At a Glance

In today's world, having an adequate life insurance cover along with an assured long-term income to keep pace with your family's changing needs works as a much-needed financial cushion. Introducing ABSLI Assured Income Plus, a savings plan that provides the benefit of life insurance cover along with a regular income for 20, 25 or 30 years to ensure fulfilment of your family’s long-term goals and aspirations.

 

Key Features

  1. Get guaranteed1 regular income for a period of 20, 25 or 30 years2.
  2. Flexibility to choose between Income only Benefit or Income Benefit with Return of Premium (RoP).
  3. Loyalty Additions as an additional boost to your Income Benefit and Return of Premium (RoP) benefit pay-out.

1Provided all premiums are paid. 2Benefit Payout period of 25 years and 30 years is only available for 6 pay and 8 pay.


Illustration3

Age

Gender

Policy Term

Premium Paying Term

Premium Paid (Per annum)

Get4

35

Male

9

8

Rs. 10,00,000

Rs. 2,63,80,031

3Age: 35 years Male | Income with Return of premium benefit option | Annual Premium: Rs. 1 lakh p.a. | Premium Paying Term: 8 years | Policy Term: 9 years | Benefit payout period: 25 years | Benefit Payout Frequency: Annual | 4Income benefit + Loyalty addition on income benefit - Rs. 623,681 p.a from 10th to 34th year | 4Return of premium benefit along with loyalty additions – Rs. 107,88,000 at the end of 34th year | Additional benefits are available at additional cost. Premium rates are exclusive of GST.

 

Key Benefits

Death Benefit

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. Key Benefits Offered Under The Plan Sum Assured on Death is defined as higher of:

  1. 10 times of Annualized Premium
  2. 150% of Total Premiums paid till the date of death
  3. Sum Assured
  1. Sum Assured Multiple: Sum Assured multiple for male lives is as per mentioned in the product brochure. Sum Assured multiple for female lives is based on the multiple for male lives with a 3-year setback.
  1. Staggered Death Benefit Option: 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 percentages.

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 is as per mentioned in product brochure.

  1. Income Only Benefit Option: Income Benefit, expressed as a percentage of Annualized Premium, will be paid to you which varies by your age at entry, premium amount, Premium Payment term and Benefit Payout Period.
  1. Income Benefit with Return of Premium (RoP) Option: Income Benefit expressed as a percentage of Annualized Premium will be paid to you which varies by your age at entry, premium amount, Premium Payment term and Benefit Payout Period. Additionally, under this option, the Total Premiums paid by you will also be returned at the end of the Benefit Payout Period.
  1. Loyalty Addition: We will enhance your Income Benefit every year during the Benefit Payout Period and the Return of Premium (RoP), if any, by adding a Loyalty Addition, provided all premiums have been paid during the Premium Paying Term. Loyalty Addition is defined as a percentage of the Income Benefit or RoP.
    In case of death of the Life Insured during the Benefit Payout Period, the Income Benefit, RoP, if any, and Loyalty addition will continue to be paid to the nominee.
    Please Note, Loyalty Addition is applicable only for policies that have paid all the due premiums under the policy
  1. 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. For annual frequency, Income Benefit please refer product brochure. For semi-annual, quarterly, and monthly frequency, the Income Benefit shall be based on the annual Income Benefit.

Maturity Benefit

At the end of the Policy Term, you will have the flexibility to use the commutation option wherein, at any time on or after end of the Policy Term, if you would like to get a lump sum instead of the Income Benefits (and RoP, if any), the commuted value of the outstanding benefits shall be paid as a lump sum. This lump sum will be at least equal to the Total Premiums Paid less any Survival Benefit already paid. The lump sum benefit is calculated using factors determined by a discount rate of 8.65%. The Company may revise the factors based on the then prevailing market conditions subject to prior IRDAI approval. Any change in the methodology/formula for calculating the factors shall also be subject to IRDAI approval.

