ABSLI - Guaranteed Annuity Plus

Aditya Birla Sun Life Insurance Guaranteed Annuity Plus

At a GlanceRetirement means different things to different people, while some want to take a trip around the world, some want to pursue their hobbies or pursue a dream harnessed for years. Your retirement years are your golden years and a well planned retirement can allow You to pursue what You love the most without worrying about rising prices, increasing health care costs, higher life expectancy etc. There should not be any hindrance for enjoying Your current lifestyle, even after You retire.Financial independence comes from regular steady source of income which will enable You to enjoy Your dream retirement life.

Key Features1.Guaranteed* lifelong income: Annuity once purchased is guaranteed* for life.2.Option to receive annuity payments as long as You or Your partner are alive – You have the option to choose a single life or a joint life annuity. 3.Retirement planning made easier - You can opt to invest today to build a guaranteed lifetime income stream for tomorrow. With the deferred annuity option, You have the choice to plan early for Your retirement and lock annuity rates at present for a guaranteed life-long payment.4.Wide range of annuity options: Choose from various annuity options to suit your financial needs.5.Wide range of accumulation periods: Choose the accumulation period ranging from 5 years to 15 years, depending upon your needs and requirements under Limited Pay Option. 6.Option to increase your annuity: You can increase your annuity through Top-up option.7.Choice of annuity pay-out frequency: You may choose to receive annuity pay-outs monthly, quarterly, half-yearly or yearly as per your need and requirement.* Provided all due premiums are paid

Key BenefitsSurvival BenefitAnnuity is payable as long as the annuitant is alive in Single Life/Joint Life Plan. Annuitant can choose level or increasing option. Read the policy brochure for detailed benefits.Death BenefitOn death of the annuitant the annuity will be paid to the nominee, till the end of the annuity certain period, depending on the plan option. Read the policy brochure for detailed benefits.Surrender BenefitThe amount of annuity received when you surrender the policy before the end of policy term. The benefit is not applicable under Option1, Option 2, Option 3 and Option 4. However, the benefit under different plans varies depending on the option selected. Read the policy brochure for detailed benefits.

Eligibility

Product Specifications

Type of Plan

A non-linked, non-participating, general annuity plan

Coverage

All Individuals (Male | Female | Transgender)

Age of the Annuitant(s) at Entry (age as on last birthday)*

Parameters

Minimum*

Maximum*

Immediate Annuity

40 years

For option 6 and 7: 65 years

For all other options: 90 years

Deferred Annuity

40years

75 years

*In case of Joint life annuities the age limits apply to both lives.

Please Note: A minimum entry age of 0 years, for all Annuity Options except Annuity Option 6, and maximum entry age of 100 years, only for Annuity Option 5 and option 10), will be allowed provided the proceeds are arising out of:

1. NPS corpus

2. ABSLI Pension product

3. Pension product from any other Insurer

4. Superannuation schemes or other schemes, where compulsory purchase of an annuity is required

Qualifying Recognized Overseas Pension Scheme (QROPS), as per prevailing Her Majesty’s Revenue & Customs (HMRC) regulations)

As per the prevailing Her Majesty’s Revenue & Customs (HMRC) regulations, existing QROPS policyholders may buy non-QROPS policy, but the minimum vesting age of the Life Insured cannot be less than 55 (Fifty-Five) years. Further, an existing non-QROPS policyholder shall not be allowed to purchase a QROPS Policy unless s/he modifies Vesting age to 55 (Fifty-Five) years.

Maturity Age (age as on last birthday)

Not Applicable

Minimum Group Size (For Group Policies)

5 members

Maximum Group Size (For Group Policies)

No Limit

Vesting age & Deferment Period

Deferment Period means the period from Date of Commencement of Risk till the policy anniversary preceding the date on which the first Annuity payment is made to the Annuitant as per Deferred Annuity option.

Deferment Period is applicable only for Deferred Annuity variants and not for Immediate Annuity variants. Deferment Period cannot be changed during the term of the policy.

