ABSLI Vision Star Plan


PROTECTING your child’s passion now made easy.


Aditya Birla Sun Life Insurance Vision Star Plan provides regular assured payouts for financing your child’s education & securing child’s future even in your absence with comprehensive financial protection.

Key Features

  • Regular payouts starting 5 years after the premium paying term
  • Multiple Assured Payout options
  • Flexibility of premium paying term and policy term
  • Growth of your savings through bonus accumulation

Assured Payout Options

  • 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.

  • Death Benefit

    In case of the life insured’s unfortunate demise during the policy term, a pre-determined death benefit will be paid to your nominee. The policy will stand terminated once the death benefit is paid.

    Please refer product brochure for more details

  • Assured Payout

    Starting from the 5th year after the premium paying term is over, you shall start receiving Assured Payouts which are predefined percentages of the Sum Assured chosen by you.

    Please refer product brochure for more details

  • Maturity Benefit

    In the event the life insured survives to the end of the policy term, we shall pay to you the accrued bonus till date plus terminal bonus if any. The policy shall be terminated once the maturity benefit is paid.

  • Customisable benefits

    For added protection, you can enhance your insurance coverage during the policy term by adding the following riders for 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: 109B017V03)
    • ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)
  • Reduced Paid-Up Benefits

    If you discontinue paying premiums after having paid premiums for at least two full years, your policy will not lapse but continue on a Reduced Paid-Up basis.

  • Entry Age (age last birthday)

    18 - 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

    Rs. 1,00,000

  • Premium Frequency

    Annual, Semi-annual, Quarterly & Monthly

    Risk commences from first policy anniversary

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Riders

  • ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)

    Get additional protection for accident leading to death at a nominal cost.

  • ABSLI Accidental Death and Disability Rider (UIN: 109B018V03)

    Get additional protection for accident leading to death or disability at a nominal cost.

  • ABSLI Critical Illness Rider (UIN: 109B019VO3)

    Get benefit amount as a lumpsum upon diagnosis of any of the 4 specified critical illnesses.

  • ABSLI Hospital Care Rider (UIN: 109B016V03)

    Get daily cash benefit, additional ICU benefit and lumpsum recuperating benefit upon hospitalization

  • ABSLI Surgical Care Rider (UIN: 109B015V03)

    Get lump sum benefit amount to cover surgical expenses

  • ABSLI Waiver of Premium Rider (UIN: 109B017V03)

    All future premiums waived in case of permanent disability, death or 4 specified major illness

FAQs

  • What is so special about this plan?

    This plan helps you to get regular assured payouts for financing your grand/child’s education and securing their future, even in case of any eventuality. With its unique liquidity feature of assured payouts, bonus accumulation, and a guaranteed life insurance benefit, this product offers a perfect blend for taking care of all your financial needs.

  • Is it compulsory to buy child insurance plan?

    You must have child insurance plan to secure your child’s goals. Uncertainty can strike at any time; it is a terrifying thought for any parent to leave their family without adequate means to lead a comfortable life. Through a child plan, your child’s future will be taken care of.

  • What is the right time to buy this plan?

    Starting early with this child insurance plan will secure the future of your child early on. This plan provides a long horizon to invest, helping you to periodically build wealth and will give you a corpus at each of your child’s milestones.

  • Does this plan provide any tax benefit?

    Like some of the best child plans, this plan provides tax benefits under section 80C and 10(10D) of the Income Tax Act, 19611.

    1Tax benefits are subject to changes in tax laws.

  • What it the criteria for calculating premium?

    You can calculate your premium based on the age and life cover you wish to take through a premium calculator.

  • What is the rider benefit mentioned in this plan?

    For added protection, you can enhance your insurance coverage during the policy term by adding the following riders for 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: 109B017V03)
    • ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)
  • Should I buy this plan online or offline?

    You can buy this child plan online as well as offline.

  • Does this plan cover death benefit?

    Yes, this child insurance plan covers death benefit. In case of your unfortunate demise during the policy term, a pre-determined death benefit will be paid to your nominee. The policy will stand terminated once the death benefit is paid.

  • Will my premium increase with my age?

    No, your premiums will not increase as per the age.

  • What are the premium benefits of this plan?

    This plan offers the option to pay your premiums Annually, Semi-annually, Quarterly & Monthly. You also get a premium discount on high sum assured and a premium rebate on annual and semi-annual mode of payment.

  • What are accrued bonuses?

    ABSLI declares simple bonuses regularly at the end of each financial year and those will be accrued in the policy on its policy anniversary, surrender or on death. Bonuses once attached to the policy are payable along with the interim bonuses, as applicable on death, surrender or survival. In case of surrender, the surrender value of the attached bonuses will be payable. The regular bonus rate declared by the company may vary 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.

  • What is terminal bonus?

    As the name suggests, terminal bonus is added only on the maturity of the policy or on death based on actual experience and prevailing economic conditions. It is a one-time bonus that the insurer may declare for policyholders who have run the policy till its original term.

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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, 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. Some benefits are guaranteed and some benefits are variable with bonuses based on the future performance of the participating business and economic conditions. If your policy offers guaranteed returns then these will be clearly marked "guaranteed" in the illustration table on this page. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc. The insurance cover for the life insured (including minors) will commence on the policy issue date. For further details please refer to the policy contract. Tax benefits are subject to changes in the tax laws. 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 World Center, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI Reg No. 109 www.adityabirlasunlifeinsurance.com CIN: U99999MH2000PLC128110 UIN: 109N096V03

ADV/9/20-21/1015

Need help with life insurance?

+91
I agree to the Terms of Usage and Privacy Policy and authorize Aditya Birla Sun Life Insurance Company Limited and its associates to call/SMS/Email/WhatsApp me.

Thank you for your details. We will reach out to you shortly.

1800-270-7000 or reach out to us on this number.

Thank you for your details. Currently we are facing issue in our system.

1800-270-7000 or reach out to us on this number.