IN THIS POLICY, INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER.
Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to withdraw/surrender the monies invested in Linked Insurance Products completely or partially till the end of the fifth year from inception.
Invest wisely today, build wealth
for tomorrow Aditya Birla Sun Life Insurance Wealth Smart Plus A Unit-Linked Non-Participating Individual Life Insurance Savings Plan ABSLI WEALTH SMART PLUS – AN OVERVIEW ABSLI Wealth Smart Plus, a unit-linked non-participating individual life insurance plan (ULIP) designed to cater to a diverse array of investment and protection needs of customer. With a keen focus on providing smart investment options, this plan serves as a versatile tool for securing your financial future. At its core, ABSLI Wealth Smart Plus empowers customer to build wealth strategically, whether it's to generate a steady income for retirement, fulfill your children's educational aspirations, or achieve your personal financial goals. With ABSLI Wealth Smart Plus, you can embark on your journey towards financial security with confidence, knowing that you have a robust and adaptable solution at your disposal.
KEY FEATURES OF ABSLI WEALTH SMART PLUS
ABSLI Wealth Smart Plus is a unit-linked non-participating individual life insurance savings plan that offers the following benefits:
1 2 Two Plan Options – Smart Life Option (coverage till Age 75) and Whole Life Option (coverage till Age 100)
Zero Premium Allocation Charge and Zero Policy
Administration Charge throughout Policy Term
Choice of 5 investment strategies and 19 funds to suit your
varied investment needs
Systematic Withdrawal Facility to enable regular withdrawals
from your Fund Value during the policy term to cater to your recurring monetary needs
Flexibility of partial withdrawals to meet any emergency fund
R
requirements R
Tax Benefits* may be applicable on Premiums paid and
Benefits received as per prevailing tax laws
* Tax Benefits are subject to changes in tax laws. Please consult your financial advisor for more details.
CREATE YOUR PLAN IN 3 SIMPLE STEPS:
Step 1: Choose Plan Option
Step 2: Choose your Annualized Premium, Premium Payment Term, Policy Term and Premium Payment Mode
Step 3: Choose your Investment Strategy and Fund Allocation
ABSLI WEALTH SMART PLUS AT A GLANCE
Product Specifications
Type of Plan A Unit-Linked Non-Participating Individual Life Insurance Savings Plan
Coverage All Individuals (Male | Female | Transgender)
Smart Life Option Whole Life Option
Minimum – 30 days* Minimum - 18 years Entry Age (age as Maximum – 60 years Maximum - For Limited Pay: on last birthday) 5 Pay: 40 years 6 Pay and above: 45 years For Regular Pay: 45 years
Maturity Age (age Minimum – 18 years 100 years (age last birthday) as on last birthday) Maximum – 75 years
Minimum `6,000 p.a. if paid semi-annually Premium `3,000 p.a. if paid quarterly `1,000 p.a. if paid monthly
Maximum No Limit (subject to Board Approved Underwriting Policy) Premium
Minimum Sum For Entry Age: 30 days to 50 years: R1,20,000 `1,20,000
Assured For Entry Age: 51 years and above: R84,000
Maximum Sum No Limit (subject to Board Approved Underwriting Policy) Assured
Premium Payment Limited Pay: 5 to 15 years Limited Pay: 5 to 15 years
Term (PPT) Regular Pay: 10 to 40 years Regular Pay: 100 minus Entry age
For Limited Pay (5 to 9 years): 10 years 100 minus Entry Age
Minimum Policy For Limited Pay (10 to 15 years): PPT + 1 Term For Regular Pay: 10 years
Maximum Policy 40 years 100 minus Entry Age Term
* risk commences from the policy issue date. For policies issued on minor lives of less than age 1 year (age last birthday), the date of issuance shall also be the date of commencement of risk. KEY BENEFITS OFFERED UNDER THE PLAN
Benefits Details
If the policy is in-force:
In case of Death of the Life Insured anytime during the Policy Term, while the policy is in-force, we will pay to the nominee/legal heir higher of: a. Fund Value as on date of intimation of death of the Life Insured; b. Sum Assured (reduced by partial withdrawals made during the two years immediately preceding the date of death of the Life Insured, if any) c. 105% of the of the Total Annualized Premiums received up to the date of death less any partial withdrawals made from the Fund Value, during two-year period immediately preceding the death of the life insured. Fund Value is equal to the number of units pertaining to Annualized Premiums allocated to the Fund(s) chosen by you multiplied by the respective NAV of the Fund(s). Death Benefit Where, the Sum Assured is 10 times of the Annualized Premium for entry ages upto 50 years and 7 times of the Annualized Premium for entry ages above 50 years. In case the Policy is issued on a minor life, the Policy will vest after attainment of majority of the Life Insured. Further any charges other than Fund Management Charges (FMC) recovered subsequent to the date of death shall be added back to the Fund Value as available on the date of intimation of death.
