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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.
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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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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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 15+ top-term plans and features in one place to find the best 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.
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.
†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
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+All savings provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.
