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ABSLI SecurePlus Plan

Your monthly income pays for a lot of tangibles - and some valuable intangibles that bring a smile to your loved ones' faces. But sometimes your income falls short of meeting your financial goals. You wonder if there is a way to augment the money you earn.

Your financial life needs a shot in the arm with a plan that gives you guaranteed income and pays you a supplemental income every year. It is a backup insurance plan that gives you twice the benefit of your regular income if you invest in this policy. If financial security is your prime concern, then the best option for you is the ABSLI SecurePlus policy that gives you an assured second income benefit.

Presenting ABSLI SecurePlus Plan

The path to financial security is opened by ABSLI SecurePlus Plan, a traditional non - participating insurance plan that offers you tremendous flexibility to influence your financial future. Broadly, this policy offers the following benefits:

  • Flexibility to choose your premium amount
  • Freedom to choose income benefit
  • In-built Accidental Death Benefit
  • Multiple rider options
  • Death Benefit
  • Maturity Benefit

ABSLI SecurePlus Plan Benefits

The ABSLI Secure Plus plan offers a wealth of benefits that aid your financial security in many ways. Consider two of its key benefits:

  • Flexibility to choose the amount you pay every year
  • Flexibility to choose the Income Benefits: Let us understand this is greater detail, with two pay-out options ingrained in the policy -
Option A Income benefit equal to 100%, 200%, 300%, 400%, 500% and 600% of annual premium (GST and any other applicable taxes, any applicable rider premiums and underwriting extras, if any) will be paid at the end of every year during the Payment Period for 6 years.
Option B Income Benefit equal to 200% of annual premium (excluding GST and any other applicable taxes, any applicable rider premiums and underwriting extras, if any) will be paid at the end of every year during the Payment Period for 12 years.
Income Benefit:

You start receiving the regular income after completing the policy term. The pay-outs are given at the end of each year during the policy's Payment Period. The pay-outs are guaranteed at the time of purchasing the policy. The quantum of the Income Benefit is chosen by you at the inception of the policy, which leads to income payout during the payment period.

Death Benefit:

During the policy term, Sum Assured on death is paid to the nominee, which is the higher of the following:

  • 10 times of the annual premium (excluding GST and any other applicable taxes, applicable rider premiums and underwriting extras, if any); OR
  • 105% of the total premiums paid as on the date of death (excluding GST and any other applicable taxes, any applicable rider premiums and underwriting extras, if any); OR
  • Maturity Sum Assured^^; OR
  • Sum Assured
^^ where Maturity Sum Assured is the commuted value of outstanding Income Benefit on maturity date.
Maturity Benefit:

On policy maturity, you can choose to receive the commuted value* of the Income Benefit as a lump sum amount. Once the maturity benefit is paid, the policy shall be terminated. No Income Benefit shall be payable thereafter.

* The commuted value is currently 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. To know the commuted value for your policy you can get in touch with your advisor, or the nearest branch office.
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 Rs 1 crore.

Customisable Benefits

For added protection, you can enhance your insurance coverage during the policy term by adding following riders for a nominal extra cost.

ABSLI Critical Illness Rider (UIN: 109B019V03)

With ABSLI Critical Illness Rider you can safeguard yourself with the increasing cost of medication. ABSLI Critical Illness rider covers 4 major illnesses.

  1. First Heart Attack of Specified Severity
  2. Cancer of Specified Severity
  3. Stroke Resulting In Permanent Symptoms
  4. Major Organ / Bone Marrow Transplant

Download the Rider brochure from here for more details.

Aditya Birla Sun Life Surgical Care Rider (UIN: 109B015V03)

If you are hospitalized for undergoing medical surgery in India for a minimum period of 24 hours and actually undergo that surgery a lump sum benefit will be paid. You can choose your benefit amount from Rs. 3,000 to Rs. 30,000. The rider sum assured will be 50 times this benefit amount.

