ABSLI Titanium Plus Plan
Product Info
UIN
109L049V01
Status
Withdrawn
Launch Date
11/12/2009
Withdrawn Date
31/08/2010
Product Overview
ABSLI Titanium Plus Plan comes with a complete suite of 10 well established unit-linked investment funds in the Self-Managed Option offering you the range from 100% debt to 100% equity to suit your particular needs and risk appetite – Income Advantage, Assure, Protector, Builder, Enhancer, Creator, Magnifier, Maximiser, Multiplier and Super 20. It offers the customer a range between 100% debt to 100% equity to suit their particular needs and risk appetite.
Product Description
- A unit Linked Plan.
- 10 investment funds available in the product.
- The Death Benefit paid to the nominee is higher of sum assured and fund value.
- Premium paying term is for 10years.
COMPARE & BUY SIMILAR PLANS
Unique Features
- Under the guaranteed option of the plan, premiums for the first 3 years is invested in a series "Titanium Funds" launched by the company every 3 months.
- On the 5th policy anniversary, these units are redeemed at a higher of current NAV or GUP and reinvested in a new "Titanium Fund".
- Along with this, the plan also provides loyalty guaranteed additions @3% of all premiums paid on the 5th year and the 10th year.
Eligibility Criteria
| Eligibility Criteria | |
| Min. Entry Age | 8 years |
| Max. Entry Age | 70 years(Age last birthday) |
| Max age of Maturity | Till Age 70 years |
| Min Regular Premium | Rs. 12,000 p.a. |
| Min Top-up Premium | Rs. 5000(Each top-up premium will increase base Sum Assured by 125% of the top-up premium) |
| Min Sum Assured | Minimum 5 x Annual Policy Premium |
| Max Sum Assured | No limit subject to medical and financial underwriting |
OneInsure App Benefits
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Product Benefit
- Maturity Benefit:
Fund Value will be received at maturity. If you have opted for the guaranteed option, you will receive an amount equal to number of units in Titanium fund multiplied by Guaranteed Unit Price.
- Death Benefit:
- In the unfortunate event of the death of the life insured prior to maturity, we will pay to the nominee the greater of (a) the Fund Value or (b) the Sum Assured reduced for partial withdrawals as follows:
- Before the life insured attains the age of 60, the Sum Assured payable on death is reduced by partial withdrawals made in the preceding two years.
- Once the life insured attains the age of 60, the SA payable on death is reduced by all partial withdrawals made from Age 58 onwards.
Other Policy Features
| Feature | Description | ||||||
|---|---|---|---|---|---|---|---|
| Surrender | You will receive Fund Value (net of any surrender charge). No Charge applicable on completion of 5 years | ||||||
| Top-Up | Minimum top-up premium is Rs. 5,000 and the maximum top-up premiums till date shall be capped at 25% of all policy premiums till date. | ||||||
| Top-up premiums are not allowed during the first 3 policy years if you choose the Titanium Fund. | |||||||
| Partial Withdrawals | No maximum limit, but need to maintain a minimum Fund Value equal to one annual premium plus any surrender charge or top-up premiums paid in the previous three years, whichever is higher. | ||||||
| Unlimited partial withdrawals after 3 policy years | |||||||
| Loyalty Additions | Each loyalty addition will be 3% of all policy premiums (excluding top-up premiums) paid in the previous 5 years. | ||||||
| 15% of the annual policy premium at the end of the 5 policy years and again 15% at maturity will be received. | |||||||
| Guaranteed loyalty additions at the end of the 5 policy years and again at when the maturity is received. | |||||||
| Self-Managed Option | 100% balance of debt and equity as allocated to the policyholder wherein they have the right to choose which fund he is interested to invest in specified 10 funds - Income Advantage, Assure, Protector, Builder, Enhancer, Creator, Magnifier, Maximiser, Multiplier and Super 20. | ||||||
| They have the right to switch into any fund within the 10 funds offered by the company. | |||||||
| Guaranteed option | |||||||
| Guaranteed Unit Protection | Non-Guaranteed Unit Appreciation | ||||||
| On 5 Anniversary | GUP of at least 10 | any unit appreciation in the first 5 years | |||||
| At Maturity | GUP + any unit appreciation in the first 5 years | any unit appreciation in the last 5 years | |||||
| Note:- This Guaranteed Unit Price plus any additional unit appreciation becomes your new unit guarantee at maturity. | |||||||
| Fund Switch/Redirection | We currently do not levy any charges on requests for premium re-direction, fund switch and partial withdrawal. | ||||||
