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Aditya Birla Sun Life Insurance Company Limited
Aditya Birla Sun Life Insurance Company Limited
ABSLI Assured Income Plus
Short-Term Investment#. Long Term Guaranteed2 Returns.
Guaranteed Returns2
long term regular income
Give ₹1.2 lakhs/year for 12 years and Get Guaranteed2
Benefit of ₹44.64 lakhs1
Why Buy ABSLI Assured Income Plus?
Key Features
Fully Guaranteed2 Returns on your investment.
Long-term regular income for 20, 25 or 30 years to ensure fulfilment of recurring needs.
2 Options to choose benefits under the policy, Income Only Benefit or Income with Lumpsum Benefit.
Loyalty Additions as an additional boost to the Income Benefit pay out.
Flexibility to receive a discounted value of future survival benefits as a lumpsum based on your needs
Option to enhance your cover with appropriate riders.
Benefits Of ABSLI Assured Income Plus
ABSLI Assured Income Plus gives you the benefit of guaranteed² regular income long into the future.
Survival Benefit
On surviving till the end of policy term, Income Benefit is payable to you for 20, 25 or 30 years at the end of the period (monthly, quarterly, half yearly or annually) as per the Benefit Payout Frequency chosen. The Survival Benefit applicable for both the Benefit Options – Income Only Option and Income with Lumpsum Benefit Option.
Death Benefit
In the unfortunate event of Death of the Life Insured anytime during the policy term, provided the Policy is in-force, Sum Assured on Death shall be payable as a lump-sum to the nominee.
Plan Options
ABSLI Assured Income Plus offers two plan options to choose from
Benefits of ABSLI Assured Income Plus
Option 1
In this option, income benefit stated as a percentage of the annual premium is paid, which varies depending on your age at the time of taking the insurance policy, premium amount, premium payment term and benefit payout period.
Income with lumpsum/lump sum benefit
Option 2
Under this option, you are paid income benefit as a percentage of the annual premium, which varies depending on your age at the time of taking the insurance policy, premium amount, premium payment term and benefit payout period.
Enhance ABSLI Assured Income Plus with Riders
Enhance your cover with Riders at nominal additional premium
ABSLI Accidental Death Benefit Rider Plus
(UIN: 109B023V02)
This rider provides 100% of Rider Sum Assured as an additional lump sum amount in case of death due to accident of Life Insured. Additionally, the rider premiums collected aſter the date of Accident till date of death, shall be refunded with interest, along with death benefit payable. This rider is only applicable for a Life Insured aged 18 years & above and the rider policy term cannot exceed the base policy term.
Download Brochure
ABSLI Critical Illness Rider
(UIN: 109B019V03)
This rider provides lump sum on survival of 30 days from the date of diagnosis of any of the specified critical illnesses. This rider is only applicable for a Life Insured aged 18 years and above and the rider policy term cannot exceed the base policy term.
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Product Specifications | ||||||||||||||||||||
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Type of Plan |
A Non-Linked Non-Participating Individual Savings Life Insurance Plan | |||||||||||||||||||
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Coverage |
All Individuals (Male | Female | Transgender) | |||||||||||||||||||
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Age of the Life Insured at Entry (age as on last birthday) |
Minimum |
1* year (subject to minimum maturity age of 18 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 | |||||||||||||||||||
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Maturity Age of the Life Insured (age as on last birthday) |
Minimum |
18 years | ||||||||||||||||||
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Maximum |
77 years | |||||||||||||||||||
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Premium payment term (PPT), Policy term (PT) and Benefit payout period |
^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. | |||||||||||||||||||
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Minimum Annualized Premium |
Rs. 50,000 | |||||||||||||||||||
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Maximum Annualized Premium |
No Limit (subject to Board Approved Underwriting Policy) | |||||||||||||||||||
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Premium Payment Modes and Modal Factors |
Annual | Semi-Annual | Quarterly | Monthly
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Minimum Sum Assured |
Rs. 5,50,000 | |||||||||||||||||||
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Maximum Sum Assured |
Subject to Board Approved Underwriting Policy | |||||||||||||||||||
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Benefit Options |
The Policyholder at Policy inception can choose from the following two options:
The Benefit Option is chosen at inception and cannot be changed thereafter | |||||||||||||||||||
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Benefit Payout Frequency |
The Benefit Payout Frequencies available are Annual, Semi-Annual, Quarterly, Monthly | |||||||||||||||||||
How Does ABSLI Assured Income Plus Work?
Learn with an example. Lead by an example.
Use Case 1
Use Case 2
Mr. Sharma aged 35 years invested ₹1,00,000 per annum in ABSLI Assured Income Plus for "Income only Benefit" Option.
He opted for 8 years of premium payment term with 9 years policy term and 30 years of benefit payout period. Mr. Sharma chose to receive Income Benefit Annually.
