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ABSLI Income Suraksha Plan is different from other term insurance plans as it offers a regular monthly income to your family if something happens to you. While most term plans give a lump sum payment, this plan provides steady financial support to help cover everyday expenses and maintain the lifestyle of your loved ones.
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This makes it a great option for ensuring your loved ones have consistent financial help. Let’s understand in detail how the ABSLI Income Suraksha Plan is different from other term plans.
The Aditya Birla Sun Life Insurance (ABSLI) Income Suraksha Plan is a term insurance plan designed for salaried individuals. It ensures your family receives a steady monthly income if something unfortunate happens to you while the policy is still active. You can choose between two plan variants, i.e. the Fixed Income Protection option, which gives a definite amount each month, or the Increasing Income Protection option, where the amount increases up by 5% each year, thereby using the power of compounding. This way, the money keeps growing annually and helps your family deal with inflation. This term insurance plan offered by Aditya Birla Sun Life Insurance is flexible and offers comprehensive coverage ensuring your loved ones’ financial needs are met over time.
Term Plans
Here is a detailed analysis of how the Income Suraksha Plan by Aditya Birla Sun Life Insurance is different from the pure term insurance plans:
| Parameters | Pure Term Insurance Plan | ABSLI Income Suraksha Plan |
| Payout Structure | Provides a lump sum payment to the nominee upon the policyholder's death. | Offers a regular monthly income to the nominee instead of a lump sum. |
| Financial Planning Support | Primarily focuses on providing a lump sum without long-term support against inflation. | Helps families manage regular expenses with monthly income, ensuring financial stability over time. |
| Example | If Mr. Kapoor buys a policy of Rs. 1 Crore for 30 years policy term, his family gets Rs. 1 Crore if he passes away during the term. | If Mr. Rajeev has a policy with Rs. 1 Lakh monthly income for 30 years, his family will receive Rs. 1 Lakh every month for the remaining policy term if he dies while policy is still active. However, if he dies close to the end of the policy term, his family will still receive the monthly income for atleast 10 years. |
Payout Type: Term insurance plans offer a one-time lump sum, while ABSLI Income Suraksha provides ongoing monthly payments.
Inflation Adjustment: ABSLI Income Suraksha’s Increasing Income Protection plan option adjusts for inflation by increasing monthly payments annually, whereas traditional term plans do not.
Financial Stability: The regular monthly income from the ABSLI Income Suraksha Plan can provide steady, predictable financial support, which might be more manageable for ongoing expenses than a large lump sum payment.
In summary, this Aditya Birla Term Insurance plan (ABSLI Income Suraksha Plan) focuses on providing continuous financial support through monthly income, whereas other term insurance plans generally offer a one-time/lump sum payout.
*Note: You can choose your preferred payout option in traditional term insurance plans, as per your nominee’s needs.
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ABSLI Income Suraksha Plan is exclusively available on Policybazaar now. Here’s why you should consider buying the ABSLI Income Suraksha Plan from Policybazaar:
Extra Discounts#: You can also get extra discounts and benefits that are not available elsewhere.
Easy Comparison: You can easily compare among 20+ term plans and features in one place to find what suits you.
Simple Online Process: Buying the plan is easy and can be done online without any paperwork.
Helpful Support: Policybazaar’s customer support is there to help you with any questions or issues. You can always contact Policybazaar’s insurance advisors to get all your queries and doubts solved.
Smooth Claims: If you need to make a claim, Policybazaar will help make the process as smooth as possible. You can always avail of Policybazaar’s Dedicated Claim Assistance Program to ensure hassle-free claim settlement.
Here are the steps to buy the Aditya Birla Sun Life Insurance Income Suraksha Plan from Policybazaar:
Step 1: Go to Policybazaar’s website and click on “Term Insurance.”
Step 2: Enter your details like name, contact info, gender, and date of birth.
Step 3: Provide information about your job, income, education, and tobacco habits.
Step 4: Select the Aditya Birla Sun Life Insurance Income Suraksha Plan from the list of options.
Step 5: Make the payment using your preferred method to finish the process.
Note: You should also check the term life insurance benefits if you are planning to purchase the term insurance plan.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.
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