ABSLI Guaranteed Milestone Plan

ABSLI Guaranteed Milestone plan also offers guaranteed assured income payable as maturity benefit or death benefit. The policyholders can also opt for a loan facility to meet their urgent financial contingencies. This way, the policy takes care of various future financial needs of assured life and offers scope to meet those needs effectively.

ABSLI Guaranteed Milestone plan Details:

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Benefits of ABSLI Guaranteed Milestone Plan

There are different offered by ABSLU Guaranteed Milestone Plan. They are as follows:

Flexibility: ABSLI Guaranteed Milestone Policy offers flexibility to choose different premium modes, premium terms, and plans to meet various financial contingencies. The policy has plans for single life and joint life. The single life policy is applicable for individual life, and the Joint Life policy is applicable for two lives.

Maturity Benefit: The policyholders will get the sum assured on maturity and accrued guaranteed additions as maturity benefit at the end of the premium payment term.

Guaranteed Additions: It will offer accrued monthly additions for each policy month depending on the premiums paid and the Sum Assured. In the case of the Joint Life option chosen, the benefits will be offered based on the sum assured by the primary beneficiary.

Death Benefit: The policyholder's nominee will get the higher of the Assured Sum in Death, or 105% X total premiums paid, or 10 X annualized ABSLI Guaranteed Milestone Plan premium. For the Single Life policy, this sum would be paid to the nominee in 10 equal installments, given annually. It is applicable for joint life policy also. Here, the sum assured applicable for the spouse would be 20% of the Applicable Sum Assured. However, if the primary policyholder dies, then the secondary insured will not require providing any future premiums. 

Loan Facility: The policyholders can take the loan facility once it acquires the surrender value. They can take a loan minimum of Rs. 5000 and the maximum 85% of Surrender Value.

Tax Benefits: ABSLI Guaranteed Milestone Policy offers tax benefits as per Section 80C, 80D, and 10(10D) of Income Tax Act 1961. The tax benefits will also follow the norms of Section 194DA.

The Premium for ABSLI Guaranteed Milestone Plan

The policyholders must pay the minimum premium amount of Rs. 15,000 and maximum premium amount as per company discretion if they buy ABSLI Guaranteed Milestone Plan. 

The policyholders can pay ABSLI Guaranteed Milestone Plan premium through monthly, quarterly, semi-annually, and annual mode. They can also choose different terms of payment. However, they can assure a sum of fifteen times the annualized premium. It is recommended that the interested individuals must select the premium amount through the ABSLI Guaranteed Milestone Plan calculator available online.

Additional Riders for ABSLI Guaranteed Milestone Plan

ABSLI Guaranteed Milestone Policy offers the following additional riders.

• ABSLI Accidental Death Benefit Rider Plus
• ABSLI Critical Illness Rider 
• ABSLI Hospital Care Rider 
• ABSLI Surgical Care Rider
• ABSLI Accidental Death and Disability Rider 
• ABSLI Waiver of Premium Rider 

Eligibility for ABSLI Guaranteed Milestone Plan

• Entry age: 30 days - 60 days
• Maturity age: Minimum 18 years

What are the Documents Required to Buy this Policy?

The applicants must provide the following documents to complete the KYC process of the chosen policy successfully.

• Identity proof: Voter's ID, PAN card, AADHAR card, passport, driving license, etc.
• Address proof: Voter's ID, AADHAR card, passport, driving license, ration card, etc.
• Income proof: Salary slips, Income tax returns etc.

How to Buy this Plan Online?

The policyholders must follow the steps below by clicking the "Buy Now" button on the company website to buy ABSLI Guaranteed Milestone Plan.

Step 1: Visit the official website of Policybazaar.com 

Step2: The policyholders must calculate the premium amount based on terms, modes, assured sum, age, and other factors through the ABSLI Guaranteed Milestone Plan calculator.

Step3: In this stage, they can also customize the plan and add applicable riders as suitable.

Step4: They must provide personal details, contact details, identity proof, and other required information for documentation and communication purposes.

Step5: The policyholders are required to make payments and purchase the policy at the online ABSLI Guaranteed Milestone Plan payment platform through debit, credit, or net banking solutions.

The policyholders are advised to read ABSLI Guaranteed Milestone Plan reviews available online before buying the policy.

Exclusions of ABSLI Guaranteed Milestone Plan

The policy excludes benefits in case of death due to a suicide attempt. It will offer a higher total premium paid or surrender value at the date of death if the death occurs within one year from the policy revival date or risk commencement date. If a joint life policy is chosen, the benefit will be offered either the death of the primary or secondary policyholder. 

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