Aditya Birla Sun Life Insurance Company Limited
Aditya Birla Sun Life Insurance Company Limited
ABSLI Vision LifeIncome Plus Plan
Whole Life Insurance with Guaranteed Regular Income
Life Cover Up to Age 100 years
Flexible Bonus Payouts
Give ₹50,000 for 8 years and Get ₹7.91 lakhs3
Why buy ABSLI Vision LifeIncome Plus Plan?
Whole life cover up to age 100
Guaranteed regular income
Cash-in-hand option
Flexible Bonus Payouts
Option to enhance your insurance cover through riders
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 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 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.
Make ABSLI Vision LifeIncome Plus Plan Wider with Riders
Buy rider covers to expand the basic savings plan
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.
ABSLI Critical Illness Rider
(UIN: 109B019V03)
Provides a lump sum on survival of 30 days from the date of diagnosis of any of the specified critical illnesses.
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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.
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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 |
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Minimum Annualized Premium: Rs. 50,000
-
Maximum Annualised Premium: No Limit (subject to Board Approved Underwriting Policy)
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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.
Use Case 1
Use Case 2
Use Case 3
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/-
Sure of buying savings plan?
Buy ABSLI Vision LifeIncome Plus Plan Now
How to initiate Claim?
3 quick steps, everything online.
Vision LifeIncome Plus Plan FAQs
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.
Other Insurance Plans
ABSLI Fixed Maturity Plan
ABSLI Fixed Maturity Plan is a life insurance savings plan which gives you a financial guarantee to fulfil your dreams while providing you with a life cover which safeguards your family in case of an eventuality.
ABSLI Assured Income Plus
Aditya Birla Sun Life Insurance Assured Income Plus provides the benefit of life insurance cover during the Policy Term and guaranteed income for 20, 25 or 30 years to ensure fulfilment of your family’s long term goals and aspirations.
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
