ABSLI Vision LifeIncome Plus Plan

ABSLI Vision LifeIncome Plus Plan

Whole Life Insurance with Guaranteed Regular Income
Whole Life Insurance with Guaranteed Regular Income
Life Cover Up to Age 100 years Life Cover Up to Age 100 years
Flexible Bonus Payouts Flexible Bonus Payouts

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Give ₹50,000 for 8 years and Get ₹7.91 lakhs3

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Why buy ABSLI Vision LifeIncome Plus Plan?

Aditya Birla Sun Life Insurance Vision LifeIncome Plus Plan offers you life protection with guaranteed regular income and bonus payouts. A comprehensive plan that covers you for a maximum age of 100 years.

Key Features

  • ABSLI Vision LifeIncome Plus Plan Whole life cover up to age 100
  • ABSLI Vision LifeIncome Plus Plan Guaranteed regular income
  • ABSLI Vision LifeIncome Plus Plan Cash-in-hand option
  • ABSLI Vision LifeIncome Plus Plan Flexible Bonus Payouts
  • ABSLI Vision LifeIncome Plus Plan Option to enhance your insurance cover through riders
ABSLI Vision LifeIncome Plus Plan

Benefits of ABSLI Vision LifeIncome Plus Plan

ABSLI Vision LifeIncome Plus Plan is a life insurance plan that provides guaranteed regular income to meet your needs. These are the benefits of the plan.

Survival Benefit
Survival Benefit
Survival Benefit will be paid out depending on the plan option chosen provided all premiums are paid. Depending on the payment frequency the percentage of benefit will be paid. Read the product brochure for more details.
Maturity Benefit
Maturity Benefit
Maturity benefit is paid if the life insured survives till the end of the policy period, provided all the premiums have been paid and the policy is in force. When the condition suffices, the benefit of accrued paid up additions (if any) and terminal bonus (if any) is paid. Read the product brochure for more details.
Death Benefit
Death Benefit
In case of the death of the life insured during the policy term, the nominee will receive sum assured along with either policy continuation benefit or terminal bonus and accrued paid up additions. The income types are long term, short term or whole life income. Read the product brochure for more details.
Tax Benefit
Tax Benefit
The policy provides tax benefit to the policyholder on all the premiums paid. The tax benefits² are subject to changes in tax laws. Consult your financial advisor for the same.

Make ABSLI Vision LifeIncome Plus Plan Wider with Riders

Buy rider covers to expand the basic savings plan

  • Coverage
    All Individuals (Male | Female | Transgender)
  • Benefit Options
    At policy inception, You will have the option to choose from the below mentioned Benefit Options:
    1. Short Term Income
    2. Long Term Income
    3. Whole Life Income
  • The Benefit Option once chosen cannot be changed thereafter.
  • PPT, Benefit Payout Period and Policy Term (PT):

    Short Term Income

    Premium Payment Term

    Benefit Payout Period

    Policy Term

    8 years

    10 years

    18 years

    10 years

    10 years

    20 years

    12 years

    10 years

    22 years

    15 years

    10 years

    25 years


    Long Term Income:

    Premium Payment Term

    Benefit Payout Period

    Policy Term

    8 years

    20 | 25 | 30 years

    28 | 33 | 38 years

    10 years

    20 | 25 | 30 years

    30 | 35 | 40 years

    12 years

    20 | 25 | 30 years

    32 | 37 | 42 years

    15 years

    20 | 25 | 30 years

    35 | 40 | 45 years


    Whole Life Income:
    At inception, you have the flexibility to choose coverage till age 85 or age 100 years.

    Premium Payment Term

    Benefit Payout Period

    Policy Term

    8 years

    Coverage till Age 85:

    85 less (Age at entry + PPT), subject to a maximum of 30 years

     

    Coverage till Age 100:

    85 less (Age at entry + PPT), subject to a maximum of 30 years

    Coverage till Age 85:

    85 years less Age at Entry

     

    Coverage till Age 100:

    100 years less Age at Entry

    10 years

    12 years

    15 years


    The Policy Term once chosen at inception cannot be changed thereafter for all Benefit Options
  • Minimum Entry Age (age as on last birthday)
    30 days*
    * 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 Entry Age (age as on last birthday)

    Short Term Income

    Long Term Income

    Whole Life Income

    60 years

    55 years

    55 years


  • Minimum Maturity Age:
    18 years

  • Maximum Maturity Age: (age as on last birthday)

    Short Term Income and Long Term Income

    Whole Life Income Till Age 100

    Whole Life Income Till Age 85

    85 years

    100 years

    85 years


  • Minimum Annualized Premium:
    Rs. 50,000

  • Maximum Annualised Premium:
    No Limit (subject to Board Approved Underwriting Policy)

  • Premium Payment Frequency and Frequency Loadings:
    Annual | Semi-Annual | Quarterly | Monthly

  • Benefit Payout Frequency:
    Annual | Monthly

How does ABSLI Vision LifeIncome Plus Plan Works?