Major Surgery

For a surgery that directly involves brain, heart (including coronary arteries), liver or lung the benefit amount will be five times the chosen benefit amount

Other Surgery

For any other valid surgical hospitalization the benefit will be equal to the chosen benefit amount.

Policy Limits

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

Download the Rider brochure from here for more details.

ABSLI Waiver of Premium Rider (UIN: 109B017V02)

In case life insured / policy holder is unable to pay the policy premiums due to a disability, critical illness or an untimely demise, all future premiums of the base plan and the attached riders will be paid by ABSLI and all policy benefits will continue.

If you are unable to pay your premium in the event of financial difficulties arising due to the following:

  • Proposer becomes completely disabled due to an illness or accident
  • Proposer is diagnosed with any of the specified critical illnesses
  • Death of the proposer (if not the life insured)

then ABSLI will waive off all the future premiums of the base plan and the attached riders throughout the rest of the policy term or until the termination of the policy or till the attained age 70 of the proposer whichever is earlier.

The benefit under this rider is payable only when the base plan is in effect. The cover under this rider will cease after a claim under this rider is paid, however, the cover under the base plan/other rider/s will continue.

ABSLI Hospital Care Rider (UIN: 109B016V03)

With the help of ABSLI Hospital Care Rider you can rest assured knowing that you can boldly face unwanted, unexpected circumstances, without any hassles.

Benefits of Hospital Care Rider are:

  1. Hospital Cash Benefit
  2. ICU Benefit
  3. Recuperating Benefit
  4. Policy Limit (You 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.)

Download the Rider brochure from here for more details

Please refer to detailed brochures on riders, consult your financial advisor or visit our website for further details.

Note - The life insured will be entitled to receive the benefit if the illness does not result either directly or indirectly from any one of the causes listed in the exceptions clause of the respective riders brochures

Why take ABSLI SecurePlus Plan?

As this policy gives you a guaranteed income, it is one of the best ways to secure your loved ones to have a stable financial future. To sum up, here are its key benefits:

  • Assured financial protection at an affordable cost
  • The death benefit can be taken in multiple options as per your need
  • The policy rewards you for a healthy lifestyle
  • Its premium paying terms are quite flexible
  • You get income tax benefits as per prevailing norms under the Income Tax Act, 1961. Tax benefits are subject to changes in the tax laws.

Eligibility for ABSLI SecurePlus Plan

Eligibility 5 years - 50 years (age as on last birthday)
Maximum Maturity Age 63 years (age as on last birthday)
Policy Term 13 years
Premium Paying Term 12 years
Minimum Premium Rs. 50,000
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 Rs. 7,25,000
Premium Mode Annual
* Please ask your financial advisor for an illustration applicable to your policy or refer to your policy contract for further details.

Buy ABSLI SecurePlus Plan

You can buy this plan online in just a few steps:

Step 1:

Choose your premium
ABSLI SecurePlus Plan offers you the freedom to choose the amount of premium you commit to pay during the premium paying term. Your Sum Assured will be determined based on your entry age and the premium amount you commit to pay in a policy year.

Step 2:

Choose your Income Benefit Option
ABSLI SecurePlus Plan offers you the flexibility to choose between two Income Benefit Options to suit your requirements.

Income Benefit Option A -
Income benefit equal to 100%, 200%, 300%, 400%, 500% & 600% of annual premium will be paid at the end of every year during the Payment Period for 6 years.

Income Benefit Option B -
Income Benefit equal to 200% of annual premium will be paid at the end of every year during the Payment Period for 12 years.

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 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.


Trade Logo "Aditya Birla Capital" displayed above is owned by ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) and used by ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the license.


Registered Office:
One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013.

Req. No. 109

CIN: U99999MH2000PLC128110

ADV/6/17-18/416

Unique No. 109N102V01


IRDAI hereby clarifies to the public that

  • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums
  • IRDAI does not announce any bonus.
  • Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.