Birla Sun Life Investment Plans
Birla Sun Life Investment Plans
  • Monthly Guaranteed Additions
  • Maturity Benefit
  • Tax Benefits Under 80C
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Birla Sun Life Investment Plans

Birla Sun Life Insurance Co. Ltd. or BSLI is known as one of India's most reliable and topmost insurance companies. It is a joint venture between the Aditya Birla Group, a sincere multinational enterprise with a global presence and Sun life Financial Inc., Canada's one of the top financial service organizations.

Birla Sun Life Insurance Co. Ltd. started its operations on August 4, 2000, in India. The company has emerged as one of India's leading insurance groups and is enjoying for over a decade now in the insurance sector.

Birla Sun Life Investment Plans serve long term investment purposes where you can save your money and create a corpus for the future. The traditional investment plans by Aditya Birla Sun Life Insurance (ABSLI) offers a bundle of benefits to enjoy for you as well as your family. These plans even focus on the retirement purpose where the policyholder will be rewarded with guaranteed bonuses with life coverage.

Types of Birla Sun Life Investment Plans

1. ABSLI SecurePlus Plan

ABSLI SecurePlus Plan is a non-participating traditional life insurance plan that offers guaranteed income along with a back-up income scheme for your investment purpose.

Benefits of ABSLI SecurePlus Plan:

  • The income benefit after every year during the premium payment term.
  • The policyholder may benefit from 100% to 600% of annualized premium.
  • Death benefit along with accidental death benefit is also available under the plan.
  • A lump sum amount is paid as a maturity benefit on the date of maturity.
  • Enhance your cover by adding riders to the plan at nominal costs.

Eligibility Criteria

Age at Entry5-50 years (age at last birthday)
Age at Maturity (Maximum)63 years (age at last birthday)
Policy Tenure13 years
Premium Paying Term (PPT)12 years
Premiums (Minimum)Rs. 50,000 p.a. (Annual mode)
Rs. 36,000 p.a. (Monthly mode)

2. ABSLI Vision MoneyBack Plus Plan

ABSLI Vision MoneyBack Plus Plan is a participating traditional life insurance plan which provides sufficient life coverage against uncertainties of life. The plan also offers a liquidity facility to fulfil financial needs.

Benefits of Vision MoneyBack Plus Plan

  • The guaranteed survival benefit is applicable under the plan.
  • A death benefit is paid, if any mishap will take place with the policyholder.
  • If the life insured survives until the policy term ends, the maturity benefit is paid.
  • Accrued and terminal bonuses can be also availed in the policy.
  • Various rider options together with tax benefits are also available.

Eligibility Criteria

Age at Entry13-45 years
Policy Tenure20, 24, 25 years
Premium Paying Term (PPT)10 years (20-year policy term
12 years (24 or 25-year policy term)
Sum AssuredRs. 1 lakh (minimum)

3. ABSLI Vision LifeIncome Plan

ABSLI Vision LifeIncome Plan is a participating traditional life insurance plan that comes with attractive features, income stability, full life cover in addition to benefits if the policyholder survives till the end of the policy tenure

Benefits of ABSLI Vision LifeIncome Plan

  • Accrued bonuses along with income benefit of 5% shall be payable.
  • 105% of all the premiums paid till date or basic sum assured, whichever is higher will be paid as a maturity benefit.
  • The plan shall payout 10 times of the annual premium.
  • Boost your plan with different riders available for extra security.

Eligibility Criteria

Age at Entry30 days-60 years (age at last birthday)
Premiums (Minimum)Rs. 25,000 p.a. (8, 10, 12 years)
Rs. 3,880 p.a. (15 to 40 years)
Policy TenureUpto 100 years
Premium Paying Term (PPT)8, 10, 12, 15 to 40 years
Sum AssuredRs. 2 lakhs (minimum)

4. ABSLI Savings Plan

ABSLI Savings Plan is a participating traditional life insurance plan that helps you save at regular intervals and enhance the savings consistently with time to grow more.

Benefits of ABSLI Savings Plan

  • For the first 5 years, guaranteed additions after every year.
  • Auto cover continuation on paying premiums for at least 3 consecutive years.
  • On the death of the policyholder, the death benefit is paid with accrued bonuses (if any).
  • Sum assured shall be payable at maturity.
  • Reduced paid-up benefits are also applicable.

