Aditya Birla Sun Life Insurance Company Limited

Deferred Annuity

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Definition:

A deferred annuity is a life insurance policy type that generates income for life after retirement.

Description:

Insurance companies provide the buyers either regular or lump sum payment at some date in the future. The policyholders purchase the deferred annuity to support their life and income after retirement. The annuity plan provides financial security to the life insured.

Deferred annuities come in several different types like indexed, fixed, and variable annuities which determine the rate of return.

Indexed deferred annuity: It is the annuity plan that provides returns based on the market performance of a particular market index.

Variable deferred annuity: The return under this annuity type is based on the performance of mutual funds or accounts chosen by the policyholder.

Fixed annuity: As the name suggests, it is the policy that gives a guaranteed rate of return on the money invested in the account.

The period under which the annuity owner pays the premium is the accumulation phase.

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ABSLI Salaried Term Plan

Exclusively For Salaried Individuals

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4 Plan Options

Icon-Whole life cover

Life Cover upto 70 years

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Optional Accelerated Critical Illness benefit

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Inbuilt Terminal Illness Benefit

Life Cover
₹1 crore

Premium:
₹508/month*

Recently Added Article

ABSLI Salaried Term Plan (UIN:109N141V02) is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 2 (Life Cover with ROP) this product shall be a non-linked non-participating individual savings life insurance plan.
*LI Age 21, Male, Non Smoker, Option 1: Life Cover, PPT: Regular Pay, SA: ₹ 1 Cr., PT: 10 years, Annual Premium: ₹ 6100/- ( which is ₹ 508.33/month) Premium exclusive of GST. On death, 1 Cr SA is paid and the policy terminates.
ADV/5/22-23/289