Protecting Your Life Goals Now Comes with Assurance
The ABSLI Income Assured Plan is designed to help you meet the increasing demands of life at different stages by providing guaranteed returns, regardless of life’s uncertainties.
ABSLI Income Assured Plan (Savings Plan)
Key Features
- Monthly Payouts: Receive monthly payouts starting after the premium-paying term.
- Guaranteed Additions: Enjoy guaranteed additions until maturity.
- Flexible Premium Payment: Short premium-paying terms of 5, 7, or 10 years.
- Tax Benefits²: Avail tax benefits as per applicable laws.
Benefits and Eligibility
Assured Income Benefit
- If the life insured survives until the end of the premium-paying term, the policyholder will receive Assured Income every month until the end of the policy term at a rate of 8.0% of the Sum Assured per annum. There are two options available at inception:
- Option A: Receive Assured Income on a monthly basis until the end of the policy term.
- Option B: Accrue the Assured Income to receive it as a lump sum at the end of the policy term or upon death. The accrued Assured Income, payable on death or maturity, will be increased to the following percentages:
- Policy Term of 15, 17, or 20 years: 137.5% of Accrued Assured Income.
- Policy Term of 22 or 25 years: 175% of Accrued Assured Income.
Guaranteed Additions¹
- Guaranteed Additions will be added to your policy at the beginning of each quarter after the completion of the premium payment term, continuing until the policy’s maturity date. The quarterly Guaranteed Addition rate will be 1/4th of the per annum rate.
¹Provided all due premiums are paid. Please refer to the product brochure for more details on this benefit.
Death Benefit
- In the unfortunate event of the life insured’s death during the policy term, the death benefit payable to the nominee will include the Sum Assured plus the guaranteed additions accrued to date. Additionally, if opted for, the increased accrued Assured Income will also be paid.
Maturity Benefit
- If the life insured survives until the end of the policy term, the policyholder will receive the Sum Assured plus Guaranteed Additions accrued to date. Additionally, the increased accrued Assured Income will also be paid if opted for.
Customizable Benefits
For enhanced protection, the ABSLI Income Assured Plan can be augmented with the following riders for a nominal extra cost:
- ABSLI Accidental Death and Disability Rider (UIN: 109B018V03)
- ABSLI Critical Illness Rider (UIN: 109B019V03)
- ABSLI Surgical Care Rider (UIN: 109B015V03)
- ABSLI Hospital Care Rider (UIN: 109B016V03)
- ABSLI Waiver of Premium Rider (UIN: 109B017V03)
- ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)
Note: You can choose either the ABSLI Accidental Death and Disability Rider or the ABSLI Accidental Death Benefit Rider Plus, but not both.
Riders Overview
- ABSLI Accidental Death and Disability Rider (UIN: 109B018V03): Provides additional protection in the event of death or disability caused by an accident, available at a nominal cost.
- ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02): Offers extra coverage for death due to an accident at a nominal cost.
- ABSLI Critical Illness Rider (UIN: 109B019V03): Receive a lump sum benefit upon the diagnosis of any of the four specified critical illnesses.
- ABSLI Surgical Care Rider (UIN: 109B015V03): Get a lump sum benefit to cover surgical expenses.
- ABSLI Hospital Care Rider (UIN: 109B016V03): Receive daily cash benefits, additional ICU benefits, and a lump sum recuperation benefit upon hospitalization.
- ABSLI Waiver of Premium Rider (UIN: 109B017V03): All future premiums are waived in case of permanent disability, death, or upon the diagnosis of one of four specified major illnesses.