Mr. Sharma survived the policy period and received Income Benefits throughout the payout period.
Want Long-term Guaranteed Income Benefits?
Buy ABSLI Assured Income Plus Now.
How To Claim Online?
3 quick, everything online
1
Fill basic details
2
Claim intimation
3
Document submission
Frequently Asked Questions
Know more about Assured Income Plus in detail here:
As per extant tax laws, this plan offers tax benefits under Section 80C, 80D (for specific rider premium) and Section 10(10D) of the Income Tax Act, 1961, subject to fulfilment of the other conditions of the respective sections prescribed therein. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by policyholder. It is advisable to seek independent tax advice.
All the claims under the ABSLI Assured Income Plus must be intimated as soon as possible. Followed with the claim intimation, the necessary documents should be submitted enabling the insurance company to process the claim. The claim intimation should contain details like date, place and cause of death.
The surviving nominee/appointee/policy owner or legal heir can intimate the claim under ABSLI Assured Income Plus.
You can intimate the claim under ABSLI Assured Income Plus by:
- Visiting any nearest branch
- Visiting our website and intimate the claim by clicking the link here.
- Sending an intimation email (claims.lifeinsurance@adityabirlacapital.com) or letter with all the relevant documents to the company.
Yes, provided there is no nondisclosure on the COVID Questionnaire. Please ensure that the COVID questionnaire is filled.
Key features of ABSLI Assured Income Plus are:
- Guaranteed Lumpsum Benefit: Guaranteed² Lumpsum Benefit, if applicable, shall be payable at the end of the benefit payout period, to boost your savings.
- Long-Term Income: Get guaranteed regular income for a period of 20, 25 or 30 years to ensure fulfilment of your recurring needs in the long term.
- Twin Benefit Options: Flexibility to choose between two benefit options i.e. a) Income only Benefit or b) Income with Lumpsum Benefit– in line with Your financial needs.
- Loyalty Additions: Loyalty Additions as an additional boost to the Income Benefit pay-out.
- Customizable Benefits: Option to enhance Your insurance cover with appropriate riders at a nominal extra cost.
Anyone meeting the following criteria is eligible for ABSLI Assured Income Plus:
|
Age of the Life Insured at Entry (age as on last birthday) |
Minimum |
1* year (subject to minimum maturity age of 18 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. |
ABSLI Assured Income Plus has a maximum maturity age of 77 years.
Yes, there are 2 Survival Benefit Options available under this plan: Income only Benefit & Income with Lumpsum Benefit .
The minimum sum assured under this plan is ₹5,50,000/-
No, the chosen Benefit Payout Frequency cannot be changed during the policy term.
No, Loyalty Addition is applicable only for policies that have paid all the due premiums under the policy.
In case the Life Insured, minor or major, dies due to suicide within 12 months from the Risk Commencement Date or date of revival of the policy, the policy shall immediately terminate, and Company shall pay the following to the Nominee:
- Where the Policy has acquired the Surrender Value, higher of Surrender Value or (Total Premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes) till date of death.
- Where the Policy hasn’t acquired the surrender value, Total Premiums paid plus underwriting extra premiums plus loadings for modal premiums paid excluding applicable taxes) till date of death.
Other Insurance Plans
ABSLI Fixed Maturity Plan
ABSLI Fixed Maturity Plan is a life insurance savings plan which gives you a financial guarantee to fulfil your dreams while providing you with a life cover which safeguards your family in case of an eventuality.
Guaranteed Returns
Loan against policy for emergency situation
Flexibility of Investment Amount and Policy Term
ABSLI Assured Savings Plan
ABSLI Assured Savings Plan provides life insurance cover and savings benefits.to safeguard your family members from financial crisis in case of an unfortunate event, while helping you accumulate lump sum benefits to achieve all your dreams.
Loyalty Additions to boost maturity corpus
Comprehensive life insurance cover
Option to cover your spouse by choosing Joint Life Protection
# Life insurance coverage is available on this product.
1Scenario: Healthy male age 21 years, premium paying term 12 years, policy term 13 years, benefit payout period 20 years, payment frequency annually, Assured Benefit Option: Income with Lumpsum Benefit, Sum Assured Rs.16.68 lakhs, Premium Rs.1.2 lakhs/ year- excluding GST), you get Rs.44.64 lakhs by age 54
2 Provided all due premiums are paid.
3 Our life insurance policies cover COVID -19 claims under life insurance claims, subject to applicable terms & conditions of policy contract and extant regulatory framework.
$ The values shown are for illustrative purpose only. Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy offers guaranteed benefits then these will be clearly marked “guaranteed” in the illustration table on this page. If your policy offers variable benefits then the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance.
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a Non-Linked Non-Participating Individual Savings Life Insurance 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 after 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 and clarification call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true.
UIN: 109N127V16