Aditya Birla Sun Life Insurance Company Limited

Actuarial Cost Method

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Definition:

The actuarial cost method is used by the actuaries to calculate the amount a company has to pay to cover the pension expenses. The amount is used to cover the pension expenditure. This method is used to calculate how much money is required for pension consultation and pension funding.

Description:

The cost approach calculates total benefits based on the assumptions like current salary/wages of the employee, the number of service years left, and the average life expectancy post-retirement.

This method is used by companies to maintain financial solvency by keeping a track record of responsibilities to shoulder in the future.

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ABSLI Salaried Term Plan

Exclusively For Salaried Individuals

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4 Plan Options

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Life Cover upto 70 years

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Optional Accelerated Critical Illness benefit

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Inbuilt Terminal Illness Benefit

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₹508/month*

1 Male age 60 years, Annuity Option -Life Annuity, Annuity Payout Frequency-Annual, Option chosen of Premium, Purchase Price Rs.10,00,000, Level Annuity, PPT: Single Pay, Single Life. Receive Annuity Rs.87,314 per annum
ABSLI Guaranteed Annuity Plus is a Non-Linked, Non-Participating, General Annuity Plan (UIN: 109N132V07)
3 Provided all due premiums are paid
ADV/4/22-23/120