You earn and work hard to accomplish your dreams and aspirations at every stage of life. In this journey, you will come across some unexpected financial commitments as well as planned ones like marriage, child education etc. Thus, regular income is an eminent need for everyone at all stages of life. Along with regular income, one needs the support of insurance cover, that will not only help in fulfilling your dreams but will also take care of your near and dear ones in case you are not around.
Introducing ABSLI SecurePlus Plan, a non-linked non-participating individual savings life insurance plan, that provides the benefit of a comprehensive life insurance cover along with regular income, to ensure fulfilment of your family’s financial goals and aspirations. What’s more you have the option to customize your plan through multiple riders
Guaranteed^ Income: Get regular flow of guaranteed^ income for Your chosen Benefit Payout Period to safeguard Your savings.
Loyalty Additions: Loyalty Additions as an additional boost to Your Income Benefit pay-out
Commutation Option: Flexibility to receive a discounted value of future survival benefits as a lump sum based on Your needs
Customizable Benefits: Option to enhance Your insurance cover through riders, which are available at a nominal extra cost
In case of death of the Life Insured anytime during the Policy Term, provided the Policy is in-force and not under Lapsed or Reduced Paid Up mode, We will pay the “Sum Assured on Death” to Your nominee/beneficiary:
“Sum Assured on Death” is defined as higher of:
Where,
Sum Assured is a multiple, depending upon Life Insured’s age at inception of the Policy, of the Annualized Premium.
Annualised Premium (AP) is the amount of premium payable in a year chosen by the Policyholder, excluding taxes, rider premiums, underwriting extra premiums and loadings for modal premiums (if any).
Total Premiums Paid means total of all the premiums received, excluding any underwriting extra premium, any rider premium, taxes and loadings for modal premiums (if any).
Sum Assured Multiple:Sum Assured multiple is as mentioned in the table below:
Age at entry
Multiple of AP
1
15.9
13
14.7
25
13.5
37
12.3
49
11.1
2
15.8
14
14.6
26
13.4
38
12.2
50
11
3
15.7
15
14.5
27
13.3
39
12.1
4
15.6
16
14.4
28
13.2
40
12
5
15.5
17
14.3
29
13.1
41
11.9
6
15.4
18
14.2
30
13.0
42
11.8
7
15.3
19
14.1
31
12.9
43
11.7
8
15.2
20
32
12.8
44
11.6
9
15.1
21
13.9
33
12.7
45
11.5
10
22
13.8
34
12.6
46
11.4
14.9
23
13.7
35
12.5
47
11.3
14.8
24
13.6
36
12.4
48
11.2
If the Life Insured’s age at inception of the policy is greater than 50 years, the Policyholder can choose the Sum Assured multiple as per either of the following two options:
Option 1
Option 2
51
7.9
56
7.4
52
7.8
57
7.3
53
7.7
58
7.2
54
7.6
59
7.1
55
7.5
60
The Sum Assured Multiple can only be chosen at policy inception and cannot be changed thereafter.
Staggered Death Benefit Option
The nominee/beneficiary will have an option to receive the Death Benefit in annual/monthly installments payable at the end of the year/month instead of a lump-sum, over a period of 5 years as per the percentages given below:
Installment Frequency
Annual
Monthly
Installment (as % of Death Benefit)
21.758%
1.8492%
Total payments (as % of Death Benefit)
108.792%
110.952%
The above percentages are determined using an interest rate of 4.40% p.a. We may revise the installment based on the then prevailing market conditions subject to prior approval from IRDAI. Also, any change in the methodology/formula for calculating the installment shall be subject to IRDAI approval.
Once the Installment mode has been opted by the nominee/ beneficiary, it cannot be changed later.
If, having elected the Staggered Death Benefit Option, the nominee/ beneficiary would subsequently like to get a lump sum instead of the installments anytime during the 5 year period; a discounted value of the outstanding benefits shall be paid to the nominee/beneficiary as a lump sum. The monthly discounting factors have been determined using a discount rate of 8.40% p.a. This lump sum will be at least equal to the Sum Assured on Death less any installments already paid.
On surviving till the end of Policy Term, Income Benefit is payable to You for 6, 8, 10 or 12 years at the end of the period (monthly, quarterly, half yearly or annually) as per the Benefit Payout Frequency chosen.
