Securing your life goals with regular payouts is just a step away.
The ABSLI Vision MoneyBack Plus Plan is a money-back insurance plan that offers regular income to meet your financial needs, along with a substantial life cover to protect against any unfortunate events.
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ABSLI Vision MoneyBack Plus Plan (Savings Plan)
Key Features
- Guaranteed1 Regular Payouts: Enjoy consistent payouts as part of your plan.
- Option to Defer and Enhance Payouts: Flexibility to adjust payouts according to your needs.
- Multiple Riders for Enhanced Protection: Choose from a range of riders for added security.
- Tax Benefits2: Avail tax benefits under applicable sections of the Income Tax Act.
Plan Options
- Option 1: 10-year pay / 20-year cover – Payout every 4th year
- Option 2: 10-year pay / 20-year cover – Payout every 5th year
- Option 3: 12-year pay / 24-year cover – Payout every 4th year
- Option 4: 12-year pay / 25-year cover – Payout every 5th year
Benefits
Guaranteed Survival Benefit With this money-back insurance policy, the life insured will receive a percentage of the Sum Assured as money-back every 4th or 5th year, as selected at the policy’s inception. These survival benefits 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% |
Death Benefit In the unfortunate event of the life insured’s death during the policy term, the nominee will receive the Sum Assured on death, plus accrued regular bonuses as of the date of death, along with a terminal bonus (if any).
Maturity Benefit If the life insured survives to the end of the policy term, the policyholder will receive all accrued bonuses till date, plus a terminal bonus (if any). The policy will terminate once the maturity benefit is paid.
Riders For added protection, you can enhance your insurance coverage by adding riders at 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)
Tax Benefits This plan offers tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961, as per the prevailing tax laws. Tax benefits are subject to changes, so please consult your tax advisor for more details.
FAQs
- What sum is assured on death?
- Can I change the premium mode?
- What happens if I survive the policy term?
- What is so special about this plan?
- Why should I buy this policy?
- What are accrued bonuses?
- What is terminal bonus?
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