ABSLI Assured Income Plus

ABSLI Assured Income Plus

Short-Term Investment#. Long Term Guaranteed2 Returns.
Guaranteed Returns Guaranteed Returns2
Long term regular income long term regular income

Give ₹1.2 lakhs/year for 12 years and Get Guaranteed2 Benefit of ₹46.55 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 with Lumpsum Benefit.
  • iconbullet Loyalty Additions as an additional boost to the Income Benefit pay out.
  • iconbullet Flexibility to receive a discounted value of future survival benefits as a lumpsum based on your needs
  • iconbullet Option to enhance your cover with appropriate riders.
Brochure Policy Contract Leaflet
Endowment Plan by ABSLI - ABSLI Assured Income Plus

Benefits of ABSLI Assured Income Plus

ABSLI Assured Income Plus gives you the benefit of guaranteed² regular income long into the future.

Death Benefit
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.
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Death Benefit
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.
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Death Benefit
Tax Benefit
You may be entitled to certain applicable tax benefits on the premiums paid and benefits received under Your Policy. 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 you. It is advisable to seek an independent tax advice.
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Death Benefit
Rider Benefit
For added protection, you can enhance your risk coverage during the policy term by adding riders at a nominal extra cost.
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Plan Options

ABSLI Assured Income Plus offers two plan options to choose from

Income Only Benefit
Option 1
Benefits of ABSLI Assured Income Plus
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.
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Income Only Benefit
Option 2
Income with lumpsum/lump sum benefit
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.
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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.
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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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ABSLI Surgical Care Rider
UIN: 109B015V03
This rider provides lump sum benefit in case of hospitalization for a minimum period of 24 hours for undergoing medically necessary surgery in India. 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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ABSLI Hospital Care Rider
UIN: 109B016V03
This provides daily cash benefit in case of hospitalization for a minimum period of 24 hours for medically necessary treatment of any Illness or Injury payable from the first day for the duration of hospitalization. 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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ABSLI Waiver of Premium Rider
ABSLI Waiver of Premium Rider
UIN: 109B017V03
This rider waives off all future premiums of the base plan and the attached riders throughout the rest of the premium payment in case of diagnosis of Critical Illness, Disability or Death (only if Life Insured is a minor i.e. below 18 years of age and is different from the Policyholder).
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VIEW ELIGIBILITY CRITERIA

Product Specifications

Type of Plan

A Non-Linked Non-Participating Individual Savings Life Insurance Plan

Coverage

All Individuals (Male | Female | Transgender)

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.

Maximum

60 years

Maturity Age of the Life Insured (age as on last birthday)

Minimum

18 years

Maximum

77 years

Premium payment term (PPT), Policy term (PT) and Benefit payout period

Premium payment term

Policy term

Benefit payout period^

5 years

5 | 6 | 7 | 8 | 9 | 10 years

20, 25, 30 years

6 years

6 | 7 | 8 | 9 | 10 | 11 years

20, 25, 30 years

8 years

8 | 9 | 10 | 11 | 12 | 13 years

20, 25, 30 years

10 years

10 | 11 | 12 | 13 | 14 | 15 years

20, 25, 30 years

12 years

12 | 13 | 14 | 15 | 16 | 17 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.

Minimum Annualized Premium

Rs. 50,000

Maximum Annualized Premium

No Limit (subject to Board Approved Underwriting Policy)

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 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 with Lumpsum Benefit

The Benefit Option is chosen at inception and cannot be changed thereafter

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.

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 Benefits throughout the payout period.
View Illustration$
  • Mr. Sharma aged 35 years invested Rs.1,00,000 per annum in ABSLI Assured Income Plus for "Income with Lumpsum 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 Guaranteed Lumpsum Benefit at the end of the benefit payout period.
View Illustration$
Assistance to buy an endowment policy

Want Long-term Guaranteed Income Benefits?

Buy ABSLI Assured Income Plus Now.
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What’s not Covered?

If the Life Insured dies by suicide within 12 months of the effective date of risk commencement or the date of revival of Policy, the Policy shall terminate immediately. In such cases, the Company shall pay higher of Surrender Value or (total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes) in case the Policy has acquired a surrender value; or Total Premiums Paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes in case the Policy has not acquired a surrender value.

How to initiate Claim?

3 quick steps, everything online.

  • Fill basic details
  • Claim intimation
  • Document submission
More About Claims

Frequently Asked Questions

Know more about Assured Income Plus in detail here:

Can policyholders avail tax benefits under ABSLI Assured Income Plus?
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.
After how many days of claim should the dependents intimate the claim to insurance companies?
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.
Who can intimate the claims under ABSLI Assured Income Plus?
The surviving nominee/appointee/policy owner or legal heir can intimate the claim under ABSLI Assured Income Plus.
How can we file a claim with ABSLI 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.
Does this policy cover death due to Covid 193
Yes, provided there is no nondisclosure on the COVID Questionnaire. Please ensure that the COVID questionnaire is filled.
What are the significant features of ABSLI Assured Income Plus?
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.
What is the age criteria of ABSLI Assured Income Plus?
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.
What is the maximum maturity age applicable for ABSLI Assured Income Plus?
ABSLI Assured Income Plus has a maximum maturity age of 77 years.
Are there any plan options/benefit options available in ABSLI Assured Income Plus?
Yes, there are 2 Survival Benefit Options available under this plan: Income only Benefit & Income with Lumpsum Benefit .
What is the minimum sum assured under ABSLI Assured Income Plus?
The minimum sum assured under this plan is ₹5,50,000/-
Can the benefit payout frequency be changed during the Policy Term under ABSLI Assured Income Plus?
No, the chosen Benefit Payout Frequency cannot be changed during the policy term.
Will the policyholder be eligible for Loyalty Additions if he/she has not paid the premiums in full under ABSLI Assured Income Plus?
No, Loyalty Addition is applicable only for policies that have paid all the due premiums under the policy.
What happens in case of death of the Life Insured by suicide under ABSLI Assured Income Plus?
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.
    $ 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.
    1 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.46.55 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.
    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: 109N127V13
    ADV/1/23-24/3378