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.


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.

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.

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).


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