Aditya Birla Sun Life Insurance Company Limited

ABSLI Vision LifeIncome Plus Plan

Ensure a Lifetime of Regular Income

Life Cover till age of 100

Flexible Bonus Payouts

Give 1 lakh/year for 10 years and
Get Rs 3.71 lakhs @ 4% and Rs. 25.35 lakhs @ 8% at maturity¹

Why buy ABSLI Vision LifeIncome Plus Plan?

ABSLI Vision LifeIncome Plus Plan that provides the benefit of a comprehensive life insurance cover for your entire lifetime till age 100 along with a regular income to ensure fulfilment of your family’s growing needs. It also offers flexible bonus payouts which can be accumulated to build a corpus for your family’s future or availed in cash to provide for their comfortable lifestyle today.

Key Features

Choice of 3 Benefit Options: Flexibility to choose amongst 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 Income: A regular flow of guaranteed income for your chosen Benefit Payout Period to safeguard your savings.

Flexible Bonus Payouts: Complete flexibility to receive Paid Up Additions in cash from the end of the first policy year onwards – for immediate liquidity or accumulate them as Paid Up Additions till policy maturity – for long term wealth creation.

Policy Continuance Benefit*: 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: Option to enhance Your insurance cover through riders, which are available at a nominal extra cost.

Policy Contract

Benefits of ABSLI Vision LifeIncome Plus Plan

Survival Benefit

Provided the policy is in-force and all due premiums under the policy have been paid, We will pay the following Guaranteed Income Benefit:?

Short Term Income:
On completion of the Premium Payment Term, a Guaranteed Income Benefit of 1% of Sum Assured will be payable to You at the beginning of every month during the Benefit Payout Period till the end of Policy Term. All the monthly pay out transactions would be effected on date specific to policy anniversary date i.e. monthly anniversary.
Long Term Income:
On survival of the Life Insured till the end of Premium Payment Term, a Guaranteed Income Benefit as a pre-defined percentage of Sum Assured, will be payable to You at the end of each policy year during the chosen Benefit Payout Period
Whole Life Income:
On survival of the Life Insured till the end of Premium Payment Term, a Guaranteed Income Benefit as a pre-defined percentage of Sum Assured, will be payable to You at the end of each year during the chosen Benefit Payout Period.
For more details, refer to the product brochure.

Maturity Benefit

On survival of the Life Insured till the end of the Policy Term provided the Policy is in-force and all due Installment Premiums under the Policy have been paid, the following will be payable:
a. Accrued Paid Up Additions (if any)
b. Terminal bonus (if any)
Under ‘Whole Life Income’ Benefit Option, in addition to the above, Sum Assured will be payable at the end of the Policy Term.

Death Benefit

Short Term Income:
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 following to Your nominee(s)/beneficiary(ies):
a. Sum Assured on Death; and,
b. Policy Continuance Benefit
Long Term Income:
In the event of death of the Life Insured during the Policy Term, provided that the Policy is in-force and not under Lapsed or Reduced Paid Up mode, We will pay the following to Your nominee(s)/beneficiary(ies):
a. Sum Assured on Death; and,
b. Accrued Paid Up Additions (if any); and,
c. Terminal Bonus (if any)

On payment of Death Benefit, the policy will terminate and no future benefits will be payable.
Whole Life Income:
In the event of death of the Life Insured during the Policy Term, provided that the Policy is in-force and not under Lapsed or Reduced Paid Up mode, We will pay the following to Your nominee(s)/beneficiary(ies):
d. Sum Assured on Death; and,
e. Accrued Paid Up Additions (if any); and,
f. Terminal Bonus (if any)

On payment of Death Benefit, the policy will terminate and no future benefits will be payable
For all the three Benefit Options, Sum Assured on Death shall be defined as higher of the following:

Sum Assured
11 times the Annualized Premium
105% of Total Premiums paid till the date of death

For more details, refer to the product brochure

Bonus

Paid Up Additions
The Company will distribute future profits (if any), by declaring bonuses in the form of Paid Up Additions every year, which will be expressed as a percentage of the Sum Assured, every Policy Year, starting from the end of the first Policy Year.
Interim Bonus
We may pay an Interim Bonus (if any), in case of death of the Life Insured, Surrender or maturity before the latest declared bonus rates would have come into effect.
**Terminal Bonus: **
If the first five Policy Years have been completed and the Policy is in-force and all due Installment Premiums under the Policy have been paid, We shall pay a Terminal Bonus, if any. Such terminal bonus is payable on earlier of death of the Life Insured, Surrender or maturity.
For more details, refer to the product brochure.

Riders

For added protection, You can enhance Your risk coverage during the Policy Term by adding following riders at a nominal extra cost.

ABSLI Accidental Death Benefit Rider Plus

(UIN: 109B023V02)

provides 100% of Rider Sum Assured as an additional lump sum amount in case of death due to accident of Life Insured. Additionally, the rider premiums collected aﬅer the date of Accident till date of death, shall be refunded with interest, along with death benefit payable. This rider is only applicable for a Life Insured aged 18 years & above and the rider Policy Term cannot exceed the base Policy Term. For further details, please refer to respective rider brochure(s) available on our website.

