ABSLI Assured Income Plus: Guaranteed Savings Plan

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Aditya Birla Capital Limited (“ABCL”) is a listed systemically important nondeposit 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 68,400 employees, the businesses of ABCL have a nationwide reach with over 1,740 branches and more than 200,000 agents/channel partners along with several bank partners.

Nationwide Branches

1,740

No. of Employees

68,400

Agents/Channel Partners

2,00,000+

Aggregate Assets

INR 5.91 Lakh Cr

Consolidated Lending Book

INR 2 Lakh Cr

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How does the ABSLI Assured Income Plus work?

Rahul (35 yrs)

He works in a multinational company and wants regular payouts to supplement his income.

He chooses the ABSLI Assured Income Plus, paying a premium of ₹1,00,000 every year.

He chooses the "Income only Benefit" Option.

He opted for a premium payment term of 8 years, a policy term of 9 years, and a benefit payout period of 30 years, where the benefit will be paid annually.

Rahul survives the policy tenure and receives an annual income of ₹74,603 over the payout period.

Rahul (35 yrs)

He works in a multinational company and wants regular payouts to supplement his income.

He chooses the ABSLI Assured Income Plus. He pays a premium of ₹1,00,000 every year.

He chooses the "Income with Lump Sum Benefit'' Option.

He opted for a premium payment term of 8 years, a policy term of 9 years, and a benefit payout period of 30 years, where the benefit will be paid annually.

Rahul survives the policy tenure and receives an annual income of ₹66,838 over the payout period and a guaranteed² lump sum benefit of ₹8,80,000 after the payout period.

What's Included?

Survival Benefit

On surviving till the end of the policy term, an Income Benefit is payable to you for 20, 25 or 30 years at the end of the period (monthly, quarterly, half yearly or annually) as per the Benefit Payout Frequency chosen.

Death Benefit

In case of demise during the policy term, the nominees or legal heirs will receive the Sum Assured on Death in a lump sum.

Staggered Death Benefit

The Nominee will have an option to receive the amount of Death Benefit in annual/ monthly instalments payable at the end of the year/month instead of a lump-sum, over a period of 10 years as per the specified percentages in the brochure.

Tax Benefit*

Tax benefits maybe available under the policy as per the prevailing tax laws.

Loyalty Additions

Your Income Benefit will increase every year during the benefit payout period through Loyalty Addition, defined as a percentage of the Income Benefit.

Benefit Payout Frequency

At policy inception, you will have the option to receive the Income Benefit in annual or semi-annual or quarterly or monthly frequency. You have the flexibility to change the chosen Benefit Payout Frequency during the policy term as per your changing needs.

What's Not Included?

𝐒𝐮𝐢𝐜𝐢𝐝𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐨𝐧: If the Life Insured dies by suicide within 12 months of the effective date of risk commencement or the date of revival of Policy, the Policy shall terminate immediately. In such cases, the Company shall pay higher of Surrender Value or (total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes) in case the Policy has acquired a surrender value; or Total Premiums Paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes in case the Policy has not acquired a surrender value.

Need More Information?

Download Brochure

Download Policy Contract

Download Leaflet

Choose The Right Option

Choose from the following benefit options

Option 1^#

Income Only Benefit Option

Minimum Sum Assured

Rs. 5,50,000

Premium Starting From

₹ 50,000/ Year

Option 1^#

Income With Lump Sum Benefit

Minimum Sum Assured

Rs. 5,50,000

Premium Starting From

₹ 50,000/ Year

Add Riders for Extra Protection

This is a great option for getting the most out of the Assured Income Plus Plan, with value-for-money add-on benefits that ensure complete protection.

ABSLI Accidental Death Benefit Rider Plus

UIN: 109A024V01

If the life insured dies in an accident, 100% of the Rider Sum Assured will be paid to the nominee. The premiums collected after the accident and till the date of death will also be refunded.

ABSLI Waiver of Premium Rider

UIN: 109B017V03

Waives off all future premiums of the base plan and the attached riders throughout the rest of the premium payment in case of diagnosis of critical illness, disability or death (only if the life insured is a minor i.e. below 18 years of age and is different from the policyholder).

