ABSLI Vision Life Income Plan

• What is the objective of this plan?
  ABSLI Vision LifeIncome Plan is a traditional participating whole life plan that not only helps you plan your financial goals but also realize your dreams by providing you with a steady income and life cover till age 100.
  
  
• Can I claim tax benefits in this policy? Will the maturity amount be taxable?
  Yes, there are tax benefits2 on ABSLI Vision LifeIncome Plan. The premiums paid qualify for tax exemption under section 80C, while the maturity or death benefit payouts qualify for tax exemption under section 10(10D).
  
  ²Tax benefits are subject to changes in tax laws. You are advised to consult your tax advisor for the same.
  
  
• Is this plan better than money back plan?
  Money Back Plans Benefits:
  
  Policyholder gets a percentage of sum assured at regular intervals and the balance sum assured and applicable bonuses, if any, at the end of the policy term on maturity.
  
  The sum assured and applicable bonuses, if any, is paid if the policyholder dies during the term of the policy
  
  If you require a regular flow of income to meet short-term financial goals, a money back plan is ideal for you.
  
  ABSLI Vision LifeIncome Plan:
  
  Policyholder gets a lump sum amount after the premium paying term; 5% of Sum Assured guaranteed plus bonus every year after the Premium Paying Term till age 100and another lump sum at the 100th year
  
  Comprehensive financial protection of your family with whole life cover up to age 100 and growth of your investment through bonus accumulation
  
  If you want regular *guaranteed income, long-term savings along with the life cover for whole life, this plan is ideal for you.
  
  *Provided all due premiums are paid and the policy is in force
  
  
• What are accrued bonuses?
  ABSLI declares simple reversionary bonuses regularly at the end of each financial year and those will be accrued in the policy on its anniversary, upon surrender or on death. Bonuses once attached to the policy are payable along with the interim bonuses, as applicable on death, surrender or survival. In case of surrender, the surrender value of the attached bonuses will be payable. The regular bonus rate declared by the company may vary from year to year and will depend on the actual experience regarding various factors and prevailing economic conditions. Future bonuses are, however, not guaranteed and will depend upon the future profits of the participating business.
  
  
• What is terminal bonus?
  ​​​​​​​ABSLI may pay a terminal bonus at company’s discretion on death, or maturity, based on the actual experience and the prevailing economic conditions.

HDFC Bank Limited (IRDAI Registration No: CA0010) is the Corporate Agent of Aditya Birla Sun Life Insurance Company Limited and does not underwrite the risk or act as an insurer.

Registered Address: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Participation by the Bank’s clients in the Insurance products is purely on a voluntary basis. The contract of Insurance is between Aditya Birla Sun Life Insurance Company Limited and the Insured and not between HDFC Bank and the Insured.

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked 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 sub-standard 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. Some benefits are guaranteed and some benefits are variable with bonuses based on the future performance of the participating business and economic conditions. If your policy offers guaranteed returns then these will be clearly marked “guaranteed” in the illustration table. For further details on risk factors, terms and conditions, please read the sales brochure carefully before concluding the sales come true. Aditya 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 Call Centre: 1-800-270-7000 www.adityabirlasunlifeinsurance.com CIN: U99999MH2000PLC128110 UIN: 109N079V05 ADV/6/20-21/462 VER 2/JUN/2020

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.

“As per recent changes in section 10(10D) of Income Tax Act, where the amount of aggregate annual premium payable in the financial year in case of Traditional plans (all non-unit linked plans except Annuity, Pension and Pure Risk Plans) issued on or after 1st April 2023 exceeding INR 5,00,000 the benefits of the policy/policies shall not be eligible for exemption under section 10(10D) except in case of death”. The customer is requested to seek advice of a tax advisor with respect to his/her personal tax liabilities under the Indian Income-tax law."