Key Benefit:
1-Guaranted life long income Annuity once Purchased is guaranteed for life.
2:-Option to receive annuity payments as long as you or your partner are alive
You have the option to choose a single life or a joint life Annuity.
3:-Retierment Planning made easier:You can opt to invest today to build a guaranteed lifetime income stream for tomorrow . With the deftorred annuity option, you have the choice to plan early for your retirement and lock annuity rates at present for a guaranted life long Payment
Customize your Guaranteed plan in 5 simple steps.
Step 1:-Choose the purchase price /premium that you wish to invest or choose the annuity amount you wish to receive invest or choose the annuity amount you wish to receive 2:-Choose the payment frequency-Yearly , Half yearly , Quarterly ,MonthlY ,if applicable’
3:-Choose annuity option as per your need .
4:-Choose annuity Payout frequency , Yearly ,Half yearly ,Quarterly or Monthly.
5:Provide you details and the secondary annuitant details(if applicable depending on the option chosen.
1:Guaranteed Plan Option 5
Life Annuity with return of purchase Price (100%ROP/75%ROP 50%ROP)
Benefit (Single Life)
Survival Benefit:-0n death of the annuitant,lampsum amount equal to 100or75%or50%of purchase prices chosen at in ception , will be paid to nominee/legal heir.
Benefit (Joint Life)
On death of the annuitant a lumpsum amount equal to 100% or 75% or 50% Purchaseprice as chosen at inception,will be paid to the nominee/legal heir.
Surrender of Guaranteed Plan Policy
The Policy can be Surrendered by the policy holder / masterPolicy holder /member and last surviver (in case of death of primary Annuitant) any time afterthe date of commencement of the policy the surender value payable will be the special surrender value,SSV shall be subject to a maximumo of death benefit applicable at the ṭime of surrender.
Illustration
Plan details
Policy Term —————————Whole Life
PremiumPaying Term————–Single pay
Annuity payout frequency——–Annual
Defered period ———————–1
Purchase Price ———————–First year
Base Purchase Price/Premium–-Rs-500000-
GST—————————————-Rs—9000-
TotalPurchase Price/Premium—-Rs-509000-
Year-wise cash flow
Age- Single Premium/ Annuilised Premium-Survival Benefit-Guaranted Benefit-Death Benefit
63—-500000——————————————0——————–33996—————–550000–
64——o—————————————-33996———————-0=———————-550000-
65——0—————————————-33996———————-0————————550000-
66——0—————————————-33996———————-0————————550000-
67—–02Top—————————————-33996———————-0————————550000-
68—–0—————————————–33996———————-0————————550000-
69—-0——————————————33996———————-0————————550000-
70—-0——————————————33996———————-0————————-550000-
71—0——————————————33996———————–0————————-550000-
72–=0——————————————-33996———————–0————————-550000-
73—0——————————————33996———————–0————————-550000-
74—0——————————————33996———————–0————————-550000-
75—0—————————————–33996———————–0————————-550000-
76—0——————————————33996———————–0————————-550000-
77—0——————————————33996———————–0————————-550000-
78—0—————————————–33996———————–0————————-550000-
79—0——————————————33996———————–0————————-550000-
80—0——————————————-33996———————-0————————-550000-
81—0——————————————-33996———————-0————————-550000-
82—0——————————————-33996———————-0————————-550000-
83—0——————————————-33996———————-0————————-550000-
84—0——————————————-33996———————-0————————-550000-
85—0——————————————-33996———————-0————————-550000-
86—-0——————————————-33996————————-0——————–550000-
87—-0——————————————-33996————————-0——————–550000-
88—-0——————————————-33996————————-0——————–550000-
89—-0——————————————-33996————————-0——————–550000-
90—-0——————————————-33996————————–0——————–550000-
91—-0——————————————-33996————————-0———————550000-
92—-0——————————————-33996—————————0——————-550000-
93—-0——————————————-33996————————–0——————–550000-
94—0——————————————–33996————————-0———————550000-
95–-0——————————————–33996————————-0———————550000-
96–-0 ——————————————-33996————————-0———————550000-
97—0——————————————–33996————————-0——————–550000-
98—0——————————————–33996————————-0——————–550000-
99—0——————————————–33996————————-0——————–550000-