Eligibility Criteria

Age at Entry18-50 years (age at last birthday)
Age at Maturity (Maximum)63 years (age at last birthday)
Policy Tenure10, 15, 20 years
Premium Paying Term (PPT)10 years: Regular pay
15 years: 10 years - Regular pay
20 years: 10 years, 15 years - Regular pay
Sum AssuredRs. 10 lakhs (maximum)

5. ABSLI Vision LifeSecure Plan

ABSLI Vision LifeSecure Plan is a participating traditional whole life insurance plan which provides security to your savings for a safe future ahead. One can accumulate an adequate amount of savings which is tax-free.

Benefits of Vision LifeSecure Plan

  • TPays a maturity benefit on survival after the policy term ends.
  • Death benefit along with accrued bonuses is available under the plan.
  • Custom benefits can be availed by the policyholder in the form of adding riders to the policy.
  • The policy will continue even if the policyholder does not pay the premiums after paying full premiums for 2 years based on reduced paid-up benefit.

Eligibility Criteria

Age at Entry30 days-60 years (age at last birthday)
Policy Tenure15-35 years
Premium Paying Term (PPT)Regular pay
Premiums (Minimum)Rs. 12,000 p.a.
Sum AssuredRs. 2 lakhs (minimum)

6. ABSLI Income Assured Plan

ABSLI Income Assured Plan is a standard non-participating life insurance plan which helps you in maintaining a corpus for the long term so that you can easily achieve your financial goals.

Benefits of ABSLI Income Assured Plan

  • It offers assured income benefits every month until the policy term ends.
  • Once the premium payment term ends, it will pay you guaranteed additions at the start of each quarter.
  • The death benefit along with accrued bonus if any, shall be payable on the death of the policyholder.
  • On surviving the whole policy tenure, the maturity benefit is paid to the life insured.
  • The plan offers custom-made riders to provide added security for your cover.

Eligibility Criteria

Age at Entry8-60 years (provided the maximum age should be 75 years at the end of the policy term)
Premium ModeYearly, Half-yearly, Quarterly, Monthly
Premium Paying Term (PPT)5 years (15-year policy term)
7 years (17 & 22-year policy term)
10 years (20 & 25-year policy term)
Sum Assured (Minimum)Rs. 1 lakh

7. ABSLI Vision Endowment Plus Plan

ABSLI Vision Endowment Plus Plan is a participating conventional life insurance plan which provides long term goals for your investment plans to make a financially better tomorrow for you and your family’s future.

Benefits of ABSLI Vision Endowment Plus Plan

  • The plan provides different bonuses on maintaining a regular payment of premiums.
  • Sum Assured on death in addition to accrued bonus and terminal bonus if available, they will be paid as a death benefit.
  • The maturity benefit as on the date of maturity will be paid to the policyholder if he/she survives the policy years.
  • Make your coverage more beneficial by adding riders to it offered by the ABSLI Vision Endowment Plus Plan.

Eligibility Criteria

Age at Entry30 days-60 years (provided that the maximum maturity age is 70 years)
Premium ModeYearly, Half-yearly, Quarterly, Monthly
Policy Tenure10-40 years
Premium Paying Term (PPT)7, 10, 15, 20 years, Regular Pay
Sum Assured (Minimum)Rs. 1 lakh

8. ABSLI Guaranteed Milestone Plan

ABSLI Guaranteed Milestone Plan is a non-participating & non-linked life insurance plan which offers guaranteed protection to your family, even when you will not be there to take care of. It gives an option to provide coverage for your spouse as well.

Benefits of ABSLI Guaranteed Milestone Plan

  • Flexibility in selecting the policy tenure based on Sum Assured amount.
  • Monthly guaranteed additions will be paid if all the premiums are paid on-time.
  • The Joint Life Protection scheme is there to cover your spouse along with you.
  • The death benefit is paid to the other life in 10 equal instalments annually on the death of a single life.
  • A lump-sum payment can also be chosen as a death benefit.
  • Maturity benefit along with the guaranteed accrued additions shall be paid to the policyholder.

Eligibility Criteria

Age at Entry30 days-60 years
Age at Maturity (Maximum)18 years (Minimum)
Policy Tenure12, 14, 16, 18, 20, 22, 24 & 26 years
Premium Paying Term (PPT)6 years for 12/14 policy term
8 years for 16/18 policy term
10 years for 20/22 policy term
12 years for 24/26 policy term
Premium Rs. 15,000 (Minimum)

9. ABSLI Jeevan Bachat Plan

ABSLI Jeevan Bachat Plan is a non-participating & non-linked life insurance plan that offers 10 times of premiums for existing life cover in addition to tax benefits. The plan plots for a secure future from a collection of small savings.

