Value less any outstanding policy loan balance as on that date.
You have the right to return your policy to us within 15 days (30 days in the case of electronic policies and the policies issued under the provisions of the IRDAI Guidelines on Distance Marketing of Insurance Products) from the date of receipt of the policy, in case you are not satisfied with the terms and conditions of your policy.
Yes, the Life Insured and Policyholder can be different under this plan. In case Policyholder and the Life Insured are different then all the proceeds for the policy will be paid to the Policyholder. Where the Life Insured (whether major or minor) and Proposer/Policyholder is different, on the death of the Proposer/Policyholder, his legal heirs, in accordance with the existing succession laws, will be considered as new Proposer/Policyholder. As no death benefit is payable on the death of the Proposer/Policyholder, the policy status does not change, and the policy continues. However, if the premiums are not paid before the expiry of the grace period the policy would be subject to the provisions mentioned in the ‘Premium Discontinuance Section’.
The minimum and maximum sum assured options for the Nischit Ayush Plan are as follows:
NON-POS:
Minimum Sum Assured: ₹2,10,000
Maximum Sum Assured: Subject to Board Approved Underwriting Policy
POS Boundary Conditions:
Minimum Sum Assured: ₹2,10,000
Maximum Sum Assured: ₹25,00,000