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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. Let’s explore the features and benefits of this plan in detail.
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The Aditya Birla Sun Life Insurance (ABSLI) Income Suraksha Plan is a term insurance plan designed for salaried people. It ensures your family gets a steady monthly income if something unfortunate happens to you during the policy term. You can choose between two options: Fixed Income Protection, which gives a definite amount each month, or Increasing Income Protection, where the amount goes up by 5% each year, thereby using the power of compounding. In this way, the money keeps growing and helps your family deal with inflation. The term insurance plan is flexible and offers good coverage, making sure your family’s financial needs are met over time.
Term Plans
Here are the key features of the Insurance Income Suraksha Plan offered by Aditya Birla Sun Life Insurance:
Offers financial security for your family in case of unexpected events like your sudden death.
Enjoy discounts up to 11% on this plan: a 7% discount for salaried individuals in the first year and an additional 4% special online discount.
Female customers can enjoy a 13% discount on this plan, which includes a 9% first-year discount (only for women) plus a 4% special online discount.
Choose from two plan options to customize your protection:
Fixed Income Protection
Increasing Income Protection
Flexibility to choose either a Limited or Regular Premium Payment Term.
Option to add extra coverage with optional riders for additional protection.
*Note: Aditya Birla Sun Life Insurance Claim Settlement Ratio (CSR) for FY 2022-23 is 98.40% and the solvency ratio is 1.78, thereby making it an ideal choice for customers to buy term plan from.
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Here are the benefits of the ABSLI Insurance Income Suraksha Plan:
Death Benefit: If the policyholder passes away during the policy term, the nominee receives the payout based on the chosen plan:
For Fixed Income Protection: The nominee gets monthly payments equal to the chosen amount, plus any extra amount over the guaranteed death benefit as a lump sum.
For Increasing Income Protection: The nominee gets monthly payments that increase by 5% each year, up to 1.5 times the original amount.
Sum Assured on Death: The death benefit of this life insurance plan is the highest of:
11 times the annual premium
105% of total premiums paid
120 times the monthly income
The guaranteed death benefit amount
Commutation Benefit: After the policyholder's death, the nominee can choose a lump sum payment instead of monthly income, calculated using a discounted value.
Tax Benefit: You may receive tax benefits with this Aditya Birla Term Insurance plan under the Income-tax Act, 1961, subject to certain conditions.
You can buy the ABSLI Income Suraksha Plan starting at Rs. 812 per month* from Policybazaar.
(*Premium price for a 33-year-old non-smoking man with a salary over Rs. 25 Lakhs, opting for a 30-year policy term)
ABSLI Income Suraksha Plan is exclusively available on Policybazaar now. Here’s why you should consider buying the ABSLI Income Suraksha Plan from Policybazaar:
Affordable Premium Rates: Policybazaar offers you with an option to compare and select a plan as per your need
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: 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.
˜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.
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