Customisable Benefit:

  • For added protection, you can enhance your risk coverage during the Policy Term by adding following riders5 at a nominal extra cost.
  • ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)
  • ABSLI Critical Illness Rider (UIN: 109B019V03)
  • ABSLI Surgical Care Rider (UIN: 109B015V03)
  • ABSLI Hospital Care Rider (UIN: 109B016V03)
  • ABSLI Waiver of Premium (UIN:109B017V03)
 

Eligibility

Plan Parameters

Minimum

Maximum

 

Type of Plan

A Non-Linked Non-Participating Individual Life Insurance Savings Plan

Coverage

All Individuals (Male | Female | Transgender)

 

 

 

 

Age of the Life Insured at Entry (age as on last birthday)

116 years for Policy Term 7 years
96 years for Policy Term 9 years
 56 years for Policy Term 13 years
6In 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

60 years

 

 

 

Maturity Age of the Life Insured (age as on last birthday)

18 years

73 years

 

 

 

Premium Payment Term (PPT), Policy Term (PT) and Benefit Payout Period

Premium Payment Term (PPT)

Policy Term (PT):
PPT + 1 year

Benefit Payout Period7

 

 

6 years

7 years

20, 25, 30 years

 

 

8 years

9 years

20, 25, 30 years

 

 

12 years

13 years

20, 25 years

 

 

7The Benefit Payout Period commences after the end of the Policy Term, during which the Survival Benefit is payable to the Policyholder. It is chosen at policy inception and cannot be changed thereafter.

Premium Payment Modes and Modal Loading

Annual | Semi-Annual | Quarterly | Monthly

 

 

 

 

Mode

Annual

Semi-annual

Quarterly

Monthly

Modal Loading

0.0%

1.0%

1.5%

3.5%

Annualized Premium

Rs. 50,000

No Limit (subject to Board Approved
Underwriting Policy)

 

 As per under-writing

 

Sum Assured

Rs. 5,50,000

Subject to Board Approved Underwriting Policy

 

 

 

Benefit Options

The Policyholder at policy inception can choose from
the following two options:
1) Income only Benefit
2) Income Benefit with Return of Premium (RoP)
 [where the Total Premiums paid is returned at the end of the Benefit Payout Period]
 The Benefit Option is chosen at inception and cannot be changed thereafter

Benefit Payout Frequency

Annual, Semi Annual, Quarterly and Monthly

 

For details on benefits, terms and conditions please refer the brochure.
 

Disclaimer

“The 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.”

DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the registered office at GF: Nos. 11 & 12, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Corporate Agent of Aditya Birla Sun Life Insurance Company Limited. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. The Insurance product is underwritten by Aditya Birla Sun Life Insurance Company Limited. The contract of insurance is between the insurer and the insured and not between the Bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis, and is not linked to availment of any other facility from the bank.

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked non-participating individual life insurance savings 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 on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. 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. Registered Office: One World Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI Reg No.109. Toll Free No. 1-800-270-7000. Website: www.adityabirlasunlifeinsurance.com. CIN: U99999MH2000PLC128110 UIN: 109N127V04 ADV/6/21-22/391

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.

Disclaimer

DBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the registered office at GF: Nos. 11 & 12, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Corporate Agent of Aditya Birla Sun Life Insurance Company Limited (IRDA of India Regn.No.109) CIN: U99999MH2000PLC128110 having the Registered office address at One India bulls Centre, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. The ABSLI Assured Income Plus Plan with UIN: 109N127V04 is underwritten by Aditya Birla Sun Life Insurance Company Limited. The contract of insurance is between the insurer and the insured and not between the Bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis and is not linked to availment of any other facility from the bank. ISNP registration valid.

For more details on risk factors, terms and conditions, exclusions, please read sales brochure of insurer and policy terms and conditions carefully before concluding a sale. Tax benefits are available as per the prevailing tax laws, which are subject to change.

For any information including cancellation, claims and complaints, please contact our Treasures Relationship Manager or visit DBS Bank India’s nearest branch office or Contact our 24-hour toll free customer service helpline number 1-800-209-4555 / 1-860-267-1234 or our overseas customer service number 91-44-66854555 or write to us at customercareindia@dbs.com. Visit us at: www.dbs.com/in

UIN: 109N127V04

 

How to Apply

Apply now
for Aditya Birla Sun Life Insurance Assured Income Plus Plan
Locate us Visit us at your nearest DBS branch
Call 1860 267 1234 / 1800 209 4555 / +91 44 6685 4555

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