Insurance; Investment & Income | Udyam Regd No. OD-04-0000085; T.L.NO. 043513 | IRDA Regd No. 01311156, RLH20544890, ILG46887, ACH923, E802673
PLAN OPTION 1 - FIXED INCOME PROTECTION
Mr. Bhatt, 35 years old non - smoker, brought Income Suraksha Plan. He chooses Plan Option 1 - Fixed Income Protection for a monthly income of Rs. 1,00,000.
He chooses a Policy Term of 30 years and Premium Payment Term of 30 years.
Unfortunately, he dies during the 15th Policy year.
His Nominee is paid monthly income of Rs. 1,00,000 every month during Income Payout Period. The same is illustrated below:
PLAN OPTION 2 - INCREASING INCOME PROTECTION
Mr. Kapoor, 35 years old non- smoker, who opts for ABSLI Income Suraksha Plan – Increasing Income Protection for a monthly income of Rs. 1,00,000.
He chooses a Policy Term of 30 years, Premium Payment Term of 30 years.
Unfortunately, he dies during the 5th Policy year.
His Nominee is paid a monthly income which will start from Rs. 1,21,550 and will increase at 5% p.a., compounded annually until it exceeds 1.5 times the Monthly Income chosen at inception.
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Term insurance is a straightforward and affordable life insurance product designed to provide financial security to your family in the event of your untimely demise. It offers a high sum assured at a low premium, ensuring that your loved ones are protected from financial hardships. The policyholder pays regular premiums, and in case of death during the policy term, the nominee receives the sum assured. Term insurance is ideal for individuals who want pure life coverage without any investment component.
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