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Aditya Birla Capital LimitedAditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 61,600 employees, the businesses of ABCL have a nationwide reach with over 1,690 branches and more than 200,000 agents/channel partners along with several bank partners.
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Experience ConseQuest- A game where your decisions drive your future.
ABSLI Guaranteed Annuity Plus
- Guaranteed* lifelong income
- Annuity top-up
- Flexible payout options
How does ABSLI Guaranteed Annuity Plus work?
A banker in Delhi who lives with his wife and son
Mr Patil chose the ABSLI Guaranteed Annuity Plus Option 4, which pays a pension to his wife even after his death.
He paid a single purchase price of ₹6,71,756 and received an annual pension of ₹50,831 for the rest of his life.
After Mr Patil’s death, Mrs Patil (declared as a secondary annuitant) continues to receive 50% of the pension for the rest of her life.
With the money coming in regularly, Mrs Patil could live a more secure life.
She is a teacher and lives with her husband Ramesh and their daughter Kavya.
Mrs Kanaka purchased the ABSLI Guaranteed Annuity Plus plan with Option 8-Life Annuity with Partial Return of purchase price to survivor and balance to nominee.
Mrs Kanaka made a one-time payment of ₹7,55,197 and received an annual Annuity of ₹50,062 for her whole life.
After her death, her husband Mr Ramesh received 50% of the purchase price.
Years later after Mr Ramesh’s death, the balance was paid to Kavya, which helped her pursue her Master's degree.
Single man in Mumbai who switched from a corporate job to running his own cafeteria 5 years ago.
Mr. D’Souza opted for the ABSLI Guaranteed Annuity Plus plan with Option 9: Deferred Life Annuity with Return of Premium.
He paid a premium amount of ₹5,00,000 for 5 years. He chose to receive the annuity after a deferment period of 15 years during which time guaranteed* bonuses are added to the fund.
After Mr.D’Souza turns 60, he will start receiving an annuity of ₹3,47,066. Annuity payout is payable at the end of the Deferment Period.
With an assured regular payout, he could plan his post-retirement goals such as his dream vacation.
What's Included?
Survival Benefit
As long as you are alive, an annuity is payable to you in a level or increasing manner as per your choice.
Death Benefit
Upon your death, your nominee will receive an annuity until the end of the annuity period.
Surrender Benefit
If you surrender the policy before the policy term ends, you could receive a Surrender Benefit.
Tax Benefit^
You are eligible for an annual tax deduction of up to ₹1.5 lakh under section 80C.
Policy Loan
You can avail of a loan of up to 80% of the surrender value against this policy under certain annuity options.
Annuity Top-up
You can increase the annuity at an additional price at any point while the policy is in force.
Annuity Payout Flexibility
You can choose between monthly, quarterly, yearly, and half-yearly annuity payouts.
Deferred Annuity Option
You could avail the option to decide exactly when you want to start receiving your annuity.
What's Not Included?
No enhanced annuity under critical illness if diagnosed within 90 days from the policy effective date.
No enhanced annuity under permanent disability benefits if the disability is a direct result of attempted suicide, self-destruction, accident due to the influence of alcohol, disease or infection, nuclear contamination, etc.
No benefit for death or permanent disability acquired due to naval, military, or air force operations during peacetime.
No benefit for death or permanent disability due to flying activities or professional sports.
Choose The Right Option
Pick the plan that best suits your needs from the 10 plan options offered under ABSLI Guaranteed Annuity Plus
₹12000
₹12000
₹12000
₹12000
₹12000
₹12000
₹12000
₹12000
₹12000
₹12000
Get Started with ABSLI Guaranteed Annuity Plus
How to buy?
- Assess your needs and check the plan on the website.
- Carefully go through coverage and exclusions.
- Select the variant that meets your needs and click “Buy Online”.
- Share your details, select coverage, term etc.
- Make the payment and enjoy your newfound peace.
How to renew?
- Visit the policy renewal page on the website.
- Enter the policy number and your personal details.
- Check the renewal amount displayed.
- Make payment via preferred mode and relax.
- You will receive a confirmation email of the successful policy renewal
Check Your Eligibility
Before you invest in the plan, ensure you qualify and have the necessary documents.
Eligibility Criteria
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Age for Immediate annuity
Minimum : 45 years
Maximum : 65 years for options 6 and 7
90 years for other options -
Age for Deferred annuity
Minimum : 45 years
Maximum : 75 years - Citizenship Indian citizen residing in India at the time of purchase.
Documents Needed
- Proposal form
- Age proof
- Photo identity proof
- Address proof
- Medical report
- Income proof
- PAN/ Aadhaar card
Customer Satisfaction Stories
Hear from our customers what they have to say about their experience.
