Aditya Birla Sun Life Insurance Vision Endowment Plus Plan

Eligibility Criteria for the Aditya Birla Sun Life Insurance Vision Endowment Plus Plan

For reference, your sum assured is banded as follows:

In case the life insured is a minor, the policy will automatically vest upon attainment of majority. Risk cover for minors begins from the date of commencement of risk as per policy terms.

Features of the Aditya Birla Sun Life Insurance Vision Endowment Plus Plan

The Aditya Birla Life Insurance Vision Endowment Plus Plan comes with several features:

• Bonus Eligibility: A terminal bonus may be paid at maturity, surrender, or death, depending on how well the company does.
• Lump sum maturity benefit: On survival till the end of the policy term, the investment plan pays the sum assured on maturity, which equals total premiums paid, along with accrued bonuses and terminal bonus, if any.
• Premium payment frequency flexibility: Premiums can be paid annually, semi-annually, quarterly, or monthly, as chosen at policy inception.
• Optional riders for more protection: The plan lets you add optional riders, including accidental death, critical illness, surgical treatment, hospital care, and waiver of premium, if you meet certain criteria and limits.

As one of the best guaranteed return plans in India, it provides a structured combination of protection and savings, where bonuses may enhance overall benefits over time.

Benefits of the Aditya Birla Sun Life Insurance Vision Endowment Plus Plan

The ABSLI Vision Endowment Plus plan benefits are mentioned below:

1.  Maturity Benefit

   If the life insured survives until the end of the policy term and all due premiums are paid, the policy pays:

   • Sum Assured on Maturity (equal to Total Premiums Paid), and
   • Accrued Simple Reversionary Bonuses, and
   • Terminal Bonus (if declared)

2.  Death Benefit

   If the person who is insured dies while the policy is in effect, the nominee gets a death benefit.

   The Death Benefit is the higher of the two: 

   • Sum assured on death, or
   • 105% of all premiums paid

   The sum assured on death is a multiple of the annualised premium. 

Riders Under the Aditya Birla Sun Life Insurance Vision Endowment Plus Plan

You may enhance coverage by adding optional riders, subject to underwriting approval:

• ABSLI Accidental Death Benefit Rider Plus
• ABSLI Critical Illness Rider
• ABSLI Surgical Care Rider
• ABSLI Hospital Care Rider
• ABSLI Waiver Of Premium Rider

The total rider premium shall not exceed 30% of the base premium. For health-related riders, the rider premium may go up to 100% of the base premium, as per policy conditions.

Policy Details of the Aditya Birla Sun Life Insurance Vision Endowment Plus Plan

The following are the policy details of the ABSLI Vision Endowment Plus Plan:

• Grace Period: A grace period of 30 days is allowed for annual, semi-annual, and quarterly modes. For the monthly mode, the grace period is 15 days. Risk cover continues during this period.
• Revival: A lapsed policy can be revived within 5 years from the due date of the first unpaid premium, subject to underwriting and payment of outstanding dues.
• Surrender: The policy acquires surrender value after payment of at least two full years’ premiums. The surrender value payable will be the higher of the Guaranteed Surrender Value or the Special Surrender Value.
• Loan: A loan is available once the policy acquires surrender value. The maximum loan amount is up to 85% of the surrender value, subject to applicable interest rates.

Exclusions Under the Aditya Birla Sun Life Insurance Vision Endowment Plus Plan

As per the terms and conditions under the Birla Sun Life Investment Plans, in case of suicide within 12 months, the company will pay the higher of premiums paid (excluding taxes) or the surrender value available.