ABSLI Guaranteed Annuity Plus

PROTECTING your lifestyle in your retirement years the way you want it.

Aditya Birla Sun Life Insurance Guaranteed Annuity Plus provides guaranteed income for life which enables you to enjoy a dream retirement life.

Key Features

  • Guaranteed Lifelong income with a choice of multiple annuity options
  • Option to receive annuity payments as long as You or Your partner are alive
  • Deferred Annuity option to build regular income stream for future with deferment period up-to 15 years

  • Option to increase annuity through Top-up option

Plan Options

  • Option 1: Life Annuity (Level/Increasing at 3%/Increasing at 5%):

    Option to receive level or increasing annuity, depending upon your need.

  • Medical test

    None required to get the policy

  • Income

    Option 1: Life Annuity (Level/Increasing at 3%/Increasing at 5%)

    Single Life

    Joint Life

    Annuity is payable as long as the Annuitant is alive. The Annuitant has the option to choose level or increasing Annuity.

    • Level annuity: - Annuity amount will remain constant throughout the policy term.
    • Increasing annuity:- Annuity shall increase at a simple rate of 3% p.a. or 5% p.a. at each policy anniversary as per chosen annuity escalation rate.

    Annuity is payable as long as either of the Primary or Secondary Annuitant is alive. The Annuitant has the option to choose level or increasing Annuity.

    • Level annuity: - Annuity amount will remain constant throughout the policy term.
    • Increasing annuity:- Annuity shall increase at a simple rate of 3% p.a. or 5% p.a. at each policy anniversary as per chosen annuity escalation rate.

     

     

     

     

     

     

     

    Option 2: Annuity Certain for a specified period and thereafter for Life (certain period of 5 years,10 years,15 years or 20 years)

    Single Life

    The Annuity is guaranteed during the Annuity Certain Period chosen by the Annuitant, and thereafter the Annuity shall continue as long as the Annuitant is alive.

     

     

     

    Option 3: Life Annuity with Return of Balance of Purchase Price (Level/Increasing at 3%/Increasing at 5%)

    Single Life

    Annuity is payable as long as the Annuitant is alive. The Annuitant has the option to choose level or increasing Annuity.

    • Level annuity: - Annuity amount will remain constant throughout the policy term.
    • Increasing annuity:- Annuity shall increase at a simple rate of 3%p.a. or 5% p.a. at each policy anniversary as per chosen annuity escalation rate.

     

     

     

     

    Option 4: Life Annuity with 50% Annuity payable to Secondary Annuitant on death of Primary Annuitant.

    Joint Life

    • If Primary Annuitant predeceases the Secondary Annuitant, 50% of Annuity shall be payable for as long as the Secondary Annuitant is alive.
    • If the Secondary Annuitant predeceases the Primary Annuitant, 100% of Annuity shall continue to be payable for as long as the Primary Annuitant is alive.

     

     

     

     

      Option 5: Life Annuity with Return of Purchase Price (100% ROP /75% ROP /50% ROP)

    Single Life

    Joint Life

    Annuity is payable as long as the Annuitant is alive.

    Annuity is payable as long as either Primary or Secondary Annuitant is alive.

     

     

     

     

        Option 6: Life Annuity with enhanced Annuity on Critical Illness/ Accidental Permanent Disability and with Return of Purchase Price

     

    Single Life

    Annuity is payable for as long as the Annuitant is alive

     

     

     

     Option 7: Life Annuity with ROP on attainment of Age 80 years

     

    Single Life

    Annuity shall be payable as long as the Annuitant is alive.

    On survival of the Annuitant on the policy anniversary falling after the attained age of 80 years, a lump-sum amount equal to the Purchase Price shall be payable to the Annuitant. The Annuity will continue even after the return of Purchase Price till survival of the Annuitant.

     

     

     

       

     

     

    Option 8: Life Annuity with Partial Return of Purchase Price to survivor and balance to nominee.

     

    Joint Life

    Annuity is payable as long as either of the Primary or the Secondary Annuitant is alive.

     

     

     

     

     

        Option 9: Deferred Life Annuity with Return of Purchase Price

     

    Single Life

    Joint Life

    Annuity is payable after the end of the Deferment Period, as long as the Annuitant is alive.

    Annuity is payable after the end of the Deferment Period, as long as either of the Primary or the Secondary Annuitant is alive.

     

     

       

     

     

     

     

    Option 10: NPS – Family Income

    Under this option, the annuity benefit would be payable in accordance with the regulations as prescribed by Pension Fund Regulatory and Development Authority (PFRDA) from time to time. Any change in the product due to changes in the regulations prescribed by PFRDA shall be subject to prior IRDAI approval. As per prevailing regulations, the Annuity benefit will be payable for life of the subscriber and his/her spouse (if any) as per the Annuity option “Life Annuity with Return of Purchase Price”(Single Life/ Joint Life whichever applicable).The RoP Percentage applicable for this option will be 100% of Purchase Price

  • Income

    Option 1: Life Annuity (Level/Increasing at 3%/Increasing at 5%)

    Single Life

    Joint Life

    Annuity is payable as long as the Annuitant is alive. The Annuitant has the option to choose level or increasing Annuity.

    • Level annuity: - Annuity amount will remain constant throughout the policy term.
    • Increasing annuity:- Annuity shall increase at a simple rate of 3% p.a. or 5% p.a. at each policy anniversary as per chosen annuity escalation rate.

    Annuity is payable as long as either of the Primary or Secondary Annuitant is alive. The Annuitant has the option to choose level or increasing Annuity.

