Bangalore, February 28, 2023: Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), announces the launch of an industry first, new-age savings solution ABSLI Nishchit Aayush Plan, a non-linked non-participating individual savings life insurance plan offering guaranteed regular income starting from as early as end of first policy month along with a lump-sum benefit at maturity.
ABSLI Nishchit Aayush Plan integrates financial protection and wealth creation by empowering the policyholders to fulfil their immediate liquidity requirements without any risk. Policyholders will have maximum flexibility to customise their plans with a choice of income benefits, multiple income variants, premium payment terms, policy terms and deferment periods, should they want to customize the plan.
Commenting on the launch of ABSLI Nishchit Aayush Plan, Mr Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said,
“ABSLI Nishchit Aayush Plan will enable our policyholders to leverage maximum flexibility & upfront liquidity in the form of a regular guaranteed income. Moreover, this plan will instil the idea of disciplined savings as it also provides lump-sum benefits and a regular source of income.
ABSLI Nishchit Aayush plan integrates the benefits of a guaranteed savings plan & desired agility, enabling the policyholders to achieve their goal of creating a secure future and a comfortable lifestyle for themselves and their loved ones. It is our constant endeavour at Aditya Birla Sun Life Insurance to help our customers with a life cover while also addressing their savings needs.”
ABSLI Nishchit Aayush plan provides competitive returns with high flexibility. The plan comes with flexible premium payment terms and allows the policyholders to choose from a wide range of policy terms to fit individual needs. They can avail the benefits of this plan on a long-term basis (25, 30, 35, 40 years) or whole life basis (100 – Age at entry). Furthermore, policyholders will have the flexibility to choose income variant i.e. Level Income with Lump-sum Benefit or Level Income with Enhanced Lump-sum Benefit or Increasing Income (@5% simple interest rate every 5 years) with Lump-sum Benefit. Policyholders can choose to receive income immediately or after a deferment period of 1 year as per their chosen income pay-out frequency.
The maximum entry age to avail ABSLI Nishchit Aayush Plan is 55 years, while the minimum age is 30 days (Long term income option) & 30 years (Whole life income). The minimum annualized premium is Rs. 30,000 Policyholders can choose from multiple premium payment term options ranging from 6, 8, 10, 12 years.