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ABSLI Assured Income Plus Plan

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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.
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
Premium Payment Term (PPT) Policy Term (PT): PPT + 1 year Benefit Payout Period*
6 years 7 years 20, 25, 30 years
8 years 9 years 20, 25, 30 years
12 years 13 years 20, 25 years
*The Benefit Payout Period commences after the end of the Policy Term, during which the Survival Benefit is payable to the Policyholder. It is chosen at policy inception and cannot be changed thereafter.
Premium Payment Modes and Modal Factors Annual | Semi-Annual | Quarterly | Monthly
Mode Annual Semi-annual Quarterly Monthly
Modal Factors 0.0% 1.0% 1.5% 3.5%
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:
  1. Income only Benefit
  2. Income Benefit with Return of Premium (RoP) [where the Total Premiums paid is returned at the end of the Benefit Payout Period]
The Benefit Option is chosen at inception and cannot be changed thereafter
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% 31.875% 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%

B.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)
AP < ₹ 1.5 lakhs 22%
₹ 1.5 lakhs to < ₹ 3 lakhs 23.5%
₹ 3 lakhs to < ₹ 5 lakhs 24.4%
AP > = ₹ 5 lakhs 25.6%

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) 12.022% 1.021%
Total payments (as % of Death Benefit) 120.22% 122.58%

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

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/12/20-21/1959
UIN: 109N127V03
Grievance Redressal Click here

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