Aditya Birla Capital Life (ABCL) Life Insurance Subsidiary Aditya Birla Sun Life Insurance (ABSLI) has offered a new scheme ABSLI Assured Income Plus. Under this scheme, there is a guarantee of ensuring the monthly income of the individual and his family. Financial protection up to 30 years can be ensured under this scheme. It is a non-linked, non-participating individual saving plan under which the insured can buy the policy according to his needs.
Two options are available in the policy
The scheme has been launched with two benefit options. Under this scheme, if only the income option has been selected, a fixed income can be ensured at regular intervals through it. Apart from this, there is another option in which there is an option of premium return along with income benefit. Under this second option, apart from monthly income, funds can also be prepared for future contingencies. Under the plan, risk coverage can also be increased at a nominal cost.
Option to take nominee in income installment
There are three options for paying premiums under the scheme; 6 years, 8 years and 12 years. This means how long the premium has to be paid. The insured will get the option to avail income annually, half-yearly, quarterly or monthly and this benefit will be available for 20, 25 or 30 years according to the insurance. In case of accidental death of the insured during the policy period, the sum assured will be payable to the nominee. However, there will also be an option before the nominee that he can take this amount as annual or monthly installments for 10 years.
Some special things about the plan
Age at entry: – 11 years of age for a policy term of 7 years
– 9 years of age for a policy term of 9 years
5 years of age for a policy term of 13 years
Premium Term: 6 years, 8 years and 12 years
Minimum Premium: 50 thousand rupees
Minimum Sum Assured: 5.5 lakh rupees
Avail Interval: Yearly, half-yearly, quarterly and monthly
Benefit payout period: It starts after the expiry of the policy term (one year after the premium payment term). This policy is selected at the time of purchase and cannot be changed later.
– It is for 20, 25 and 30 years for a 6 year premium payment term.
– It is for 20, 25 and 30 years for 8 years premium payment term.
– For a premium payment term of 12 years, it is for 20 and 25 years.
Source: www.financialexpress.com
