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PROTECTING your happiness for years to come.
Life insurance coverage is available in this product.
Key Features
Guaranteed1 Returns: Full guaranteed benefits offering complete financial security
Long-Term Income: Regular guaranteed Income paid for 20, 25 or 30 years
Two Benefit Options: Flexibility to choose from Income only Benefit or Income Benefit with Return of Premium(RoP)
Loyalty Additions to enhance your Income benefit
Commutation Option: Flexibility to receive a discounted value of future benefits as a lump sum
Customizable Benefits: Option to enhance your insurance with appropriate rider options by paying an additional premium
ABSLI Common Quote
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What is ABSLI Assured Income Plus?
ABSLI Assured Income Plus is a non-linked non-participating individual life insurance savings plan. Through this plan now you can invest over a short period of time to earn guaranteed, recurring returns every year for long term.
Key Features
- Fully Guaranteed1 Returns on your investment
- Long-Term Income: Regular Income for 20, 25 or 30 years to ensure fulfilment of your recurring needs
- Two Benefit Options: Flexibility to choose from Income only Benefit or Income Benefit with Return of Premium (RoP)
- Loyalty Additions to enhance your benefits
- Option to commute and take present value of Income payments at any time as a lump sum
- Comprehensive protection through Life Cover
- Tax Benefits2
1Provided all premiums are paid.
2Tax benefits are subject to changes in tax laws. Please consult your tax advisor for more details.
| Product Specifications | ||||||||||||||
| Type of Plan | A Non-Linked Non-Participating Individual Life Insurance Savings Plan | |||||||||||||
| Coverage | All Individuals (Male | Female | Transgender) | |||||||||||||
| Age of the Life Insured at Entry (age as on last birthday) | Minimum | 11* years for Policy Term 7 years 9* years for Policy Term 9 years 5* years for Policy Term 13 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. |
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| Maximum | 60 years | |||||||||||||
| Maturity Age of the Life Insured (age as on last birthday) | Minimum | 18 years | ||||||||||||
| Maximum | 73 years | |||||||||||||
| Premium Payment Term (PPT), Policy Term (PT) and Benefit Payout Period |
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| Premium Payment Modes and Modal Factors | Annual | Semi-Annual | Quarterly | Monthly
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| Minimum Annualized Premium | Rs. 50,000 | |||||||||||||
| Maximum Annualized Premium | No Limit (subject to Board Approved Underwriting Policy) | |||||||||||||
| Minimum Sum Assured | Rs. 5,50,000 | |||||||||||||
| Maximum Sum Assured | Subject to Board Approved Underwriting Policy | |||||||||||||
| Benefit Options | The Policyholder at policy inception can choose from the following two options:
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| Benefit Payout Frequency | Annual | Semi-Annual | Quarterly | Monthly | |||||||||||||
What benefits does the Plan offer?
Survival Benefit
After the completion of the Policy Term, you will receive Income Benefit as per the benefit pay out frequency chosen.
A. Income only Benefit Option
Income Benefit as a percentage of annualized premium, will be paid to you depending on your entry age, premium amount, premium payment term and benefit pay out period.
Income Benefit (as a percentage of Annualized Premium) paid annually has been given below:
| Premium Payment Term (PPT) | 6 years | 8 years | 12 years | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Benefit Payout Period | 20 years | 25 years | 30 years | 20 years | 25 years | 30 years | 20 years | 25 years | |
| Age at entry <=50 year | AP < Rs. 1,00,000 | 42.50% | 38.75% | 36.25% | 62.50% | 56.25% | 53.75% | 120.00% | 108.75% |
| Age at entry <=50 year | AP >= Rs. 1,00,000 | 44.375% | 40.625% | 38.125% | 65.00% | 58.75% | 56.25% | 125.00% | 113.75% |
| Age at entry > 50 years | AP < Rs. 1,00,000 | 38.75% | 33.75% | 31.25% | 56.25% | 50.00% | 47.50% | 108.75% | 97.50% |
| Age at entry > 50 years | AP >= Rs. 1,00,000 | 40.625% | 35.625% | 33.125% | 58.75% | 52.50% | 50.00% | 113.75% | 102.50% |
B. Income Benefit with Return of Premium (RoP)
Income Benefit as a percentage of annualized premium, will be paid to you depending on your entry age, premium amount, premium payment term and benefit pay out period. Additionally, under this option, the total premiums paid by you will also be returned at the end of the Benefit Pay out Period.
