ABSLI Vision LifeIncome Plan

PROTECTING your income is assured, even after retirement.

ABSLI Vision LifeIncome Plan is a traditional participating whole life insurance plan which offers a perfect blend of regular income and financial protection for your family in your absence.

Key Features

  • Whole life cover up to age 100
  • Income for whole life
  • Minimum entry age is 30 days
  • Short premium paying term available
  • Death Benefit In case of your unfortunate demise during the policy period, a pre-determined death benefit will be paid to your nominee. The policy will stand terminated once the death benefit is paid.
  • Terminal illness benefit The policy comes with an inbuilt terminal illness cover. In case you’re diagnosed with a Terminal illness during the policy period, 50% of the applicable sum assured on death, subject to a maximum of Rs. 2.5 Crore will be paid immediately and the remaining future premiums on your policy will be waived off.
  • Waiver of premium In case you suffer with total or permanent disability during the policy term, all future premiums will be waived off. The death benefits under the policy will remain unaffected.
  • Return of Premium If you choose Plan Option 7 or 8, the sum total of all premiums paid by you shall be returned to you on policy maturity date in case you survive the policy period.
  • Joint life protection Under this option, two lives, i.e., you (primary life insured) and your spouse (secondary life insured) are covered under the same policy. The Sum Assured applicable for your spouse shall be equal to 50% of your applicable Sum Assured. You can opt for Joint Life Protection for only if Plan Option 1, 2, 3 or 4 is chosen. No rider can be opted under this option.
  • Enhanced life stage protection Your protection needs varies at different lifestages owing to occurrence of events like marriage and birth of children. You can choose to increase the coverage on occurrence of each of the events without undergoing any fresh medical examination.
  • Customisable benefits For added protection, ABSLI Life Shield Plan can be enhanced by following riders for a nominal extra cost:
    • ABSLI Accidental Death and Disability Rider
    • ABSLI Critical Illness Rider
    • ABSLI Surgical Care Rider
    • ABSLI Hospital Care Rider
    • ABSLI Accidental Death Benefit Rider Plus
    You can opt for either ABSLI Accidental Death and Disability Rider or ABSLI Accidental Death Benefit Rider Plus and not both.
  • Entry Age (age last birthday) 18 to 65 years
  • Maximum Maturity Age 80 years
  • Policy Term Minium
    • For Plan Option: 1 | 2 | 3 | 4 | 5 | 6 – 10 years
    • For Plan Option: 7 | 8 or 20 years
    • Maximum 50 years
  • Premium Paying Term Single Pay | Limited Pay – 6, 8 Years | Regular Pay
  • Premium Mode Annual | Semi-annual | Quarterly | Monthly
  • Sum Assured Minimum
    • Maximum Rs. 25,00,000
    • No Limit (subject to underwriting guidelines)

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Riders

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

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

  • ABSLI Critical Illness Rider (UIN : 109B019VO3)

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

  • 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 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 Surgical Care Rider (UIN: 109B015V03)

    Get lump sum benefit amount to cover surgical expenses

FAQs

  • What is the objective of this plan?

    ABSLI Vision LifeIncome Plan is a traditional participating whole life plan that not only helps you plan your financial goals but also realize your dreams by providing you with a steady income and life cover till age 100.

  • Is this plan better than money back plan?

    Money Back Plans Benefits:

    • Policyholder gets a percentage of sum assured at regular intervals and the balance sum assured and applicable bonuses, if any, at the end of the policy term on maturity.
    • The sum assured and applicable bonuses, if any, is paid if the policyholder dies during the term of the policy
    • If you require a regular flow of income to meet short-term financial goals, a money back plan is ideal for you.

    ABSLI Vision LifeIncome Plan:

    • Policyholder gets a lump sum amount after the premium paying term; 5% of Sum Assured guaranteed plus bonus every year after the Premium Paying Term till age 100and another lump sum at the 100th year
    • Comprehensive financial protection of your family with whole life cover up to age 100 and growth of your investment through bonus accumulation
    • If you want regular guaranteed income, long-term savings along with the life cover for whole life, this plan is ideal for you.
  • What is the mode of payment available for this plan?

    This is an offline plan. You can contact an ABSLI advisor to opt for this plan and you can pay through online modes of transaction as well, with their help.

  • Can I claim tax benefits in this policy? Will the maturity amount be taxable?

    Yes, there are tax benefits2 on ABSLI Vision LifeIncome Plan. The premiums paid qualify for tax exemption under section 80C, while the maturity or death benefit payouts qualify for tax exemption under section 10(10D).

    2Tax benefits are subject to changes in tax laws. You are advised to consult your tax advisor for the same.

  • What are accrued bonuses?

    ABSLI declares simple reversionary bonuses regularly at the end of each financial year and those will be accrued in the policy on its anniversary, upon 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 prevailing economic conditions. Future bonuses are, however, not guaranteed and will depend upon the future profits of the participating business.

  • What is terminal bonus?

    ABSLI may pay a terminal bonus at company’s discretion on death, or maturity, based on the actual experience and the prevailing economic conditions.

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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 and 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. Tax benefits are subject to changes in the tax laws. You are advised to consult your tax advisor for details. The regular bonus rate declared by ABSLI 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. ABSLI will declare simple reversionary 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. For further details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sales. 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) Registered Office: One World Center Tower 1, 16th Floor, Jupiter Mill Compound, 841 Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI Reg No.109 Call Centre: 1-800-270-7000 www.adityabirlasunlifeinsurance.com CIN: U99999MH2000PLC128110 UIN: 109N079V05

ADV/9/20-21/1157

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.

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