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ABSLI Vision Star Plan

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Aditya Birla Sun Life Insurance Vision Star Plan is a life insurance plan which is designed to provide for important milestones so that nothing can stop your child’s dreams from turning into reality.

Download the Product Brochure from here for more details

Key features:

  • Waiver of premium in case of death of the life insured
  • Flexibility to choose your Sum Assured
  • Flexibility to choose between two Assured Payout Options to suit your requirements
  • Growth of savings- Enhanced savings by accrued bonuses starting from the first policy year which continue to accrue till maturity
  • Tax Benefits as per Section 80D of the Income Tax Act, 1961 as per current tax laws. Tax benefits are subject to changes in tax laws.

Vision Star Plan at a glance

Entry Age (age last birthday) 18 to 55 years
Max Maturity Age 75 years
Minimum Policy Term For Option A - 16 years (maximum of 23 years)
For Option B - 14 years (maximum of 21 years)
Premium Paying Term 5-12 years
Minimum Sum Assured ₹ 1,00,000
Premium Frequency Annual | Semi-annual | Quarterly | Monthly

Regular Bonuses:

You are eligible to receive a bonus on your policy anniversary once we declare a simple reversionary bonus at the end of each financial year. Future bonuses are however not guaranteed and will depend upon the future profits of the participating business.

Terminal Bonus:

You are also eligible to receive a terminal bonus from us on maturity or surrender, if earlier, based on the actual experience and the prevailing economic conditions.

Death Benefit:

In the unfortunate event of the death of the life insured during the policy term:

  • Sum Assured on Death will be paid to the nominee
  • No premiums are required to be paid in future
  • Assured Payouts on the scheduled dates as explained in the Assured Payout section
  • Bonuses accrued till policy maturity date and terminal bonus, if any, will be payable on the policy maturity date

*Sum Assured on Death is the maximum of Sum Assured chosen at inception, irrespective of any guaranteed Payouts paid or 10 times the annual premium payable. The death benefit will be subject to minimum of 105% of total premiums paid to date excluding GST any applicable rider premiums and underwriting extras, if any.

Assured Payouts:

ABSLI Vision Star Plan offers you the flexibility to choose between two Assured Payout Options to suit your requirements.

  • Option A – 4 biannual payouts of 20% | 20% | 30% | 30% Starting 5 years after the premium paying term is over; there will be an Assured Payout every two years.
  • Option B – 5 annual payouts of 15% | 15% | 20% | 20% | 30% Starting 5 years after the premium paying term is over; there will be an Assured Payout every year

Maturity Benefit:

If the life insured survives, you are eligible to receive the following on the maturity date:

  • Accrued bonuses till date; plus
  • Terminal bonus (If any)

Reduced Paid-up Benefit:

If you discontinue paying premiums after having paid premiums for at least three full years (Two years, for premium paying term less than 10 years), your policy will not lapse but continue on a Reduced Paid-up basis.

A Sample Illustration:

Entry Age : 40 years
Gender : Male
Policy Term : 21 years
Sum Assured : ₹2,50,000
Annual Premium : ₹22,392
Premium Paying Term : 10 years
Plan Option : Option A
Payment Frequency : Biannual
Policy Year End Premiums Paid to Date (in Rs.) Guaranteed Total
Death Benefit (in Rs.) Assured Payout (in Rs.) Death Benefit Maturity Benefit
at 4% p.a. (in Rs.) at 8% p.a. (in Rs.) at 4% p.a. (in Rs.) at 8% p.a. (in Rs.)
1 22,392 2,50,000 - 2,50,000 2,50,000 - -
2 44,785 2,50,000 - 2,50,000 2,50,000 - -
3 67,177 2,50,000 - 2,50,000 2,50,000 - -
4 89,570 2,50,000 - 2,50,000 2,50,000 - -
5 1,11,962 2,50,000 - 2,50,000 2,50,000 - -
6 1,34,355 2,50,000 - 2,50,000 2,50,000 - -
7 1,56,747 2,50,000 - 2,50,000 2,50,000 - -
8 1,79,140 2,50,000 - 2,50,000 2,50,000 - -
9 2,01,532 2,50,000 - 2,50,000 2,50,000 - -
10 2,23,925 2,50,000 - 2,50,000 2,50,000 - -
11 2,23,925 2,50,000 - 2,50,000 2,50,000 - -
12 2,23,925 2,50,000 - 2,50,000 2,50,000 - -
13 2,23,925 2,50,000 - 2,50,000 2,50,000 - -
14 2,23,925 2,50,000 - 2,50,000 2,50,000 - -
15 2,23,925 2,50,000 50,000 2,50,000 2,50,000 - -
16 2,23,925 2,50,000 - 2,50,000 2,50,000 - -
17 2,23,925 2,50,000 50,000 2,50,000 2,50,000 - -
18 2,23,925 2,50,000 - 2,50,000 2,50,000 - -
19 2,23,925 2,50,000 75,000 2,50,000 2,50,000 - -
20 2,23,925 2,50,000 - 2,50,000 2,50,000 - -
21 2,23,925 2,50,000 75,000 2,50,000 2,50,000 42,000 2,41,500

GST will be added your premium and leveled as per the extant tax laws.

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Disclaimer

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a traditional participating life insurance plan. All terms & conditions are guaranteed throughout the policy term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. For more details on risk factors, terms and conditions, please refer to the sales brochure before concluding the sale. Tax benefits are subject to changes in the tax laws. For more details and clarification call your ABSLI Insurance Advisor or visit our website. 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.
CIN:U99999MH2000PLC128110
Registration No. 109
Unique No. 109N096V02
Control Number. ADV/9/18-19/3391

 

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