Benefits

Key Features


  • Guaranteed# lifelong income with a choice of multiple annuity options
  • Deferred Annuity option to build regular income stream for future with deferment period up to 15 years
  • Wide range of accumulation periods ranging from 5 years to 15 years available under Limited Pay Option
  • Receive annuity (series of payments at regular intervals) as long as you or your partner is alive.
  • Option to increase annuity through top-ups

Benefits of ABSLI Guaranteed Annuity Plus


Make yourself future ready and receive regular income with ABSLI Guaranteed # Annuity Plus.

  • Survival Benefit

Annuity is payable as long as the annuitant is alive in Single Life/Joint Life Plan. Annuitant can choose level or increasing option. Read the policy brochure for detailed benefits

  • Death Benefit

On death of the annuitant the annuity will be paid to the nominee, till the end of the annuity certain period, depending on the plan option. Read the policy brochure for detailed benefits.

  • Surrender Benefit

The amount of annuity received when you surrender the policy before the end of policy term. The benefit is not applicable under Option1, Option 2, Option 3 and Option 4. However, the benefit under different plans varies depending on the option selected. Read the policy brochure for detailed benefits.

  • Tax Benefit2

The policy provides tax benefit² to the policyholder on all the premiums paid. The tax benefits are subject to changes in tax laws. Consult your financial advisor for the same.

Plan Options


ABSLI Guaranteed Annuity Plus provides the flexibility to choose from 10 plan options to suit your varied needs.

  • Option 1: Life Annuity (Level/Increasing at 3%/Increasing at 5%)

Choose to receive a level or increasing annuity, depending upon your need.

  • Option 2: Annuity Certain for a specified period and thereafter for Life

Receive the guaranteed# annuity during the annuity certain period chosen by the annuitant.

  • Option 3: Life Annuity with Return of Balance of Purchase Price

(Level/Increasing at 3%/Increasing at 5%)

Annuitants can choose to get a level or increasing annuity, and the balance purchase price will be returned back to the nominee.

  • Option 4: Life Annuity with 50% annuity payable to secondary annuitant on death of Primary Annuitant

Benefit continues even after the death of the primary annuitant. Secondary annuitant continues to get 50% annuity if primary annuitant predeceases.

  • Option 5: Life Annuity with Return of Purchase Price (100% ROP /75% ROP /50% ROP) Annuitant gets life-long annuity and return of purchase price as per chosen RoP percentage.
  • Option 6: Life Annuity with Enhanced Annuity on Critical Illness/ Accidental Permanent Disability and with Return of Purchase Price

In addition to lifelong annuity guaranteed# at inception and return of premium, get 50% enhanced annuity on occurrence of 42 specified critical illness or accidental permanent disability

  • Option 7: Life Annuity with Return of Purchase Price on attainment of Age 80 years

Get back the return of purchase price early at age 80 while your annuity continues for life.

  • Option 8: Life Annuity with Partial Return of Purchase Price to survivor and balance to nominee

Option to get life-long annuity and return of 50% purchase price to surviving annuitant and balance to nominee/legal heir, on death of last surviving annuitant.

  • Option 9: Deferred Life Annuity with Return of Premium

Plan your retirement early or whenever you want. Option to choose the Deferment Period from 1 to 15 years for Single Pay Policies and Deferment Period from Chosen PPT to 15 Years for Limited Pay Policies.

  • Option 10: NPS - Family Income

Option for National Pension System (NPS) Subscribers only.


View Commission-related information

Eligibility