ABSLI Income Assured Plan

As per extant tax laws, this plan offers tax benefits² under Section 80C and Section 10(10D) of the Income Tax Act, 1961, subject to fulfillment of the other conditions of the respective sections prescribed therein.

²Tax benefits are subject to changes in tax laws. You are advised to consult your tax advisor for the same.

Age, lifestyle habits, choice of profession, and existing health conditions are the factors on which your assured income plan premium depends.

Age: When you are young and healthy, you need to pay less towards your insurance plan. Health insurance premiums increase with age as the body becomes vulnerable to various diseases. Pre-existing medical conditions: You might need to pay a higher premium because when you are suffering from any pre-existing medical condition, the insurer covers a greater risk on your behalf and hence, the charges are higher. Choice of profession: If you are involved in a high-risk job or are exposed to an environment where chances of injuries are pretty high, then you need to pay a higher premium towards your policy. Tobacco use: If you regularly consume tobacco in any form, your insurance premium shoots up by several notches. Location: If you reside in a location where climatic conditions are harsh with a cultural dislike to exercise, then your insurer may charge you more. Also, if your area of residence is in an accident-prone zone, you may end up paying higher premiums. You are advised to consult your ABSLI Advisor for the premium.

In the unfortunate event of death of the life insured during the policy term, the death benefit payable to the nominee shall be sum assured plus guaranteed¹ additions accrued till date. In addition, we will also pay the increased accrued Assured Income, if opted for. ¹Provided all due premiums are paid

Guaranteed additions are calculated at a rate per every thousand of sum assured or your premium. They are added to the basic sum assured and are payable on admittance of claim. This benefit is allowed only for each year for which premiums are paid.