ABSLI Group Income Replacement Plan is designed to secure the financial well-being of group members by providing a steady income in the event of critical illness or total permanent disability. This plan ensures that essential needs are met and income is replaced during times of distress.
Key Features:
- Income Benefit: Provides a monthly income benefit if a member is diagnosed with a covered critical illness or experiences total and permanent disability.
- Flexible Coverage: Allows total flexibility in setting the sum assured.
- Multiple Income Options: Offers various options for receiving income benefits.
- Flexible Premium Payments: Premiums can be paid annually, semi-annually, quarterly, or monthly.
- Adjustment of Sum Assured: Master policyholder can adjust the sum assured amount for members during the policy year.
Benefits:
- Income Replacement: Ensures that members receive a regular income to cover essential expenses if they are unable to work due to critical illness or permanent disability.
- Member Addition: New members can be added to the policy either by paying a pro-rata premium for the remaining policy year or by paying the full premium for one year of cover.
- Premium Payment Options: Offers flexibility in payment schedules to fit different budgeting needs.
- Adjustable Coverage: Allows for adjustments in coverage levels based on the group’s needs.
Eligibility:
- Income Benefit: Available if the member is diagnosed with a covered critical illness or experiences total and permanent disability.
- Member Addition: New members can be added by adhering to the scheme rules and premium payment options.
- Premium Payment: Can be paid annually, semi-annually, quarterly, or monthly.
- Coverage Adjustment: Sum assured can be increased or decreased based on the policyholder’s requirements.
Download: Plan Brochure
For more details or to customize your group income replacement plan, please refer to the brochure or contact us directly.