Aditya Birla Sun Life Insurance Customer
Due to seamless branch support and timely communication from ABSLI, my maturity payout process was quite smooth.
Aditya Birla Sun Life Insurance Customer
Haryana, India
Aditya Birla Sun Life Insurance Customer
Entire surrender process was quite smooth with timely documentation and payout. Great experience!
Aditya Birla Sun Life Insurance Customer
Gujarat, India
ABCD - One app for all your insurance needs
Secure yourself and your loved ones financially with life insurance. Buy online through the ABCD app and get instant coverage.
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Range of insurance policies to choose from -
Online premium payments
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Few clicks to buy the plan
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Understanding Guaranteed Annuity Plus
What is ABSLI Guaranteed Annuity Plus?
- ABSLI Guaranteed Annuity Plus is a non-linked, non-participating, general annuity plan that offers a range of annuity options, ensuring a guaranteed income for life.
- This plan is designed to assist you and your family in enjoying a retirement free from financial concerns.
Who should buy ABSLI Guaranteed Annuity Plus?
Salaried Employees
Contributing a part of regular fixed income will help them have a steady, independent income for themselves and their families in their later years.
Self-Employed Individuals
This plan can help those with fluctuating incomes live their retirement stress-free and provide for their loved ones as well.
Homemakers
People, especially women, who do not make their own money can plan for their old age with this plan.
People nearing retirement
It is never too late to plan and one can catch up with their financial needs in their post-retirement life by preparing beforehand.
How do annuity plans work?
-
Initial payment
You make a one-time or a fixed-period payment to the insurer as a premium
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Accumulation phase
The money is invested to grow. The insurer might also add some regular bonuses.
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Distribution phase
At a predetermined point, often at retirement, you start receiving a fixed payout.
-
Payout to nominee
Some plans continue to pay a portion of the annuity to your nominee after your demise.
What are the premium payment options?
-
Single Pay
Pay the entire premium amount for the policy upfront in one lump sum payment. This does away with the need to make regular payments which can be quite convenient.
-
Limited Pay
Pay the premium for a set number of years, typically 5 to 10 years. After that, you no longer need to pay premiums but the policy remains in force until maturity date.
What is the claims process for ABSLI Guaranteed Annuity Plus?
- Step 1 - Gather the required documents - the policy documents, certificates, ID proof, etc.
- Step 2 - Inform the insurer about the event by phone, email, website, or visiting a branch.
- Step 3 - Fill out and submit the claim forms along with all of the required documents.
- Step 4 - Track your claim through the website or by contacting customer support.
- Step 5 - Once your claim is verified and approved, the payout will be processed.
What are the Annuity options?
For Single Life
- Annuity certain for a specified period and thereafter for life
- Life annuity with return of balance of purchase price
- Life annuity with enhanced annuity on critical illness/ Accidental Permanent Disability and with Return of Purchase Price
- Life Annuity with Return of Purchase Price after the age of 80 years
For Joint Life
- Life annuity with 50% annuity payable to secondary annuitant on the death of the primary annuitant
- Life annuity with partial Return of Purchase Price to survivor and balance to nominee
For Single/Joint Life
- Life Annuity
- Life Annuity with Return of Purchase Price
- Deferred life annuity with Return of Premium
- NPS - Family Income (only for NPS subscribers)
FAQs on ABSLI Guaranteed Annuity Plus
There are different age criteria for this plan depending on the option chosen.
• The age at entry is between 45 to 90 years. [options 6 and 7 can be availed till age 65 years and option 9 till age 75 years]
• In the case of Joint Life Annuity, the age limits apply to both lives.
ABSLI Guaranteed Annuity Plus comes with multiple features that make it a popular plan. The features are as follows:
• Lifetime Income Assurance: Once purchased, ABSLI Guaranteed Annuity Plus ensures a guaranteed lifelong income for the annuitant.
• Flexible Joint Life Annuity: An option is provided to receive annuity payments for joint life, offering the choice between a single life or a joint life annuity.
• Streamlined Retirement Planning: Simplify retirement planning by investing today to secure a guaranteed lifetime income for the future. The deferred annuity option allows customers to plan for retirement early and lock in present annuity rates for a lifelong guaranteed payment.
• Diverse Annuity Options: Tailor your annuity plan to meet specific financial needs by selecting from a diverse range of annuity options.
• Varied Accumulation Periods: Under the Limited Pay Option, choose an accumulation period ranging from 5 to 15 years, based on individual needs and requirements.
• Annuity Enhancement Option: The plan offers an option to increase annuity through the Top-up option, providing added flexibility.
