Plan Benefits
Plan Option Rider Illustration Buy Online Check Eligibility
Why buy ABSLI Assured Income Plus?
Aditya Birla Sun Life Insurance Assured Income Plus gives you life cover and assured income for the long term. Make savings easy and convenient.
Key Features
1 Fully Guaranteed Returns on your investment.
2 Long-term regular income for 20, 25 or 30 years to ensure fulfilment of recurring needs.
3 Options to choose benefits under the policy, Income Only Benefit or Income with Lump Sum Benefit.
4 Loyalty Additions as an additional boost to the Income Benefit pay out.
5 Flexibility to receive a discounted value of future survival benefits as a lump sum based on your needs
6 Option to enhance your cover with appropriate riders.
Benefits of ABSLI Assured Income Plus
Guaranteed 2 regular income for the long term in future.
Survival Benefit ABSLI Assured Income Plus benefits you with
On surviving till the end of policy term, Income Benefit is payable to you for 20, 25 or 30 years at the end of the period (monthly, quarterly, half yearly or annually) as per the Benefit Payout Frequency chosen.
Death Benefit
In the unfortunate event of Death of the Life Insured anytime during the policy term, provided the Policy is in-force, Sum Assured on Death shall be payable as a lump-sum to the nominee.
Tax Benefit
You may be entitled to certain applicable tax benefits on the premiums paid and benefits received under Your Policy. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek an independent tax advice.
Rider Benefit
For added protection, you can enhance your risk coverage during the policy term by adding riders at a nominal extra cost.
Plan Option
choose from two plan options.
Option 1- Income Only Benefit
Under this option, Income Benefit, expressed as a percentage of Annualized Premium, is paid which varies with Your age at entry, premium amount, premium payment term and benefit payout period.
Option 2- Income with Lumpsum Benefit
Under this option, Income Benefit, expressed as a percentage of Annualized Premium, is paid to you, which varies with Your age at entry, premium amount, premium payment term and benefit payout period.
Additionally, under this option, at the end of the Benefit payout period, a Guaranteed Lumpsum Benefit will also be payable.
Enhance ABSLI Assured Income Plus with Riders
Enhance your cover with Riders at nominal additional premium
ABSLI Accidental Death Benefit Rider Plus
This rider provides 100% of Rider Sum Assured as an additional lump sum amount in case of death due to accident of Life Insured. Additionally, the rider premiums collected aſter the date of Accident till date of death, shall be refunded with interest, along with death benefit payable. This rider is only applicable for a Life Insured aged 18 years & above and the rider policy term c
ABSLI Critical Illness Rider
This rider provides lump sum on survival of 30 days from the date of diagnosis of any of the specified critical illne ABSLI Assured Income Plus offers the flexibility to sses. This rider is only applicable for a Life Insured aged 18 years and above and the rider policy term cannot exceed the base policy term.
ABSLI Surgical Care Rider
This rider provides lump sum benefit in case of hospitalization for a minimum period of 24 hours for undergoing medically necessary surgery in India. This rider is only applicable for a Life Insured aged 18 years and above and the rider policy term cannot exceed the bas
ABSLI Hospital Care Rider
This provides daily cash benefit in case of hospitalization for a minimum period of 24 hours for medically necessary treatment of any Illness or Injury payable from the first day for the duration of hospitalization. This rider is only applicable for a Life Insured aged 18 years and above।
ABSLI Waiver of Premium Rider
This rider waives off all future premiums of the base plan and the attached riders throughout the rest of the premium payment in case of diagnosis of Critical Illness, Disability or Death (only if Life Insured is a minor i.e. below 18 years of age and is different from the Policy holder
Product Sepecifications.
Type of Plan:-A nonlinked non participating Individuals Savings Life Insurance Plan
Coverage:-All Individuals(male |female |Transgender)
Age Limit:-Minimum One year (Subject to maximum majurity age 18 years)
Maturity age of the Life Insured ( Age as on Last Birth day)
Maximum:-60 Years Maturity 77Years
Policy Paiying Term:-
5 years- Policy Term – Benefit Payout Period
5|6|7|8|9|10 Years 20|25|30Years
6 Years- 6|7|8|9|10|11Years 20|25|30Years
8 Years-8-910|11|12|13Years 20|25|30Years
10Years-10-11|12|13|14|15Years 20|25|30Years
12Years-12|13|14|15|16|17Years 20|25Years
Minimum annualised Primium:-RS50000/-
Maximum annualised Primium-No limit(Subject to Board Approved Underwriting Policy)
PPM:-Annual|Semi annual|Quarterly|Monthly.
Model Factors:-0|1%|1.5%|3%.
Maximum Sum Assured ;-(Subject to Board Approved Underwriting Policy.
The Policy holder at policy inception can choose from the following 2 options.-
1:-Income Only Benefit.
2:-Income with Lumpsum Benefit.
Benefits payout frequently are available are Annual |Semi annual |Qarterly |monthly.
How does ABSLI Assured Income Plus Work?
Mr. Sharma aged 35 years invested ₹1,00,000 per annum in ABSLI Assured Income Plus for “Income only Benefit” Option.
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- He opted for 8 years of premium payment term with 9 years policy term and 30 years of benefit payout period. Mr. Sharma chose to receive Income Benefit Annually.
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- Mr. Sharma survived the policy period and received Income Benefits throughout the payout period.
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- Total Premium Paid is Rs.8 lakhs. Annual Income will be 52.20%of Annualized Premium, i.e. ₹52,200/-. Loyalty Additions will be 52.25% of Income Benefit, i.e. ₹27,275/-. Income Benefit= Annual Income + Loyalty Additions = ₹79,475/- per annum. For 30
Want Long-term Guaranteed Income Benefits?
Buy ABSLI Assured Income Plus Now.
What’s not Covered?
If the Life Insured dies by suicide within 12 months of the effective date of risk commencement or the date of revival of Policy, the Policy shall terminate immediately.
In such cases, the Company shall pay higher of Surrender Value or (total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes) in case the Policy has acquired a surrender value; or Total Premiums Paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes in case the Policy has not acquired a surrender value.
How to initiate Claim?
3 quick steps, everything online.
Frequently Asked Questions
Know more about Assured Income Plus in detail here:
Can policyholders avail tax benefits under ABSLI Assured Income Plus?
As per extant tax laws, this plan offers tax benefits³ under Section 80C, 80D (for specific rider premium) and Section 10(10D) of the Income Tax Act, 1961, subject to fulfilment of the other conditions of the respective sections prescribed therein. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by policyholder. It is advisable to seek independent tax advice.
