ABSLI Platinum Gain Plan

What is the ABSLI Platinum Gain Plan?

ABSLI Platinum Gain Plan is a unit-linked, non-participating, individual life insurance savings plan designed to help you plan your finances for the future. It offers life insurance coverage along with wealth creation opportunities. With this ULIP plan, you can select from 18 fund options and 5 investment strategies, providing control over your savings. However, you cannot withdraw or surrender the invested money completely or partially until the end of the fifth year from the policy's start.

Features of ABSLI Platinum Gain Plan

Below are the features of ABSLI Platinum Gain Plan: 

• Choice of Sum Assured Multiple: Select between 7X and 10X.

• Wealth Boosters and Loyalty Additions: These are added periodically to enhance your fund value.

• No Policy Administration Charges: This helps maximize your investment.

• Return of Mortality and Premium Allocation Charges: These charges are returned at maturity to boost your fund value.

• Life Cover: Provides financial security for your family throughout the policy term.

• Investment Options: Choose from 5 investment strategies and 18 funds.

• Tax Benefits: Tax benefits may be applicable on premiums paid and benefits received as per prevailing tax laws.

• Flexibility: Offers a wide range of policy terms and premium payment terms.

• Systematic Withdrawal Facility: Enables regular withdrawals from your fund value during the policy term.

Eligibility Criteria for ABSLI Platinum Gain Plan

Benefits of ABSLI Platinum Gain Plan

Below are the benefits of ABSLI Platinum Gain Plan: 

1. Death Benefit

   In the event of the life insured's death during the policy term, the nominee will receive the higher of:

   • Fund Value as of the date of death intimation

   • Sum Assured (reduced by partial withdrawals made during the two years before death)

   • 105% of total annualized premiums received until death (reduced by partial withdrawals in the two years before death)

2. Maturity Benefit

   • On surviving the policy term, the fund value is paid as a lump sum or via a structured payout using the settlement option. Additionally, all premium allocation and mortality charges collected during the policy term are returned by adding additional units to the fund value.

3. Loyalty Additions

   • Additional units are credited to the policy starting from the end of the 6th or 11th policy year, increasing annually.

4. Wealth Boosters

   • Additional units are allocated to your fund starting from the end of the 10th policy year and every 5 years thereafter.

Riders Under the ABSLI Platinum Gain Plan

• ABSLI Accidental Death Benefit Rider Plus: Pays 100% of the rider sum assured to the nominee in case of accidental death within 180 days of the accident. It also refunds the premiums collected after the accident until the date of death, along with interest.

• ABSLI Waiver of Premium Rider: Funds future premiums if the policyholder becomes completely disabled due to illness or accident or is diagnosed with a specified critical illness.

• ABSLI Comprehensive Critical Illness Rider: Pays the rider sum assured in a lump sum if the life insured is diagnosed with a critical illness, as per the rider variant (Silver, Gold, or Platinum).

Additional Details of ABSLI Platinum Gain Plan

• Investment Strategies:

  • Systematic Transfer Investment Option

  • Return Optimiser Investment Option

  • Self-Managed Investment Option

  • Smart Investment Option

  • Life Cycle Investment Option

  

• Fund Options: The plan offers 18 funds ranging from 100% debt to 100% equity.

• Partial Withdrawals: Allowed after five complete policy years, with a minimum amount of ₹5,000 and a maximum of 25% of the fund value.

• Policy Discontinuance: If the policy is discontinued due to non-payment of premium, the fund value is credited to the Linked Discontinued Policy Fund after deducting applicable charges. The policy can be revived within three years.

• Free-look Period: You have 30 days from the receipt of the policy to return it if you are not satisfied with the terms and conditions.

Exclusions Under ABSLI Platinum Gain Plan

Suicide Exclusion:

In case of death due to suicide within 12 months from the policy's start or revival date, the nominee will be entitled to the fund value as of the date of death intimation.