ABSLI Hospital Care Rider

UIN: 109B016V03

Provides a daily cash benefit in case of hospitalisation for a minimum period of 24 hours for medically necessary treatment of any Illness or Injury payable from the first day for the duration of hospitalisation. This rider is only applicable for a life insured aged 18 years and above, and the rider policy term cannot exceed the base policy term .

ABSLI Surgical Care Rider

UIN: 109B015V03

Provides a lump sum benefit in case of hospitalisation for a minimum period of 24 hours for undergoing medically necessary surgery in India. This rider is only applicable for a life insured aged 18 years and above, and the rider policy term cannot exceed the base policy term.

ABSLI Critical Illness Rider

UIN: 109B019V03

Provides a lump sum on survival of 30 days from the date of diagnosis of any of the specified critical illnesses. This rider is only applicable for a life insured aged 18 years and above, and the rider policy term cannot exceed the base policy term .

Get started with ABSLI Assured Income Plus

How to buy?

Evaluate your requirements and review the plan on the website.
Check 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 new plan

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

How to claim?

Gather all required documents - policy, death certificate etc.
Visit the claims section on the website.
Provide basic details about the policy and the policyholder.
Intimate us about your claim in the given format.
Submit the required documents and we’ll get back to you.

Check Your Eligibility

Before you invest in the plan, ensure you qualify and have the necessary documents.

Eligibility Criteria

Entry Age 30 days to 65 years.
Maturity Age 18 years to 85 years.
Citizenship Indian citizen residing in India at the time of purchase
Premium payment term (PPT) 5,6,8, 10 or 12 years
Policy term 5 to 17 years depending on the PPT
Minimum annual premium ₹50,000
Minimum sum assured ₹5,50,000

Documents Needed

These are some of the documents you would need to purchase the ABSLI Assured Income Plus

Proposal form
Age proof
Photo identity proof
Address proof
Medical report
Income proof
PAN/ Aadhaar card
Any other document depending on the underwriter’s requirements

Customer Satisfaction Stories

Due to seamless branch support and timely communication from ABSLI, my maturity payout process was quite smooth.

Mr. Bansal

Aditya Birla Sun Life Insurance Customer

Haryana, India

Mr. Manish Mandhani

Aditya Birla Sun Life Insurance Customer

Entire surrender process was quite smooth with timely documentation and payout. Great experience!

Mr. Ganvit

Aditya Birla Sun Life Insurance Customer

Gujarat, India

Mr. Sandip Prajapati

Aditya Birla Sun Life Insurance Customer

Understanding ABSLI Assured Income Plus

Table of Contents

What is ABSLI Assured Income Plus ?Who should buy the ABSLI Assured Income Plus?Why choose the ABSLI Assured Income Plus?What is the commutation option in the ABSLI Assured Income Plus?What are the loyalty additions?What is the Staggered Death Benefit in ABSLI Assured Income Plus?What factors affect the policy premium?What is the claim process for ABSLI Assured Income Plus?

What is ABSLI Assured Income Plus?

ABSLI Assured Income Plus is an individual savings life insurance policy which offers life cover and long term assured income. It helps you to get the essential life cover and also ensures a guaranteed2 regular income to fulfil the changing needs of you and your family.

The plan offers two benefit options, Income Only and Income with Lump Sum, to choose from according to your family’s financial goals.

These plans are designed to provide financial security and regular income to the policyholder and their family. With the regular guaranteed2 income, you can meet the recurring needs of your family in the long term.

Who should buy the ABSLI Assured Income Plus?

Young individuals

The earlier you buy life insurance, the better. ABSLI Assured Income Plus provides a stable regular long-term income which can help you to fulfil your family’s financial needs when you have a family later.

Married individuals

If you are newly married or plan to start a family soon, it can provide financial security for your spouse and ensure a better future for them.

Breadwinners

If you are the primary earner in your family, it can help replace your income and support your loved ones if you pass away.

Parents

If you have young children, the ABSLI Assured Income Plus can help secure their education, upbringing, and even marriage if you are no longer there.

Individuals nearing retirement

If you are nearing retirement, the long-term income benefit of the ABSLI Assured Income Plus can provide retirement income during your post-retirement years.

Why choose the ABSLI Assured Income Plus?

