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  • As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on +44 7831 065557 or visit the nearest Metra Trust branch for further queries.

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ABSLI Assured Income Plus - Eligibility

Product Specifications
Type of Plan A Non-Linked Non-Participating Individual Savings Life Insurance Plan
Coverage All Individuals (Male | Female | Transgender)
Age of the Life Insured at Entry (age as on last birthday) Minimum 1* year (subject to minimum maturity age of 18 years)

* In case the Life Insured is a minor, the Policy will automatically vest once the life insured attains the age of majority. The risk coverage for the minors will start from the Date of Commencement of Risk.
Maximum 60 years
Maturity Age of the Life Insured (age as on last birthday) Minimum 18 years
Maximum 77 years
Premium payment term (PPT), Policy term (PT) and Benefit payout period
Premium payment term Policy term Benefit payout period^
5 years 5 | 6 | 7 | 8 | 9 | 10 years 20, 25, 30 years
6 years 6 | 7 | 8 | 9 | 10 | 11 years 20, 25, 30 years
8 years 8 | 9 | 10 | 11 | 12 | 13 years 20, 25, 30 years
10 years 10 | 11 | 12 | 13 | 14 | 15 years 20, 25, 30 years
12 years 12 | 13 | 14 | 15 | 16 | 17 years 20, 25 years

^The Benefit payout period commences after the end of the policy term, during which the Survival Benefit is payable to the Policyholder. It is chosen at Policy inception and cannot be changed thereafter.
Minimum Annualized Premium Rs. 50,000
Maximum Annualized Premium No Limit (subject to Board Approved Underwriting Policy)
Premium Payment Modes and Modal Factors Annual | Semi-Annual | Quarterly | Monthly

Mode Annual Semi-annual Quarterly Monthly
Modal Factors 0.0% 1.0% 1.5% 3.5%
Minimum Sum Assured Rs. 5,50,000
Maximum Sum Assured Subject to Board Approved Underwriting Policy
Benefit Options The Policyholder at Policy inception can choose from the following two options:

  1. Income Only Benefit
  2. Income with Lumpsum Benefit The Benefit Option is chosen at inception and cannot be changed thereafter
Benefit Payout Frequency The Benefit Payout Frequencies available are Annual, Semi-Annual, Quarterly, Monthly

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