Life Insurance - Income Shield Plan

All You Need To Know

Plan Options

Choose from 4 varied plan options to protect your loved ones in case of death

Option 1

On death, the nominee will be paid a level monthly income during the Income Benefit Term.

Option 2

On death, the nominee will be paid a monthly income increasing at 5% p.a. (simple) during the Income Benefit Term.

Option 3

3 On death, the nominee will be paid a level monthly income during the Income Benefit Term. Additionally, on diagnosis of a Critical Illness^ or diagnosis of Total Permanent Disability^ whichever is earlier, the future premiums will be waived off and the policy will continue till the end of policy term.

Plan option once selected cannot be changed during the policy term.

^#Monthly Income is 1.25% of the chosen Sum Assured

^Please refer to the product brochure for more details.

Option 4

On death, the nominee will be paid a monthly income increasing at 5% p.a.(simple) during the Income Benefit Term. Additionally, on diagnosis of a Critical Illness^ or diagnosis of Total Permanent Disability^ whichever is earlier, the future premiums will be waived off and the policy will continue till the end of policy term.

Death Benefit

In the event of death of the life insured during the policy term, monthly income depending on the chosen plan option will be paid to the nominee over the Income Benefit Term. The first payout will be made on the acceptance of the death claim and subsequent monthly payouts will be made on each policy month anniversary throughout the Income Benefit Term.

The monthly income benefit payable on death is equal to 1.25% of the Sum Assured. The total monthly income payable on death over the Income Benefit Term will be the assured benefit to be paid on death under this plan.

The Sum Assured on Death is the highest of:

10 times of the annualised premium for all ages; or

105% of the total premiums paid up to the date of death; or

Maturity Sum Assured; or

Assured benefit to be paid on death.

The maturity sum assured is nil under this plan.

Special features

Eva benefit for women -- freedom from paying premiums for a year in case the life insured delivers a baby during the policy term

Flexible premium paying terms & income benefit term

Enhance your insurance with appropriate rider option
Accidental Death Benefit Rider Plus (UIN:109B023V01)

Important Information

Commission Related Information

ABSLI Income Shield Plan

All You Need To Know

Plan Options

Death Benefit

Special features

Important Information

Manage Your Insurance

Tools & Calculators

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