Birla Sun Life Investment Plans

ABSLI’s portfolio comprises of multiple plans such as retirement, wealth, savings, child plans, traditional investment plans, children’s future plans, and protection solutions.

In this article we will focus on Traditional Investment Plans offered by ABSLI. A traditional investment plan is a type of an investment plan where your money is invested as per the policy terms and conditions. They serve a purpose of long term investment and money cannot be withdrawn before the policy ends.

Note: All information related to Product Benefits and Eligibility has been sourced from the official website of Aditya Birla Sun Life Insurance.

ABSLI Secure Plus Plan

A traditional non-participating life insurance plan guarantees income post the policy tenure. It can be purchased online.

• Product Benefits

• You have the flexibility to choose income benefits and the amount of premium to be paid.

• The following options are given as follows.
  • Option A: if you want to receive Income Benefit equal to 100% to 600% of Annual Premium for 6 years
  • Option B: if you want to receive Income Benefit equal to 200% of Annual Premium for 12 years
• This plan comes with an Inbuilt Accidental Death Benefit.
• Death Benefit - 10 times of the annual premium (excluding service tax and cess, any applicable rider premiums and underwriting extras, if any); or 105% of the total premiums paid as on the date of death (excluding service tax and cess, any applicable rider premiums and underwriting extras, if any); or sum assured; or maturity sum assured.

Eligibility

ABSLI Vision MoneyBack Plus Plan

This is a traditional participating life insurance plans with guaranteed survival benefit.

Product Benefits

• Every 4th or 5th year of the policy anniversary, you will receive a survival benefit as a percentage of the sum assured.
• Death benefit payable will be Sum Assured on Death; plus accrued regular bonuses as of date of death; plus Terminal bonus (if any).
• Maturity benefit will be accrued regular bonuses till date; plus Terminal bonus (if any).
• You are entitled to tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961.

Eligibility

ABSLI Vision Lifeincome Plan

A traditional participating whole life insurance plan where you get 5% of the sum assured every year plus bonus annually post premium paying term.

Product Benefits

• Survival benefit - It will be 5.0% of Sum Assured plus bonus from current policy year payable at the end of the premium paying term.
• Death benefit payable will be highest of, Sum Assured or 10 times of the annualised premium or 105% of total premiums paid to date; plus accrued bonuses as on date of death; plus terminal bonus (if any).
• In case of death after the premium paying term, the death benefit payable will be highest of, Sum Assured or 10 times of the annualised premium or 105% of total premiums paid to date; plus bonus from the current policy year; plus Terminal bonus (if any).
• You are entitled to tax benefits under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 1961.

Eligibility

ABSLI Savings Plan

A traditional participating life insurance plan which helps your grow your savings steadily over the policy tenure.

Product Benefits

• You have the flexibility to select the policy and premium paying term along with sum assured.
• You can take a loan against this policy.
• In case of accidental death, an additional sum assured is payable.
• You get guaranteed additions for the first 5 years during the end of each policy.
• Death benefit payable will be Guaranteed Death Benefit, plus Accrued Guaranteed Additions, plus Accrued regular bonuses as on date of death, plus Terminal Bonus if any.
• Maturity benefit will be Sum Assured, plus Accrued Guaranteed Additions, plus Accrued Regular Bonus, plus Terminal Bonus if any.

Eligibility

ABSLI Vision LifeSecure Plan

A traditional participating whole life insurance which provides comprehensive financial protection for your family till the age of 100.

Product Benefits

• You are entitled fortax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
• Maturity benefit will be paid as Sum Assured, plus accrued regular bonuses, plus Terminal Bonus (if any).
• Death benefit payable will be Guaranteed Death Benefit; plus accrued regular bonuses as on date of death; plus Terminal Bonus, (if any).
• In case of death before the risk commencement date only the basic premiums paid to date (excluding GST, if any) shall be payable as death benefit.

Eligibility

ABSLI Income Assured Plan

A traditional non-participating life insurance plan where you can select your pay term and policy term.

Product Benefits

• Assured Income Benefits Options.
  • Option A: Assured Income of 8.0% of Sum Assured per annum payable monthly after the premium-paying term till maturity of the policy.
  • Option B: Accumulate the Assured Income and receive as a lump sum at the end of policy term. The accrued Assured Income will be increased to 130% (for policy terms of 15, 17 and 20 years) and 150% (for policy terms of 22 and 25 years).
• Guaranteed Additions are added after the completion of the premium payment term, until policy maturity date on a quarterly basis.
• Death benefit payable will be Sum Assured on death; plus guaranteed Additions accrued as on date of death.
• Maturity benefit will be Sum Assured; plus Guaranteed Additions accrued to date.
• You are entitled to tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

Eligibility

ABSLI Vision Endowment Plus Plan

A traditional participating life insurance plan where you can select the premium on basis of the chosen sum assured.

Product Benefits

• You are entitled to tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
• Death benefit payable will be Sum Assured on Death; plus accrued regular bonuses as of date of death; plus Terminal Bonus (if any)
• Option A - Sum Assured on Death is maximum of 100% of Sum Assured or Maturity Sum Assured or 10 times the annual premium payable.
• Option B - Sum Assured on Death is maximum of 150% of Sum Assured or Maturity Sum Assured or 10 times the annual premium payable.
• Maturity benefit will be Maturity Sum Assured; plus accrued bonuses till date; plus Terminal bonus (if any).

Eligibility

ABSLI Guaranteed Milestone Plan

A non-linked non-participating life insurance plan which provides fully guaranteed benefits on death or maturity.

Product Benefits

• You have the flexibility to choose the policy term and an option to cover your spouse under the joint life protection scheme.
• Death benefit payable for single life will be paid in 10 equal annual installments (Maturity Sum Assured plus accrued Guaranteed Additions over the Sum Assured).
• In case of lump sum payment, the discounted value of the outstanding annual instalments will be paid as a lump sum.
• Maturity amount will be Maturity Sum Assured; plus Accrued Guaranteed Additions.
• Guaranteed additions will be paid on a monthly basis provided all premiums have been paid successfully.
• Death benefit payable for joint life will be paid in annual instalments to the spouse (secondary life insured).
• In case of death of the secondary life insured the death benefit is paid to the nominee as a lump sum amount.

Eligibility

ABSLI Jeevan Bachat Plan

A non-linked non-participating life insurance plan which provides life cover 10x of your premium with tax benefits.

Product Benefits

• Death benefit payable will be Sum Assured on Death plus Guaranteed Additions accrued till the date of death.
• Maturity benefit will be Maturity Sum Assured plus the Guaranteed Additions accrued till maturity. Maturity Sum Assured is the sum of all the premiums payable (excluding loadings for modal premiums and applicable taxes, if any)
• Guaranteed Additions will be provided on a monthly basis post completion of premium paying term.

Eligibility