Why Buy ABSLI SecurePlus Plan?
Aditya Birla Sun Life Insurance SecurePlus Plan helps keep your income in pace with your needs and goals, securing your financial future.
Key Features
- Guaranteed² Income: Get a regular flow of guaranteed² income for your chosen Benefit Payout Period to safeguard your savings.
- Loyalty Additions: Additional boost to your Income Benefit payout.
- Commutation Option: Flexibility to receive a discounted value of future survival benefits as a lump sum based on your needs.
- Customizable Benefits: Option to enhance your insurance cover through riders, available at a nominal extra cost.
Benefits of ABSLI SecurePlus Plan
ABSLI SecurePlus Plan provides guaranteed² regular income for the long term in the future.
Enhance ABSLI SecurePlus Plan with Riders
Enhance your cover with Riders at a nominal additional premium.
How Does ABSLI SecurePlus Plan Work?
Use Case 1
- Mr. Sharma, aged 35 years, invested ₹1,00,000 per annum in ABSLI SecurePlus Plan.
- He chose a 12-year Premium Payment Term with a 13-year Policy Term and 12 years of Benefit Payout Period.
- His Sum Assured is ₹12,50,000.
- Mr. Sharma opts to receive his Income Benefit annually and survives through the Policy Term, receiving Income Benefits throughout the Benefit Payout Period.
Product Specifications
Type of Plan: A Non-Linked Non-Participating Individual Life Insurance Savings Plan
Coverage: All Individuals (Male | Female | Transgender)
Age of the Life Insured at Entry (age as on last birthday)
- Minimum: 1 year
- Maximum: 60 years
Maturity Age of the Life Insured (age as on last birthday)
- Minimum: 18 years
- Maximum: 77 years
Premium Payment Term (PPT), Policy Term (PT) and Benefit Payout Period
- 6 years: PPT | PT options of 6/7/8/9/10/11 years, Benefit Payout Period of 6/8/10/12 years
- 8 years: PPT | PT options of 8/9/10/11/12/13 years, Benefit Payout Period of 6/8/10/12 years
- 10 years: PPT | PT options of 10/11/12/13/14/15 years, Benefit Payout Period of 6/8/10/12 years
- 12 years: PPT | PT options of 12/13/14/15/16/17 years, Benefit Payout Period of 6/8/10/12 years
Note: The PPT and PT chosen at policy inception cannot be changed thereafter. The Benefit Payout Period commences after the end of the Policy Term and is chosen at policy inception.
Premium Payment Frequency and Modal Factors
- Annual: 0.0%
- Semi-annual: 3.5%
- Quarterly: 5.0%
- Monthly: 6.0%
Minimum Annualized Premium: Rs. 50,000
Maximum Annualized Premium: No Limit (subject to Board Approved Underwriting Policy)
Minimum Sum Assured: Rs. 3,50,000
Maximum Sum Assured: No Limit (subject to Board Approved Underwriting Policy)
Premium Bands:
- Band 1: ₹50,000 to ₹74,999
- Band 2: ₹75,000 to ₹1,49,999
- Band 3: ₹1,50,000 to ₹2,99,999
- Band 4: ₹3,00,000 to ₹4,99,999
- Band 5: ₹5,00,000 to ₹24,99,999
- Band 6: ₹25,00,000+
What’s Not Covered?
Suicide Exclusion: If the Life Insured dies by suicide within 12 months of the effective date of commencement of risk or the date of revival of policy, the policy shall terminate immediately. In such cases, the Company will pay the higher of the Surrender Value or Total Premiums Paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes.