Exclusions In ABSLI Income Suraksha Plan

The Aditya Birla Sun Life Insurance (ABSLI) Income Suraksha Plan is a term insurance plan for salaried individuals that ensures financial protection for their families in case of their unfortunate demise. This plan promises monthly income to the families of the policyholders, helping them manage their finances without stress.

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However, the plan benefits will not be provided under certain conditions, also called exclusions. Let’s explore these exclusions of the ABSLI Income Suraksha Plan in detail.

What is Aditya Birla Sun Life Insurance (ABSLI) Income Suraksha Plan?

The Aditya Birla Sun Life Insurance (ABSLI) Income Suraksha Plan is a term insurance plan designed for salaried people. It guarantees a regular monthly income for your family if something unfortunate occurs to you during the policy term. You can select from two plan variants: Fixed Income Protection, which provides a constant monthly amount, or Increasing Income Protection, where the monthly amount increases by 5% annually, taking advantage of the power of compounding. This also ensures that the amount grows over time, helping your family cope with inflation. The term insurance plan is flexible and offers good coverage, ensuring your family’s financial needs are met over time.

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What are the Exclusions in ABSLI Income Suraksha Plan?

The only exclusion in the ABSLI Income Suraksha Plan is Suicide Exclusion. This exclusion is common in term life insurance policies to ensure responsible underwriting while still providing long-term financial security to the insured's beneficiaries. Overall, the plan remains a strong option for those looking to secure their family's financial future.

Here are more details about this exclusion in the Insurance Income Suraksha Plan offered by Aditya Birla Sun Life Insurance:

Exclusion Details: If the policyholder dies by suicide within 12 months from the start of the policy or its revival, the policy will not pay out the Death Benefit.
Refund Instead: Instead of the Death Benefit, the insurer will refund the premiums paid from the beginning of the policy until the date of death. This refund will be given to the nominee or beneficiary, provided the policy is still active.
Refund Amount: The refund amount will be the higher of:
- The total premiums paid up to the date of death, or
- The Unexpired Risk Premium Value, which is the premium for the remaining coverage period.

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Why Should You Buy ABSLI Income Suraksha Plan From Policybazaar?

ABSLI Income Suraksha Plan is exclusively available on Policybazaar. Some of the reasons why you should consider buying the ABSLI Income Suraksha Plan from Policybazaar are mentioned below:

Affordable Premiums: Policybazaar offers great prices on this and other term insurance plans, making them budget-friendly.
Extra Discounts: Enjoy additional discounts and benefits not found elsewhere.
Easy Comparison: Compare 20+ top-term plans and features in one place to find the fit.
Simple Online Process: Buy the plan easily online with no paperwork required.
Helpful Support: Policybazaar's customer support will help you with any doubts or queries. You can also contact their insurance advisors to resolve your queries and doubts.
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.

How to Buy ABSLI Income Suraksha Plan From Policybazaar?

Here are the steps to buy the Aditya Birla Sun Life Insurance Income Suraksha Plan from Policybazaar:

Step 1: Visit Policybazaar’s official website and click “Term Insurance.”

Step 2: Submit your details, such as your name, contact details, gender, and DoB.

Step 3: Submit information regarding your job type, yearly income, educational qualifications, and smoking/tobacco consumption habits.

Step 4: Choose Aditya Birla Sun Life Insurance Income Suraksha Plan from the available list of term insurance plans.

Step 5: Pay using your preferred mode to complete the process.

Note: You should also check the term insurance benefits if you are planning to purchase the term insurance plan.

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FAQs

Q: What is the Aditya Birla Sun Life Insurance (ABSLI) Income Suraksha Plan?

Ans: The ABSLI Income Suraksha Plan is a term insurance policy for salaried individuals. It provides a regular monthly income to your family if something unfortunate happens to you during the policy term. You can choose between Fixed Income Protection or Increasing Income Protection.
Q: What are the key features of the ABSLI Income Suraksha Plan?
Ans:
- Financial Security: Provides monthly income if you pass away unexpectedly.
- Discounts: Up to 11% discount for salaried individuals and 13% for female customers.
- Plan Options: Choose between Fixed Income Protection and Increasing Income Protection.
- Payment Terms: Flexible premium payment options are available.
- Optional Riders: Add extra coverage if needed.
Q: What is the exclusion in the ABSLI Income Suraksha Plan?

Ans: Suicide Exclusion: If you die by suicide within 12 months of the policy start or revival, the Death Benefit is not paid. Instead, the insurer will refund the premiums paid or the Unexpired Risk Premium Value, whichever is higher, provided the policy is still active.
Q: Why should I buy the ABSLI Income Suraksha Plan from Policybazaar?
Ans:
- Affordable Premiums: Great prices on this and other term insurance plans.
- Extra Discounts: Additional discounts and benefits available.
- Easy Comparison: Compare 15+ top term plans in one place.
- Simple Online Process: Buy online with no paperwork.
- Helpful Support: Customer support and claim assistance available.
Q: How do I buy the ABSLI Income Suraksha Plan from Policybazaar?
Ans:
- Visit Policybazaar’s website and select “Term Insurance.”
- Enter your personal details like name, contact info, gender, and date of birth.
- Provide information about your job, income, education, and tobacco use.
- Choose the ABSLI Income Suraksha Plan from the list of options.
- Complete the purchase by paying with your preferred method.

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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.

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