Aditya Birla Sun Life Insurance Company Limited

Find term beginning with the letter V...

Get the meaning of Insurance term simply by searching the term or by looking for by letter

Vesting Age

The age at which the insured starts to receive the pension is called the vesting age. Once the vesting age is reached, the policy begins to release the annuity payout amount in the frequency mentioned in the policy.

4 | 1 Rating

Variable Life Insurance

A variable life insurance policy is a contract between the insured and the insurance company. It is a permanent life insurance policy with an investment component.

4 | 1 Rating

Vested Bonus

A vested bonus is a bonus issued by the insurance company after realising its assets and liabilities.

4 | 1 Rating

Void Contract

A formal agreement between the two parties or more that is ineffective and unenforceable for the moment is called a void contract. Once an insurance policy is void, the contract loses its legal validity.

4 | 1 Rating

Back to Insurance Dictionary

Newly Added Terms

Death Benefit

Insurability

Settlement Option

Most Appreciated Terms

Absolute Assignment

Death Benefits

Insurability

Buy ₹1 Crore Term Insurance at Just ₹508/month^*

ABSLI Salaried Term Plan

Exclusively For Salaried Individuals

4 Plan Options

Life Cover upto 70 years

Optional Accelerated Critical Illness benefit

Inbuilt Terminal Illness Benefit

Life Cover
₹1 crore

Premium:
₹508/month^*

BUY ONLINE

Know More

Most Popular Calculator

Income Tax Calculator

Term Insurance Premium Calculator

Child Future Planning Calculator

Human Life Value Calculator

Retirement Calculator

Wealth Calculator

Popular Searches

Professional Tax IRDA Term Insurance TAT Full Form Post Office Savings Scheme Insurance Carrier TPA Full Form Insurer meaning Life Insurance Safe Investments with High Returns in India

ABSLI Nishchit Aayush Plan. This is a non-linked non-participating individual savings life insurance plan. UIN No 109N137V06
^ - Provided 0 year deferment & monthly income frequency is chosen at the time of inception of the policy.
~ Male- 25 yrs invests in ABSLI Nishchit Aayush Plan with Level Income + Lumpsum Benefit. He chooses premium payment term 10 yrs , policy term 40 years, benefit option -Long Term Income, Sum Assured 7 times of Annualized Premium and Deferment Period 0 years. Annualized Premium is ₹1,20,000 (Exclusive of GST.). Annual Income of ₹45,900 (45,900*40=18,36,000) + Maturity Benefit (₹16,80,000)= ₹35,16,000

I agree to the Terms of Usage and Privacy Policy and by submitting my contact details here, I override my NDNC registration and authorize ABSLI and its authorized representatives to contact me by phone/e-mail/SMS/WhatsApp for further assistance and information about this proposal and resulting insurance policy.
Disclaimer : ABSLI Nishchit Aayush Plan (UIN No 109N137V12) is a non-linked non-participating individual savings life insurance plan.
^ Provided 0 year deferment & Annually in Advance payout frequency is chosen at the time of inception of the policy. Annually in Advance payout frequency is only available in "Annual" premium payment mode. ^*Male- 25 yrs invests in ABSLI Nishchit Aayush Plan with Level Income + Lumpsum Benefit. He chooses premium payment term 10 yrs , policy term 40 years, benefit option -Long Term Income, Sum Assured 7 times of Annualized Premium and Deferment Period 0 years. Annualized Premium is ₹1,00,000 (Exclusive of GST.). Annual Income of ₹ 32,750 (32,750*40=  13,10,000) + Maturity Benefit (₹20,00,000)= ₹ 33,10,000 ADV/3/24-25/3076.