ABSLI Vision LifeIncome Plus Plan
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?
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Whole life cover up to age 100
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Guaranteed regular income
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Cash-in-hand option
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Flexible Bonus Payouts
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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.
Make ABSLI Vision LifeIncome Plus Plan Wider with Riders
Buy rider covers to expand the basic savings plan
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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.
- 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
- Minimum Annualized Premium:
Rs. 50,000 - Maximum Annualised Premium:
No Limit (subject to Board Approved Underwriting Policy) - 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.
- 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/-
- Mr. Sharma aged 35 years invested in ABSLI Vision Life Income Plus Plan and chose the following at the inception. Benefit Option: ‘Long Term Income’| Annualized Premium :Rs.100,000 per annum| Premium Payment Term :10 years| Benefit Payout Period: 20 years |Policy Term: 30 years |Benefit Payout Frequency: Annual| Sum Assured Rs.645,278| Bonus Utilization Option: Paid Up Addition.
- Mr. Sharma survived the policy term and received the guaranteed income benefit throughout the benefit payout period. Assumed Additions at 8% and 4%.
- Total guaranteed income for 20 years will be Rs.10,96,973/-. Guaranteed annual income for fixed 20 years as 8.50% of sum assured is Rs.54,849/-.
- Lump sum at policy maturity will be equals to last guaranteed income benefit Rs.54,849/-+ Accrued paid up additions @8% Rs.580,751| @4% Rs.0+ Terminal Bonus @8% Rs.19,55,194| @4% Rs.371,035/-.
- Mr. Sharma, aged 35 years invested in ABSLI Vision Life Income Plus Plan for whole life income benefit option. These were the conditions at the inception: Coverage Till: Age100 years| Annualized Premium: Rs.100,000 p.a| Premium Payment Term :10 years| Benefit Payout Period:30 years| Policy Term:65 years| Benefit Payout Period:Annual| Sum Assured: Rs.13,19,001| Bonus Utilization Option: Paid Up Additions.
- Mr. Sharma survived the policy term and received guaranteed income benefit throughout the benefit payout period.
- Total Guaranteed Income for 30 years Rs.10,36,735/-. Guaranteed annual income for 30 years as 2.62% of sum assured Rs.34,558/-p.a.
- Lump Sum at policy maturity is sum assured Rs.13,19,001+ Accrued paid up additions @8% Rs.134,53,808| @4% Rs.0 +Terminal Bonus @8% Rs.40,83,626| @4%459,012.
Sure of buying savings plan?
What’s not Covered?
The plan covers you broadly but not for this:
— If the life insured dies within 12 months of the commencement of the policy or after the revival of the policy, the cover shall cease 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
Vision LifeIncome Plus Plan FAQs
Quick way to get deep into the What, How, and Why of savings plans.
- Choice of 3 Benefit Options: The plan gives you flexibility to choose from 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 Regular Income: A regular flow of guaranteed income for the number of years you choose.
- Cash-in-hand even while paying premiums: Complete flexibility to receive paid-up additions in cash from the end of the first policy year onwards – for immediate liquidity. You can also accumulate the bonus as paid-up additions and withdraw when you need it.
- Life cover up to a maximum of age 100: Get covered for life with a life insurance cover that lasts until your 100th birthday.
- Waiver of Premiums: 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: Increase your insurance cover through riders, which are available at a nominal extra cost.
- 30 days to 60 years for Short Term Income Option
- 30 days to 55 years for Long Term Income Option
- Short Term Income – Get Guaranteed Income after Premium Payment Term for 10 years
- Long Term Income – Get Guaranteed Income after Premium Payment Term for 20, 25 or 30 years
- Whole Life Income – Get Guaranteed Income after Premium Payment Term till Age 100 or till Age 85 years (subject to max 30 years)
The Maximum maturity under ABSLI Vision LifeIncome Plus is:
|
Benefit Option Type |
Maximum Maturity Age |
|
Short Term Income |
85 years |
|
Long Term Income |
85 years |
|
Whole Life Income |
85 years | 100 years |
- Paid Up Additions (PUA): Bonuses in the form of Paid Up Additions (if any), will accumulate under the policy from the end of the 1st policy year and onwards.
- Cash Value of Paid Up Additions (PUA): You can opt to take a Cash Value of Paid Up Additions (if any), which will be payable to you every year from the end of the 1st policy year and onwards.
1. Where the Policy has acquired the Surrender Value, higher of Surrender Value or (Sum of all Premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes) till date of death.
2. Where the Policy hasn’t acquired the surrender value, sum of all premiums paid plus underwriting extra premiums plus loadings for modal premiums paid excluding applicable taxes) till date of death.
Other Insurance Plans
Guaranteed Returns
Loan against policy for emergency situation
Flexibility of Investment Amount and Policy Term
Long term regular income for 20, 25 or 30 years
Fully Guaranteed Returns on your investment
Loyalty Additions
Loyalty Additions to boost maturity corpus
Comprehensive life insurance cover
Option to cover your spouse by choosing Joint Life Protection
Whole life cover up to age 100
Short premium paying term available
Income for whole life
Commutation Option
Loyalty Additions
Customizable Benefits
Income Booster of 5% of the accrued amount each year
Loyalty additions
Enjoy a 10% additional benefit on total premiums paid
Inbuilt accidental death benefit
No medical tests required
Easy and convenient to buy
Comprehensive financial protection of your family
Accrued regular bonuses to augment your savings
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Disclaimer
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