If policy is in discontinuance status:
In situations, as per the policy discontinuance provision, where the company has transferred the Fund Value net of discontinuance charges to the Linked Discontinued Policy Fund, the policy proceeds will be immediately released and paid upon the death of the Life Insured.
On survival of Life Insured up to the end of the Policy Term and
Maturity provided all due premiums under the policy have been paid or is a Benefit Reduced Paid-Up Policy, We shall pay the Fund Value in a lump sum to you or as a structured payout using Settlement Option if opted by you.
For added protection, you can enhance your risk coverage during the Policy Term by adding following riders at a nominal extra cost.
• ABSLI Accidental Death Benefit Rider Plus (UIN: 109A024V01)
Rider Benefits • ABSLI Waiver of Premium Rider (UIN: 109A039V01) For further details regarding the above-mentioned riders, please refer to respective rider brochure(s) available on our website.
You will have the right to return Your Policy to Us within 30 days from the date of receipt of the Policy, in case You disagree with the terms & conditions of Your Policy. We will refund the premium paid post receipt of written notice of cancellation (along with reasons thereof) together with the original Policy document from Your end. We may reduce the Free-look Period amount of the refund by proportionate risk premium for the period of cover and expenses incurred by us on medical examination, if any and stamp duty charges while issuing Your Policy in accordance with IRDAI (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024.
At any time during the Policy Term, You have the right to surrender the policy by advising the Company in writing. The surrender benefit is equal to the Fund Value less applicable discontinuance /surrender Policy charges. Policy can be discontinued/surrendered at any time but the Discontinuance discontinued/surrendered value will be subject to the provisions of the Policy. For further details please refer to the product brochure available on our website.
You may, at least 15 days prior to the Maturity Date, opt for a Settlement Option, pursuant to which the Company will continue to manage the funds for you for a maximum period of 5 years from the Maturity Date and make periodic payments. During the settlement Settlement period, Fund Management Charges shall continue to be levied. There Option shall be a risk cover equal to 105% of the Total Annualized Premiums paid and Mortality Charges will be deducted basis the Sum at Risk. During the settlement period, Partial Withdrawal is not allowed, however, Fund Switches is allowed Other Features Investment Strategies: 1. Systematic Transfer Investment Option: An option which replicates a rupee cost averaging method by systematically moving Your money from a debt to equity fund every month. 2. Return Optimiser Investment Option: A strategy that enables You to take advantage of the equity market, protect your gains from the future market volatility and create a more stable sequencing of investment returns. 3. Self-Managed Investment Option: A strategy where your money will be invested in Your choice of fund(s). 4. Smart Investment Option: A standardized approach for striking the right balance between debt and equity by rebalancing Your portfolio basis years to maturity remaining in Your policy. 5. Life Cycle Investment Option: An option to manage your funds by creating an ideal balance between equity and debt fund of Your choice, through systematic allocation based on Your age.
Fund Switching: If you have selected Self-managed/Systematic Transfer Investment Option then, you can switch from one fund to another fund, provided the switched amount is at least Rs. 5,000. Switches are not available under Systematic Transfer Option when the funds are in Liquid Plus Fund. There is no limit on the number of switches that can be exercised in a policy year and all switches are free of charge.
Premium Redirection: You can opt to redirect future premiums under the Self-Managed option by giving a written request and specifying percentage allocation amongst available 19 fund options. You can opt to redirect future premiums under Systematic Transfer Option by giving a written request and specifying percentage allocation amongst available 4 fund options. Premium Redirection is not available under Systematic Transfer Option when the funds are in Liquid Plus fund. A maximum of 12 Premium Redirections are allowed in a policy year and all are free of charge.
Systematic Withdrawal Facility:
Systematic Withdrawal Facility (SWF) is an automated partial withdrawal facility which can be opted by you anytime during the policy term. Systematic Withdrawals will start after your policy has completed 5 policy years and provided the attained age of the Policyholder is 18 years or above. These withdrawals will be in the form of a pre-decided percentage of the Fund Value and will be paid till the end of the Policy Term. You will need to choose the following: a. Systematic Withdrawal Percentage (5% or 10% of Fund Value at the end of the year) p.a. b. Payout frequency (annual, semi-annual, quarterly or monthly) c. Policy year from which the Systematic Withdrawal Facility will be payable. The Sum Assured will be reduced to the extent of the partial withdrawals made during the two-year period immediately preceding the death of the Life Insured from the Fund Value. HOW DOES THE PLAN WORK Mr. Agnihotri aged 35 years purchases ABSLI Wealth Smart Plus with the details as given below:
Plan Option Chosen: Whole Life Option | Annualized Premium: R1,00,000 | Premium Payment Term: 10 years | Policy Term: 65 years | Investment Option: Self-Managed Option | Fund Chosen: Nifty Alpha 50 Index Fund | Premium Payment Mode: Annual Mr. Sharma survives the entire policy term. You Give: R1,00,000 per year, for 10 Years (exclusive GST) You May Get: Total Benefit Return @8% R4,30,96,656 or @4% R41,83,246
Annualized Premium: `1,00,000
Total Premiums Paid: `10,00,000
Maturity Benefit
At 8% = R4,30,96,656 At 4% = R41,83,246 Premium Payment Term
These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance.
