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ABSLI Assured Income Plus - Eligibility
 

Product Specifications
Type of PlanA Non-Linked Non-Participating Individual Savings Life Insurance Plan
CoverageAll Individuals (Male | Female | Transgender)
Age of the Life Insured at Entry (age as on last birthday)Minimum1* 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.
Maximum60 years
Maturity Age of the Life Insured (age as on last birthday)Minimum18 years
Maximum77 years
Premium payment term (PPT), Policy term (PT) and Benefit payout period
Premium payment termPolicy termBenefit payout period^
5 years5 | 6 | 7 | 8 | 9 | 10 years20, 25, 30 years
6 years6 | 7 | 8 | 9 | 10 | 11 years20, 25, 30 years
8 years8 | 9 | 10 | 11 | 12 | 13 years20, 25, 30 years
10 years10 | 11 | 12 | 13 | 14 | 15 years20, 25, 30 years
12 years12 | 13 | 14 | 15 | 16 | 17 years20, 25 years

^
The 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.
Minimum Annualized PremiumRs. 50,000
Maximum Annualized PremiumNo Limit (subject to Board Approved Underwriting Policy)
Premium Payment Modes and Modal FactorsAnnual | Semi-Annual | Quarterly | Monthly

ModeAnnualSemi-annualQuarterlyMonthly
Modal Factors0.0%1.0%1.5%3.5%
Minimum Sum AssuredRs. 5,50,000
Maximum Sum AssuredSubject to Board Approved Underwriting Policy
Benefit OptionsThe Policyholder at Policy inception can choose from the following two options:

  1. Income Only Benefit
  2. Income with Lumpsum Benefit The Benefit Option is chosen at inception and cannot be changed thereafter
Benefit Payout FrequencyThe Benefit Payout Frequencies available are Annual, Semi-Annual, Quarterly, Monthly