| Settlement Options | Not Available | ||||||
| INVESTMENT FUNDS | |||||||
| Investment Fund | Risk Profile | Asset Allocation | Minimum | Maximum | |||
| Income Advantage | Very Low | Debt Instruments, Money Market & Cash | 100% | 100% | |||
| Equities & Equity Related Securities | 0% | 0% | |||||
| Assure | Very Low | Debt Instruments, Money Market & Cash | 100% | 100% | |||
| Equities & Equity Related Securities | 0% | 0% | |||||
| Protector | Low | Debt Instruments, Money Market & Cash | 90% | 100% | |||
| Equities & Equity Related Securities | 0% | 10% | |||||
| Builder | Low | Debt Instruments, Money Market & Cash | 80% | 90% | |||
| Equities & Equity Related Securities | 10% | 20% | |||||
| Creator | Medium | Debt Instruments, Money Market & Cash | 50% | 70% | |||
| Equities & Equity Related Securities | 30% | 50% | |||||
| Magnifier | High | Debt Instruments, Money Market & Cash | 10% | 50% | |||
| Equities & Equity Related Securities | 50% | 90% | |||||
| Maximiser | High | Debt Instruments, Money Market & Cash | 0% | 20% | |||
| Equities & Equity Related Securities | 80% | 100% | |||||
| Multiplier | High | Debt Instruments, Money Market & Cash | 0% | 20% | |||
| Equities & Equity Related Securities | 80% | 100% | |||||
| Super 20 | High | Debt Instruments, Money Market & Cash | 0% | 100% | |||
| Equities & Equity Related Securities | 0% | 100% | |||||
| Note: In each Investment Fund except Titanium, the Money Market & Cash asset allocation will not exceed 40%. Money Market Instruments are debt instruments of less than one year maturity | |||||||
| Grace Period and Revival | If you are unable to pay your premium by the due date, you will be given a grace period of 30 days (15 days for monthly mode) and during this grace period, all coverage under your policy will continue. You can reinstate your policy for its full coverage within two years from the due date of the first unpaid premium by paying all outstanding premiums together with interest. | ||||||
Add-ons
Riders Not Available
Charges
| Charges | ||||||
|---|---|---|---|---|---|---|
| Mortality Charge | ||||||
| Attained Age | Female | Male | ||||
| 25 | 1.284 | 1.328 | ||||
| 35 | 1.387 | 1.535 | ||||
| 45 | 2.287 | 2.822 | ||||
| 55 | 5.34 | 7.105 | ||||
| 65 | 13.197 | 17.459 | ||||
| Surrender Charge | 40% of annual policy premium if less than 3 policy years are completed | |||||
| 20% of annual policy premium if less than 4 policy years are completed | ||||||
| 10% of annual policy premium if less than 5 policy years are completed | ||||||
| Miscellaneous Charges | We reserve the right to charge up to Rs. 500 per request in the future. | |||||
| We currently charge Rs. 100 per policy revival. We may increase this charge in the future subject to a maximum of Rs. 1,000 per revival. | ||||||
| Allocation Charges | 10% of policy premium received in the first policy year | |||||
| 5% of policy premium received after the first policy year | ||||||
| 2% of top-up premium received in any policy year | ||||||
| Policy Admin Charges | 0.24% p.m. on the first Rs.25,000 of annual policy premium in all policy years; plus | |||||
| 0.40% p.m. of annual policy premium in the first three policy years only | ||||||
| The policy administration charge is deducted monthly by cancelling units proportionately from each investment fund you have at that time | ||||||
| Fund Management Charges | 1.00% p.a. for Income Advantage, Assure, Protector and Builder | |||||
| 1.25% p.a. for Enhancer and Creator | ||||||
| 1.35% p.a. for Magnifier, Maximiser, Multiplier and Super 20 | ||||||
| 1.50% p.a. for Titanium Fund of which 0.30% is to provide for the investment guarantee | ||||||
| The daily unit price of each investment fund is adjusted to reflect the fund management charge | ||||||
| Surrender Charges | There is no surrender charge once your policy completes five policy years. | |||||
| Mortality Charges | We will redeem units from your investment funds once a month to pay for the maturity Charge. | |||||
Exclusions
If the Life Insured under the Policy, whether medically sane or insane, commits suicide, within one year of the date of issuance of the Policy, the Policy shall be void and the Company will only be liable to pay the premiums paid till date.
Tax Benefits
Tax Benefit under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 1961.
Claim Process
Know Claim Process of ABSLI Titanium Plus Plan
Company Overview
Aditya Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a well known Indian conglomerate and Sun Life Financial Inc, one of the leading international financial services organizations from Canada.
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