ABSLI Assured Savings Plan - Eligibility

Type of Plan

A Non-Linked Non-Participating Individual Savings Life Insurance Plan

Coverage

All Individuals (Male | Female | Transgender)

Benefit Option

Lumpsum Payout at Policy Maturity

Minimum Annualized Premium

Single Pay: Rs.100,000
5 Pay: Rs.20,000
6-12 Pay: Rs.30,000

Maximum Annualized Premium

No Limit (subject to Board Approved Underwriting Policy)

Age of the Life Insured at Entry (Age as on last birthday)

Minimum

Single Life: 30 days*
Joint Life: 18 years

In case the Life Insured is a minor, the Policy will automatically vest in favour of Life Insured after attainment of majority of the Life Insured. For policies issued on minor life, the date of commencement of risk shall be the date of commencement of the policy.

Maximum

Single Life: 65 years
Joint Life: 50 years
Single Pay Option B: 50 years

Maturity Age of the Life Insured (Age as on last birthday)

Minimum

18 years

Maximum

85 years
Single Pay Option B: 70 years

Premium Payment Term (PPT) & Policy Term (PT)

Premium Payment Term (Years)	Policy Term (Years)
Premium Payment Term (Years)	Minimum	Maximum
Single Pay	5	20
5	10	35
6	12
7	13
8	14
9	15
10	16
11	17
12	18

Premium Payment Frequency and Frequency Loadings

Frequency	Annual	Semi-annual	Quarterly	Monthly
Modal Factors	0.0%	3.5%	5.0%	6.0%

Premium Bands

Annualized Premium	Band 1	Band 2	Band 3	Band 4	Band 5	Band 6
Single Pay	NA	NA	100,000 to 199,999	200,000 to 499,999	500,000 to 24,99,999	25,00,000 & above
Limited Pay	Upto 49,999	50,000 to 99,999	100,000 to 199,999	200,000 to 499,999	500,000 to 24,99,999	25,00,000 & above