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Aditya Birla Sun Life Insurance Monthly Income Plan

Overview

Aditya Birla Sun Life Insurance Monthly Income Plan fulfills your need to plan ahead of time for your family’s growing needs in the present while providing for their future. This product has been designed as a non-linked participating life insurance plan, providing regular monthly income until maturity to meet your financial requirements and thereby providing the best for your family, today as well as in the years to come.

 

Benefits

  • Comprehensive financial protection for your family depending on your choice of Sum Assured
  • Monthly Income Benefit to take care of your recurring needs
  • Option to postpone your monthly incomes by choosing a Deferment Period to suit your requirements.
  • Choice of Level and Increasing Income Benefit Options to suit your needs
  • Inbuilt Accidental Death Benefit
  • Option to increase your protection through Riders
  • Bonuses to augment your savings.

Illustration

Age Gender Basic sum
Assured
Policy
Term
Premium Paying
Term
Income Benefit Premium Paid
(P.A)
MaturityBenefit
              4% 8%
35 Male 48,50,000 20 10 10 5,04,416 Nill 40,81,308

The above values are illustrative and for a healthy male. The assumed rates of return 4% and 8% are not guaranteed and they are not the upper or lower limits of what one might get back as the value of the policy is dependent on a number of factors including future investment performance. The maturity benefit at 4% is nil. The premium is calculated without GST.

Details

Entry age 18 years - 55 years (For Premium Paying Term of 10 years)
18 years - 53 years (For Premium Paying Term of 12 years)
(subject to maximum maturity age of 80 years)
Policy Term Minimum - 20 years
Maximum - 37 years
Policy Term = Premium Payment Term + Deferment Period + Income Benefit Period
Minimum Basic Sum Assured (BSA) Rs. 4,00,000 - for entry ages between 51 to 55 years the minimum Sum Assured will be Rs. 6,00,000
Deferment Period Deferment Period shall starts after the completion of PPT 0 | 5 | 10 years
Income Benefit Period (IBP) Income Benefit Period shall start after the completion of Deferment Period
10 | 15 | 20 years
Income Benefit Option Level | Increasing
Death Benefit In the event of death of the life insured before the commencement of Income Benefit Period the death
Benefit will be the highest of:
  1. 10 times the annualised premium Or
  2. Maturity of sum Assured Or
  3. Sum Assured + total Income Benefit
Maturity Benefit If Life Insured Survived:
Attached bonuses accrued till maturity date: Plus
Terminal bonus (if any)
Customisable Benefit For added protection:
ABSLI Waiver of Premium Rider (UIN: 109B017V02)
ABSLI Critical Illness Rider (UIN: 109B017V02)
Reduced Paid-up (RPU) Benefits
Maximum Maturity Age 55 years of age
Pay Term 10 & 12 years
Premium Frequency Monthly, Quarterly, Semi-Annual, Annual

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

ABSLI Monthly Income Plan UIN No: 109N122V01

 

Disclaimers

Lakshmi Vilas Bank Ltd. is a corporate agent of Aditya Birla Sun Life Insurance Company Limited under license number CA0047.
Registered Address: Lakshmi Vilas Bank Ltd. Corporate Office, LVB House, No. 4/1 (Old no. 33), Sardar Patel Road, Guindy,
Chennai – 600 032. Tamil Nadu. Participation by the Bank’s clients in the insurance products is purely on a voluntary basis.
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a participating non-linked life insurance plan. All terms & conditions are guaranteed throughout the policy term, except for the bonuses which would be declared at the end of each financial year. Goods and Service Tax (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 sub-standard lives, smokers or people having hazardous occupations etc. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. Tax benefits are subject to changes in the tax laws. 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. Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Reg. Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841 Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI Reg. No. 109 CIN: U99999MH2000PLC1281100 www.adityabirlasunlifeinsurance.com 18002707000 UIN No: 109N122V01 ADV/7/19-20/xxxx

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