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
  • Survival Benefit

    In the event the life insured survives to the end of the premium paying term, you will receive the accrued bonuses1 till date.

    In the event the life insured survives to the end of each subsequent policy year, you will receive an income benefit of 5% of Sum Assured and bonus from the last policy year.

    1 Some benefits are guaranteed and some benefits are variable with bonuses based on the future performance of the participating business and economic conditions

  • Maturity Benefit

    In the event the life insured survives to the end of the policy term, we shall pay to the higher of sum assured or 105% of total premiums paid to date plus the terminal bonus1.

    1 Some benefits are guaranteed and some benefits are variable with bonuses based on the future performance of the participating business and economic conditions

  • Death Benefit

    In the unfortunate event of the death of the life insured during the premium paying term, we shall pay to the nominee

    • Sum Assured on Death; plus
    • Accrued bonuses as on date of death; plus
    • Terminal bonus (if any)

    In the event the life insured dies after the premium paying term, we shall pay to the nominee

    • Sum Assured on Death; plus
    • Bonus from the last policy year; plus
    • Terminal bonus (if any)
  • Customizable Benefits

    For added protection, ABSLI Vision LifeIncome Plan can be enhanced with the following riders for a nominal extra cost:

    • ABSLI Accidental Death and Disability Rider (UIN: 109B018V03)
    • ABSLI Critical Illness Rider (UIN : 109B019VO3)
    • ABSLI Surgical Care Rider (UIN: 109B015V03)
    • ABSLI Hospital Care Rider (UIN: 109B016V03)
    • ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)
    • ABSLI Waiver of Premium Rider (UIN: 109B017V03)

     

    You can opt for either ABSLI Accidental Death and Disability Rider or ABSLI Accidental Death Benefit Rider Plus, and not both.

    For more details on the above mentioned benefits, please refer to the product brochure. 

  • Entry Age (age last birthday)

    30 days* – 60 years

  • Policy Term

    Whole Life to Age 100

  • Premium Paying Term

    8 | 10 | 12 | 15 to 40 years

  • Minimum

    Attained Age at end of Premium Paying Term is 18 or more

  • Maximum

    Attained Age at end of Premium Paying Term is 75 or less

  • Minimum Sum Assured

    Rs. 2,00,000

  • Minimum Premium

    For Premium Paying Term 8 | 10 | 12 years - Rs. 25,000 p.a.
    For Premium Paying Term 15 to 40 years - Rs. 3,880 p.a.

  • Premium Frequency

    Annual, Semi-annual, Quarterly, Monthly

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Riders

  • ABSLI Waiver of Premium Rider (UIN: 109A039V01)

    All future premiums waived in case of permanent disability due to illness or accident, any of the specified critical illnesses or death.

  • 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: 109A024V01)

    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)

    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

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.

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