Investment Plans 263 views May 6, 2020

ABSLI Vision Endowment Plus Plan

Everyone wants to expand their wealth so that in the future they have enough funds for their loved ones. But only earning through jobs or businesses is not enough to accumulate funds for the future. Therefore it is necessary to make an investment in order to enhance the savings. But an investment with protection would be a cherry on the cakes so many companies offer Endowment Insurance Plans. ABSLI Vision Endowment Plus Plan is one such plan that will help you to save and multiply your savings for your loved ones. Therefore, you must explore all the key features of this plan and see how the invested funds can be fruitful for your loved ones. It also gives financial security to your family and you can earn good returns.

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Key Features of Vision Endowment Plus Policy

  1. Flexible options to decide the amount of Sum Assured.
  2. Increase your savings with an investment.
  3. Provide financial protection to your loved ones.
  4. Add Riders to the plan and get more protection.
  5. Enjoy Tax Deductions under Section 80C of the Income Tax Act.

Benefits of ABSLI Vision Endowment Plus Policy

There are some benefits to this policy and it can help you to accumulate a lot of funds for your future. So you must see all the benefits before taking the plan.

Death Benefits

There are some death benefits in this plan and that means that if the insured dies during the policy term then the nominee will receive all the benefits given below:-

  1. Sum Assured on Death.
  2. Accrued Bonuses as on the date of the death.
  3. Terminal Bonus if any.

There are two options for the amount of the Sum Assured and the benefits are also different in both the options.

Option 1– The Sum Assured will be the maximum of the following in this option

  1. 100% of the Sum Assured.
  2. Maturity Sum Assured.
  3. 10 Times of the Annual Premium Payable.

Option 2– In this option, the value of the Sum Assured will be the maximum of the following:-

  1. 150% of the Sum Assured.
  2. Maturity Sum Assured.
  3. 10 Times of the Annual Premium Payable.

The death benefit will always be a minimum of 105% of the total premiums paid up to the date of death. The ABSLI Vision Endowment Plus Plan will be terminated once the death benefits are paid.

Maturity Benefits

If in case the insured survives the policy term then the company will pay the following sum of money:-

  1. Sum Assured at the time of Maturity.
  2. Accrued Bonuses till the date of maturity.
  3. Terminal Bonus if any.

Addition Riders Benefits

You can also add riders in the Vision Endowment Plus Plan and take additional protection. The riders option available are:-

  1. Accidental Death and Disability Rider
  2. Critical Illness Rider
  3. Surgical Care Rider
  4. Hospital Care Rider
  5. Waiver of Premium Rider
  6. Accidental Death Benefit Rider Plus

Reduced Premium Benefits

If you have paid all the premiums regularly for 3 years and discontinue paying it after 3 years then your policy will not lapse. The company will reduce the amount of premium and thus your Sum Assured, Sum Assured on Death, and Sum Assured at Maturity will also be reduced. You will have to pay the premiums for two years regularly if you have taken this plan for 7 years in order to enjoy the reduced premium benefits.

Surrender Benefits

After paying the premiums of the Vision Endowment Plus Policy for 3 years regularly, you can surrender the policy. Your policy will have a certain surrender value that you can obtain from the company in case of an emergency. The surrender value would be a certain percentage of all the premiums paid and it will be calculated by the company.

Policy Loan Benefits

If your policy has acquired a surrender value then you can take a loan against it. The minimum loan amount is INR 5000 with a maximum of 85% of the surrender value. The company will charge applicable interest on the loan amount.

Options Available in this Plan

There are four options available in this ABSLI Vision Endowment Plus Plan depending upon the Sum Assured. At the time of inception of the policy, you will have to choose the Sum Assured.

Option 1- Band 1

In this option, the value of the sum assured will be between INR 1 Lac to INR 199999.

Option 2- Band 2

In this option, the value of the sum assured will be between INR 2 Lacs to INR 399999.

Option 3- Band 3

In this option, the value of the sum assured will be INR 4 Lacs to INR 799999.

Option 4- Band 4

In this option, the value of the sum assured will be INR 8 Lacs and above.

About ABSLI Vision Endowment Plus Plan

ParticularsDetails
Minimum Age of Entry30 Days
Maximum Age of Entry60 Years subject to the Maximum Maturity Age of 70 Years
Premium Paying Term7 Years, 10 Years, 15 Years, and 20 Years Regular Pay
Minimum Sum AssuredINR 1 Lac
Minimum Premium AmountINR 2495 per annum
Premium Paying FrequencyMonthly, Quarterly, Half-Yearly, and Yearly

Apply for this Endowment Policy

As you know everything is getting digitalized so you can apply for the ABSLI Vision Endowment Plus Plan online. Just fill-up the application form given above and you will get a call from the company’s representative within 24 hours. Listen to all the offers and details of the policy and apply accordingly.

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