Learn with an example. Lead by an example.

How does ABSLI Vision LifeIncome Plus Plan Works
  • Mr. Sharma aged 35 years invested in ABSLI Vision LifeIncome Plus Plan and chose for Short Term Income Benefit Option. The annualised premium is Rs. 1,00,000 per annum, Premium Paying Term is 10 years, Benefit Payout Period is 10 years, Policy Term is 20 years. Benefit payout frequency is monthly. Returns expected at 8% and 4%.
  • The Sum Assured chosen was Rs.10,09,800/-, Bonus Utilisation Option is Paid-Up Additions.
  • Mr. Sharma survived the policy term and received Guaranteed Income Benefit throughout the Benefit Payout Period
  • Total guaranteed income for 10 years is Rs.12,11,760/- and guaranteed monthly income as 1% of sum assured Rs. 10,098 per month.
  • Lump Sum at policy maturity is accrued paid up additions @8% Rs.565,488 |@4% 5049+terminal bonus @8% Rs.302,940/-| @4% Rs.103,000/-
  • Mr. Sharma aged 35 years invested in ABSLI Vision Life Income Plus Plan and chose the following at the inception. Benefit Option: ‘Long Term Income’| Annualized Premium :Rs.100,000 per annum| Premium Payment Term :10 years| Benefit Payout Period: 20 years |Policy Term: 30 years |Benefit Payout Frequency: Annual| Sum Assured Rs.645,278| Bonus Utilization Option: Paid Up Addition.
  • Mr. Sharma survived the policy term and received the guaranteed income benefit throughout the benefit payout period. Assumed Additions at 8% and 4%.
  • Total guaranteed income for 20 years will be Rs.10,96,973/-. Guaranteed annual income for fixed 20 years as 8.50% of sum assured is Rs.54,849/-.
  • Lump sum at policy maturity will be equals to last guaranteed income benefit Rs.54,849/-+ Accrued paid up additions @8% Rs.580,751| @4% Rs.0+ Terminal Bonus @8% Rs.19,55,194| @4% Rs.371,035/-.
  • Mr. Sharma, aged 35 years invested in ABSLI Vision Life Income Plus Plan for whole life income benefit option. These were the conditions at the inception: Coverage Till: Age100 years| Annualized Premium: Rs.100,000 p.a| Premium Payment Term :10 years| Benefit Payout Period:30 years| Policy Term:65 years| Benefit Payout Period:Annual| Sum Assured: Rs.13,19,001| Bonus Utilization Option: Paid Up Additions.
  • Mr. Sharma survived the policy term and received guaranteed income benefit throughout the benefit payout period.
  • Total Guaranteed Income for 30 years Rs.10,36,735/-. Guaranteed annual income for 30 years as 2.62% of sum assured Rs.34,558/-p.a.
  • Lump Sum at policy maturity is sum assured Rs.13,19,001+ Accrued paid up additions @8% Rs.134,53,808| @4% Rs.0 +Terminal Bonus @8% Rs.40,83,626| @4%459,012.
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What’s not Covered?

The plan covers you broadly but not for this:
— If the life insured dies within 12 months of the commencement of the policy or after the revival of the policy, the cover shall cease 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

Frequently Asked Questions

Quick way to get deep into the What, How, and Why of savings plans.

