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Short-Term Investment#. Long Term Guaranteed 2 Returns.

  • Guaranteed Lumpsum Benefit2
  • Long term regular income

Why buy ABSLI Assured Income Plus? ​​​​​

Aditya Birla Sun Life Insurance Assured Income Plus gives you life cover and assured income for the long term. Make savings easy and convenient.

ALL YOU NEED TO KNOW

Benefits

Key Features

  • Fully Guaranteed2 Returns on your investment.
  • Long-term regular income for 20, 25 or 30 years to ensure fulfilment of recurring needs.
  • 2 Options to choose benefits under the policy, Income Only Benefit or Income with Lumpsum Benefit.
  • Loyalty Additions as an additional boost to the Income Benefit pay out.
  • Flexibility to receive a discounted value of future survival benefits as a lumpsum based on your needs
  • Option to enhance your cover with appropriate riders.
Card Reward and Redemption

Benefits of ABSLI Assured Income Plus

ABSLI Assured Income Plus benefits you with guaranteed2 regular income for the long term in future.

  • Survival Benefit:

On surviving till the end of policy term, 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. The Survival Benefit applicable for both the Benefit Options – Income Only Option and Income with Lumpsum Benefit Option.

  • Death Benefit:

In the unfortunate event of Death of the Life Insured anytime during the policy term, provided the Policy is in-force, Sum Assured on Death shall be payable as a lump-sum to the nominee.

The policy covers death under all situations (including death during declared or undeclared war, civil commotion, invasion, terrorism, hostilities) except death due to suicide as specified in the suicide clause.

Sum Assured on Death is defined as higher of:

a) 10 times of Annualized Premium

b) 150% of Total Premiums paid till the date of death

c) Sum Assured

The product also provides staggered death benefit option where 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

  • Tax Benefit

You may be entitled to certain applicable tax benefits on the premiums paid and benefits received under Your Policy. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek independent tax advice.

  • Rider Benefit:

For added protection, you can enhance your risk coverage during the policy term by adding riders at a nominal extra cost.

Card Reward and Redemption

Plan Options

ABSLI Assured Income Plus offers the flexibility to choose from two plan options.

Option 1

  • Income Only Benefit

Under this option, Income Benefit, expressed as a percentage of Annualized Premium, is paid which varies with Your age at entry, premium amount, premium payment term and benefit payout period.

Option 2

  • Income with Lumpsum Benefit

Under this option, Income Benefit, expressed as a percentage of Annualized Premium, is paid to you, which varies with Your age at entry, premium amount, premium payment term and benefit payout period.

Additionally, under this option, at the end of the Benefit payout period, a Guaranteed Lumpsum Benefit will also be payable.

Card Reward and Redemption

Enhance ABSLI Assured Income Plus with Riders

Enhance your cover with Riders at nominal additional premium

  • ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)

This rider provides 100% of Rider Sum Assured as an additional lump sum amount in case of death due to accident of Life Insured. Additionally, the rider premiums collected aſter the date of Accident till date of death, shall be refunded with interest, along with death benefit payable. This rider is only applicable for a Life Insured aged 18 years & above and the rider policy term cannot exceed the base policy term.

  • ABSLI Critical Illness Rider (UIN: 109B019V03)

This rider provides 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.

  • ABSLI Surgical Care Rider ( UIN: 109B015V03)

This rider provides lump sum benefit in case of hospitalization 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 Hospital Care Rider ( UIN: 109B016V03)

This provides daily cash benefit in case of hospitalization 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 hospitalization. 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 Waiver of Premium Rider (UIN:109B017V03)

​​​​​​​This rider 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 Life Insured is a minor i.e. below 18 years of age and is different from the Policyholder).

Card Reward and Redemption

Details of the Commission earned by the Bank as corporate agent from Life Insurance distribution business are as follows:

Category First Year Commission Rate 2nd Year Renewal Commission Rate Single Premium Commission Rate
  Min Max Min Max Min Max
Pension 0.50% 55.00% 0.00% 2.00% 0.00% 2.00%
Protection 2.00% 55.00% 0.00% 10.00% 0.00% 7.50%
Savings & Investment 0.50% 55.00% 0.00% 7.50% 0.00% 2.00%
Health 2.00% 55.00% 1.00% 10.00% 0.00% 2.00%
Group - - - - 22.50% 30%


Note: The commission varies depending upon the product in each category, tenure, amount of premium and premium paying term. 

