ABSLI Assured Savings Plan

ABSLI SecurePlus Plan

Protecting and Prioritizing your family`s short-term goals with flexibility.
Protecting and Prioritizing your family`s short-term goals with flexibility.
Guaranteed Benefits Guaranteed2 Income
Tax Benefits Loyalty Additions

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Give ₹50 K/year for 12 years
Get ₹1.95 lakh/year for 6 years³
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Why buy ABSLI SecurePlus Plan?

Aditya Birla Sun Life Insurance SecurePlus Plan helps keep your income at pace with your needs and goals that secures your financial future.

Key Features
  • iconbullet Guaranteed² Income: Get regular flow of guaranteed² income for your chosen Benefit Payout Period to safeguard your savings.
  • iconbullet Loyalty Additions: Loyalty Additions as an additional boost to your Income Benefit pay-out.
  • iconbullet Commutation Option: Flexibility to receive a discounted value of future survival benefits as a lump sum based on your needs.
  • iconbullet Customizable Benefits: Option to enhance your insurance cover through riders, which are available at a nominal extra cost.
ABSLI SecurePlus Plan

Benefits of ABSLI SecurePlus Plan

ABSLI Assured Income Plus benefits you with guaranteed2 regular income for the long term in future.

Savings Plan
Survival Benefit
On Survival of life insured, provided all due premiums have been paid, Survival Benefit in the form of Guaranteed Income will be paid at the end of each year starting from the first policy year (if ‘0 Year’ deferment is chosen) until Policy Maturity.
Savings Plan
Maturity Benefit
At the end of the Policy Term, this plan provides flexibility to use the commutation option wherein, at any time on or after end of the Policy Term, if the policy holder would like to get a lump sum instead of the Income Benefits, the commuted value of the outstanding benefits shall be paid as a lump sum.

This lump sum will be at least equal to the Total Premiums Paid less Survival Benefit, if any, already paid. The commutation option can also be exercised by the Nominee/legal heir after the death of the Policyholder.
Savings Plan
Death Benefit
In case of death of the Life Insured anytime during the Policy Term, provided the Policy is in-force and not under Lapsed or Reduced Paid Up mode, We will pay the “Sum Assured on Death” to Your nominee/beneficiary:
Savings Plan
Tax Benefit
You may be entitled to certain applicable tax benefits on the premiums paid and benefits received under Your Policy. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek an independent tax advice.
Savings Plan
Rider Benefit
For added protection, you can enhance your risk coverage during the policy term by adding riders at a nominal extra cost.
Savings Plan
Staggered Death Benefit Option
The nominee/beneficiary will have an option to receive the Death Benefit in annual/monthly installments payable at the end of the year/month instead of a lump-sum, over a period of 5 years as per the percentages given below:

Enhance ABSLI SecurePlus Plan with Riders

Enhance your cover with Riders at nominal additional premium

How does ABSLI SecurePlus Plan Work?

ABSLI Assured Savings Plan
  • He chooses to receive his Income Benefit annually. His Sum Assured is Rs 12,50,000.
  • Mr. Sharma survives through the Policy Term and receives Income Benefits throughout the Benefit Payout Period.
  • He opts for 12 years Premium Payment Term with 13 years Policy Term and 12 years of Benefit Payout Period.
  • Mr. Sharma aged 35 years invested ₹1,00,000 per annum in ABSLI SecurePlus Plan
  • He chooses to receive his Income Benefit annually. His Sum Assured is Rs 12,50,000.
  • Mr. Sharma dies in the 7th year of the policy during his Premium Payment Term, his nominee will receive the Death Benefit.
  • Mr. Sharma aged 35 years invested ₹1,00,000 per annum in ABSLI SecurePlus Plan
  • He opts for 12 years Premium Payment Term with 13 years Policy Term and 12 years of Benefit Payout Period.
Buy ABSLI Assured Savings Plan Online

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Product Specifications

Type of Plan

A Non-Linked Non-Participating Individual Life Insurance Savings Plan

Coverage

All Individuals (Male | Female | Transgender)

Age of the Life Insured at Entry (age as on last birthday)

Minimum

1* year

* In case the Life Insured is a minor, the Policy will automatically vest once the life insured attains the age of majority. The risk coverage for the minors will start from the policy issue date.

Maximum

60 years

Maturity Age of the Life Insured (age as on last birthday)

Minimum

18 years

Maximum

77 years

Premium Payment Term (PPT), Policy Term (PT) and Benefit Payout Period

Premium Payment Term (PPT)

Policy Term (PT)

Benefit Payout Period

6 years

6/7/8/9/10/11 years

6/8/10/12 years

8 years

8/9/10/11/12/13 years

6/8/10/12 years

10 years

10/11/12/13/14/15 years

6/8/10/12 years

12 years

12/13/14/15/16/17 years

6/8/10/12 years

 

Note:-

  1. The PPT and PT once chosen at policy inception, cannot be changed thereafter.
  2. The Benefit Payout Period commences after the end of the Policy Term, during which the Survival Benefit is payable to the Policyholder. It is chosen at policy inception and cannot be changed thereafter.

