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HomeArticlesWhat is the meaning of income benefit in life insurance?

What is the meaning of income benefit in life insurance?

March 15, 2021
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Before you buy a life insurance plan, you'll no doubt do a bit of research to find out how a life cover can benefit you, isn't it? Among the upsides of life insurance, you'll find many features that can truly give you a financial advantage.

Like a safety net for your future. Or the added coverage from riders. Or even the tax benefits that every life insurance plan offers.

Aside from these, there are also some specific benefits that certain types of life insurance policies can give you. Like the income benefit. Wondering what that is? Well, let's decode this aspect of life insurance today.

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ABSLI Nishchit Aayush Plan

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Guaranteed# income

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Life cover across policy

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Lumpsum Benefit at policy maturity, in addition to Income

Get :
₹33.74 lakhs~

Pay: ₹10K/month for 10 years

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CALCULATE PREMIUMMM

1 Provided all due premiums are paid ABSLI Nishchit Aayush Plan. This is a non-linked non-participating individual savings life insurance plan. UIN No 109N137V06 ^ - Provided 0 year deferment & monthly income frequency is chosen at the time of inception of the policy. ~ Male- 25 yrs invests in ABSLI Nishchit Aayush Plan with Level Income + Lumpsum Benefit. He chooses premium payment term 10 yrs , policy term 40 years, benefit option -Long Term Income, Sum Assured 7 times of Annualized Premium and Deferment Period 0 years. Annualized Premium is ₹1,20,000 (Exclusive of GST.). Annual Income of ₹45,900 (45,900*40=18,36,000) + Maturity Benefit (₹16,80,000)= ₹35,16,000 ADV/11/21-22/1498

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