Years	Minimum	Maximum
Deferment period (Single Pay)	1 year	15 years subject to Maximum Vesting age
Deferment Period (Limited Pay)	Chosen PPT	15 years subject to Maximum Vesting age
Vesting age	41 years	90 years

Example: If the Annuity is purchased on 24^th March 2021, then, in case of Deferment period of 10 years and monthly frequency of payment, the first pay-out will be made on 24^thApril 2031. In case of annual frequency of pay-out, the first pay-out will be made on 24^th March 2032.

The minimum vesting age in case of policies sourced under QROPS is 55 years, as per prevailing (Her Majesty’s Revenue & Customs (HMRC) regulations)

Premium Payment Term (PPT)

Single Pay/ Limited Pay (5 – 10 Years)

Policy Term (PT)

Whole Life

Annuity Pay-out Frequency

The annuity payout frequencies available are : Yearly, Half- Yearly, Quarterly, Monthly.

The annuity will be payable in arrears as per the chosen annuity payment frequency from the date of purchase of the plan. Annuity instalments shall be as specified below.

Frequency of Annuity	Annuity Amount payable
Yearly	Annual Annuity
Half yearly	98%*Annual Annuity/2
Quarterly	97%*Annual Annuity/4
Monthly	96%*Annual Annuity/12

Note - For Government sector subscribers under National Pension System (NPS), monthly frequency is mandatory.The same is subject to change and will be as per the extant PFRDA regulations

Minimum Annuity Amount

Rs. 1,000 per month, Rs. 3,000 per quarter, Rs. 6,000 per half year and Rs. 12,000 per year.

Maximum Annuity Amount

No Limit (subject to Board Approved Underwriting Policy)

Minimum Premium/Purchase Price

RRs. 1,50,000 for Single Pay

Depends on the minimum Annuity amount for Limited Pay

Maximum Premium/Purchase Price

No Limit

Premium Payment Frequency and Frequency Loadings

Mode	Annual	Semi-annual	Quarterly	Monthly
Modal Loading	0.0%	3.5%	5.0%	6.0%

DisclaimerDBS Bank India Limited (IRDA of India Registration Number: CA 0257) having the registered office at GF: Nos. 11 & 12, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Corporate Agent of Aditya Birla Sun Life Insurance Company Limited. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. The Insurance product is underwritten by Aditya Birla Sun Life Insurance Company Limited. The contract of insurance is between the insurer and the insured and not between the Bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis and is not linked to availment of any other facility from the bank. “The Trade Logo “Aditya Birla Capital” Displayed Above Is Owned By ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) And Used By ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the License.” A Non-Linked, Non-Participating, General Annuity Plan. This Policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). GST and any other applicable taxes will be added (extra) to your premium/purchase price and levied as per extant tax laws. All the benefits are payable subject to the terms and conditions of the Policy. This product shall also be available for sales through online channel. All policy benefits are subject to policy being in force. “We”, “Us”, “Our” or “the Company” or “ABSLI” means Aditya Birla Sun Life Insurance Company Limited. “You” or “Your” means the Policyholder. For other terms and conditions, request your Agent Advisor or intermediaries to give a detailed presentation of the product before concluding the sale. Should you need any further information from us, please contact us on the below mentioned address and numbers. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding the sale. Aditya Birla Sun Life Insurance Company Limited. Registered Office: One World Center, Tower 1, 16th Floor, Jupiter Mill Compound, 841 Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI Reg No.109 Call Centre: 1-800-270-7000 https://lifeinsurance.adityabirlacapital.com IRDAI Reg No.109 |CIN: U99999MH2000PLC128110 UIN: 109N132V17

ADV/10/25-26/1138BEWARE OF SPURIOUS / FRAUD PHONE CALLS! IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.Please click here to unsubscribe

How to Apply

Locate us Visit us at your nearest DBS branch

Call 1860 267 1234 / 1800 209 4555 / +91 44 6685 4555

Aditya Birla Sun Life Insurance Guaranteed Annuity Plus

NRI Banking

Resident Indian Account

Need Help?

Others

Countries and regions