ABSLI Nishchit Aayush Plan - Eligibility

Product Specifications

Type of Plan

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

Coverage

All Individuals (Male | Female | Transgender)

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

Minimum

Long Term Income: 30 days* Whole Life Income: 30 years * In case the Life Insured is a minor, the Policy will automatically vest once the life insured attains the age of majority. The risk coverage for the minors will start from the Date of Commencement of Risk.

Maximum

55 years

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

Minimum

18 years

Maximum

Long Term Income: 85 years (age last birthday) Whole Life Income: 100 years (age last birthday)

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

Premium Payment Term (Years)	Policy Term (Years)
Premium Payment Term (Years)	Long Term Income				Whole Life Income
6 Pay	25	30	35	40	100 (–) Age at Entry
8 Pay	25	30	35	40
10 Pay	-	30	35	40
12 Pay	-	30	35	40

Premium Payment Modes and Modal Factors

Annual | Semi-Annual | Quarterly | Monthly

Mode	Annual	Semi-annual	Quarterly	Monthly
Modal Factors	0%	2.0%	3.0%	4.0%

Minimum Annualized Premium

Income Only Benefit

Upto Age 45 years: Rs. 50,000
Age 46 years and above: Rs. 1,00,000

Other than Income Only Benefit

Rs. 30,000

Maximum Annualized Premium

No Limit (subject to Board Approved Underwriting Policy)

Minimum Sum Assured

Rs. 2,10,000

Maximum Sum Assured

Subject to Board Approved Underwriting Policy

Premium bands

The benefits under this product vary by premium bands as mentioned below:

Premium Bands	Band 1	Band 2	Band 3	Band 4	Band 5	Band 6	Band 7
Annualized Premium (Rs.)	30,000 to 49,999	50,000 to 99,999	1,00,000 to 1,99,999	2,00,000 to 2,99,999	3,00,000 to 4,99,999	500,000 to 24,99,999	25,00,000+

Benefit Options

ABSLI Nishchit Aayush Plan provides you the flexibility to customize Your regular income requirements as per Your goals,

Step 1: Choose Your Benefit Option

Long Term Income or,
Whole Life Income

Step 2: Choose the Income Variant

Level Income with Lumpsum Benefit or,
Level Income with Enhanced Lumpsum Benefit or,
Increasing Income (@5% simple interest rate every 5 years) with Lumpsum Benefit
Level Income with Return of Premium Benefit
Income Only Benefit

Step 3: Choose to receive income immediately or after a deferment period of 1 year as per the chosen income payout frequency. Benefit options chosen at inception cannot be changed thereafter. Premium will vary depending upon the Option chosen at inception.

Benefit Payout Frequency

You can choose to receive income benefit in annual or semi-annual or quarterly or monthly frequency. Income will be paid at the end of chosen frequency as opted by you.