Protecting your life goals is now more flexible.
The ABSLI Monthly Income Plan offers assured monthly income to meet your recurring needs and provides bonuses at maturity, ensuring that your financial goals are protected.
Download Brochure
ABSLI Monthly Income Plan (Savings Plan)
Features of Monthly Income Plan:
- Financial Protection for the Family: Provides financial security for your loved ones.
- Monthly Income Benefit: Regular monthly income to cover your recurring expenses.
- Inbuilt Accidental Death Benefit: Additional coverage in case of accidental death.
- Bonuses to Augment Your Savings: Bonuses that enhance your savings over time.
What to Consider While Buying This Plan:
- Choose Your Sum Assured and Policy Term: Select the amount and duration that best suits your needs.
- Choose Your Income Benefit Option: Decide how you want your monthly income to be structured.
- Enhance Your Protection through Riders: Add optional riders for additional coverage at a nominal cost.
Benefits
Income Benefit:
After completing the Deferment Period, you will start receiving monthly income benefits as a percentage of the Sum Assured over the Income Benefit Period based on your chosen option.
Death Benefit:
In the event of the life insured’s unfortunate demise during the policy term, a death benefit will be paid to your nominee. For detailed information on this benefit, please refer to the product brochure.
Accidental Death Benefit:
If the life insured passes away due to an accident, an additional benefit equal to the Sum Assured chosen will be paid immediately in a lump sum to the nominee.
Maturity Benefit:
If the life insured survives until the end of the policy term, the maturity benefit includes:
- Accrued Bonuses: Bonuses accumulated till the maturity date.
- Terminal Bonus (if any): Additional bonus payable at maturity.
The policy will be terminated once the maturity benefit is paid.
Note: Some benefits are guaranteed, while others are variable and depend on the future performance of the participating business and economic conditions.
Customizable Benefits
For enhanced protection, you can add the following riders for a nominal extra cost:
- ABSLI Waiver of Premium Rider (UIN: 109B017V03): Waives all future premiums in case of permanent disability due to illness or accident, specified critical illnesses, or death.
- ABSLI Critical Illness Rider (UIN: 109B019V03): Provides a lump sum benefit upon diagnosis of any of the 4 specified critical illnesses.
For more details on the above benefits, please refer to the product brochure.