ABSLI Vision LifeSecure Plan

About Aditya Birla Sun Life Insurance Vision LifeSecure Plan

The Aditya Birla Sun Life Insurance (ABSLI) Vision LifeSecure plan is a traditional participating whole life insurance plan. The plan provides long-term financial security for you and your family. With the flexibility to decide your policy term, the policyholder can enjoy life protection up to the age of 100 years along with steady growth in savings. Moreover, the plan provides maturity benefits, tax benefits, and additional protection through optional riders.

Let’s understand this plan in brief before getting into its details:

How Does the Plan Work?

The individual has to choose the sum assured. For your reference, the sum assured is banded as follows:

The individual then has to choose the policy term from between 15 and 35 years. The premium paying term is regular pay. On the survival of the policyholder throughout the policy term, s/he will receive the maturity benefits. At the event of the unfortunate death of the policyholder during the policy term, the beneficiary will be paid the death benefit.

Now, let’s understand the further actions of this plan with the help of various benefits offered.

Maturity Benefits

If the policyholder survives till the date of maturity and all the premiums are paid, the following maturity benefits will be paid:

• Sum assured
• Accrued regular bonuses
• Terminal bonus, if any

Note that the policy continues even after the maturity benefit is paid.

Death Benefits

In case of the unfortunate death of the policyholder during the policy term, the following death benefits will be paid to the beneficiary:

• Guaranteed death benefit (the higher of the sum assured or 10 times the annual premium)
• Accrued regular bonuses as on date of death
• Terminal bonus, if any

In cases where the death of the policyholder takes place prior to the risk commencement date, only the basic premiums paid to date will be paid as the death benefits. If the policyholder survives to the end of the policy term, the insurance cover will continue till the policyholder turns 100 years of age. In case of death during this period or survival to age 100, the guaranteed death benefit shall be payable.

Riders

The Aditya Birla Sun Life Insurance (ABSLI) Vision LifeSecure Plan offers the following riders:

• ABSLI Accidental Death and Disability rider
• ABSLI Critical Illness rider
• ABSLI Surgical Care rider
• ABSLI Hospital Care rider
• ABSLI Waiver of Premium rider
• ABSLI Accidental Death Benefit Plus rider

Why Should I Buy This Plan?

Besides the benefits mentioned earlier, here are some other features of the Aditya Birla Sun Life Insurance (ABSLI) Vision LifeSecure plan:

• Tax Benefits: Tax benefits can be availed under Section 80(C) and Section 10(10D) of the Income Tax Act, 1961
• Sum Assured Rebate: For higher sum assured, the plan offers rebates (discounts) on the premium paid, as follows:

• Loan Benefits: The policyholder has the flexibility to avail a loan against his/her policy in case of financial emergencies once the plan has acquired a surrender value.

Who Should Buy This Plan?

The eligibility criteria to purchase this plan is 30 days minimum age at entry and 60 years maximum age at entry. The Aditya Birla Sun Life Insurance (ABSLI) Vision LifeSecure plan proves to be an ideal plan because it accommodates your requirements for a comfortable today by asking for limited premiums, helps you fulfil your responsibilities, and helps even in your absence by offering high protection cover along with additional benefits.