Benefits of ABSLI Jeevan Bachat Plan

  • In the event of the death of the policyholder, the beneficiary is paid with the death benefit.
  • Guaranteed additions are also applicable under the plan post premium payment term.
  • Maturity benefit shall be payable as the maturity sum assured, which is the total of all the paid premiums except any applicable taxes.
  • On discontinuation of payment of premiums, if the premiums are regularly paid for at least two complete policy years, it will continue based on Reduced Paid-up benefit.

Eligibility Criteria

Age at Entry1-55 years
Age at Maturity (Maximum)65 years
Policy TenureSingle Pay & 6 Pay: 10, 15, 20 years
9 & 12 Pay: 15 and 20 years
Premium Paying Term (PPT)Limited Pay: 6, 9, 12 years
Sum AssuredMinimum:
Single Pay- Rs. 12,500
Limited Pay-Rs. 50,000

Maximum:
Single Pay- Rs. 10 lakhs
Limited Pay- Rs. 5 lakhs

10. ABSLI Monthly Income Plan

ABSLI Monthly Income Plan is a participating non-linked life insurance plan that is specially designed to fulfil your retirement goals. The plan provides a regular monthly income together with bonuses to make savings and plans early in life for later purposes.

Benefits of ABSLI Monthly Income Plan

  • Advance monthly income at the end of Deferment period as a percentage of basic coverage, according to the selected option at the inception of the policy.
  • Accrued bonus plus a terminal bonus if applicable, is paid to the life insured as a death benefit.
  • A lump sum benefit equal to the sum assured will be paid as an accidental death benefit in case of an accident.
  • If the life assured survives the policy term, he/she will get the maturity payout as on the date of maturity.
  • Reduced Paid-up benefits along with custom benefits in the form of riders are also available under the plan.

Eligibility Criteria

Age at Entry18-55 years (For PPT: 10 years)
18-53 years (For PPT: 12 years)
(Provided that the maximum maturity age is 80 years)
Premium FrequencyAnnual, Semi-annual, Quarterly and Monthly
Policy TenureMinimum: 20 years; Maximum: 37 years
Premium Paying Term (PPT)10 and 12 years
Sum Assured (Minimum)Rs. 4 lakhs

Claim Process of Birla Sun Life Investment Plans

BSLI provides a quick and simple claim settlement process. One can easily register a claim online by following only a few steps. For online claim intimation, you need to sign up for your insurance policy and fill in some basic details of the life insured. You could intimate the company regarding your claims within the following approaches.

Documents required in case of a death claim

  1. Replica of death certificates duly attested through the authorized person in the department.
  2. Authentic insurance record.
  3. Claimant's claim form.
  4. Demise Questionnaire (if demise has taken place out of the country).
  5. Medical Attendant's certificates.
  6. Copies of medical prescriptions of closing and former hospitalizations, if applicable.

Documents in case of accidental death

  1. First Information Report (FIR).
  2. Post Mortem file.
  3. Police Inquest file.

Why Birla Sun Life Investment Plans?

Let us have a look at some of the benefits of investing in ABSLI:

  1. Flexibility to make partial withdrawals.
  2. Liberty to exchange among price range or even among investment options.
  3. Death advantage & maturity gain.
  4. Provision for premium redirection.
  5. Freedom to increase investment with the help of top-ups.
  6. Income Tax benefits.

Birla Sun Life Investment Plans: FAQs

Yes, you may increase the sum assured (plan base) by providing a written and signed by the policy proprietor.

You can take a loan in opposition to your policy. Please discuss your policy report for information regarding minimum and maximum mortgage.

To check the status of policy for ABSLI Vision MoneyBack Plus Plan:

  • Visit the official website of ABSLI.
  • Log in with your registered credentials.
  • After logging in, you can check the complete details of your plan and its details in the account.

Yes, NRIs are also eligible for the plans offered by Aditya Birla Sun Life Insurance. NRIs may invest in ABSLI Vision LifeIncome Plan that offers life cover along with maturity benefits. Various riders are also available to make your coverage more advantageous.

Last updated on 19-08-2020