Aditya Birla Sun Life Insurance launches ABSLI Nishchit Aayush Plan. Know details
1 min read . Updated: 27 Feb 2023, 02:48 PM IST
PremiumPolicyholders 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 customise the plan
New Delhi: Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), has launched a new-age savings solutionABSLI Nishchit Aayush Plan, a non-linked non-participating individual savings life insurance plan offering guaranteed regular income starting 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 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 customise the plan, said the firm.
The maximum entry age to avail ABSLI Nishchit Aayush Plan is 55 years, while the minimum age is 30 days (long term income option) and 30 years (whole life income). The minimum annualised premium is ₹30,000. Policyholders can choose from multiple premium payment term options ranging from 6, 8, 10, 12 years.
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."
Key features of ABSLI Nishchit Aayush Plan are:
· Immediate Liquidity + Lump-sum : Receive guaranteed income from the end of 1st/2nd policy year and lump-sum at maturity
· Choice of 2 Benefit Options: Flexibility to choose amongst Long Term Income and Whole-Life Income options.
· Multiple Income Variants : Flexibility to customize your regular income requirements as per your goals
· Agility: Choice of varied premium payment terms and policy terms, to suit ones requirements
· Benefit pay-out frequency – Flexibility to receive income benefit in annual or semi-annual or quarterly or monthly frequency
· Financial Security for your loved ones - Comprehensive life cover available for up to 100 years.
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, said the firm.