100–-0——————————————33996————————-0———————550000-
101—0——————————————33996————————-0——————–550000-
102—0——————————————33996————————-0——————–550000-
103—0——————————————33996————————0———————550000-
104—0——————————————33996————————0———————550000-
105—0——————————————33996————————0———————550000-
106—0——————————————33996————————0———————550000-
107—0——————————————33996————————0———————550000-
108—0——————————————33996————————0———————550000-
109—0——————————————33996————————0———————550000-
110—0——————————————33996————————0———————550000-
111—-0—————————————–33996————————0———————550000-
112—0—————————————–33996————————0———————550000-
113—-0—————————————-33996————————0———————550000-
114—-0—————————————-33996———————–0———————-550000-
115—-0—————————————-33996———————–0———————-550000-
2: Option – 9 of ABSLI Guaranteed Plus Plan
Guaranteed Annuity Plan Deff ered Life Annuity With Return of Premium.
Under thin Option at inception,Annuity needs to choose the Deferment Period from 1 to 15 years for Single Pay policies and Deferment Period choosen PPT to 15 years for limited Pay Policies .
1-For this option Guaranted Additions accurate the Deferment Period.
2-Guaranted Additions is 1/12 times the annal Annuity .
3-No Guaranted Additions are added to the Policy after the Deferment Period.
4-The Accured Guaranted Additions will be paid only on death of the Annuitant (last surviver in case of Joint Life}.
Guaranteed Annuity Plan Benefit Single Life
Survival Benefit
Annuity is payable after the end of the Deferment Period as long as the Annuity is alive.
Joint Life
Annuity is Payale after the end of deferment Period .as long either of the primary or the secondry Annuity is payable after the of the Deferment Period as long as the Annuity alive.
Single Life
On single Pay-On death of the annuitant either or after the end of deferment period, the below mentioned the death brnefit shall be Payable in a lump sum to the nominee/legal heir.
Higher of-
1-110% of Purchase Price or
2-Purchase price +Accrued Guaranted Addition sum of Annuity amount already paid .Under this option ,in the event of death of the Annuitant during the Deferment Period ,the higher of the below shall be payable to the nominee/legal heir in a lump sum.
1-105% of total premium paid or
2-Total premiumpaid plus Accrued Guaranted Additions less sum of Annuity amount already paid Under this option in the event of death of annuitant after the end of differment period ,the higher of the below shall be payable to the nominee/legal heirin a lump sum.
1-100%of total premium paid or
2-total premium paid plus Accrued Guaranted Additions less sum of Annuitant already paid.
—Joint life
On death of the last surviving Annuitant either during or afterthe end of Deferment Period the below mentioned death benefit shall be payable in a lump sum to the nominee/legal heir
Higherof-110% of purchase price 0r
2-purchase price + Accrued guarantedof acy can be surrendered ddition -sum of Annuity amount already paid.
For Limited Pay:-Under this option in the event of death 0f the last surviving Annuitant ,during the Deferment Period ,the higher of the below shall be payable to the nominee/legal heirin a lump sum.
1-105% 0f the total paid .
2-Total premium paid plus Accrued Guaranted Additions less sum of the Annuity amount already paid.
Under this option, in the event of death of the last surviving Annuitant ,after the end of Deferment Piriod , the higher of the below shall be payable to the nominee/legal heir in a lump sum.
1-100% of total premium paid.
2-Total premium paid plus Accrued additions less sum of annuity amount already paid .
Surrender
The policy can be surrendered only after it has acquired a surrender value for single pay policies , the policy can be surrendered by the policy holder and annuity certificate can be Surrendered by the member any time after the date of the commencement ,i e during the deferment period as well as after Surrendered value is available upon receipt of all premium due in the first two policy years..The Surrender value The surrender value payable will be higher of the Guaranted Surrender value or Special surrendered value.
Guaranteed Surrendered value =GSV Factor(total premiums paid )less total annuity amount if any already paid.
-Non Fore future Benefit.
Paid up benefits single pay not applicable Limited pay-The policy aquires Surrendered value upon payment of full two years premium from the date of inception of the policy.
Where the policy has no aquired surrender value and if the premiums not received till the expiry of the grace period will case immediately .
Once the policy has aquired surrender value and is the due premium is not received till the expiry of the grace period then such policy shall continue on a reduced paid – up basis.
Absli Guaranted Annuity Plus -High lights of the Plans
1-Guaranted Life long Pension
2-Pension to select INCREASING Annuity 3% or 5%.
3- 0ption to choose from .
What you give annual premiumof rs 200000-five equal instalments Total rs 1000000-what you get RS 80075-Annual Annuity
Joint life also get plan .
After 5 years annuity option 9-Defered life annuity with return of premium Payment will Annual + GST first year 9ooo-Remaining time 4500 Illustrasion
Age-Annuilised Premium–Yearwise Survival Benefit -Cash flow –Deathbenefits
63—-200000———————-0—————————80075———-273402–
64—-200000———————-0—————————80075———-553478–
65—-200000———————-0—————————80075———-833553–
66—-200000———————-0—————————80075———-1113629–
67—200000—————-0———————————80075———1393704————
68—–0———————–80075————————–0—————-1400377———-
69—–0———————–80075————————–0—————–1320302————–
70—–0———————–80075————————–0—————–1240226——
71—–0———————–80075————————–0—————–1160151——
72—–0———————–80075————————–0——————1080075——-
73—–0———————–80075————————–0——————1000000——–
74—–0———————–80075————————–0——————1000000=——-
75—–0———————–80075————————–0——————-1000000-
76——0———————-80075————————–0=——————1000000=——
77——0———————-80075————————–0——————–1000000—-
78——0———————-80075————————–0————=——-1000000———
79——0———————-80075————————–0———————1000000—-
80——0———————-80075————————–0———————-1000000—-
81——0———————-80075————————–0———————-1000000—-
82——0———————-80075————————–0———————-1000000—
83——0———————-80075————————–0———————-1000000—————-
84——-0———————80075————————–0———————–1000000———–
85——-0———————80075————————–0———————–1000000—-
86——–0——————–80075————————–0———————–1000000——-
87——–0——————–80075————————–0———————–1000000=—-
88——–0——————–80075————————–0———————–1000000———–
89——–0——————–80075————————–0———————–1000000—–
90——–0——————–80075————————–0———————–1000000———-
91——–0——————–80075————————–0———————–1000000—–
92——–0——————–80075————————–0———————–1000000————-
93——–0——————–80075————————–0———————–1000000———
94——–0——————–80075————————–0———————–1000000——–
95——–0——————–80075————————-0————————1000000———-
96——–0——————–80075————————-0————————1000000—————-
97——–0——————–80075————————-0————————1000000————-
98——–0——————–80075————————-0————————1000000————-
99——–0——————–80075————————-0————————1000000——————-
100——0——————–80075————————-0————————-1000000———–
101——0——————–80075————————-0————————-1000000———
102——0——————–80075————————–0————————-1000000————
103——0——————–80075————————–0————————-1000000————–
104——0——————–80075————————–0————————-1000000———
105——0——————–80075————————–0————————-1000000—–
106——-0——————-80075————————-0————————-1000000——–
107——-0——————-80075————————-0————————-1000000————
108——-0——————-80075————————-0————————-1000000——–
109——-0=—————–80075————————-0————————-1000000————–
110——-0——————-80075————————-0————————-1000000————
111——-0——————-80075————————-0————————-1000000—-
112——-0——————-80075————————-0————————-1000000——-
