Protecting your life goals now comes with an assurance.
The ABSLI Income Assured Plan helps you meet your financial needs at various stages of life by providing guaranteed returns, regardless of life’s uncertainties.
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ABSLI Income Assured Plan (Savings Plan)
Features of Income Assured Plan:
- Monthly Payouts: Receive assured monthly payouts starting after the premium paying term.
- Guaranteed Additions: Additions guaranteed till maturity.
- Short Premium Paying Term: Choose from 5, 7, or 10 years.
- Tax Benefits: Enjoy tax benefits under applicable laws.
Benefits
Assured Income Benefit:
If the life insured survives the premium paying term, they will receive monthly assured income at a rate of 8.0% of the Sum Assured per annum until the end of the policy term. You can choose to receive this income in one of two ways:
- Option A: Monthly payments until the end of the policy term.
- Option B: Accumulate the assured income to receive it as a lump sum at the end of the policy term or upon death. If this option is chosen, the accumulated assured income will be increased by the following percentages based on the policy term:
- Policy Term 15, 17, 20 Years: 137.5%
- Policy Term 22, 25 Years: 175%
Guaranteed Additions:
Guaranteed additions will be added to your policy at the beginning of each quarter after the completion of the premium payment term, until the policy matures. The quarterly addition rate is one-fourth of the annual rate, provided all due premiums are paid.
Death Benefit:
In the unfortunate event of the life insured’s death during the policy term, the death benefit payable will include:
- The Sum Assured
- Guaranteed Additions accrued up to the date of death
- Increased accrued assured income (if opted for)
Maturity Benefit:
If the life insured survives to the end of the policy term, the maturity benefit will include:
- The Sum Assured
- Guaranteed Additions accrued up to the maturity date
- Increased accrued assured income (if opted for)
Customizable Benefits:
Enhance your protection with the following riders for a nominal additional cost:
- ABSLI Accidental Death and Disability Rider (UIN: 109B018V03): Extra protection in case of accident leading to death or disability.
- ABSLI Critical Illness Rider (UIN: 109B019V03): Lump sum benefit upon diagnosis of any of the 4 specified critical illnesses.
- ABSLI Surgical Care Rider (UIN: 109B015V03): Lump sum benefit to cover surgical expenses.
- ABSLI Hospital Care Rider (UIN: 109B016V03): Daily cash benefit, additional ICU benefit, and lump sum recuperation benefit upon hospitalization.
- ABSLI Waiver of Premium Rider (UIN: 109B017V03): Waives all future premiums in case of permanent disability, death, or any of 4 specified major illnesses.
- ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02): Additional protection in case of accidental death.
Note: You can opt for either the ABSLI Accidental Death and Disability Rider or the ABSLI Accidental Death Benefit Rider Plus, but not both.