The Survival Benefit applicable is mentioned below:
Income Benefit:Income Benefit, expressed as a percentage of Annualized Premium, will be paid to You which varies by Your Age at entry, Premium amount, Premium Payment Term and Benefit Payout Period.
Sample Income Benefit (as a percentage of Annualized Premium) paid annually has been given below:For Band 1:
Benefit Payout Period – 6 years
PPT/PT (in years)
6-6
8-8
10-10
12-12
Life Insured’s Age at inception <=50 years
79.00%
114.10%
164.60%
205.40%
Life Insured’s Age at inception 51 - 55 years
73.70%
110.30%
151.50%
188.20%
Life Insured’s Age at inception 56 - 60 years
69.70%
103.90%
141.90%
171.40%
For Band 2 & onwards:
81.20%
116.30%
170.10%
213.00%
77.80%
112.40%
161.20%
202.60%
76.60%
109.70%
155.90%
194.50%
For entry ages above 50 years, if the Policyholder chooses Sum Assured multiple as per Option 2, the Income Benefit is enhanced by 2%.
Loyalty Addition:
We will enhance Your Income Benefit every year during the Benefit Payout Period by adding a Loyalty Addition, provided all premiums have been paid during the Premium Paying Term.
Loyalty Addition is defined as a percentage of the Income Benefit and is specified in the table below:
Annualized Premium Band
Loyalty Addition
(as a % of Income Benefit)
Band 1 & 2
50.00%
Band 3
51.25%
Band 4
52.25%
Band 5
53.00%
Band 6
53.35%
In case of death of the Life Insured during the Benefit Payout Period, the Income Benefit and Loyalty Addition will continue to be paid to the nominee/beneficiary.
Please Note, Loyalty Addition is applicable only for policies that have paid all the due premiums under the policy.
Benefit Payout Frequency:
At policy inception, You will have the option to receive the Income Benefit in annual or semi-annual or quarterly or monthly frequency. You have the flexibility to change the chosen Benefit Payout Frequency during the Policy Term or during the Benefit Payout Period as per Your changing needs. In case the Benefit Payout Frequency is changed during the Benefit Payout Period, the change will be effective from the subsequent policy anniversary.
For annual frequency, Income Benefit is as explained in the tables above. For semi-annual, quarterly and monthly frequency, the Income Benefit shall be based on the annual Income Benefit as given below:
Benefit Payout Frequency
Income (per frequency)
(as a % of Income Benefit for Annual Benefit Payout Frequency)
Semi – annual
49%
Quarterly
24.25%
8%
At the end of the Policy Term, You will have the flexibility to use the commutation option wherein, at any time on or after end of the Policy Term, if You would like to get a lump sum instead of the Income Benefits, the commuted value of the outstanding benefits shall be paid as a lump sum.
This lump sum will be at least equal to the Total Premiums Paid less Survival Benefit, if any, already paid. The commutation option can also be exercised by the Nominee/legal heir after the death of the Policyholder.
The lump sum benefit is calculated using factors determined by a discount rate of 7.79%. The Company may revise the factors based on the then prevailing market conditions subject to prior IRDAI approval. Any change in the methodology/formula for calculating the factors shall also be subject to IRDAI approval.
For added protection, You can enhance Your risk coverage during the Policy Term by adding following riders at a nominal extra cost.
provides lump sum on survival of 30 days from the date of diagnosis of any of the specified critical illnesses. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term.
provides lump sum benefit in case of hospitalization for a minimum period of 24 hours for undergoing medically necessary surgery in India. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term.
provides daily cash benefit in case of hospitalization for a minimum period of 24 hours for medically necessary treatment of any Illness or Injury payable from the first day for the duration of hospitalization. This rider is only applicable for a Life Insured aged 18 years and above and the rider Policy Term cannot exceed the base Policy Term.
waives off all future premiums of the base plan and the attached riders throughout the rest of the premium payment in case of diagnosis of Critical Illness, Disability or Death (only if Life Insured is a minor i.e. below 18 years of age and is different from the Policyholder).
All the riders provide cover independent to each other. Policyholder would be entitled for rider benefits under each of the riders (including base product).