    • Level annuity: - Annuity amount will remain constant throughout the policy term.
    • Increasing annuity:- Annuity shall increase at a simple rate of 3% p.a. or 5% p.a. at each policy anniversary as per chosen annuity escalation rate.

     

     

     

     

     

     

     

    Option 2: Annuity Certain for a specified period and thereafter for Life (certain period of 5 years,10 years,15 years or 20 years)

    Single Life

    The Annuity is guaranteed during the Annuity Certain Period chosen by the Annuitant, and thereafter the Annuity shall continue as long as the Annuitant is alive.

     

     

     

    Option 3: Life Annuity with Return of Balance of Purchase Price (Level/Increasing at 3%/Increasing at 5%)

    Single Life

    Annuity is payable as long as the Annuitant is alive. The Annuitant has the option to choose level or increasing Annuity.

    • Level annuity: - Annuity amount will remain constant throughout the policy term.
    • Increasing annuity:- Annuity shall increase at a simple rate of 3%p.a. or 5% p.a. at each policy anniversary as per chosen annuity escalation rate.

     

     

     

     

    Option 4: Life Annuity with 50% Annuity payable to Secondary Annuitant on death of Primary Annuitant.

    Joint Life

    • If Primary Annuitant predeceases the Secondary Annuitant, 50% of Annuity shall be payable for as long as the Secondary Annuitant is alive.
    • If the Secondary Annuitant predeceases the Primary Annuitant, 100% of Annuity shall continue to be payable for as long as the Primary Annuitant is alive.

     

     

     

     

      Option 5: Life Annuity with Return of Purchase Price (100% ROP /75% ROP /50% ROP)

    Single Life

    Joint Life

    Annuity is payable as long as the Annuitant is alive.

    Annuity is payable as long as either Primary or Secondary Annuitant is alive.

     

     

     

     

        Option 6: Life Annuity with enhanced Annuity on Critical Illness/ Accidental Permanent Disability and with Return of Purchase Price

     

    Single Life

    Annuity is payable for as long as the Annuitant is alive

     

     

     

     Option 7: Life Annuity with ROP on attainment of Age 80 years

     

    Single Life

    Annuity shall be payable as long as the Annuitant is alive.

    On survival of the Annuitant on the policy anniversary falling after the attained age of 80 years, a lump-sum amount equal to the Purchase Price shall be payable to the Annuitant. The Annuity will continue even after the return of Purchase Price till survival of the Annuitant.

     

     

     

       

     

     

    Option 8: Life Annuity with Partial Return of Purchase Price to survivor and balance to nominee.

     

    Joint Life

    Annuity is payable as long as either of the Primary or the Secondary Annuitant is alive.

     

     

     

     

     

        Option 9: Deferred Life Annuity with Return of Purchase Price

     

    Single Life

    Joint Life

    Annuity is payable after the end of the Deferment Period, as long as the Annuitant is alive.

    Annuity is payable after the end of the Deferment Period, as long as either of the Primary or the Secondary Annuitant is alive.

     

     

       

     

     

     

     

    Option 10: NPS – Family Income

    Under this option, the annuity benefit would be payable in accordance with the regulations as prescribed by Pension Fund Regulatory and Development Authority (PFRDA) from time to time. Any change in the product due to changes in the regulations prescribed by PFRDA shall be subject to prior IRDAI approval. As per prevailing regulations, the Annuity benefit will be payable for life of the subscriber and his/her spouse (if any) as per the Annuity option “Life Annuity with Return of Purchase Price”(Single Life/ Joint Life whichever applicable).The RoP Percentage applicable for this option will be 100% of Purchase Price

  • Coverage

    All Individuals (Male | Female | Transgender)

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Frequently Asked Questions

  • What is so special about this plan?

    ABSLI Immediate Annuity Plan keeps your savings aside and gives you a regular income in your retirement years, so you can enjoy a happy and relaxed second innings. The special features are:

    • Guaranteed regular income for retired life
    • Choose between multiple payout options
    • No medical tests

    1Provided all due premiums are paid

  • Till what age will I keep receiving a regular income?

    It is a regular income plan and you will get income for all your retired life.

  • Why should I buy this policy?

    This immediate annuity plan has the following benefits thus, telling you why you need this plan:

    • Guaranteed1 income for your entire retired life
    • Flexibility to choose from 6 different payout options to receive your annuity
    • Plan to have monthly, quarterly, semi-annual or annual payouts as per your need
    • No medical test required to get the policy
    • Tax benefits under Section 80CCC2

    1Provided all due premiums are paid

    2Tax benefits are subject to changes in tax laws. Please consult your tax advisor for more details.

  • How do I purchase this plan offline?

    You can call any ABSLI Advisor to buy this plan offline or reach out to your nearest ABSLI branch/office.

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Disclaimer

This Policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a Non-Linked, Non-Participating, Single Premium General Annuity Plan

All terms & conditions are guaranteed throughout the Policy Term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. For further details please refer to the Policy contract. 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. Registered Office: One World Centre, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg Elphinstone Road, Mumbai - 400013. Call Centre: 1-800-270-7000 www.adityabirlasunlifeinsurance.com Reg. No. 109 | CIN: U99999MH2000PLC128110 UIN: 109N132V01

ADV/7/21-22/592

Need help with life insurance?

+91
I agree to the Terms of Usage and Privacy Policy and authorize Aditya Birla Sun Life Insurance Company Limited and its associates to call/SMS/Email/WhatsApp me.

Thank you for your details. We will reach out to you shortly.

1800-270-7000 or reach out to us on this number.

Thank you for your details. Currently we are facing issue in our system.

1800-270-7000 or reach out to us on this number.