ABSLI Vision LifeIncome Plus plan gives you options for regular income as well as render financial protection for the family. You need a savings plan like ABSLI Vision LifeIncome Plus Plan if you have a vision to manage expenses that will fall due in the future. Money is never sufficient and hence planning for it becomes a must.
As per extant tax laws, this plan offers tax benefits² under Section 80C, 80D (for specific rider premium) and Section 10(10D) of the Income Tax Act, 1961, subject to fulfilment of the other conditions of the respective sections prescribed therein. 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 independent tax advice.
Yes, provided there is no non-disclosure on the COVID Questionnaire. Please ensure that the COVID questionnaire is filled.
You choose a life insurance plan like ABSLI Vision LifeIncome Plus Plan with an income benefit if you are the sole earner in the family, if you have more than one dependents, if you have loan EMIs to pay, and if you want to sustain the standard of living.
The income benefit pays regular income to the policyholder on maturity of the policy. The benefit is paid to the family after the policyholder passes away.
ABSLI Vision LifeIncome Plus Plan provides the following options:
  • Choice of 3 Benefit Options: The plan gives you flexibility to choose from three Benefit Options i.e. Short-Term Income, Long Term Income and Whole Life Income (Till Age 100 or Till Age 85) to cater to your family’s needs across all life stages.
  • Guaranteed Regular Income: A regular flow of guaranteed income for the number of years you choose.
  • Cash-in-hand even while paying premiums: Complete flexibility to receive paid-up additions in cash from the end of the first policy year onwards – for immediate liquidity. You can also accumulate the bonus as paid-up additions and withdraw when you need it.
  • Life cover up to a maximum of age 100: Get covered for life with a life insurance cover that lasts until your 100th birthday.
  • Waiver of Premiums: Inbuilt benefit* that waives off your future premiums in case of an eventuality, to ensure your family’s future remains secure even in your absence.
  • Customizable Benefits: Increase your insurance cover through riders, which are available at a nominal extra cost.
*Available with ‘Short Term Income’ Option only
Anyone meeting the following criteria is eligible for this plan:
  • 30 days to 60 years for Short Term Income Option
  • 30 days to 55 years for Long Term Income Option
You can visit the website of Aditya Birla Sun Life Insurance and then select the plan. After that visit the link “Buy Now”. The window will prompt asking for name and number. The life insurance advisor will get back to you with details.
Yes, there are plan options available under the ABSLI Vision LifeIncome Plus Plan. These benefits once chosen cannot be changed throughout the policy term. At policy inception, you will have the option to choose from the below mentioned Benefit Options:
  • Short Term Income – Get Guaranteed Income after Premium Payment Term for 10 years
  • Long Term Income – Get Guaranteed Income after Premium Payment Term for 20, 25 or 30 years
  • Whole Life Income – Get Guaranteed Income after Premium Payment Term till Age 100 or till Age 85 years (subject to max 30 years)

The Maximum maturity under ABSLI Vision LifeIncome Plus is:


Benefit Option Type

Maximum Maturity Age

Short Term Income

85 years

Long Term Income

85 years

Whole Life Income

85 years | 100 years

The minimum premium available under this plan is Rs. 50,000 per annum.
At inception, you will have the following bonus utilization options available:
  • Paid Up Additions (PUA): Bonuses in the form of Paid Up Additions (if any), will accumulate under the policy from the end of the 1st policy year and onwards.
  • Cash Value of Paid Up Additions (PUA): You can opt to take a Cash Value of Paid Up Additions (if any), which will be payable to you every year from the end of the 1st policy year and onwards.
In case the Life Insured, minor or major, dies due to suicide within 12 months from the Risk Commencement Date or date of revival of the policy, the policy shall immediately terminate, and Company shall pay the following to the Nominee:

1. Where the Policy has acquired the Surrender Value, higher of Surrender Value or (Sum of all Premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes) till date of death.
2. Where the Policy hasn’t acquired the surrender value, sum of all premiums paid plus underwriting extra premiums plus loadings for modal premiums paid excluding applicable taxes) till date of death.
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  • Disclaimer

    1 Our life insurance policies cover COVID -19 claims under life insurance claims, subject to applicable terms & conditions of policy contract and extant regulatory framework.

    2 Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.

    3 ABSLI Vision LifeIncome Plus Plan, age 21, healthy male, premium paying term 8 years, policy term 18 years, income benefit option=short term income, annual premium Rs.4lakhs (Rs.50,000X8), Guaranteed Income Benefit of Rs.4,84,270/- in monthly instalments, Lump Sum maturity payout Rs.3,06,747 with returns @8%.

    This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked participating individual life insurance savings plan. 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. All the benefits are payable subject to the terms and conditions of the Policy. All policy benefits are subject to policy being in force. Policyholder and Life Insured can be different under this product. In all situations, it is ensured that the Policyholder has an insurable interest in the Life Insured. For other terms and conditions, request your Agent Advisor or intermediaries for giving a detailed presentation of the product before concluding the sale. Should you need any further information from us, please contact us on the below mentioned address and numbers. In the above scenario, 4% p.a. and 8% p.a. are only assumed investment returns and are not guaranteed. Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy offers guaranteed benefits then these will be clearly marked “guaranteed” in the illustration table on this page. If your policy off¬ers variable benefits then the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance. Tax benefits are subject to changes in tax laws. UIN: 109N131V01.

    ADV/3/21-22/2487