Birla Sun Life has unveiled a new life insurance plan, which offers a combination of savings and comprehensive financial protection, in India.

Dubbed as Vision LifeSecure Plan, the new cover provides an insured person with the flexibility to opt the sum assured and the policy term, while offering regular bonuses throughout the policy term as well as a life insurance benefit until the age of 100.

In addition, the cover offers revisionary bonus at the end of each fiscal during the term.

The company stated that if an insured person survives until the policy term-end, a maturity benefit is payable to the policyholder.

Birla Sun Life Insurance managing director and CEO Jayant Dua was quoted by the Press Trust of India as saying, "The overall life expectancy across age groups has grown, with the average longevity per person improving.

"With benefits payable on maturity and a life cover beyond the term of the policy up to 100 years of age, Vision LifeSecure Plan offers a combination of savings and comprehensive financial protection to you and your family," Dua added.

Birla Sun Life is a joint venture between Indian conglomerate Aditya Birla Group and Canada- based financial services provider Sun Life Financial.