Premium Payment Frequency and Modal Factors

Annual | Semi-Annual | Quarterly | Monthly

Mode

Annual

Semi-annual

Quarterly

Monthly

Modal Factors

0.0%

3.5%

5.0%

6.0%

Minimum Annualized Premium

Rs. 50,000

Maximum Annualized Premium

No Limit (subject to Board Approved Underwriting Policy)

Minimum Sum Assured

Rs 3,50,000

Maximum Sum Assured

No Limit (subject to Board Approved Underwriting Policy)

Premium bands

The benefits under this product vary by premium bands as mentioned below:

Premium Bands

Band 1

Band 2

Band 3

Band 4

Band 5

Band 6

Annualized Premium

(in Rs.)

50,000 to 74,999

75,000 to 1,49,999

1,50,000 to 2,99,999

3,00,000 to 4,99,999

5,00,000 to 24,99,999

25,00,000+

What’s not Covered?

Suicide Exclusion

If the Life Insured dies by suicide within 12 months of the effective date of commencement of risk or the date of revival of policy, the policy shall terminate immediately. In such cases, the Company shall pay higher of Surrender Value or (Total Premiums Paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes) in case the policy has acquired a Surrender Value; or Total premiums Paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes in case the policy has not acquired a Surrender Value.

How to initiate Claim?

3 quick steps, everything online.

  • Fill basic details
  • Claim intimation
  • Document submission

SecurePlus Plan FAQs

Know more about ABSLI SecurePlus Plan in detail here:

Key features of ABSLI SecurePlus Plan are:
  • Guaranteed² Income: Regular flow of guaranteed² income for the chosen Benefit Payout Period to safeguard savings.
  • Loyalty Additions: Loyalty Additions as an additional boost to the Income Benefit pay-out.
  • Commutation Option: Flexibility to receive a discounted value of future survival benefits as a lump sum based on ones needs.
  • Customizable Benefits: Option to enhance the insurance cover through riders, which are available at a nominal extra cost.
Anyone meeting the following criteria is eligible for ABSLI SecurePlus Plan:
- Age at entry: 1 to 60 years (age last birthday)
ABSLI SecurePlus Plan has a maximum maturity age of 77 years.
The minimum Sum Assured is Rs. 3,50,000. There is no limit on the maximum Sum Assured, however it is subject to the Board Approved Underwriting Policy.

The Premium Payment Term, Policy Term & Benefit Payout Period applicable is as follows:

Premium Payment Term (PPT)

Policy Term (PT)

Benefit Payout Period

6 years

6, 7, 8, 9, 10, 11 years

6, 8, 10, 12 years

8 years

8, 9, 10, 11, 12, 13 years

6, 8, 10, 12 years

10 years

10, 11, 12, 13, 14, 15 years

6, 8, 10, 12 years

12 years

12, 13, 14, 15, 16, 17 years

6, 8, 10, 12 years

Yes, the customer/policyholder can opt to receive the Benefit Payout Frequency in Annual or Semi-Annual or Quarterly or Monthly instalments.
The minimum annualized premium is Rs. 50,000 for all PPTs.

The premium amount chosen will be payable every year for the premium paying term.
No, Loyalty Addition is applicable only for policies that have paid all the due premiums under the policy.
As per extant tax laws, this plan offers tax benefits under Section 80C, 80D (for specific rider premium) and Section 10(10D) of the Income Tax Act, 1961. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by policyholder. It is advisable to seek an independent tax advice.

There are exclusions attached to the riders. Please refer rider brochure for more details.
Yes, provided there is no non-disclosure on the COVID Q. Please ensure that the COVID questionnaire is filled.
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  • Disclaimer

    ¹Tax benefits are subject to changes in the tax laws. You are advised to consult your tax advisor for the same.
    ²Provided all due premiums are paid
    ³ABSLI SecurePlus Plan, Healthy male age: 21 years. Premium Payment Term 12 years, Annual Premium Rs.50,000/-,policy term 15 years, Payment Frequency: Annually, benefit payout period: 6 years, Get Income Benefit of Rs.1,30,600/- +Loyalty Additions of Rs.65,300= Regular Income of Rs.1,95,900 p.a for 6 years.
    This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked non-participating individual life insurance savings plan. All terms & conditions are guaranteed throughout the policy term. GST 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.
    UIN: 109N102V10
    ADV/5/24-25/343