ABSLI Assured Income Plus

ABSLI Assured Income Plus

Short-Term Investment*. Long Term Guaranteed Returns.
Short-Term Investment*. Long Term Guaranteed Returns.
Guaranteed Returns Guaranteed Returns2
Long term regular income Long term regular income

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Give ₹10000/month for 12 years and Get Guaranteed Benefit of ₹47.16 lakhs1

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Why buy ABSLI Assured Income Plus?

Aditya Birla Sun Life Insurance Assured Income Plus gives you life cover and assured income for the long term. Make savings easy and convenient.

Key Features

  • iconbullet Fully Guaranteed2 Returns on your investment.
  • iconbullet Long-term regular income for 20, 25 or 30 years to ensure fulfilment of recurring needs.
  • iconbullet 2 Options to choose benefits under the policy, Income only Benefit or Income Benefit with Return of Premium (RoP).
  • iconbullet Loyalty Additions as an additional boost to your Income Benefit and Return of Premium (RoP) benefit pay out.
  • iconbullet Choice to receive lump sum instead of income benefit as survival benefit at the end of policy term.
  • iconbullet Option to enhance your cover with appropriate riders.
Endowment Plan by ABSLI - ABSLI Assured Income Plus

Benefits of ABSLI Assured Income Plus

ABSLI Assured Income Plus benefits you with guaranteed regular income for the long term in future.

Death Benefit
Survival Benefit
This product provides you with an income benefit, defined as a fixed percentage of annualized premium as per the frequency of pay-out chosen by you.. The amount of benefit depends on your entry age, premium amount, premium payment term, and benefit pay out period. Under Return of Premium Option, the total premiums paid by you will also be returned at the end of the Benefit Pay out Period
Death Benefit
Maturity Benefit
At the end of the policy term, you get a maturity benefit in the form of a lump sum or income benefit(RoP, if any). The lump sum benefit is calculated using factors determined by a discount rate of 8.70%.
Death Benefit
Death Benefit
The nominee gets the death benefit if the life insured passes away during the policy term. Sum assured on death is defined as higher of

a) 10 times of Annualised Premium
b) 150% of Total Premiums paid till the date of death
c) Sum Assured

Option to receive the amount of death benefit in Annual/Monthly Instalments.
Death Benefit
Tax Benefit
The policy provides tax benefit³ to the policyholder on all the premiums paid and additional benefits. The tax benefits are subject to changes in tax laws. Consult your financial advisor for the same.

Plan Options

ABSLI Assured Income Plus offers the flexibility to choose from two plan options.

Enhance ABSLI Assured Income Plus with Riders

Enhance your cover with Riders at nominal additional premium

Type of Plan

Non-linked non participating individual life insurance savings plan.

Coverage

All Individuals


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%


 

Premium and Sum Assured Limits

Minimum Annualized Premium

Rs.50,000

Maximum Annualized Premium

No limit (subject to board approval)

Minimum Sum Assured

Rs.5,50,000


Particulars

Minimum

Maximum

Age of the Life Insured at the Entry

  • 11^ years for the policy term 7 years
  • 9^ years for the policy term 9 years
  • 5^ years for the policy term 13 years

60 years

Maturity Age of the Life Insured

18 years

73 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.

Benefit Payout Frequency

Annual| Semi-Annual | Quarterly |Monthly|

How does ABSLI Assured Income Plus Work?

Learn with an example. Lead by an example.

