• Download mobile app
11 Aug 2022, Edition - 2585, Thursday

Trending Now

  • Covid 19: India reports 16,167 new cases and 41 deaths in last 24 hours
  • SP leader’s car hit by truck, dragged for 500 metres in UP’s
  • Breaking glass ceiling, CSIR gets first woman director general in N Kalaiselvi

Coimbatore

Aditya Birla Sun Life Insurance launches ABSLI Fixed Maturity Plan

Covai Post Network

Share

Coimbatore: Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), announces the launch of a new-age savings solution ABSLI Fixed Maturity Plan (UIN 109N135V01), a non-linked, non-participating endowment product providing fully guaranteed benefits as a lump-sum on maturity. This plan is designed to offer policyholders short & long-term financial security by integrating FD beating returns and protection.

USP of ABSLI Fixed Maturity Plan

· Simplified Design – One-time Single Pay (Single Premium Payment Term) with minimum policy term of 5 years, maximum up to 10 years

· Complete Liquidity at no cost –No penalty on early surrender of policy.

· FD Beating Returns – Up to 6.41%

· Guaranteed Maturity Benefits – Non-linked, non-participating endowment product providing fully guaranteed benefits

· Sum Assured Multiple Options – 1.25X to 1.77X or 10X to 10.42X

ABSLI Fixed Maturity Plan provides industry best returns of up to 6.41% along with a life cover. These interest rates are higher than the Fixed Deposit rates offered by most major banks in the country.

Through its new simplified savings solution, ABSLI helps its policyholders get a hassle-free financial guarantee to fulfil their dreams.

The plan is a single pay proposition (premium payment term) like a fixed deposit and allows the policyholder to choose from a wide range of policy terms (5-10 years) to fit individual needs. Also, starting at 100%, the surrender benefit will increase by 1% every year, ensuring policyholders do not lose their money in case they have to surrender the policy. Through its new offering, ASBLI intends to cater to investors who prefer simplified product like fixed deposits.

Commenting on the launch of ABSLI Fixed Maturity Plan, Mr Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said, “In this era of uncertainties, we continuously look forward to helping our policyholders with solutions providing them with necessary financial assurance and covering them suitably in the advent of any eventuality. The ABSLI Fixed Maturity Plan gives the required cushion of financial guarantee for all their dreams with industry best returns, allowing them to plan their investments accordingly. It also provides them with a comprehensive life cover which safeguards their family in case of an eventuality. Along with FD beating returns the plan enables the policyholders to benefit from all the conventional features of a life insurance savings plan.”

ABSLI Fixed Maturity Plan offers the benefit of choosing from a range of varied sum assured. The policyholders can either avail of Option A (1.25X to 1.77X sum assured) or Option B (10X to 10.42X sum assured). The returns will depend on the choice of sum assured; thus, Option A will attract higher returns as compared to Option B.

Key features of ABSLI Fixed Maturity includes:

Guaranteed Maturity: Customers to get fully guaranteed benefits irrespective of market conditions.

Financial Security: Customers to get comprehensive risk cover in case of death of the life insured.

Flexibility: Customers to get a choice of Policy Terms (5-10 years) and sum assured multiples.

Policy Loan: The minimum policy loan can be Rs. 5,000 and the maximum of 80% for Plan Option A & 65% for Plan Option B of the applicable Surrender Value less any outstanding policy loan balance as on that date

Tax Benefits: Tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits

The maximum entry age to avail of the plan is 60 years (Option A) and 50 years (Option B), while the minimum age is 8 years. Furthermore, the minimum annualized premium is Rs. 12,000 and minimum sum assured is Rs.15000.

The maximum entry age to avail of the plan is 60 years (Option A) and 50 years (Option B), while the minimum age is 8 years. Furthermore, the minimum annualized premium is Rs. 12,000 and minimum sum assured is Rs.15000.

Boiler Plate:

About Aditya Birla Sun Life Insurance, an Aditya Birla Capital Company

Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a part of Aditya Birla Capital Ltd (ABCL). ABSLI was incorporated on August 4th, 2000 and commenced operations on January 17th, 2001. ABSLI is a 51:49 a joint venture between the Aditya Birla Group and Sun Life Financial Inc., an international financial services organization in Canada.

ABSLI offers a range of products across the customer’s life cycle, including children future plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans and Unit Linked Insurance Plans (“ULIPs”).

As of March 2022, total AUM of ABSLI Stood at Rs.6,07,957 million. ABSLI recorded a gross premium income of Rs. 1,21,042 million in FY 2021-22 and registering a y-o-y growth of 24% in Gross Premium with Individual Business FYP at Rs 24,417 Mn. ABSLI has a nation-wide distribution presence through 340+ branches, 7 bancassurance partners, 6 distribution channels, over 79,500+ direct selling agents, other Corporate Agents, and Brokers and through its website. The company has over 18,500 employees and more than 18 lac active customers.

Subscribe To Our Newsletter

COIMBATORE WEATHER