Why Buy ABSLI SecurePlus Plan?
The Aditya Birla Sun Life Insurance (ABSLI) SecurePlus Plan is designed to ensure that your income keeps pace with your needs and goals, securing your financial future.
Key Features
- Guaranteed² Income: Receive a consistent flow of guaranteed² income during your chosen Benefit Payout Period to protect your savings.
- Loyalty Additions: Enjoy loyalty additions as an extra boost to your Income Benefit payout.
- Commutation Option: Offers the flexibility to receive the discounted value of future survival benefits as a lump sum, based on your needs.
- Customizable Benefits: Enhance your insurance cover with additional riders, available at a nominal extra cost.
Documents Available
- Brochure
- Leaflet
- Policy Contract
ABSLI SecurePlus Plan Benefits
- Guaranteed² Regular Income: The ABSLI Assured Income Plus benefits you with guaranteed² regular income for the long term in the future.
Enhance ABSLI SecurePlus Plan with Riders
- You can boost your cover with additional riders at a nominal extra premium.
How Does ABSLI SecurePlus Plan Work?
Use Case 1
Mr. Sharma, aged 35 years, chooses the ABSLI SecurePlus Plan and opts for a 12-year Premium Payment Term with a 13-year Policy Term and a 12-year Benefit Payout Period. He invests ₹1,00,000 per annum in the plan. He selects to receive his Income Benefit annually, with a Sum Assured of ₹12,50,000. Mr. Sharma survives through the Policy Term and receives Income Benefits throughout the Benefit Payout Period.
Purchase Options
- Buy ABSLI Assured Savings Plan Online: Secure your future with guaranteed income benefits by purchasing the ABSLI SecurePlus Plan online.
- Enquire Now: Learn more about the ABSLI SecurePlus Plan or start your purchase process.
- View Eligibility Criteria: Check your eligibility for the plan.
Product Specifications
- Type of Plan: A Non-Linked, Non-Participating Individual Life Insurance Savings Plan.
- Coverage: Available for all individuals (Male | Female | Transgender).
- Age of the Life Insured at Entry:
- Minimum: 1* year (*If the Life Insured is a minor, the policy will automatically vest once the life insured reaches the age of majority. Risk coverage starts from the policy issue date for minors.)
- Maximum: 60 years
- Maturity Age of the Life Insured:
- Minimum: 18 years
- Maximum: 77 years
Premium Payment Term (PPT), Policy Term (PT), and Benefit Payout Period
- Premium Payment Term (PPT) / Policy Term (PT) / Benefit Payout Period
- 6 years PPT / 6-11 years PT / 6-12 years Benefit Payout Period
- 8 years PPT / 8-13 years PT / 6-12 years Benefit Payout Period
- 10 years PPT / 10-15 years PT / 6-12 years Benefit Payout Period
- 12 years PPT / 12-17 years PT / 6-12 years Benefit Payout Period
Note:
- The PPT and PT selected at policy inception cannot be changed later.
- The Benefit Payout Period starts after the end of the Policy Term, during which the Survival Benefit is paid to the policyholder. It is selected at policy inception and cannot be changed later.
Premium Payment Frequency and Modal Factors
- Modes: Annual, Semi-Annual, Quarterly, Monthly
- Modal Factors:
- Annual: 0.0%
- Semi-Annual: 3.5%
- Quarterly: 5.0%
- Monthly: 6.0%
- Minimum Annualized Premium: ₹50,000
- Maximum Annualized Premium: No limit (subject to the Board Approved Underwriting Policy).
- Minimum Sum Assured: ₹3,50,000
- Maximum Sum Assured: No limit (subject to the 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 from the date of commencement of risk or the policy revival date, 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) if the policy has acquired a Surrender Value; or Total Premiums Paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes if the policy has not acquired a Surrender Value.
How to Initiate a Claim?
- Step 1: Fill in basic details
- Step 2: Claim intimation
- Step 3: Document submission
More About Claims
SecurePlus Plan FAQs
- What are the key features of ABSLI SecurePlus Plan?
- Guaranteed² Income: Regular flow of guaranteed² income for the chosen Benefit Payout Period to safeguard your savings.
- Loyalty Additions: Loyalty Additions as an additional boost to the Income Benefit payout.
- Commutation Option: Flexibility to receive a discounted value of future survival benefits as a lump sum, based on one’s needs.
- Customizable Benefits: Option to enhance the insurance cover through riders, which are available at a nominal extra cost.