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ABSLI Income Assured Plan
A traditional non-participating life insurance plan

You diligently chalk out plans and work hard in life to give your near and dear one's a financially secure future. But, uncertainties can always put you on the back foot. To fulfil the rising needs of life at various stages what you need is a product that guarantees returns, no matter the situation. So, when you get closer to realising your dreams/aspirations, an extra stream of income will always be there to help realise those dreams. Aditya Birla Sun Life Insurance Income Assured Plan, helps you plan your future better by creating a corpus in the long run that helps you realise your dreams and various financial goals.

How to apply?

  • STEP 1: Choose the Sum Assured
  • STEP 2: Choose your pay term and policy term

How does the plan work?

You can customise your policy to suit your needs by choosing the pay term and the policy term. You can choose from the following:
- 5 years pay term for 15 years policy term
- 7 years pay term for 17 or 22 years policy term
- 10 years pay term for 20 or 25 years policy term

In the event of the Life Insured surviving to the end of the Premium-Paying Term, the Life Insured will receive:

Option A: Assured Income of 8.0% of Sum Assured per annum payable monthly after the premium-paying term till maturity of the policy

Option B: Accumulate the Assured Income and receive as a lump sum at the end of policy term. The accrued Assured Income will be increased to 130% (for policy terms of 15, 17 and 20 years) and 150% (for policy terms of 22 and 25 years)

Guaranteed Additions will be added to your policy at the beginning of each quarter aer the completion of the premium payment term, until policy maturity date. The quarterly Guaranteed Addition rate will be 1/4th of the per annum rate. The Guaranteed Additions per annum as a percentage of Sum Assured for the various premium paying terms are given below:

Premium-Paying Term
Guaranteed Additions
5 years
7%
7 years
8.5%
10 years
10%

In the unfortunate event of death of the life insured during the policy

  • Sum Assured(1) on death; plus
  • Guaranteed Additions accrued to date of death

In addition, we will also pay the increased accrued Assured Income (if opted for).

(1)Sum Assured on Death is highest of:

  • Sum Assured as absolute amount to be paid on death; or
  • 10 times of the annual premium (excluding applicable taxes, any applicable rider premiums and underwriting extras, if any); or
  • 105% of total premiums paid up to date of death (excluding applicable taxes, any applicable rider premiums and underwriting extras, if any); or

  • Maturity Sum Assured
    The Maturity Sum Assured is the Sum Assured under this plan.
    If the life insured is different from the policyholder, we shall pay the above death benefit to the policyholder. The policy shall be terminated once the death benefit is paid.

In the event that the life insured survives to the end of the policy term, you will receive:

  • Sum Assured; plus
  • Guaranteed Additions accrued to date

In addition, we will also pay the increased accrued Assured Income (if opted for).

As per extant tax laws, this plan offers tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961, subject to fulfillment of the other conditions of the respective sections prescribed therein.

Tax benefits are subject to changes in tax laws. Please consult your tax advisor for more details.

Furthermore, you can enhance your insurance coverage by adding the following riders for a nominal extra cost.

  • ABSLI Accidental Death and Disability Rider (UIN: 109B018V03)
  • ABSLI Critical Illness Rider (UIN: 109B019V03)
  • ABSLI Surgical Care Rider (UIN: 109B015V03)
  • AABSLI Hospital Care Rider (UIN: 109B016V03)
  • ABSLI Waiver of Premium (UIN: 109B017V02)
  • ABSLI Accidental Death Benefit Rider Plus (UIN:109B023V01)

You can only opt for either ABSLI Accidental Death and Disability Rider or ABSLI Accidental Death Benefit Rider Plus

Please refer to detailed brochures on riders, consult your financial advisor or visit our website for further details.

Please click here to Download product brochure
Please click here to download policy contract
Disclaimer

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). All terms and conditions are guaranteed throughout the policy term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations, etc. The insurance cover for the life insured will commence on the policy issue date. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding the sales. Tax benefits are subject to changes in the tax laws. Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Registered Office: One Indiabulls Centre,Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. IRDAI reg no.109 CIN: U99999MH2000PLC128110 ADV/3/17-18/1936 VER1/MAR/2018

UIN: 109N089V04