LIFE INSURANCE
Aditya Birla Sun Life Insurance Company Limited

Key Features

Fully Guaranteed Returns

Long-term regular income

2 Options to choose benefits

Loyalty Additions

Flexibility to receive lump sum

Option to enhance your cover

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.

FAQs

Can policyholders avail tax benefits under ABSLI Assured Income Plus?
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.
After how many days of claim should the dependents intimate the claim to insurance companies?
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.
Who can intimate the claims under ABSLI Assured Income Plus?
The surviving nominee/appointee/policy owner or legal heir can intimate the claim under ABSLI Assured Income Plus.
How can we file a claim with ABSLI under ABSLI Assured Income Plus?
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.
Does this policy cover death due to Covid 194>
Yes, provided there is no nondisclosure on the COVID Questionnaire. Please ensure that the COVID questionnaire is filled.
What are the significant features of 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.
What is the age criteria of ABSLI Assured Income Plus?
Anyone meeting the following criteria is eligible for ABSLI Assured Income Plus:
Age of the Life Insured at Entry (age as on last birthday)
Minimum
1* year (subject to minimum maturity age of 18 years) * In case the Life Insured is a minor, the Policy will automatically vest once the life insured attains the age of majority. The risk coverage for the minors will start from the Date of Commencement of Risk.
What is the maximum maturity age applicable for ABSLI Assured Income Plus?
ABSLI Assured Income Plus has a maximum maturity age of 77 years.
Are there any plan options/benefit options available in ABSLI Assured Income Plus?
Yes, there are 2 Survival Benefit Options available under this plan: Income only Benefit & Income with Lumpsum Benefit .
What is the minimum sum assured under ABSLI Assured Income Plus?
The minimum sum assured under this plan is ₹5,50,000/-
Can the benefit payout frequency be changed during the Policy Term under ABSLI Assured Income Plus?
No, the chosen Benefit Payout Frequency cannot be changed during the policy term.
Will the policyholder be eligible for Loyalty Additions if he/she has not paid the premiums in full under ABSLI Assured Income Plus?
No, Loyalty Addition is applicable only for policies that have paid all the due premiums under the policy.
What happens in case of death of the Life Insured by suicide under ABSLI Assured Income Plus?
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.
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Disclaimer
# Life insurance coverage is available on this product.

1 Provided all due premiums are paid.

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

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

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

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: 109N127V13. ADV/12/22-23/2484