1 min read.Updated: 06 Jan 2022, 02:32 PM ISTLivemint
Designed to offer comprehensive life insurance cover and income benefits, this non-linked, non-participating life insurance plan provides complete financial security by integrating savings and protection in one plan
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Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), announces the launch of an improved version of its new-age savings solution, ABSLI SecurePlus Plan.
Designed to offer comprehensive life insurance cover and income benefits, this non-linked, non-participating life insurance plan provides complete financial security by integrating savings and protection in one plan.
According to the press release, "ABSLI SecurePlus plan aims to give increased flexibility and allow customers to choose from various premium payment terms, policy terms, and pay-out periods, and help them fulfil their desired financial milestones. While the plan provides fully guaranteed benefits on earlier death or maturity, the regular income feature in the plan is highly competitive and is designed to take care of short to medium-term needs of the customer."
Key features of the ABSLI SecurePlus Plan:
Guaranteed Benefit: Assured income pay-outs to cater to customer’s life’s key goals
Loyalty Additions: On the payment of all premiums, loyalty addition is paid along with income benefit pay-out
Flexibility: Flexibility to choose from various Premium Payment Terms, Policy Terms, and Benefit pay-out periods
Financial Security for loved ones: Comprehensive risk cover in case of death of the life insured
Commutation Option: Lump sum amount instead of income benefits basis customer’s needs
Enhanced Protection: Customers can avail extra protection by attaching riders to the policy
Besides the guaranteed income benefit, the plan allows policyholders to further enhance their total income pay-outs by offering accrued loyalty addition, provided all due premiums are paid. Policyholders will also be eligible to receive tax benefits on premiums paid and benefits received, as per prevailing tax laws, as per the press release.
Customers can further tailor the plans by availing choices such as commutation option, multiple riders for enhanced protection, and flexibility to choose the sum assured multiple, and create an all-inclusive customized solution for their financial needs.
Commenting on the launch of the ABSLI SecurePlus Plan, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said, “The ongoing pandemic has made customers more conscious of the impact of their financial planning. As part of our customer-centric approach, we aim to offer simple, innovative solutions aligned to customer needs. Currently, customers need agile saving options with comprehensive risk coverage to secure their family’s future."
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