YOUR POLICY CHARGES
Premium Allocation Charge
Nil
Policy Administration Charge
Nil
Fund Management Charge
Fund Management Charge (as a percentage of the Net Asset Value) is deducted by adjusting the daily Net Asset Value of each Fund. It is as follows: • 1.00% p.a. for Liquid Plus, Income Advantage, Assure, Protector and Builder • 1.25% p.a. for Enhancer, Creator, Capped Nifty Index, Asset Allocation • 1.35% p.a. for MNC, Magnifier, Maximiser, Multiplier, Super 20, Pure Equity, ESG Fund , Small Cap Fund, Nifty Alpha 50 Index Fund, and Value & Momentum • 0.50% p.a. for Linked Discontinued Policy Fund
We may change the Fund Management Charge under any fund at any time subject to a maximum of 1.35% p.a. in the future subject to IRDAI approval.
Mortality Charge Mortality charge is based on the Sum at Risk and is deducted at the start of each month by cancellation of units proportionately from each Fund under the policy at the time.
The Sum at Risk is any excess of Death Benefit over Fund Value. The charge per 1000 of Sum at Risk will depend on the gender and attained age of the Life Insured.
Following are sample Mortality Charges per 1000 of Sum at Risk
Attained Age Age 25 Age 35 Age 45 Age 55 Age 65
Male* 1.30 1.68 3.61 10.52 22.30 Female 1.31 1.46 2.76 7.77 17.96 * The Mortality charge for Transgender will be same as male lives. Mortality charges are guaranteed throughout the policy term.
Miscellaneous Charges Nil
Discontinuance Charge The discontinuance charge is guaranteed to never increase and is levied against the Fund Value upon discontinuance. The charge on discontinuance or surrender of the policy will be: Policy Year of Annualized Premium up to R50,000/- Annualized Premium above R50,000/- Discontinuance 1 Lower of 20% of AP, 20% of FV, R3,000 Lower of 6% of AP, 6% of FV, R6,000 2 Lower of 15% of AP, 15% of FV, R2,000 Lower of 4% of AP, 4% of FV, R5,000 3 Lower of 10% of AP, 10% of FV, R1,500 Lower of 3% of AP, 3% of FV, R4,000 4 Lower of 5% of AP, 5% of FV, R1,000 Lower of 2% of AP, 2% of FV, R2,000 5+ Nil Nil
AP: Annualized Premium payable in a year; FV: Fund Value
Life Insurance coverage is available in this product. Contact our advisor or visit our website https://lifeinsurance.adityabirlacapital.com to know more about the various solutions. We provide a wide range of Life Insurance solutions to cater to your specific protection needs. As per section 10(10D) of the Income-tax Act, 1961, proceeds from life insurance policy issued on or after 1 April 2023 shall be taxable as income from other sources if the cumulative annual premium payable by taxpayer for life insurance policies exceeds ₹ 5 lacs.
“The Trade Logo “Aditya Birla Capital” Displayed Above Is Owned By ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) And Used By ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the License.” For more details on risk factor terms and conditions, please read sales brochure before concluding the sale. Linked Life insurance products are different from the traditional life insurance products and are subject to the risk factors. The premium paid in ULIP are subject to investment risk associated with equity markets. Aditya Birla Sun Life Insurance Company Limited is only the name of the Company and ABSLI Wealth Smart Plus is only name of the ULIP and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and applicable charges from your insurance agent or the intermediary, or policy documents. Various funds offered under the contract are the names of the funds and do not any way indicate the quaity of these plans, their future prospects and returns. Past performance of the Unit Linked fund of the company is not necessarily indicative of the future performance of any of these Unit linked fund(s). Aditya Birla Sun Life Insurance Company Limited Registered Office: One World Centre, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Customer Helpline Numbers 1-800-270-7000, Company Website: https://lifeinsurance.adityabirlacapital.com IRDAI Reg No.109 CIN: U99999MH2000PLC128110 UIN: 109L147V01 ADV/6/24-25/588
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