• Customised Payout Frequency: Tailor annuity pay-outs to suit personal preferences by selecting from monthly, quarterly, half-yearly, or yearly payment frequencies.
• For Single Pay ₹1,50,000
• For Limited Pay - The minimum premium should be sufficient to purchase a minimum annuity of ₹12,000 p.a. as per the selected annuity option.
• There is no maximum limit for purchase price/premium.
Deferment period means the period from the Date of Commencement of Risk till the policy anniversary preceding the date on which the first Annuity payment is made to the Annuitant as per the Deferred Annuity option.The deferment period is applicable only for Deferred Annuity variants and not for Immediate Annuity variants and cannot be changed during the term of the policy.
Annuity rates are determined at the date of purchase. Once the plan is purchased, they are guaranteed for life.
The product provides periodical Annuity payouts to the Annuitant for the whole life as per the chosen Annuity option. Annuitants need to provide a Survival Certificate to get a regular stream of income.
There is no Maturity Benefit available under this plan.
These choices can be made only at the inception of the policy and they cannot be changed subsequently.
The policy shall terminate upon the earliest occurrence of any of the following.
For Annuity Option 2
• The date of expiry of the chosen Annuity Certain period OR
• The date of death of the Annuitant, whichever is later.
For Annuity Options 1, 3, 4, 5, 6, 7, 8 and 9
• The date of death of the Annuitant under Single Life
• Date of death of the last surviving Annuitant under Joint Life
For Annuity Option 10
• The date of death of the last surviving family member is covered under the policy
For Annuity Options 5, 6, 7, 8, 9 and 10
• The date of surrender of the policy/Annuity Certificate
The date of payment of the free-look cancellation amount
Yes, you may avail of a loan under the following ABSLI Guaranteed Annuity Plus options. You can check the plan brochure for further details about policy loans.
• Life Annuity with Return of Purchase Price
• Life Annuity with Enhanced Annuity on Critical Illness/ Accidental Permanent
• Life Annuity with Return of Purchase Price on attainment of Age 80 years
• Life Annuity with partial Return of Purchase Price to survivor and balance to nominee
• Deferred Life Annuity with Return of Premium
• NPS – Family Income
Yes, a great option to get more out of your Guaranteed Annuity Plan at a nominal price is to get a Top-Up.
• Top-up Annuity
• Effective immediately; eligibility criteria remain the same
• Increase Annuity anytime during the policy term
Yes, tax benefit^ is applicable under ABSLI Guaranteed Annuity Plus per prevailing tax laws.
ABSLI Guaranteed Annuity Plus has a policy term of Whole Life.
Our Other Insurance Plans
ABCD Of Insurance
^Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
*Provided all due premiums are paid.
1 Male age 60 years, Annuity Option -Life Annuity, Annuity Payout Frequency-Annual, Option chosen of Premium, Purchase Price Rs.10,00,000, Level Annuity, PPT: Single Pay, Single Life. Receive Annuity Rs.89,496 per annum/-
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a Non-Linked, Non-Participating, General Annuity Plan. All terms & conditions are guaranteed throughout the Policy Term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc. All policy benefits are subject to policy being In-force. For further details please refer to the Policy contract. Tax benefits are subject to changes in the tax laws. For more details and clarification call your Insurance Advisor or visit our website and see how we can help in making your dreams come true. UIN: 109N132V09
ADITYA BIRLA CAPITAL DIGITAL LIMITED is a corporate agent of Aditya Birla Sun Life Insurance Company under IRDAI Registration No: CA0871 and does not underwrite the risk or act as an insurer. Registered Address: 18th Floor, One World Center, Tower 1, Jupiter Mills Compound,841 Senapati Bapat Marg, Elphinstone Road Delisle Road, Mumbai Maharashtra 400013. Participation by the ABCD’s clients in the insurance products is purely on a voluntary basis.
The Trade Logo “Aditya Birla Capital” Displayed Above Is Owned By ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) And Used By ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the License. For policies issued on minor life, the date of commencement of risk shall be the date of commencement of the policy. Where a policy is issued on a minor life, the policy will vest after attainment of majority of the Life Insured. Where the Life Insured (whether major or minor) and Proposer/Policyholder is different, on the death of the Proposer/Policyholder, his legal heirs, in accordance with the existing succession laws, will be considered as new Proposer/Policyholder. Tax benefits are subject to changes in the tax laws.
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. Registered Office: One World Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI Reg No.109 | Toll Free No. 1-800-270-7000 | Website: https://lifeinsurance.adityabirlacapital.com | CIN: U99999MH2000PLC128110 | UIN:109N108V11| ADV/3/23-24/3818
BEWARE OF SPURIOUS / FRAUD PHONE CALLS!
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.