*For Group Products commission payable is with a ceiling on the maximum payout as defined by Insurance Regulatory and Development Authority of India (IRDAI) from time to time

Frequently Asked Questions

No, Loyalty Addition is applicable only for policies that have paid all the due premiums under the policy.

ABSLI Assured Income Plus has a maximum maturity age of 77 years.

Yes, there are 2 Survival Benefit Options available under this plan: Income only Benefit & Income with Lumpsum Benefit .

The minimum sum assured under this plan is ₹5,50,000/-

No, the chosen Benefit Payout Frequency cannot be changed during the policy term.

In case the Life Insured, minor or major, dies due to suicide within 12 months from the Risk Commencement Date or date of revival of the policy, the policy shall immediately terminate, and Company shall pay the following to the Nominee:

  • Where the Policy has acquired the Surrender Value, higher of Surrender Value or (Total Premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes) till date of death.
  • Where the Policy hasn’t acquired the surrender value, Total Premiums paid plus underwriting extra premiums plus loadings for modal premiums paid excluding applicable taxes) till date of death.

Yes, provided there is no nondisclosure on the COVID Questionnaire. Please ensure that the COVID questionnaire is filled.

All the claims under the ABSLI Assured Income Plus must be intimated as soon as possible. Followed with the claim intimation, the necessary documents should be submitted enabling the insurance company to process the claim. The claim intimation should contain details like date, place and cause of death.

The surviving nominee/appointee/policy owner or legal heir can intimate the claim under ABSLI Assured Income Plus.

Key features of ABSLI Assured Income Plus are:

  • Guaranteed Lumpsum Benefit – Guaranteed Lumpsum Benefit, if applicable, shall be payable at the end of the benefit payout period, to boost your savings
  • Long-Term Income: Get guaranteed regular income for a period of 20, 25 or 30 years to ensure fulfilment of your recurring needs in the long term.
  • Twin Benefit Options: Flexibility to choose between two benefit options i.e. a) Income only Benefit or b) Income with Lumpsum Benefit– in line with Your financial needs.
  • Loyalty Additions: Loyalty Additions as an additional boost to the Income Benefit pay-out.
  • Customizable Benefits: Option to enhance Your insurance cover with appropriate riders at a nominal extra cost.

As per extant tax laws, this plan offers tax benefits³ under Section 80C, 80D (for specific rider premium) and Section 10(10D) of the Income Tax Act, 1961, subject to fulfilment of the other conditions of the respective sections prescribed therein. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by policyholder. It is advisable to seek independent tax advice.

You can intimate the claim under ABSLI Assured Income Plus by:

  • Visiting any nearest branch
  • Visiting our website and intimate the claim by clicking the link here.
  • Sending an intimation email (claims.lifeinsurance@adityabirlacapital.com) or letter with all the relevant documents to the company.

Disclaimer

# Life insurance coverage is available on this product.

1 Scenario: Healthy male age 21 years, premium paying term 12 years, policy term 13 years, benefit payout period 20 years, payment frequency monthly, Assured Benefit Option:Income with Lumpsum Benefit, Sum Assured Rs.16.11 lakhs,

Premium Rs.9996/- excluding GST), you get Rs.47.21 lakhs by age 54 2 Provided all due premiums are paid.

3 Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.

4 Our life insurance policies cover COVID -19 claims under life insurance claims, subject to applicable terms & conditions of policy contract and extant regulatory framework.

HDFC Bank Ltd. is a corporate agent of Aditya Birla Sun Life Insurance Company under IRDAI Registration No: CA0010 and does not underwrite the risk or act as an insurer. Registered Address: HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Lower Parel, Mumbai, Maharashtra 400013. Participation by the Bank’s clients in the insurance products is purely on a voluntary basis.

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: 109N127V10 ADV/2/22-23/3418

For more details on risk factors, terms and conditions please read sales brochure carefully before concluding the sale.

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. Aditya Birla Sun Life Insurance Company Limited, Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. Registered Office: One World Center Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. Toll free no. 1800-270-7000. www.adityabirlasunlifeinsurance.com CIN: U99999MH2000PLC128110 Registration No. 109.

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.

“As per recent changes in section 10(10D) of Income Tax Act, where the amount of aggregate annual premium payable in the financial year in case of Traditional plans (all non-unit linked plans except Annuity, Pension and Pure Risk Plans) issued on or after 1st April 2023 exceeding INR 5,00,000 the benefits of the policy/policies shall not be eligible for exemption under section 10(10D) except in case of death”. The customer is requested to seek advice of a tax advisor with respect to his/her personal tax liabilities under the Indian Income-tax law."