The rider (s) shall be offered in compliance with the Master Circular on Life Insurance Products, 2024.
- In no case, the rider premium relatable to health related or critical illness rider shall exceed 100% of premium under the basic product. All other riders put together shall be subject to ceiling of 30% of premium of basic product.
- Any benefit arising under each of the above mentioned riders shall not exceed the sum assured under the base product except for Accidental death benefit riders where the rider sum assured is limited to a maximum of three times of base sum assured.
For further details regarding the above-mentioned riders, please refer to respective rider brochure(s) available on our website.
Product Specifications
Type of Plan
A Non-Linked Non-Participating Individual Savings Life Insurance Plan
Coverage
All Individuals (Male | Female | Transgender)
Age of the Life Insured at Entry (age as on last birthday)
Minimum
1* year
* In case the Life Insured is a minor, the Policy will automatically vest once the life insured attains the age of majority. The risk coverage for the minors will start from the policy issue date.
Maximum
60 years
Maturity Age of the Life Insured (age as on last birthday)
18 years
77 years
Premium Payment Term (PPT), Policy Term (PT) and Benefit Payout Period
Premium Payment Term (PPT)
Policy Term (PT)
Benefit Payout Period
6 years
6/7/8/9/10/11 years
6/8/10/12 years
8 years
8/9/10/11/12/13 years
10 years
10/11/12/13/14/15 years
12 years
12/13/14/15/16/17 years
Note:-
1) The PPT and PT once chosen at policy inception, cannot be changed thereafter.
2) The Benefit Payout Period commences after the end of the Policy Term, during which the Survival Benefit is payable to the Policyholder. It is chosen at policy inception and cannot be changed thereafter.
Premium Payment Frequency and Modal Factors
Annual | Semi-Annual | Quarterly | Monthly
Mode
Semi-annual
Modal Factors
0.0%
3.5%
5.0%
6.0%
Minimum Annualized Premium
` 50,000
Maximum Annualized Premium
No Limit (subject to Board Approved Underwriting Policy)
Minimum Sum Assured
` 3,50,000
Maximum Sum Assured
Premium bands
The benefits under this product vary by premium bands as mentioned below:
Premium Bands
Band 1
Band 2
Annualized Premium (in `)
50,000
to 74,999
75,000
to 1,49,999
1,50,000
to 2,99,999
3,00,000
to 4,99,999
5,00,000
to 24,99,999
25,00,000+
DBS Bank India Limited (IRDAI of India Registration Number: CA 0257) having the registered office at GF: Nos. 11 & 12, Capitol Point BKS Marg, Connaught Place, Delhi - 110001 is the Corporate Agent of Aditya Birla Sun Life Insurance Company Limited. DBS Bank India Limited (Bank) does not underwrite the risk or act as an insurer. The Insurance product is underwritten by Aditya Birla Sun Life Insurance Company Limited. The contract of insurance is between the insurer and the insured and not between the Bank and the insured. Bank does not give any warranty, as to the accuracy and completeness of the policies. Bank does not accept any liability or losses attributable to your contract of Insurance. Participation by the Bank’s customers in the insurance products is purely on a voluntary basis and is not linked to availment of any other facility from the bank.
“The Trade Logo “Aditya Birla Capital” Displayed Above Is Owned By ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) And Used By ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the License.”
This Policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). All the benefits are payable subject to the terms and conditions of the Policy. This product shall also be available for sales through online channel. All policy benefits are subject to policy being in force. “We”, “Us”, “Our” or “the Company” or “ABSLI” means Aditya Birla Sun Life Insurance Company Limited. “You” or “Your” means the Policyholder. For other terms and conditions, request your Agent Advisor or intermediaries to give a detailed presentation of the product before concluding the sale. Should you need any further information from us, please contact us on the below mentioned address and numbers. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding the sale. Aditya Birla Sun Life Insurance Company Limited. Registered Office: One World Center, 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 https://lifeinsurance.adityabirlacapital.com IRDAI Reg No.109 |CIN: U99999MH2000PLC128110 UIN: 109N102V14 ADV/1/25-26/1581
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.
Contact us 1860 267 1234 / 1800 209 4555
Only from SG 800 852 6186
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