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ABSLI SecurePlus Plan

A traditional non-participating life insurance plan

As a responsible person, you always strive to provide the best for your family whether its security, stability or a better lifestyle. But no matter how well planned you are, economic instability can bring turbulent times and hamper your plans. The risk of income not keeping pace with your needs and aspirations will always remain. In times like these, a guaranteed income proves to be your savior.

Aditya Birla Sun Life Insurance SecurePlus Plan offers you a backup income opportunity that guarantees more than just income, it offers peace of mind. In time of crisis, neither you nor your family will have to sacrifice their needs and aspirations

Key Benefits

  • Flexibility to choose the amount you wish to pay every year
  • Flexibility to choose the Income Benefits
    Option A: if you want to receive Income Benefit equal to 100% to 600% of Annual Premium for 6 years
    Option B: if you want to receive Income Benefit equal to 200% of Annual Premium for 12 years
  • Inbuilt Accidental Death Benefit
  • Enhance your insurance with appropriate rider optionst

After the completion of the policy term, you will start receiving Income Benefit payouts at the end of each year during the Payment Period which are fully guaranteed.

Depending on the income benefit chosen at inception you will receive income payout during the payment period.

For Income Benefit Option A – Receive income increasing from 100% to 600% of annual premium at the end of each year

For Income Benefit Option B – Receive income of 200% of annual premium at the end of each year

During the policy term, Sum Assured on death will be paid to the nominee, which is higher of:

  • 10 times of the annual premium (excluding service tax and cess, any applicable rider premiums and underwriting extras, if any); or
  • 105% of the total premiums paid as on the date of death (excluding service tax and cess, any applicable rider premiums and underwriting extras, if any); or
  • Maturity Sum Assured(1); or
  • Sum Assured

(1)where Maturity Sum Assured is the commuted value of outstanding Income Benefit on maturity date.

In the event life insured dies due to an accident during the policy term after attaining age of 18 years; we shall pay an additional Sum Assured to the nominee as an Accidental Death Benefit, subject to a maximum limit of Rs.1 crore.

On maturity date, you can choose to receive the commuted value of the Income Benefit as a lumpsum.

The commuted value currently shall be calculated using a discounting rate of 9.00% per annum. This discounting rate is not guaranteed and is subject to change in future with prior IRDAI approval. Once the maturity benefit is paid, the policy shall be terminated. No Income Benefit shall be payable thereaer.

To know the commuted value for your policy you can get in touch with your advisor, or the nearest Branch Office.

Entry Age 5 years - 50 years (age last birthday)
Maximum Maturity Age 63 years (age last birthday)
Policy Term 13 years
Premium Paying Term 12 years
Minimum Premium Rs.50,000 p.a. for annual mode, Rs.36,000 p.a. for monthly mode
Payment Period • For Income Benefit Option A – 6 years (from the completion of policy term)
• For Income Benefit Option B – 12 years (from the completion of policy term)
Sum Assured* Sum Assured will be determined based on your entry age and the premium amount you commit to pay in a policy year
Minimum Sum Assured Rs.5,22,000
Premium Mode Annual | Monthly

*Please ask your financial advisor for an illustration applicable to your policy or refer to your policy contract for further details.

Lets take an example

Mr. G Ningappa, aged 35 years is a business owner in Mysore. He lives with his wife Mala and son Karthik. Mr. Ningappa dreams to provide for his family even in times of uncertainty. He wants to invest in such a plan that would

  • Give regular income to provide stability
  • A guarantee that the dreams of his family will be realized even if something happens to him
  • Income that keep pace with the growing needs of his family

If he chooses to invest in ABSLI SecurePlus Plan (Option B) with policy term of 13 years & premium paying term of 12 years (Annual pay).

Income Benefit = 2X the premiums paid yearly

If Mr. Ningappa pays an annual premium of Rs.1,00,000 (excluding GST) for 12 years, his Sum Assured will be Rs.16,00,000.

He is eligible to get the following benefits:

  • Income benefit i.e 2X the annual payout against the premium paid every year i.e. Rs.2,00,000 yearly for 12 years. Total income payout under this option is Rs.24,00,000
  • In the unfortunate event of his death anytime during the policy term, his nominee (wife Mala) shall receive a Death Benefit = Rs.16,00,000 (Sum Assured on Death). If the death happens in an accident, his wife will receive twice the sum assured = Rs.32,00,000 (Rs.16,00,000 + Rs.16,00,000)
  • In the unfortunate event of his death anytime during the Payment Period, his wife will receive remaining Income Benefit i.e. Rs.2,00,000 every year till the end of Payment Period
  • In case of an emergency during the Payment Period, he can opt for a commuted value of the outstanding Income as lump sum
Please click here to Download product brochure
Please click here to download policy contract

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating traditional insurance plan. All terms & conditions are guaranteed throughout the policy term. GST will be added (extra) to your premium and levied as per extant tax laws. For more details on risk factors, terms and conditions, please refer to the sales brochure before concluding the sale. Tax benefits are subject to changes in the tax laws. For more details and clarification call your ABSLI Insurance Advisor or visit our website. Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Registered Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI reg no.109 CIN: U99999MH2000PLC128110 ADV/8/18-19/3247 VER1/AUG/2018