ABSLI Vision LifeTime Income Plus Plan

Whole Life Insurance with Guaranteed Regular Income

• Life Cover Up to Age 100
• Flexible Bonus Payouts

Invest ₹50,000 for 8 years and Get ₹7.91 Lakhs³

Why Buy ABSLI Vision LifeIncome Plus Plan?

The ABSLI Vision LifeIncome Plus Plan provides comprehensive life protection with guaranteed regular income and bonus payouts, ensuring financial security throughout your lifetime.

Key Features:

• Whole Life Cover: Protection up to age 100.
• Guaranteed Regular Income: Reliable income throughout the chosen benefit payout period.
• Flexible Bonus Payouts: Options to receive bonuses as per your preference.
• Cash-in-Hand Option: Access funds as needed.
• Customizable Coverage: Enhance your plan with additional riders.

Plan Benefits

• Guaranteed Regular Income: Receive guaranteed income based on your chosen Benefit Option.
• Flexible Premium Payment Terms: Options to suit your financial planning.
• Rider Options: Expand your coverage with various riders for additional protection.

Benefit Options

At policy inception, choose from the following Benefit Options:

• Short Term Income:
  • Premium Payment Term: 8, 10, 12, or 15 years
  • Benefit Payout Period: 10, 20, or 25 years
  • Policy Term: 18, 20, 22, or 25 years
• Long Term Income:
  • Premium Payment Term: 8, 10, 12, or 15 years
  • Benefit Payout Period: 20, 25, or 30 years
  • Policy Term: 28, 33, 38 years (for 8-year PPT), 30, 35, 40 years (for 10-year PPT), etc.
• Whole Life Income:
  • Premium Payment Term: 8, 10, or 15 years
  • Coverage till Age 85 or Age 100

Eligibility Criteria

• Minimum Entry Age: 30 days* (Coverage begins at the policy issue date for minors)
• Maximum Entry Age:
  • Short Term Income: 60 years
  • Long Term Income: 55 years
  • Whole Life Income: 55 years
• Minimum Maturity Age: 18 years
• Maximum Maturity Age:
  • Short Term & Long Term Income: 85 years
  • Whole Life Income: 100 years or 85 years (depending on coverage)
• Minimum Annual Premium: ₹50,000
• Premium Payment Frequency: Annual, Semi-Annual, Quarterly, or Monthly
• Benefit Payout Frequency: Annual or Monthly

How It Works

Example:

• Mr. Sharma’s Scenario:
  • Age: 35 years
  • Annual Premium: ₹1,00,000
  • Premium Payment Term: 10 years
  • Benefit Payout Period: 10 years
  • Policy Term: 20 years
  • Benefit Payout Frequency: Monthly
  • Sum Assured: ₹10,09,800
  • Bonus Utilization: Paid-Up Additions
  Returns:
  • Guaranteed Income: ₹10,098 per month for 10 years
  • Total Guaranteed Income: ₹12,11,760
  • Lump Sum at Maturity: Accrued Paid-Up Additions ₹5,65,488 (at 8% return) or ₹5,04,900 (at 4% return), plus Terminal Bonus

What’s Not Covered?

• Policy Termination: If the life insured dies within 12 months of policy commencement or revival, the cover ceases. The payout will be the higher of the Surrender Value or Total Premiums Paid plus any extra premiums or loadings, minus applicable taxes.