How endowment plan works
  • 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 Benefit throughout the payout period.
  • Total Premium Paid is Rs.8 lakhs. Annual Income will be 56.25% of Annualized Premium, i.e. ₹56,250/-. Loyalty Additions will be 30.50% of Income Benefit, i.e. ₹17,156/-. Income Benefit= Annual Income + Loyalty Additions = ₹73,406/- per annum.
  • Total Guaranteed Income Benefit payable will be ₹22,02,180/-
  • Mr. Sharma aged 35 years invested Rs.1,00,000 per annum in ABSLI Assured Income Plus for Income with Return of Premium 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. Total premium paid in 8 years is Rs.8 lakhs.
  • Mr. Sharma survived the policy term and received Income Benefit throughout the Benefit payout period along with RoP at the end of the Benefit Payout Period. Annual Income is 47.50% of Annualized Premium paid which is equal to ₹47,500/-.
  • Loyalty additions in the benefit is 30.50% of Annualized Income which makes it ₹14,488/-. Income Benefit will be paid per annum for 30 years. Under the Return of Premium option, the amount will be Return of Total Premium Paid + Loyalty Additions of 30.50% on RoP = ₹10.44,000/-
  • Total Benefit Payout will be = ₹29,04,040/-.
Assistance to buy an endowment policy

Satisfied with Guaranteed Income Benefits?

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What’s not Covered?

In case of death due to suicide within 12 months from the date of commencement of the risk or from the date of revival of the policy, as applicable, the nominee(s)/ Legal heir(s) or the beneficiary of the Policyholder shall be entitled to receive the total premiums paid till date of death or surrender value available on the date of death, whichever is higher, provided the policy is in-force.

How to initiate Claim?

3 quick steps, everything online.

  • Fill
    basic details
  • Claim
    intimation
  • Document submission

Frequently Asked Questions

Know more about Assured Income Plus in detail here:

Anyone who is married, young, at the beginning of the career, or has children should immediately buy ABSLI Assured Income Plus. The plan allows you to invest for a short term and get long term guaranteed returns.
The premium inclusive of GST payable will be = Rs.10,450/-.
The sum assured in this case will be = ₹13.91 lakhs.
The premium amount you pay in 12 years = ₹1,20,000 (annual) x 12 = ₹14.40 lakhs.
Total amount you get by age 73 = ₹47.16 lakhs
As per extant tax laws, this plan offers tax benefits³ 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 Returns: Full guaranteed benefits offering complete financial security
  • Long-Term Income: Regular Income paid for 20, 25 or 30 years to ensure fulfilment of your recurring needs in the long term
  • Two Benefit Options: Flexibility to choose from Two Benefit Options: Income only Benefit or Income Benefit with Return of Premium (RoP)
  • Loyalty Additions: Loyalty Additions added as an additional boost to your Income Benefits each year and Return of Premium, if any.
  • Customizable Benefits: Option to enhance your insurance with appropriate rider options by paying an additional premium
Anyone meeting the following criteria is eligible for ABSLI Assured Income Plus:

Age at entry is dependent on Premium Paying Term chosen and is defined as follows:
  • 11 years to 60 years for Premium Payment Term of 6 years
  • 9 years to 60 years for Premium Payment Term of 7 years
  • 5 years to 60 years for Premium Payment Term of 12 years
ABSLI Assured Income Plus has a maximum maturity age of 73 years.
Yes, there are 2 Benefit Options available under this plan: Income only Benefit & Income Benefit with Return of Premium (RoP) [where the Total Premiums paid is returned at the end of the Benefit Payout Period].
The minimum sum assured under this plan is ₹5,50,000/-
Yes, the chosen Benefit Payout Frequency can 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.
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  • Disclaimer

    * Life insurance coverage is available on this product.

    1 Scenario: Healthy male age 21 years, premium paying term 12 years, policy term 13 years, benefit payout period 20 years, payment frequency monthly, Assured Benefit Option: Income Only Benefit with Return of Premium, Sum Assured Rs.16.12 lakhs, Premium Rs.9999/- excluding GST), you get Rs.47.16 lakhs by age 54

    2 Provided all due premiums are paid.

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

    4 Our life insurance policies cover COVID -19 claims under life insurance claims, subject to applicable terms & conditions of policy contract and extant regulatory framework.

    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. 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 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: 109N127V05 ADV/3/21-22/2414