Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), recently announced the launch of an industry-first, new-age savings solution ABSLI Nishchit Laabh Plan, a non-linked non-participating individual life insurance savings plan that provides guaranteed returns with maximum flexibility.
The ABSLI Nishchit Laabh Plan provides an optimal blend of financial protection, guaranteed returns & utmost agility by enabling the policyholders to choose between endowment, income with lump sum and moneyback options. Policyholders will have the facility to assess and align their policy with their life goals by choosing the benefits option at the inception of the policy.
Commenting on the launch of ABSLI Nishchit Laabh Plan, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance said, “At Aditya Birla Sun Life Insurance, it is our goal to provide innovative and affordable life insurance solutions to our customers. Our newest offering, ABSLI Nishchit Laabh Plan will empower our policyholders to customize their plan according to their needs. Along with guaranteed benefits, policyholders will receive increased returns in the form of loyalty addition as well.”
The plan aims to provide a long-term corpus creation option with a policy term spanning between 20 and 42 years. Further, policyholders will be able to boost their maturity corpus through loyalty additions. Along with desired agility, policyholders will get to be benefactors of assured protection cover across policy terms, further reducing risk in their portfolio.
The maximum entry age to avail ABSLI Nishchit Laabh Plan is 60 years, while the minimum age is 30 days. To avail of the plan, the policyholders can choose to pay a minimum yearly premium of ₹15,000.
The plan comes with flexible Premium Payment Terms (PPT) and allows the policyholders to choose from a wide range of policy terms to fit individual needs. Under the “Income with Lumpsum” option, the policyholder can choose between 8, 10 & 12 years as PPTs along with an income term of 20 and 30 years. If the policyholder wishes to choose either an endowment or money-back option, the PPTs will remain the same, however, the policy term will be 20 and 25 years only.