Financial Stability for Dependents

Ensure the financial well-being of your dependents with multiple payout options - lump sum, regular income , or a combination of both.
Unique Income Benefit

ABSLI Assured Income Plus provides assured returns in the form of Income Benefit for a period of 20, 25 or 30 years ensuring you meet your financial short-term and long term goals with ease.

Loyalty additions

The Loyalty addition feature of the plan boosts the income pay-out enabling you to tackle inflation and the rising cost of living.
Customisation benefits

The plan provides an option to enhance its coverage through a range of five optional riders and customise the plan to suit your specific insurance requirements at a low additional premium.

Who should buy the ABSLI Assured Savings Plan?

ABSLI Assured Income Plus offers flexibility to get a lump sum amount instead of Income Benefits and Guaranteed Lump Sum Benefit, at any time on or after the end of the term of the policy.

What are the loyalty additions?

Loyalty Addition is defined as a percentage of the Income Benefit depending on the annualised premium and the premium payment term. For both benefit options, the Income Benefit will be enhanced by a fixed percentage every year during the Benefit Payout Period by adding Loyalty Addition, provided all premiums have been paid during the premium paying term.

What is the Staggered Death Benefit in ABSLI Assured Income Plus?

Under the Staggered Death Benefit option, the nominee has an option to receive the Death Benefit in annual/ monthly instalments at the end of every year/month instead of a lumpsum, over a period of 10 years at a fixed percentage depending on the frequency of the instalment as follows:

Instalment Frequency	Annual	Monthly
Instalment (as % of Death Benefit)	12.12%	1.03%
Total payments made (as % of Death Benefit)	121.20%	123.60%

What factors affect the policy premium?

Age

You will typically pay lower premiums if you are younger.

Gender

Women typically pay lower premiums than men as their life expectancy is higher.

Medical History

If you have any health problems, you will likely have higher premiums.

Lifestyle

Your lifestyle choices, such as smoking, drinking, and being overweight, can increase your premiums.

Profession

Risky professions such as construction, mining, oil exploration, firefighting, etc. will likely have higher premiums.

Policy type

The type of policy you choose can also affect your premium.

Sum insured

The higher the sum insured, the higher your premium.

What is the claim process for ABSLI Assured Income 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.

FAQs on ABSLI Assured Income Plus

The Aditya Birla Sun Life Assured Income Plus Plan is a savings-oriented life insurance plan. It provides insurance protection during the policy term and also helps you create a regular flow of income for your and your family’s needs.

The Assured Income Plus Plan not only provides insurance protection but also helps you avail of guaranteed2 incomes after the policy tenure. The nominee can avail of the death benefit in a lump sum or in the form of installments under the Staggered Death Benefit option.

The plan also offers survival benefits, which the policyholder can receive in the form of regular income or a combination of lump sum and income. There is also a Loyalty Addition to the plan, which helps enhance the benefits payable to you.

Individuals aged between 1 year and 60 years can buy the Assured Income Plus Plan. Under POS, the age would depend on the premium payment term

Some of the key features of the plan include the following -

● You get long-term guaranteed2 income to fulfil your recurring financial needs
● You can choose to get the plan benefits in a lump sum or in a mix of lump sum and income
● Loyalty Additions help in boosting the benefits available under the plan
● You also get a guaranteed2 lump sum benefit after the benefit payout period under specific plan options
● You can also choose to receive a discounted value of the future survival benefits as a lump sum through the Commutation Option available under the plan
● Optional riders are available to enhance the scope of protection.

The minimum entry age is 1 year, and the maximum age limit is 60 years. Under the POS option, though, the maximum entry age depends on the premium payment term. These are as follows -

● For 5 pay - 60 years
● For 6 pay - 59 years
● For 8 pay - 57 years
● For 10 pay - 55 years
● For 12 pay - 53 years

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Disclaimer

*Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
# Life insurance coverage is available on this product.
2 Provided all due premiums are paid.

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a Non-Linked Non-Participating Individual Savings Life Insurance Plan. 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.

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. As there is no death benefit payable on the death of the Proposer/Policyholder, the policy status does not change, and the policy continues.

This product shall also be available for sales through online channel. Tax benefits are subject to changes in tax laws. For more details and clarification call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true.

UIN:109N127V14 ADV/5/24-25/338