Build a Legacy with Steady Income and Comprehensive Protection
The ABSLI Vision LifeIncome Plan offers a secure way to create a financial legacy with steady income and comprehensive protection for you and your family.
Key Benefits:
- Income for Life: Receive 5% of the Sum Assured guaranteed plus bonuses every year after the Premium Paying Term.
- Whole Life Cover: Comprehensive protection up to age 100.
- Rider Options: Enhance your coverage with optional riders.
- Tax Benefits: Eligible for tax benefits under Section 80C, 80D, and Section 10(10D) of the Income Tax Act, 1961.
Illustration: Invest ₹1.62 lakh annually for 8 years and receive ₹50.30 lakhs @ 4% or ₹87.04 lakhs @ 8% at maturity.
Plan Details:
Eligibility Criteria:
- Entry Age: 30 days to 60 years
- Policy Term: Whole Life to Age 100
- Premium Paying Term (PPT): 8, 10, 12, 15 to 40 years
- Minimum Age at End of PPT: 18 years
- Maximum Age at End of PPT: 75 years
- Minimum Sum Assured: ₹2,00,000
- Minimum Premium:
- For PPT 8, 10, 12 years: ₹25,000 p.a.
- For PPT 15 to 40 years: ₹3,880 p.a.
- Premium Frequency: Annual, Semi-annual, Quarterly, Monthly
Sum Assured Bands:
- Band 1: ₹2,00,000 to ₹3,99,999
- Band 2: ₹4,00,000 to ₹7,99,999
- Band 3: ₹8,00,000 +
How the Plan Works:
- Guaranteed Benefits: Certain benefits are guaranteed, such as a fixed percentage of the Sum Assured and bonuses.
- Variable Benefits: Benefits like survival and maturity benefits depend on future investment performance and are illustrated at assumed rates of 4% and 8%.
Example Illustration:
For a 35-year-old male with an annual premium of ₹21,603, paying for 15 years, and a Sum Assured of ₹2,50,000:
| Policy Year | Annualized Premiums Paid | Guaranteed Benefits | Non-Guaranteed Benefits | Total Benefits at 4% p.a. | Total Benefits at 8% p.a. |
|---|---|---|---|---|---|
| 1 | ₹21,603 | ₹2,50,000 | ₹375 | ₹2,50,375 | ₹2,60,750 |
| 2 | ₹43,205 | ₹2,50,000 | ₹750 | ₹2,50,750 | ₹2,71,500 |
| 3 | ₹64,808 | ₹2,50,000 | ₹1,125 | ₹2,51,125 | ₹2,82,250 |
| … | … | … | … | … | … |
| 15 | ₹3,24,038 | ₹3,30,032 | ₹5,625 | ₹3,35,657 | ₹4,91,282 |
Premiums exclude extra premiums, frequency loadings, rider premiums, and taxes.
Exclusions:
- In the event of death by suicide within 12 months of policy commencement or revival, the payout is limited to the total premiums paid or the surrender value, whichever is higher.
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