When it comes to ensuring lifelong protection and financial security for your loved ones, Aditya Birla Sun Life Insurance (ABSLI) has consistently delivered trusted life insurance solutions. Among its top offerings, the ABSLI Guaranteed Milestone Plan (GMP) stands out, especially with its Joint Life Death Benefit feature. This plan is designed to offer guaranteed benefits, life cover, and savings for both single and joint policyholders.
In this article, we will focus on the Death Benefit (Joint Life) option under the Aditya Birla GMP and how it provides dual protection for couples and families.
What is the ABSLI Guaranteed Milestone Plan (GMP)?
The ABSLI Guaranteed Milestone Plan is a non-linked, non-participating life insurance savings plan offered by Aditya Birla Capital Life Insurance. It is specifically crafted for individuals who seek guaranteed benefits, protection, and milestone-based payouts.
Key highlights of the plan:
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Guaranteed lump sum payouts
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Flexibility to choose between Single Life or Joint Life cover
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Long-term savings with life cover
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Loyalty additions
The plan is preferred among many policyholders who value financial certainty and long-term goals like child education, marriage, or retirement.
Understanding Joint Life Cover in Aditya Birla Life Insurance Plans
The Joint Life Cover option under the Aditya Birla GMP allows two lives (usually spouses) to be covered under a single policy. This option is ideal for couples seeking comprehensive family protection.
Death Benefit in Joint Life (ABSLI Guaranteed Milestone Plan)
In the unfortunate event of the first policyholder's death, the plan provides a death benefit while continuing the cover for the surviving life assured. Here's how it works:
🔹 On First Death (During Policy Term)
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The Sum Assured on Death is paid to the nominee.
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The policy continues without any future premiums (Premium Waiver Benefit).
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All future benefits remain intact.
🔹 On Second Death (Surviving Life Assured)
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An additional Sum Assured is paid out to the nominee.
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The policy terminates post the second death.
✅ Sum Assured on Death = Higher of:
10 times the annual premium
105% of total premiums paid
Guaranteed Sum Assured on Maturity
The absolute amount assured to be paid on death.
This dual death benefit makes ABSLI life insurance one of India's best joint protection plans, ensuring complete peace of mind.
Why Choose Aditya Birla Sun Life Insurance Joint Life Option?
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Double Protection: Both partners are secured under one plan.
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Guaranteed Payouts: Fixed benefits irrespective of market fluctuations.
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Premium Waiver: The Surviving partner is not burdened with future premiums.
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Wealth Creation: Milestone payouts offer long-term savings.
Aditya Birla Sun Life Insurance Policy Details (GMP Joint Life)
| Feature | Details |
|---|---|
| Plan Type | Joint Life (Non-linked, Non-participating) |
| Death Benefit | Dual payout on first and second death |
| Premium Payment Term | Limited Pay options: 6, 8, 10, 12 years |
| Policy Term | Up to 25 years |
| Maturity Benefit | Guaranteed Milestone Benefit + Loyalty Additions |
| Entry Age | 18 to 55 years (Primary Life) |
| Maximum Maturity Age | 85 years |
Who Should Buy the ABSLI Guaranteed Milestone Plan (Joint Life)?
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Married couples looking for shared financial protection
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Parents seeking secure future for their children
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Individuals planning for dual legacy
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Families with long-term financial responsibilities
Conclusion
The Death Benefit (Joint Life) under the Aditya Birla Sun Life Insurance Guaranteed Milestone Plan is an ideal solution for couples wanting dual life protection, guaranteed returns, and future-proofing their financial goals. By opting for this smart and secure plan, you're not just investing in insurance—you're securing a milestone-based legacy for your family.
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