ABSLI Akshaya Plan - Eligibility

Type of Plan

A Non-Linked Participating Individual Savings Life Insurance Plan

Coverage

All Individuals (Male | Female | Transgender)

Benefit Options

At policy inception, You will have the option to choose from the below mentioned Benefit Options:

Long Term Income
Whole Life Income

The Benefit Option once chosen cannot be changed thereafter.

Premium Payment Term (PPT)

6 years | 8 years | 10 years | 12 years | 15 years

Policy Term (PT)

Long Term Income:

Premium Payment Term	Policy Term
6 years	25 \| 30 \| 35 \| 40 years
8 years
10 years
12 years
15 years

Whole Life Income:

At inception, you have the flexibility to choose coverage till age 85 or age 100 years.

Premium Payment Term	Policy Term
6 years	Coverage till Age 85: 85 years less Age at Entry Coverage till Age 100: 100 years less Age at Entry
8 years
10 years
12 years
15 years

The Policy Term once chosen at inception cannot be changed thereafter for both the Benefit Options.

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

Minimum

30 days* * 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 policy issue date.

Maximum

55 years

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

Minimum

18 years

Maximum

Benefit Option	Premium Payment Term	Maximum Maturity Age
Long Term Income	6 years	84 years
	8 years
	10 years
	12 years
	15 years
Whole Life Income	6 years, 8 years, 10 years, 12 years, 15 years	85 years
Whole Life Income	6 years, 8 years, 10 years, 12 years, 15 years	100 years

Minimum Annualized Premium

Rs. 24,000

Maximum Annualized Premium

No Limit (subject to Board Approved Underwriting Policy)

Premium Payment Frequency and Frequency Loadings

Annual | Semi-Annual | Quarterly | Monthly

Frequency	Annual	Semi-annual	Quarterly	Monthly
Modal Factors	0.0%	2.0%	3.0%	4.0%

Cash Bonus Pay-out Frequency

You can choose to receive the Cash Bonus (if declared) in annual, semi-annual, quarterly or monthly frequency and the Cash Bonus (if declared) is payable at the end of the year, half-year, quarter or month, as the case may be. Please Note – The default option available for the Policyholder is Cash Bonus (if declared). The Policyholder can also opt to accumulate the Cash Bonus (if declared) anytime during the Policy Term, by giving a 30-day advance notice and shall be applicable from the next policy anniversary. Thus, at Policy inception only Cash Bonus (if declared) can be availed by the Policyholder.

Minimum Sum Assured

Rs. 1,54,560

Maximum Sum Assured

No Limit (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
Annualized Premium (Rs.)	24,000 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	5,00,000+