Income Benefit (as a percentage of Annualized Premium) paid annually has been given below:
| Premium Payment Term (PPT) | 6 years | 8 years | 12 years | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Benefit Payout Period | 20 years | 25 years | 30 years | 20 years | 25 years | 30 years | 20 years | 25 years | |
| Age at entry <=50 year | AP < Rs. 1,00,000 | 27.50% | 28.75% | 30.00% | 42.50% | 43.75% | 45.00% | 87.50% | 88.75% |
| Age at entry <=50 year | AP >= Rs. 1,00,000 | 29.375% | 30.625% | 32.25% | 45.00% | 46.25% | 47.50% | 93.75% | 95.00% |
| Age at entry > 50 years | AP < Rs. 1,00,000 | 22.50% | 23.75% | 25.00% | 36.25% | 37.50% | 38.75% | 78.75% | 80.00% |
| Age at entry > 50 years | AP >= Rs. 1,00,000 | 24.375% | 25.625% | 26.875% | 38.75% | 40.00% | 41.25% | 85.00% | 86.25% |
C. Loyalty Addition
You get Loyalty Addition as a percentage of Income Benefit or Return of Premium, every year during the Benefit Pay out Period. The below table shows the detailed percentage.
| Annualized Premium (AP) | Loyalty Addition As a % of Income Benefit and RoP (if any) | |
| Premium Payment Term: 6 years | Premium Payment Term: 8 years and 12 years | |
| AP < Rs. 1.5 lakhs | 35.75% | 30.50% |
| Rs. 1.5 lakhs to < Rs. 3 lakhs | 36.50% | 32.50% |
| Rs. 3 lakhs to < Rs. 5 lakhs | 37.75% | 33.40% |
| AP >= Rs. 5 lakhs | 39.25% | 34.85% |
In case of death of the Life Insured during the Benefit Payout Period, the Income Benefit, RoP, if any, and Loyalty Addition will continue to be paid to the nominee. Loyalty Addition is applicable only for policies that have paid all the due premiums under the policy.
Maturity Benefit
At the end of the Policy Term, you will have the flexibility to use the commutation option wherein, if you would like to get a lump sum instead of the Income Benefits (and RoP, if any), the commuted value of the outstanding benefits shall be paid as a lump sum. The lump sum benefit is calculated at a discount rate of 8.35%. The Company may revise the factors based on the then prevailing market conditions subject to prior IRDAI approval.
Death Benefit
In case of the life insured’s unfortunate demise during the policy term, the death benefit will be payable as a lump-sum to the nominee.
Sum Assured on Death is defined as higher of:
10 times of Annualized Premium b) 150% of Total Premiums paid till the date of death c) Sum Assured
The nominee will have an option to receive the amount of Death Benefit in Annual/Monthly instalments instead of a lump-sum, over a period of 10 years as per the percentages given below:
| Instalments Frequency | Annual | Monthly |
| Instalment (as % of Death Benefit) | 12.190% | 1.037% |
| Total payments (as % of Death Benefit) | 121.90% | 124.44% |
Customisable Benefits
You can enhance your insurance cover during the policy term by adding the following riders for a nominal extra cost.
- ABSLI Critical Illness Rider (UIN: 109B019V03)
- ABSLI Surgical Care Rider (UIN: 109B015V03)
- ABSLI Hospital Care Rider (UIN: 109B016V03)
- ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)
- ABSLI Waiver of Premium (UIN:109B017V03)
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Disclaimer
Free Look Period
You will have the right to return Your Policy to us within 15 days (30 days in case of electronic policies (1) and the policies issued under the provisions of IRDAI Guidelines on Distance Marketing (2) of Insurance products) from the date of receipt of the Policy, in case You are not satisfied with the terms & conditions of Your Policy. We will refund the premium paid once we receive Your written notice of cancellation (along with reasons thereof) together with the original Policy document. We may reduce the amount of the refund by proportionate risk premium for the period of cover and expenses incurred by us on medical examination and stamp duty charges while issuing Your Policy in accordance to IRDAI (Protection of Policyholders Interest) Regulations, 2017.
(1) In case of electronic issuance of policies, the date of receipt or date of credit of electronic policies shall be determined as below.
For New Electronic Insurance Account (EIA): Date of receipt of the "Welcome Kit" from the Insurance Repository with the credentials to log into the EIA or delivery date of the E-Mail confirming credit of the Insurance Policy by the Insurance Repository into the EIA, whichever is later.
For existing EIA: Delivery date of the E-Mail confirming credit of the Insurance Policy by the Insurance Repository into the EIA.
(2) Distance Marketing includes every activity of solicitation (including lead generation) and sale of insurance products through voice mode, SMS electronic mode, physical mode (like postal mail) or any other means of communication other than in person.
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.
Tax benefits are subject to changes in the tax laws.
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked non-participating individual life insurance savings plan. 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. For policies issued on minor life, the date of commencement of risk shall be the date of commencement of the policy. Where a policy is issued on a minor life, the policy will vest aer attainment of majority of the Life Insured. Where the Life Insured (whether major or minor) and Proposer/Policyholder is different, on the death of the Proposer/Policyholder, his legal heirs, in accordance with the existing succession laws, will be considered as new Proposer/Policyholder. As there is no death benefit payable on the death of the Proposer/Policyholder, the policy status does not change, and the policy continues. This product shall also be available for sales through online channel. Tax benefits are subject to changes in tax laws. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. For more details and clarification call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true.
Website: www.adityabirlasunlifeinsurance.com
Registered Office:
One World Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013.
Toll Free No. 1-800-270-7000
CIN:U99999MH2000PLC128110
IRDAI Reg No.109
ADV/12/21-22/1717
UIN: 109N127V05
Grievance Redressal Click here
BEWARE OF SPURIOUS/FRAUD PHONE CALLS!
- IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.