ABSLI Critical Illness Rider

(UIN: 109B019V03)

provides lump sum on survival of 30 days from the date of diagnosis of any of the specified critical illnesses. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term. For further details, please refer to respective rider brochure(s) available on our website.

ABSLI Surgical Care Rider

(UIN: 109B015V03)

provides lump sum benefit in case of hospitalization for a minimum period of 24 hours for undergoing medically necessary surgery in India. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term. For further details, please refer to respective rider brochure(s) available on our website.

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. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term. For further details, please refer to respective rider brochure(s) available on our website.

ABSLI Waiver of Premium Rider

(UIN: 109B017V03)

waives off all future premiums of the base plan and the attached riders throughout the rest of the premium payment in case of diagnosis of Critical Illness, Disability or Death (only if Life Insured is a minor i.e. below 18 years of age and is different from the Policyholder).
For further details, please refer to respective rider brochure(s) available on our website.

Product Specifications

Type of Plan

A Non-Linked Participating Individual Life Insurance 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:

Short Term Income
Long Term Income
Whole Life Income

The Benefit Option once chosen cannot be changed thereafter.

Premium Payment Term (PPT)

8 years | 10 years | 12 years | 15 years

Benefit Payout Period

Benefit Payout Period commences after the end of the Premium Payment Term (PPT), during which Survival Benefit, as defined in the ‘Your Benefit’ section, is payable.

The following table provides the Benefit Payout Period applicable basis the Benefit Option chosen by You:

Your Benefit Option	Your Benefit Payout Period
Short Term Income	10 years
Long Term Income	20 years \| 25 years \| 30 years
Whole Life Income	Coverage till Age 85: 85 less (Age at entry + PPT), subject to a maximum of 30 years,
Whole Life Income	Coverage till Age 100: 100 less (Age at entry + PPT), subject to a maximum of 30 years

The Benefit Payout Period once chosen at policy inception, cannot be changed thereafter.

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:

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

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

Minimum

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

Short Term Income

60 years

Long Term Income

55 years

Whole Life Income

55 years

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

Benefit Option Name	Premium Payment Term (years)	Minimum Maturity Age (years)	Maximum Maturity Age (years)
Short Term Income	8	18	78
	10	20	80
	12	22	82
	15	25	85
Long Term Income	8	28	83
		33	85
		38	85
	10	30	85
		35	85
		40	85
	12	32	85
		37	85
		42	85
	15	35	85
		40	85
		45	85
Whole Life Income	8, 10, 12, 15	85	85
Whole Life Income	8, 10, 12, 15	100	100

Minimum Annualized Premium

Rs. 50,000

Maximum Annualized Premium

No Limit (subject to Board Approved Underwriting Policy)

Premium Payment Frequency and Frequency Loadings

Annual | Semi-Annual | Quarterly | Monthly

Frequency	Annual	Semi-annual	Quarterly	Monthly
Modal Factors	0.0%	2.0%	3.0%	4.0%

Benefit Payout Frequency

Annual | Monthly

Minimum Sum Assured

Rs. 2,00,000

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
Annualized Premium (Rs.)	50,000 to 99,999	1,00,000 to 1,99,999	2,00,000 to 4,99,999	5,00,000 +

How does ABSLI Vision LifeIncome Plus Plan Work?

Use Case 1

Use Case 2

Use Case 3

Mr. Sharma, aged 35 years, invests in ABSLI Vision LifeIncome Plus Plan and chooses the following at inception:
Benefit Option: Short Term Income, Annualized Premium: Rs. 100,000 p.a, Premium Payment Term: 10 years,
Benefit Payout Period: 10 years, Policy Term: 20 years, Benefit Payout Frequency: Monthly, Sum Assured: Rs. 10,09,800 Bonus Utilization Option: Paid Up Additions

Mr. Sharma survives through the Policy Term and receives Guaranteed Income Benefit throughout the Benefit Payout Period.

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

More About Claims

^*Available with ‘Short Term Income’ Option only
¹Mr. Sharma, aged 35 years, invests in ABSLI Vision LifeIncome Plus Plan and chooses the following at inception:
Benefit Option: ‘Long Term Income’ , Annualized Premium: Rs. 100,000 p.a. , Premium Payment Term: 10 years, Benefit Payout Period: 20 years, Policy Term: 30 years, Benefit Payout Frequency: Annual, Sum Assured: Rs. 6,45,270, Bonus Utilization Option: Paid Up Additions. Mr. Sharma survives through the Policy Term and receives Guaranteed Income Benefit throughout the Benefit Payout Period. He receives Lumpsum of Rs.3,71,029 @4% and Rs. 25,35,903 @8% at maturity.
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 off¬ers 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 diff¬erent 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. Premiums are exclusive of GST.
Tax benefits are subject to changes in the tax laws. 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.
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). It is a 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.
This brochure contains only the salient features of the plan. It does not purport to be a contract of insurance and does not in any way create any rights and/or obligations. All the benefits are payable subject to the terms and conditions of the Policy.
This product shall also be available for sales through online channel.
All policy benefits are subject to policy being in force.
“We”, “Us”, “Our” or “the Company” or “ABSLI” means Aditya Birla Sun Life Insurance Company Limited. “You” or “Your” means the Policyholder.
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.
UIN: 109N131V02

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