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ABSLI SecurePlus Plan

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Aditya Birla Sun Life Insurance SecurePlus Plan is a non-participating life insurance plan that acts as a backup income plan. It acts as a saviour in times of uncertainties, so you and your family do not have to sacrifice your dreams and aspirations.

Download the Product Brochure from here for more details

Key features:

  • Flexibility to choose the amount you wish to pay every year
  • Flexibility to choose the Income Benefits
  • Inbuilt Accidental Death Benefit
  • Appropriate rider options to enhance your insurance

SecurePlus Plan at a Glance:

Entry Age 5 years - 50 years (age last birthday)
Maximum Maturity Age 63 years (age last birthday)
Policy Term 13 years
Premium Paying Term 12 years
Minimum Premium ₹ 50,000 p.a. for annual mode
₹ 36,000 p.a. for monthly mode
Payment Period • For Income Benefit Option A – 6 years
(from the completion of policy term)
• For Income Benefit Option B – 12 years
(from the completion of policy term)
Sum Assured Sum Assured will be determined based on your entry age and the premium amount you commit to pay in a policy year
Minimum Sum Assured ₹ 5,22,000
Premium Mode Annual | Monthly

Income Benefit:

After the completion of the policy term, you will start receiving Income Benefit payouts at the end of each year during the Payment Period which are fully guaranteed. These payouts are pre defined percentage of the annual premium (excluding GST and cess, any applicable rider premiums and underwriting extras, if any) paid by you. Depending on your perceived need for a increasing or a level payout, you can choose one of the following options at inception to receive the Income Benefit payouts.

Income Benefit Option A

Receive income increasing from 100% to 600% of annual premium at the end of each year as per the table shown below:

Payment Period Year Income Benefit (% of AP)
1 100%
2 200%
3 300%
4 400%
5 500%
6 600%

Income Benefit Option B

Receive income of 200% of annual premium at the end of each year as per the table shown below:

Payment Period Year Income Benefit (% of AP)
1 200%
2 200%
3 200%
4 200%
5 200%
6 200%
7 200%
8 200%
9 200%
10 200%
11 200%
12 200%

In case you would like to get a lump sum instead of the income benefit, a commuted value of the outstanding Income Benefit shall be paid as lump sum. To know the commuted value for your policy you can get in touch with your advisor, or the nearest Branch Office.

Death Benefit:

In case of the unfortunate demise of the life insured during the policy term, the sum assured on death will be paid to the nominee.

A Sample Illustration:

Entry Age : 35 years
Gender : Male
Policy Term : 13 years
Payment Period : 6 years
Sum Assured : 16,00,000
Annual Premium* : 100,000
Premium Paying Term : 12 years
Payment Frequency : Yearly
Incom Benefit Option : Option A
Policy Year End Annual Premium* Premiums Paid to Date Death Benefit Income Benefit
1 100,000 100,000 16,00,000  
2 100,000 200,000 16,00,000  
3 100,000 300,000 16,00,000  
4 100,000 400,000 16,00,000  
5 100,000 500,000 16,00,000  
6 100,000 600,000 16,00,000  
7 100,000 700,000 16,00,000  
8 100,000 800,000 16,00,000  
9 100,000 900,000 16,00,000  
10 100,000 1,000,000 16,00,000  
11 100,000 1,100,000 16,00,000  
12 100,000 1,200,000 16,00,000  
13   1,200,000 16,00,000  
14   - - 100,000
15   - - 200,000
16   - - 300,000
17   - - 400,000
18   - - 500,000
19   - - 600,000

The premium is exclusive of GST and any other applicable taxes. All applicable taxes will be additionally included to your premium and levied as per extant tax laws.

Accidental Death Benefit:

ABSLI pays an additional Sum Assured to the nominee as an Accidental Death Benefit in the unfortunate event of the policy holder's demise in an accident, during the policy term. The minor nominee is paid this benefit after attaining the age of 18 years. The maximum limit of this payment is ₹ 1 crore.

Maturity Benefit:

On maturity date, you can choose to receive the commuted value of the Income Benefit as a lumpsum. The commuted value currently shall be calculated using a discounting rate of 9.00% per annum. This discounting rate is not guaranteed and is subject to change in future with prior IRDAI approval. Once the maturity benefit is paid, the policy shall be terminated. No Income Benefit shall be payable thereafter.

Reduced Paid Up Benefit:

If you discontinue paying premiums after having paid premiums for at least three full years, your policy will not lapse but continue on a Reduced Paid-Up basis. Under Reduced Paid-Up, Sum Assured on Death, Maturity Sum Assured, Accidental Death Benefit, Income Benefit and additional benefit on death (applicable on minor lives) shall be reduced in proportion to the premiums actually paid to the total premiums payable during the policy term. Rider Benefit, if any will cease.

Customisable Benefits:

With this option, the life insured can enhance their insurance coverage by adding riders for a nominal cost.

A rider is an add-on to the original life insurance policy, which offers benefits over and above the plan subject to certain conditions.

Riders are a way of maximizing the benefits on a current policy. Riders are also a way of customizing a life insurance plan as per the specific needs of the life insured.

ABSLI Critical Illness Rider (UIN: 109B019V03)

Download the rider brochure from here for more details

This rider provides an additional cover to protect you from costs of medication of 4 major illnesses:

  • First Heart Attack of specified severity
  • Cancer of Specified Severity
  • Stroke resulting in Permanent Symptoms
  • Major Organ/Bone Marrow Transplant

In the unfortunate event that the life insured is diagnosed to be suffering from any one of the above 4 critical illnesses, we will pay 100% of the rider sum assured as a lump sum on survival of 30 days following the date of confirmed diagnosis.


ABSLI Surgical Care Rider (UIN: 109B015V03)

Download the rider brochure from here for more details

This rider provides an additional cover to protect you from the high costs of surgeries.

Iif a life insured is hospitalized for undergoing a medically necessary surgery in India for a minimum period of 24 hours and actually undergoes that surgery, a lump sum benefit will be paid. You can choose your benefit amount from ₹ 3000 to ₹ 30,000. The rider sum assured with be 50 times this benefit amount.

Policy Limits:

You can claim up to 10 times the chosen benefit amount in one policy year and upto 50 times the chosen benefit amount in the entire policy term.


ABSLI Hospital Care Rider (UIN: 109B016V03)

Download the rider brochure from here for more details

This rider provides a daily cash benefit in case of hospitalisation for medically necessary treatment of any illness or injury for a minimum period of 24 hours.

Benefits of the Hospital Care Rider are:

  • Hospital Cash Benefit
  • ICU Benefit
  • Recuperating Benefit

Policy Limits:

The life insured can claim 100 times the chosen daily cash benefit amount in one policy year and 250 times the chosen daily cash benefit amount in the entire policy term.


ABSLI Waiver of Premium Rider (UIN: 109B017V02)

Download the rider brochure from here for more details

This rider ensures your insurance benefits continue if you are unable to pay the premiums in the event any unforeseen calamities.

If you are unable to pay your premium in the event of financial difficulties arising due to the following reasons, then ABSLI will waive off all future premiums:

  • Policy holder becomes completely disabled due to an illness or accident
  • Policy holder is diagnosed with any of the specified critical illnesses:
    • First Heart Attack of Specified Severity
    • Cancer of Specified Severity
    • Stroke Resulting In Permanent Symptoms
    • Major Organ/Bone Marrow Transplant
  • Death of the Policy holder (if not the life insured)

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Disclaimer

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating traditional term 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
ADV/6/17-18/415
Unique No. 109N102V02

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!

  • IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.