Everything You Need to Know About Vision Money- Back Plus

Aditya Birla Sun Life Insurance (ABSLI) provides the Vision MoneyBack Plus Plan, a classic participation plan that pays out lump sums to the insured on a regular basis, ensuring financial security. The ABSLI Vision MoneyBack Plus Plan ensures your family's liquidity (payouts as a percentage of the sum pledged) and financial security. The ABSLI Vision MoneyBack Plus Plan is a traditional Money Back Insurance Plan that provides liquidity in the form of regular money-back payouts as well as life insurance coverage. As a result, the plan enables the policyholder to easily meet his financial obligations by utilizing the payments provided.

Most Important Features of Vision MoneyBack Plus By Aditya Birla 

• You will receive a Guaranteed Return after a specific amount of time.
• Protect yourself and your family from financial risks.
• Based on your needs, choose the Policy Term and Sum Assured.
• There are several methods for determining the return period.

Benefits of Vision MoneyBack Plus Plan By Aditya Birla

The following are the main features of the ABSLI Vision Money Back Plan:

1. Guaranteed Survival Benefits

Money-back payouts known as Guaranteed Survival Benefits are made every four or five years, depending on the policyholder's request. The payment rate is expressed as a percentage of the Sum Assured and is determined by the policy term and payout frequency chosen.

2. Advantage of Maturity

If the life insured survives the policy period, accrued bonuses will be paid in addition to the terminal bonus. The policy will be cancelled after the maturity benefit has been paid.

3. Benefits on Death

The death benefit payable to the nominee if the life insured dies during the policy period is the Sum Assured Death plus any earned regular bonuses and terminal bonus. The death benefit is capped at 105 percent of the total premiums paid, plus any rider premiums and underwriting surcharges. The insurance is cancelled once the death benefit is paid.

4. Bonus

Simple reversionary bonuses are declared and paid each year the insurance is active under the plan.
At the plan's death or maturity, a terminal bonus may be awarded.

5. Loan

A loan can be taken out on the insurance when it has gained a Surrender Value. The maximum loan amount is 85 percent of the Surrender Value received, with a minimum loan amount of Rs.5000.

Conclusion

Vision  MoneyBack Plus Plan of Aditya Birla Sun Life Insurance is a typical participation plan that falls into this category and provides you with predictable liquidity to meet your financial demands as well as enough life insurance in the event of an unexpected disaster. You have the option of determining the length of your coverage, the quantity of coverage you choose, and when you want to pay your payments. Throughout the policy's duration, a fixed percentage of the guaranteed sum is paid out at the end of every fourth or fifth policy.

Also Read: A Detailed Comparison Between Money Back And ULIPs

What Makes Money Back Plans Unique From Other Life Insurance Plans?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.