ABSLI Immediate Annuity Plan

PROTECTING your second innings from all the worries of life starts now!

Aditya Birla Sun Life Insurance Immediate Annuity Plan is a single premium plan which keeps your savings aside and gives you a regular income in your retirement years, so you can enjoy a happy and relaxed second innings.

Key Features

  • Guaranteed1 regular income for retired life
  • Choice of multiple pay-out options
  • No medical tests
  • Tax benefits under Section 80CCC2

Plan Options

  • Option 1

    Annuity payable for life at uniform rate. Upon the unfortunate death of the annuitant, the annuity payouts will cease.

  • Option 2

    Annuity payable for life with return of purchase price on death of annuitant

  • Option 3

    Annuity payable for the chosen term of 5/10/15/20 years is guaranteed and after that, as long as annuitant is alive. In case of death of annuitant during chosen term, nominee will continue to receive the annuity for balance term.

  • Option 4

    Annuity payable for life at a simple increasing rate of 3% per annum. Upon the unfortunate death of the annuitant, the annuity payouts will cease.

  • Option 5

    Joint Life Last Survivor where the annuity is first paid to the primary annuitant. After the death of the primary annuitant, the second annuitant (spouse) continues to receive the annuity. Upon the unfortunate death of the secondary annuitant, the annuity payouts will cease.

  • Option 6

    Joint Life Last Survivor with return of purchase price. Here the annuity is first paid to the primary annuitant. After the death of the primary annuitant, the second annuitant (spouse) continues to receive the annuity. Upon the unfortunate death of the secondary annuitant, the purchase price is returned to the beneficiary/nominee.

  • Income

    Guaranteed income1 for the life of the annuitant is based on the annuity rate purchased and shall be applicable and guaranteed through the life of the annuitant 

    1Provided all due premiums are paid

  • Payout frequency options

    Plan to have monthly, quarterly, semi-annual or annual pay-outs as per your need

  • Medical test

    None required to get the policy

  • Tax benefit

    Tax benefits under Section 80CCC2

    2Tax benefits are subject to changes in tax laws. Please consult your tax advisor for more details.

  • Entry Age (age last birthday)

    30 to 90 years

  • Frequency of income

    Monthly, quarterly, semi-annual or annual

  • Purchase price

    Min. Regular Income of Rs. 1,000, Rs. 3,000, Rs. 6,000 or Rs. 12,000 for monthly, quarterly, semi-annual and annual mode of annuity payment

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Frequently Asked Questions

  • What is so special about this plan?

    ABSLI Immediate Annuity Plan keeps your savings aside and gives you a regular income in your retirement years, so you can enjoy a happy and relaxed second innings. The special features are:

    • Guaranteed regular income for retired life
    • Choose between multiple payout options
    • No medical tests

    1Provided all due premiums are paid

  • Till what age will I keep receiving a regular income?

    It is a regular income plan and you will get income for all your retired life.

  • Why should I buy this policy?

    This immediate annuity plan has the following benefits thus, telling you why you need this plan:

    • Guaranteed1 income for your entire retired life
    • Flexibility to choose from 6 different payout options to receive your annuity
    • Plan to have monthly, quarterly, semi-annual or annual payouts as per your need
    • No medical test required to get the policy
    • Tax benefits under Section 80CCC2

    1Provided all due premiums are paid

    2Tax benefits are subject to changes in tax laws. Please consult your tax advisor for more details.

  • How do I purchase this plan offline?

    You can call any ABSLI Advisor to buy this plan offline or reach out to your nearest ABSLI branch/office.

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1Provided all due premiums are paid

2Tax benefits are subject to changes in tax laws. Please consult your tax advisor for more details.

Disclaimer

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI).This is a non- participating non linked traditional annuity plan. Annuity payouts are taxable as per extant tax laws. The annuity rates are revised from time to time, applicable annuity amount can be seen at our website. GST and Education Cess and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. For more details on risk factors, terms & conditions, please read sales brochure carefully before concluding the sale.

Aditya Birla Sun Life Insurance Company Limited Regd. Office: Birla Sun Life Insurance Company Limited, One World Center, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. . Call Centre: 1-800-270-7000 www.adityabirlasunlifeinsurance.comIRDAI reg no.109 CIN: U99999MH2000PLC128110 VER1/APR/2018 UIN: 109N083V03

ADV/9/20-21/1043

Need help with life insurance?

+91
I agree to the Terms of Usage and Privacy Policy and authorize Aditya Birla Sun Life Insurance Company Limited and its associates to call/SMS/Email/WhatsApp me.

Thank you for your details. We will reach out to you shortly.

1800-270-7000 or reach out to us on this number.

Thank you for your details. Currently we are facing issue in our system.

1800-270-7000 or reach out to us on this number.