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He’s married and manages his own startup
He chose the ABSLI Fortune Elite Plan and chose a limited premium payment where he pays ₹75,000 lakh per annum for 5 years.
His policy term is 20 years under a self-managed option with a 50% investment in MNC Fund and 50% in Pure Equity Fund. His wife is his nominee.
On maturity, Rahul receives ₹10.75 lakhs1 at 8% returns
If he dies in the 4th policy year, he receives the sum assured of ₹7,50,000
She’s a working mom with a 10-year-old daughter, Alya.
She chose the ABSLI Fortune Elite Plan at 35 with a life cover of ₹10 lakh and a premium of ₹1 lakh per annum for 20 years.
When Alya turns 18, she gets into a reputed college. They need to deposit a lump sum amount to start the process but Suman is low on money at that time.
Thankfully, her policy has already crossed the lock-in period, so she makes a partial withdrawal and gets the admission process started.
Alya got into the college of her choice, and the ABSLI Fortune Elite policy continues covering Suman as usual while creating wealth for her future needs.
In case of death due to suicide within 12 months, the nominee only gets the current fund value.
The plan does not cover death due to intoxication and involvement in illegal or dangerous activities.
The plan does not cover critical illnesses.
Pick one of the 3 investment options offered under ABSLI Fortune Elite
Maximise your ABSLI Fortune Elite Plan with cost-effective add-ons for comprehensive protection.
Before you start investing in ULIPs, ensure you qualify and have the necessary documents.
Hear from our customers what they have to say about their experience.
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If you are looking to grow your wealth while ensuring a secure future for your loved ones, this could be for you.
ULIP tends to work better when given a long investment period which makes it good for retirement planning and other long-term goals.
Being market-linked, ULIPs carry a level of risk. If you are okay with that, consider investing in it to grow your wealth.
You can invest in equity, debt or both through ULIP so if you are looking to diversify your investment, ULIP can be a great place.
Choose between multiple policy terms and premium paying terms, based on your convenience.
Add more fund units to your policy as a reward starting from the 10th policy year and every 5 years thereafter.
Receive the basic fund value as well as the top-up value in the case of premature demise during the policy term.
Receive the total fund value as well as the top-up value if you survive the policy period.
Get the flexibility to make partial withdrawals for your financial needs after the lock-in period
ULIP investments are market-linked so they carry the expected risks that come with all market-linked investments. If the market performs well, the fund value goes up but if the market performs poorly, the fund value can go down.
This is why it is suggested to stay invested in ULIP for a longer period, typically 10 years or more because market-linked investments tend to perform better in the long run. Thanks to compounding, your earnings generate more earnings, helping you create wealth.
But if this is not for you, or you only want a small equity exposure, ULIP also allows you to choose where you want your money invested - debt funds or even a mix of debt and equity.
With these options and the dual benefit of insurance and investment, ULIP becomes quite an attractive option for people looking to build wealth while safeguarding their family’s future
If you have any health problems, you will likely have higher premiums.
Your lifestyle choices, such as smoking, drinking, and being overweight, can increase your premiums.
Risky professions such as construction, mining, oil exploration, firefighting, etc. will likely have higher premiums.
Step 1 - Gather the required documents - the policy documents, certificates, ID proof, etc.
Step 2 - Inform the insurer about the event by phone, email, website, or visiting a branch.
Step 3 - Fill out and submit the claim forms along with all of the required documents.
Step 4 - Track your claim through the website or by contacting customer support.
Step 5 - Once your claim is verified and approved, the payout will be processed.
The premiums paid for the plan are eligible for tax deductions up to ₹1,50,000 under Section 80C.
The maturity amount received if you survive the policy term is also tax-exempt in certain cases
The payout to your family on your demise is tax-free under Section 10(10D)** of the Income Tax Act 1961.
Withdrawals less than 20% of the fund value after the lock-in period are tax-free.
The following funds are available for investment under the Self- Managed Option
Yes, you have a grace period of 15 days for premium payment in monthly mode and 30 days in other modes. If you fail to make the premium payment within this grace period, the policy will lapse.
If you are unhappy with the coverage, terms, and conditions of the ABSLI Fortune Elite plan, you have the option to cancel it after receiving the policy documents. The period is within 15 days for policies purchased through branches and 30 days if purchased electronically as long as no claims have been made during that period.
No, unfortunately, the plan does not cover critical illness.
Yes, you have the flexibility to make unlimited partial withdrawals under certain conditions. These withdrawals can be initiated after either five complete policy years or when the life insured attains the age of 18, whichever occurs later. The minimum amount for each partial withdrawal is ₹ 5,000.
*Risk coverage starts from the first policy anniversary
**If the entry age is between 56 to 65 years (both inclusive), the minimum premium payment term will be 10 years
*Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
**Sec 10(10D) benefit is available subject to fulfilment of conditions specified therein
#Provided all due premiums are paid
1 ABSLI Fortune Elite Plan. – Male, Age:35 years, Annual premium: ₹75,000 for 5 years. Get ₹10,75,667/- @8%return and ₹5,18,860/- @4%return , Life Cover ₹7,50,000, PPT: 5 years Annual, Policy Term 20 years, Investment Option: Self-managed (mnc fund: 50%, pure equity fund: 50%).Refer to policy brochure for more details.
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 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. The name of the funds offered in this plan does not in any way 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 changes in fundamentals such as tax rates etc affecting the investment portfolio. Linked Life Insurance products are different from traditional insurance products and are subject to 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 the 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 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 funds 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 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. UIN: 109L090V05
ADV/10/23-24/2443
ADITYA BIRLA CAPITAL DIGITAL LIMITED is a corporate agent of Aditya Birla Sun Life Insurance Company under IRDAI Registration No: …………….CA0871 and does not underwrite the risk or act as an insurer
Registered Address: 18th Floor, One World Center, Tower 1, Jupiter Mills Compound,841 Senapati Bapat Marg, Elphinstone Road Delisle Road, Mumbai Maharashtra 400013. Participation by the ABCD’s clients in the insurance products is purely on a voluntary basis.
The Trade Logo “Aditya Birla Capital” Displayed Above Is Owned By ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) And Used By ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the License. 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 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. The name of the funds offered in this plan does not in any way 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 changes in fundamentals such as tax rates etc affecting the investment portfolio. Linked Life Insurance products are different from traditional insurance products and are subject to 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 the 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 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 funds 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 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 substandard lives, smokers or people having hazardous occupations etc. For policies issued on minor life, the date of commencement of risk shall be the date of commencement of the policy. Where a policy is issued on a minor life, the policy will vest after attainment of majority of the Life Insured. 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. Tax benefits are subject to changes in tax laws
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. Registered Office: One World Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI Reg No.109 | Toll Free No. 1-800-270-7000 | Website: https://lifeinsurance.adityabirlacapital.com | CIN: U99999MH2000PLC128110 | UIN:109L090V05| ADV/3/23-24/3883
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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.