ABSLI Vision Endowment Plus Plan

PROTECTING your life goals is now more flexible.

ABSLI Vision Endowment Plus Plan offers secured savings and provides your family with comprehensive financial protection for longer durations.

Key Features

  • Accrued regular bonuses to augment your savings
  • Comprehensive financial protection of your family
  • Death benefit

    In the unfortunate event of the death of the life insured during the policy term, the death benefit payable to the nominee shall be

    • Sum Assured on Death; plus
    • Accrued regular bonuses2 as of date of death; plus
    • Terminal Bonus (if any)

    Please refer the 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

    • Sum Assured on maturity(1); plus
    • Accrued bonuses2 till date; plus
    • Terminal bonus2 (if any)

     

    The policy shall be terminated once the maturity benefit is paid.

    (1)Where Sum Assured on maturity is equal to total premiums paid
    2Some 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.

  • Entry Age (age last birthday)

    30 days* – 60 years

    (subject to maximum maturity age of 70 years)

  • Policy Term

    10 – 40 years

  • Premium Paying Term

    7, 10, 15, 20 years, Regular Pay

  • Minimum Sum Assured

    Rs. 1,00,000

  • Minimum Premium

    Rs. 2,495 p.a.

  • Premium Frequency

    Annual, Semi-annual, Quarterly & Monthly


    *Risk commences when the life insured attains age 1

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Riders

  • 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 Surgical Care Rider (UIN: 109B015V03)

    Get lump sum benefit amount to cover surgical expenses

  • ABSLI Hospital Care Rider (UIN: 109B016V03)

    provides daily cash benefit in case of hospitalization for a minimum period of 24 hours for medically necessary treatment of any Illness or Injury payable from the first day for the duration of hospitalization.

  • ABSLI Accidental Death Benefit Rider Plus (UIN: 109A024V01)

  • ABSLI Waiver of Premium Rider (UIN: 109B017V02)

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

FAQs

  • How does this plan work?

    Below are the steps depicting how the plan works:

    • STEP 1: Choose your sum assured
    • STEP 2: Choose your premium paying term
    • STEP 3: Choose your policy term
    • STEP 4: Choose the Death Benefit Option

    Your premium will depend on the amount of the Sum Assured you select.

     
  • What happens if I stop paying my premiums?

    If you discontinue paying premiums aſter having paid for at least two full policy years, your policy will not lapse but will continue on a Reduced Paid-Up basis. Under Reduced Paid-Up, your sum assured and sum assured on maturity shall be reduced in proportion to the number of premiums actually paid to the total premiums payable during the premium paying term

  • What is the amount I will get after the policy gets matured?

    In the event the life insured survives to the end of the policy term i.e. the policy gets matured,

    we shall pay to you

    • Sum Assured on maturity(1)
    • Accrued bonuses till date plus
    • Terminal bonus (if any)

    The policy shall be terminated once the maturity benefit is paid

    (1)where Sum Assured on maturity is equal to total premiums paid

     
  • Do I need to pay tax on this policy?

    As per extant tax laws, this plan offers tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961, subject to fulfillment of the other conditions of the respective sections prescribed therein.

    You are advised to consult your tax advisor for details.

  • Who should buy Vision Endowment Plus plan?

    ABSLI Vision Endowment Plus Plan is suitable for persons who want to have secured savings and provide their family with comprehensive financial protection for longer durations.

     
  • What are the eligibility criteria for this plan?

    Eligibility Criterion

    Entry Age (age last birthday)

    30 days* 60 years (subject to maximum maturity age of 70 years )

    Policy Term

    10 – 40 years

    Premium Paying Term

    7 | 10 | 15| 20 years | Regular Pay

    Minimum Sum Assured

    Rs. 1,00,000

    Minimum Premium

    Rs. 2,495 p.a.

    Premium Frequency

    Annual, Semi-annual, Quarterly and Monthly

    *Risk commences from the first policy anniversary.


  • Can I cancel the policy after buying?

    You will have the right to return your policy to us within 15 days (30 days in case the policy is issued under the provisions of IRDAI Guidelines on Distance Marketing^ of Insurance products) from the date of receipt of the policy. We will refund the premium paid once we receive your written notice of cancellation (along with reasons thereof) together with the original policy documents. We will deduct proportionate risk premium for the period of cover and expenses incurred by us on medical examination and stamp duty charges while issuing your policy.

  • Can I surrender my policy during the policy term?

    Yes, Your policy will acquire a surrender value aſter all due premiums for at least two full policy years, are paid. The Guaranteed Surrender Value is a percentage of Total premiums paid plus the surrender value of accrued regular bonuses. The Guaranteed Surrender Value will vary depending on the premium paying term and the year the policy is surrendered.

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Disclaimer:

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a traditional participating endowment 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. 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 details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. Tax benefits are subject to changes in the tax laws. Aditya 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.

Call Centre: 1-800-270-7000 www.adityabirlasunlifeinsurance.com IRDAI reg no.109 CIN: U99999MH2000PLC128110 UIN: 109N092V04

ADV/9/20-21/1047

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.