ABSLI Wealth Infinia

What is ABSLI Wealth Infinia?

ABSLI Wealth Infinia is a Unit Linked Insurance Plan (ULIP) designed to provide risk coverage and grow your wealth. It offers a choice of 18 fund options and 5 investment strategies. Note that you may not be able to withdraw/surrender the invested money completely or partially until the end of the fifth year from the start of the policy.

Features of ABSLI Wealth Infinia

Below are the features of ABSLI Wealth Infinia:

• Flexibility: Choose between two plan variants: Milestone (coverage till age 85) and Legacy (coverage till age 100).

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

• Return of Charges: Mortality and premium allocation charges are returned at maturity to boost the fund value.

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

• Investment Choices: Offers a choice of 5 investment strategies and 18 funds to suit varied investment needs.

• Policy Term Options: Flexibility to choose from a wide range of policy terms and premium paying terms.

• Life Cover: Provides life cover throughout the policy term.

Eligibility Criteria for ABSLI Wealth Infinia

Benefits of ABSLI Wealth Infinia

1. Maturity Benefit

   • On survival up to the end of the policy term, the fund value is paid in a lump sum or as a structured payout using the settlement option. Additionally, premium allocation and mortality charges collected during the policy term are added back to the fund value.

2. Death Benefit

   • Ensures financial security for your family in your absence. The death benefit is the higher of the fund value, sum assured, or 105% of the total premiums paid.

3. Loyalty Additions

   • Additional units are allocated to the fund based on the policy year and premium band.

4. Wealth Boosters

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

5. Tax Benefits

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

Riders Under ABSLI Wealth Infinia

• 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. Refunds the premiums collected after the date of the accident until the date of death, along with interest.

• ABSLI Waiver of Premium Rider: Funds future due premiums if the policyholder becomes completely disabled due to illness or accident, is diagnosed with a specified critical illness, or dies (only if other than the Life Insured).

• 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 brochure. Offers three variants: Silver (10 CIs), Gold (25 CIs), and Platinum (64 CIs).

Additional Details of ABSLI Wealth Infinia

• Investment Options:

  • Systematic Transfer Investment Option: This option is available for Single Pay policies or policies with an annual premium payment mode, and it mitigates risk from market volatility by allocating premiums to the Liquid Plus fund and then systematically switching them to other funds.

  • Return Optimiser Investment Option: Invests premiums in the Maximiser fund and transfers gains to the Income Advantage fund to protect against market volatility.

  • Self-Managed Investment Option: Provides complete control over investments with access to 18 funds.

  • Smart Investment Option: Allocates premiums between the Maximiser (equity fund) and Income Advantage (debt fund) based on the selected maturity date and risk profile, automatically switching to safer assets as maturity approaches.

  • Life Cycle Investment Option: Automatically shifts investments from riskier to safer assets based on age and risk profile.

  

• Funds: Offers 18 funds ranging from 100% debt to 100% equity. Examples include Liquid Plus, Income Advantage, Assure, Protector, Builder, Enhancer, Creator, Magnifier, Maximiser, Multiplier, Super 20, Pure Equity, Value & Momentum, Capped Nifty Index, Asset Allocation, MNC, ESG Fund & Small Cap Fund.

• Fund Switching: You have the flexibility to switch monies from one fund to another at any time provided the switched amount is at least R5,000.

• Premium Redirection: You can redirect future premiums by changing your premium allocation percentages at any time. A maximum of 12 premium redirections are allowed in a policy year, free of charge.

• Partial Withdrawal: Allowed any time after five complete policy years or when the life insured attains 18 years of age, whichever is later, with a minimum amount of R5,000.

• Settlement Option: Option to continue managing the funds and receive periodic payments for up to five years after the maturity date.

• Systematic Withdrawal Facility (SWF): An automated partial withdrawal facility that allows you to withdraw a pre-decided percentage (5% or 10%) of the fund value annually, semi-annually, quarterly, or monthly after the policy has completed 5 years and the policyholder is 18 years or above.

• Policy Discontinuance: If the policy is discontinued during the first five years due to non-payment of premium, the fund value, after deducting applicable charges, will be credited to the Linked Discontinued Policy Fund. After five years, the policy can be revived or converted into a reduced paid-up policy.

• Policy Revival: The policy can be revived within three years from the due date of the first unpaid premium by paying all due premiums and providing evidence of insurability.

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

Exclusions Under ABSLI Wealth Infinia

Suicide Exclusion:

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