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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)
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.