Why Buy ABSLI Vision LifeIncome Plan?
The ABSLI Vision LifeIncome Plan is ideal for those seeking secure savings, a steady income until age 100, and comprehensive financial protection for their family.
The ABSLI Vision LifeIncome Plan offers:
- Income for Life: Receive 5% of the Sum Assured, guaranteed plus bonus, each year after the Premium Paying Term ends.
- Safety for Your Loved Ones: Provide comprehensive financial protection with whole life cover up to age 100.
- Rider Option: Enhance your insurance coverage during the policy term by adding riders.
- Tax Benefits: Enjoy tax benefits under Section 80C, 80D, and Section 10(10D)** of the Income Tax Act, 1961.
Brochure | Policy Contract | Leaflet
Benefits of ABSLI Vision LifeIncome Plan
Riders
Eligibility Criteria
- Entry Age (age last birthday): 30 days* – 60 years
- Policy Term: Whole Life to Age 100
- Premium Paying Term: 8 years | 10 years | 12 years | 15 to 40 years
- Minimum: Attained Age at end of Premium Paying Term is 18 or more
- Maximum: Attained Age at end of Premium Paying Term is 75 or less
- Minimum Sum Assured: Rs. 200,000
- Minimum Premium:
- For PPT 8 | 10 | 12 years: Rs. 25,000 per annum
- For PPT 15 to 40 years: Rs. 3,880 per annum
- Premium Frequency: Annual, Semi-annual, Quarterly, Monthly
*Risk commences from the first policy anniversary.
At inception, you must select the Sum Assured, which represents the life cover for the entire policy term. Your premium will depend on the Sum Assured you choose. The Sum Assured is banded as follows:
Sum Assured Band
- Band 1: Rs. 200,000 to Rs. 399,999
- Band 2: Rs. 400,000 to Rs. 799,999
- Band 3: Rs. 800,000 and above
How Does ABSLI Vision LifeIncome Plan Work?
Some benefits are guaranteed, while others are variable, based on bonuses from future performance of the participating business and economic conditions. Guaranteed benefits will be marked “guaranteed” in the illustration table. Variable benefits are illustrated with assumed future investment return rates of 4% and 8%. These assumed rates are not guaranteed and do not represent the upper or lower limits of potential returns, as the policy value depends on various factors, including future investment performance. The illustration below shows that the Sum Assured is fully guaranteed. The Total Death Benefit is not guaranteed and is determined using assumed future investment returns of 4% and 8%, as set by the Life Insurance Council.
Example
- Entry Age: 35 years
- Annualized Premium: Rs. 21,603
- Gender: Male
- Premium Paying Term: 15 years
- Policy Term: Whole Life to age 100
- Payment Frequency: Yearly
- Sum Assured: Rs. 250,000
Policy Year End
| Year | Annualized Premium | Paid to Date | Guaranteed Benefits | Non-Guaranteed Benefits | Total Benefits | Death Benefit | Survival Benefit | Maturity Benefit | Reversionary Bonus | Cash Bonus | Death Benefit at 4% p.a. | Death Benefit at 8% p.a. | Maturity Benefit at 4% p.a. | Maturity Benefit at 8% p.a. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 21,603 | 250,000 | – | – | 375 | 10,750 | – | – | 250,375 | 260,750 | – | – | 250,375 | 260,750 |
| 2 | 43,205 | 250,000 | – | – | 750 | 21,500 | – | – | 250,750 | 271,500 | – | – | 250,750 | 271,500 |
| 3 | 64,808 | 250,000 | – | – | 1,125 | 32,250 | – | – | 251,125 | 282,250 | – | – | 251,125 | 282,250 |
| 4 | 86,410 | 250,000 | – | – | 1,500 | 43,000 | – | – | 251,500 | 293,000 | – | – | 251,500 | 293,000 |
| 5 | 108,013 | 250,000 | – | – | 1,875 | 53,750 | – | – | 251,875 | 303,750 | – | – | 251,875 | 303,750 |
| 6 | 129,615 | 250,000 | – | – | 2,250 | 64,500 | – | – | 252,250 | 314,500 | – | – | 252,250 | 314,500 |
| 7 | 151,218 | 250,000 | – | – | 2,625 | 75,250 | – | – | 252,625 | 325,250 | – | – | 252,625 | 325,250 |
| 8 | 172,820 | 250,000 | – | – | 3,000 | 86,000 | – | – | 253,000 | 336,000 | – | – | 253,000 | 336,000 |
| 9 | 194,423 | 250,000 | – | – | 3,375 | 96,750 | – | – | 253,375 | 346,750 | – | – | 253,375 | 346,750 |
| 10 | 216,025 | 250,000 | – | – | 3,750 | 107,500 | – | – | 253,750 | 357,500 | – | – | 253,750 | 357,500 |
| 15 | 324,038 | 330,032 | – | – | 5,625 | 161,250 | 5,625 | 161,250 | 335,657 | 491,282 | – | – | 335,657 | 491,282 |
| 16 to 64 | 324,038 | 330,032 | 12,500 | – | – | 375 | 10,750 | 330,407 | 340,782 | – | – | – | 330,407 | 340,782 |
| 65 | 324,038 | 330,032 | 12,500 | 330,026 | – | 375 | 10,750 | 330,407 | 340,782 | 411,276 | 411,276 | 411,276 | 411,276 | 411,276 |
Premiums exclude underwriting extra premiums, frequency loadings on premiums, premiums paid towards riders, if any, and Goods and Service Tax. This is not a benefit illustration. For the complete benefit illustration, please visit our website or consult your financial advisor.
Exclusions: In the event of suicide within 12 months from the commencement of risk or policy revival, we will pay the total premiums paid to date or the surrender value, whichever is higher, provided the policy is in force.
How to Initiate a Claim?
3 Quick Steps (All Online):
- Fill Basic Details
- Claim Intimation
- Document Submission
MORE ABOUT CLAIMS
Vision LifeIncome Plan FAQs
- What is ABSLI Vision LifeIncome Plan?
The ABSLI Vision LifeIncome Plan is a traditional participating insurance plan that combines regular guaranteed payouts, long-term savings, and life insurance benefits. It offers a three-in-one solution with guaranteed regular income, bonus accumulation, and life insurance benefit. - What is the Minimum and Maximum Premium to be Paid?
The ABSLI Vision LifeIncome Plan is a Sum Assured-based plan. The premium amount depends on gender, entry age, Sum Assured, premium paying mode, and payment