Lakshmi-Vilas-Bank Personal-NRI Premium-Banking

Aditya Birla Sun Life Insurance Vision LifeIncome

Overview

In today's world, try to plan for all of life's important stages and milestones keeping in mind our growing responsibilities. We not only look to secure our family for the present and future but also leave behind a legacy that protects our 3 generations even in our absence. And, to supplement these efforts, we sometimes wish for an extra source of regular income along with benefits for life.

Introducing the Aditya Birla Sun Life Insurance Vision LifeIncome Plan, a traditional participating whole life plan that helps you to not only plan your financial goals but also protect your 3 generations by providing you with a steady income and whole life cover. With survival benefits payable every year from the end of the premium paying term till maturity and a life insurance benefit, this plan offers a perfect blend of income and financial protection for you and your family.

 

Benefits

Survival Benefit

In the event the life insured survives to the end of the premium paying term, the policyholder will receive accrued bonuses till date. If he/she survives to the end of each subsequent policy year, he/she will be paid Income Benefit of 5.0% of Sum Assured plus a bonus from the current policy year.

Maturity Benefit

In the event the life insured survives to the end of the policy term, the policyholder will receive the Sum Assured (1) and Terminal Bonus (if any).

Death Benefit:

In the unfortunate event of the death of the life insured during the premium paying term, we shall pay to the nominee:

  • Sum Assured (2)
  • Plus Accrued bonuses as of date of death
  • Plus Terminal bonus (if any)

In the event the life insured dies after the premium paying term, we shall pay to the nominee

  • Sum Assured (2)
  • Bonus from the current policy year plus
  • Terminal bonus (if any)

Tax Benefits

As per extant tax laws, this plan offers tax benefits under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 1961, subject to fulfillment of the other conditions of the respective sections prescribed therein. - Tax benefits are subject to changes in the tax laws, you are advised to consult your tax advisor for details.

Customisable Benefits

Furthermore, you can enhance your insurance coverage by adding riders for a nominal extra cost.

Illustration

Age Gender Basic Sum Assured Policy Term Premium Paying Term Premium Paid (Per annum) Total Premium Paid (8 yrs.) Maturity Benefit
              4% 8%
35 Male 60,00,000 100 8 10 5,04,416 Nill 40,81,308


Add illustration copy. The premium is calculated without GST.

Details

Entry Age

30 days* – 60 years

Policy Term

Whole Life to Age 100

Minimum Basic Sum Assured (BSA)

Rs. 2,00,000

Minimum Premium

For PPT 8 | 10 | 12 years - Rs. 1,00,000 p.a.
For PPT 15 to 40 years - Rs. 3,880 p.a.

Death Benefit

In the unfortunate event of the death of the life insured during the premium paying term, we shall pay to the nominee

  • Highest of, Sum Assured or 10 times of the annualised premium or 105% of total
  • premiums paid to date(1); plus
  • Accrued bonuses as of date of death(2); plus
  • Terminal bonus (if any)

Survival Benefit

  • Income Benefit of 5.0% of Sum Assured; plus
  • Bonus from the current policy year

Maturity Benefit

In the event the life insured survives to the end of the policy term, we shall pay to you

  • Reduced Sum Assured; plus
  • Terminal bonus (if any)

Customisable Benefit

For added protection:
ABSLI Waiver of Premium Rider (UIN: UIN: 109B017V02)
ABSLI Critical Illness Rider (UIN: 109B019V03)
Reduced Paid-up (RPU) Benefits

Pay Term

8 | 10 | 12 | 15 to 40 years

Premium Frequency

Monthly, Quarterly, Semi-Annual, Annual


For details on benefits, terms and conditions please refer the brochure.

ABSLI Vision LifeIncome UIN No: 109N079V04

Lakshmi Vilas Bank Ltd. is a corporate agent of Aditya Birla Sun Life Insurance Company Limited under license number CA0047.
Registered Address: Lakshmi Vilas Bank Ltd. Corporate Office, LVB House, No. 4/1 (Old no. 33), Sardar Patel Road, Guindy, Chennai – 600 032. Tamil Nadu. Participation by the Bank's clients in the insurance products is purely on a voluntary basis.

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a traditional participating endowment plan. All terms and conditions are guaranteed throughout the policy term, except for the bonuses which would be declared at the end of each financial year. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations, etc. Tax benefits are subject to changes in the tax laws. You are advised to consult your tax advisor for details. The regular bonus rate declared by ABSLI may vary from year to year and will depend on the actual experience regarding various factors and the prevailing economic conditions. Future bonuses are however not guaranteed and will depend upon the future profits of the participating business. ABSLI will declare simple reversionary bonuses regularly at the end of each financial year and those will be accrued in the policy on its policy anniversary, surrender or on death. For further details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sales. For more details and clarification, call your ABSLI Insurance Advisor or visit our website and see how we can help in making your dreams come true. Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Registered Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841 Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI Reg no.109 CIN: U99999MH2000PLC128110 UIN 109N079V04

BEWARE OF SPURIOUS / FRAUD PHONE CALLS!
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums.
Public receiving such phone calls are requested to lodge a police complaint.

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