Key Features
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Guaranteed1 regular payouts
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Option to defer and enhance payouts
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Multiple riders for enhanced protection
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Tax benefits2
Plan Options
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Option 1 – 10-year pay / 20-year cover – Payout every 4th year
Year when Guaranteed Survival Benefit is due Guaranteed Survival Benefit (% of SA)
Year till the Guaranteed Survival Benefit is deferred/Enhanced Guaranteed Survival Benefit 4th 8th 12th 16th 20th 4th 10% 10% 12% 15% 19% 23% 8th 15% NA 15% 18% 23% 28% 12th 20% NA NA 20% 24% 30% 16th 25% NA NA NA 25% 30% 20th 30% NA NA NA NA 30%
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Option 2 – 10-year pay / 20-year cover – Payout every 5th year
Year when Guaranteed Survival Benefit is due Guaranteed Survival Benefit (% of SA)
Year till the Guaranteed Survival Benefit is deferred/Enhanced Guaranteed Survival Benefit 5th 10th 15th 20th 5th 15% 15% 20% 15% 33% 10th 20% NA 20% 25% 33% 15th 25% NA NA 25% 33% 20th 40% NA NA NA 40%
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Option 3 – 12-year pay / 24-year cover – Payout every 4th year
Year when Guaranteed Survival Benefit is due Guaranteed Survival Benefit (% of SA)
Year till the Guaranteed Survival Benefit is deferred/Enhanced Guaranteed Survival Benefit 4th 8th 12th 16th 20th 24th 4th 10% 10% 12% 15% 19% 23% 29% 8th 15% NA 15% 18% 23% 28% 35% 12th 20% NA NA 20% 24% 30% 37% 16th 25% NA NA NA 25% 30% 37% 20th 30% NA NA NA NA 30% 37% 24th 35% NA NA NA NA NA 35%
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Option 4 – 12-year pay / 25year cover – Payout every 5th year
Year when Guaranteed Survival Benefit is due Guaranteed Survival Benefit (% of SA)
Year till the Guaranteed Survival Benefit is deferred/Enhanced Guaranteed Survival Benefit 5th 10th 15th 20th 25th 5th 15% 15% 20% 25% 33% 43% 10th 20% NA 20% 25% 33% 43% 15th 25% NA NA 25% 33% 43% 20th 30% NA NA NA 30% 39% 25th 45% NA NA NA NA 45%
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Guaranteed Survival benefit
With this money-back insurance policy, the life insured will receive the money-back as a percentage of Sum Assured every 4th or 5th year, as selected during the policy inception as a survival benefit. These benefits will continue throughout the policy term as long as the life insured survives.
Premium Paying Term / Policy Term Survival Benefit Year 10/20 12/24 4th 10% 10% 8th 15% 15% 12th 20% 20% 16th 25% 25% 20th 30% 30% 24th - 35%
Premium Paying Term / Policy Term Survival Benefit Year 10/20 12/25 5th 15% 15% 10th 20% 20% 15th 25% 25% 20th 40% 30% 25th - 45% Please refer product brochure for more details
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Death Benefit
In the unfortunate event of the death of the life insured during the policy term, the death benefit payable to the nominee will be Sum Assured on death plus accrued regular bonuses as of date of death, plus terminal bonus (if any).
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Maturity Benefit
In the event the life insured survives to the end of the policy term, you will be paid accrued bonuses till date, plus terminal bonus (if any). The policy shall be terminated once the maturity benefit is paid.
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Riders
For added protection, you can enhance your insurance coverage during the policy term by adding riders for 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: 109B017V03)
- ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02)
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Tax benefits
As per extant tax laws, this plan offers tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961. Tax benefits are subject to changes in tax laws. Please consult your tax advisor for more details.
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Entry Age (age last birthday)
13 – 45 years
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Policy Term
20, 24, 25 years
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Premium Paying Term
10 years for a 20 year policy term
12 years for 24 or 25-year policy terms
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Minimum Sum Assured
Rs. 1,00,000
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Premium Frequency
Annual, Semi-annual, Quarterly, Monthly
Risk commences from first policy anniversary.
FAQs
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What sum is assured on death?
In the unfortunate event of death of the life insured during the policy term, the death benefit payable shall be
- Sum Assured on Death; plus
- Accrued regular bonuses as on date of death; plus
- Terminal Bonus; if any
Sum Assured on Death shall always be higher of Sum Assured or 10 times of Annualized Premium.
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Can I change the premium mode?
You need to choose your premium mode at policy inception and can’t be changed later.
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What happens if I survive the policy term?
In the event the life insured survives till the end of the policy term, the policyholder shall be paid Sum Assured, plus accrued regular bonuses, plus Terminal Bonus (if any). The policy continues even after the Maturity Benefit is paid.
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What is so special about this plan?
The key benefits of the ABSLI Vision LifeSecure Plan are – Dual benefits of endowment and whole life plan.
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Why should I buy this policy?
You should buy this policy for following benefits.
- Comprehensive financial protection up to age 100
- Regular bonuses starting from first year
- Maturity benefit at end of policy term but life cover till age 100
- Minimum entry age is 30 days
- Tax Benefits1
1Tax benefits are subject to changes in the tax laws. You are advised to consult your tax advisor for the same.
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What are accrued bonuses?
ABSLI declares simple reversionary bonuses regularly at the end of each financial year and those will be accrued in the policy on its anniversary, upon surrender or on death. Bonuses once attached to the policy are payable along with the interim bonuses, as applicable on death, surrender or survival. In case of surrender the surrender value of the attached bonuses will be payable. The regular bonus rate declared by the company may vary from year to year and will depend on the actual experience regarding various factors and prevailing economic conditions. Future bonuses are, however, not guaranteed and will depend upon the future profits of the participating business.
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What is terminal bonus?
ABSLI may pay a terminal bonus at company’s discretion on death, or maturity, based on the actual experience and prevailing economic conditions.
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1Provided all due premiums are paid
2Tax benefits are subject to changes in tax laws. Please consult your tax advisor for the same
Disclaimer:
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a traditional participating life insurance plan. All terms & conditions are guaranteed throughout the policy term, except for the bonuses which would be declared at the end of each financial year. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. Some benefits are guaranteed and some benefits are variable with bonuses based on the future performance of the participating business and economic conditions. If your policy offers guaranteed returns then these will be clearly marked “guaranteed” in the illustration table on this page. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sale. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc. The insurance cover for the life insured (including minors) will commence on the policy issue date. For further details please refer to the policy contract. Tax benefits are subject to changes in the tax laws. 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. Aditya Birla Sun Life Insurance Company Limited Registered Office: One World Center Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. Call Centre No. 1800-270-7000. IRDAI Reg No. 109 www.adityabirlasunlifeinsurance.com CIN: U99999MH2000PLC128110 VER2/FEB/2020 UIN: 109N093V04
ADV/9/20-21/1152
