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ABSLI Vision LifeIncome Plan
A traditional participating whole life insurance plan

In today's world, we try to plan for all of life's important stages and milestones keeping in mind our growing responsibilities. And, to supplement these efforts, we sometimes wish for an extra source of regular income. Introducing the Aditya Birla Sun Life Insurance Vision LifeIncome Plan, a traditional participating whole life plan that helps you to not only plan your financial goals but also realise your dreams by providing you with a steady income and whole life cover. With survival benefits payable every year from the end of the premium paying term till maturity and a life insurance benefit, this plan offers a perfect blend of income and financial protection for you and your family.

How does the plan work?

  • STEP 1: Choose your Sum Assured
  • STEP 2: Choose your pay mode
  • STEP 3: Choose your riders

Salient features of the plan

  • 5% of the Sum Assured guaranteed plus bonus every year after premium paying term
  • Comprehensive financial protection for your family with whole life covers till age 100
  • Premium rebates on high Sum Assured, Annual and Semi-annual modes of payment and ECS method of payment
  • Access to suitable Rider options for added protection, at a nominal extra cost
  • Tax benefits under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 1961(1)

(1)Tax benefits are subject to changes in the tax law, please consult your tax advisor for more details.
In the event the life insured survives to the end of the premium paying term, the policy holder will receive accrued bonuses till date. If he/she survives to the end of each subsequent policy year, he/she will be paid Income Benefit of 5.0% of Sum Assured plus bonus from current policy year.
In the event the life insured survives to the end of the policy term, the policyholder will receive the Sum Assured and Terminal Bonus (if any).

In the unfortunate event of the death of the life insured during the premium paying term, we shall pay to the nominee

  • Highest of, Sum Assured or 10 times of the annualised premium or 105% of total

premiums paid to date(1); plus

  • Accrued bonuses as of date of death(2); plus
  • Terminal bonus (if any)

In the event the life insured dies after the premium paying term, we shall pay to the nominee

  • Highest of, Sum Assured or 10 times of the annualised premium or 105% of total

premiums paid to date(1); plus

  • Bonus from the current policy year(3); plus
  • Terminal bonus (if any)

In case where the death of the Life Insured takes place prior to the risk commencement date, only the basic premiums paid to date (excluding GST, if any ) shall be payable as the Death Benefit.

In case of death of the life insured, if the life insured is different from the policyholder, the policyholder will receive the death benefit.

The policy shall be terminated once the death or maturity benefit is paid and no other benefit shall be payable thereafter.

(1) 105% of total premiums paid to date (excluding any applicable rider premium and/or underwriting extras)
(2) Refer to bonus section
(3) Any bonuses previously paid are excluded

To enhance protection, ABSLI Vision LifeIncome Plan offers the following riders at a nominal extra cost.

  • ABSLI Accidental Death and Disability Rider (UIN: 109B018V03)
  • ABSLI Critical Illness Rider (UIN: 109B019V03)
  • ABSLI Surgical Care Rider (UIN: 109B015V03)
  • ABSLI Hospital Care Rider (UIN: 109B016V03)
  • ABSLI Waiver of Premium Rider (UIN: 109B017V02)
  • ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V01)

Please refer to the brochure on riders. You may consult your financial advisor or visit our website for further details.

As per extant tax laws, this plan offers tax benefits under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 1961, subject to fulfilment of the other conditions of the respective sections prescribed therein.

Tax benefits are subject to changes in the tax laws, you are advised to consult your tax advisor for details.

For more details on the above mentioned benefits, please refer to the product brochure.

Please click here to Download product brochure
Please click here to download policy contract
Please click here for Latest Bonus Rates
Disclaimer

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a traditional participating endowment plan. All terms and conditions are guaranteed throughout the policy term, except for the bonuses which would be declared at the end of each financial year. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations, etc.Tax benefits are subject to changes in the tax laws.You are advised to consult your tax advisor for details. The regular bonus rate declared by ABSLI may va from year to year and will depend on the actual experience regarding various factors and the prevailing economic conditions. Future bonuses are however not guaranteed and will depend upon the future profits of the participating business. ABSLI will declare simple reversionary bonuses regularly at the end of each financial year and those will be accrued in the policy on its policy anniversa, surrender or on death. For further details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sales. For more details and clarification, call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true. Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Registered Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841 Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI reg no.109 CIN: U99999MH2000PLC128110 ADV/3/17-18/1931 VER1/MAR/2018

UIN: 109N079V04