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In today’s world with growing responsibilities we try to plan for all of life’s important stages and milestones. And, to supplement these efforts we sometimes wish for an extra source of regular income.

Benefits of ABSLI Vision Life Income Plan

Survival Benefit
In the event the life insured survives to the end of the premium paying term, the policy holder will receive accrued bonuses till date. If he/she survives to the end of each subsequent policy year, he/she will be paid Income Benefit of 5.0% of Sum Assured plus bonus from current policy year.
 
Maturity Benefit
In the event the life insured survives to the end of the policy term, the policyholder will receive the sum Assured and Terminal Bonus (if any).
 
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(1); plus
Accrued bonuses as of date of death(2); 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(1); plus
Bonus from the current policy year (3); plus
Terminal bonus (if any)

In case where the death of the Life Insured takes place prior to the risk commencement date, only the basic premiums paid to date (excluding service tax, if any ) shall be payable as the Death Benefit.

In case of death of the life insured, if the life insured is different from the policyholder, the policyholder will receive the death benefit.


 
Additional Insurance Benefits

To enhance protection, ABSLI Vision LifeIncome Plan offers the following riders at a nominal extra cost.

  • ABSLI Accidental Death and Disability Rider (UIN: 109B018V03)
  • ABSLI Critical Illness Rider (UIN: 109B019V03)
  • ABSLI Surgical Care Rider (UIN: 109B015V03)
  • ABSLI Hospital Care Rider (UIN: 109B016V03)
  • ABSLI Waiver of Premium Rider (UIN: 109B017V02)
  • ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V01)

Please refer to the brochure on riders. You may consult your financial advisor or visit our website for further details.
 
Tax Benefits
As per extant tax laws, this plan offers tax benefits under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 1961, subject to fulfilment of the other conditions of the respective sections prescribed therein.

Tax benefits are subject to changes in the tax laws, you are advised to consult your tax advisor for details.
 
You are advised to consult your tax advisor for details. Tax benefits are subject to changes in the tax laws.
 
For more details on the above mentioned benefits, please refer to the product brochure.

 

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. Service Tax and Education Cess 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. Registered Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841 Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. Registration no. 109 VER3/JUNE/2017

IRDAI clarifies to the public that IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDAI does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call number.

Unique No. 109N079V04