MUMBAI:
Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), today announced the launch of its new plan ABSLI Assured FlexiSavings Plan.
It offers fully guaranteed benefits and allows policyholders an instant access to their money by giving them the flexibility to make unlimited withdrawals from their policy. The flexibility to make unlimited withdrawals is hitherto unseen in the insurance market- making it a market differentiator for this product. Besides life cover, it aims to provide guaranteed benefits to provision for future goals while empowering customers with liquidity at hand, to fulfil short term goals or unplanned money needs.
ABSLI Assured FlexiSavings Plan is a fully guaranteed, non-linked non-participating life insurance plan. This plan provides annual Income to the policyholder which is accumulated for 10 years or 12 years till the end of the policy term. These annual incomes grow with a 5% Income Booster added every year to augment savings, provided it is not withdrawn. Additionally, the specialty of this plan is that it provides flexibility to withdraw the accrued amount as and when needed, with no restrictions or charges on withdrawals. Moreover, the plan returns 110% of total premiums paid, back to the policyholder during policy maturity. It also offers a one-time loyalty addition on the accumulated amount under the policy.
Commenting on the launch, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance said, “During unprecedented times, most people become risk averse, while enhancing their liquidity provisioning. This results in customers taking a conservative approach, which leaves them with limited options of saving and growing their hard-earned money. ABSLI’s Assured FlexiSavings Plan aims at locking in the benefit of long-term guaranteed returns while unlocking the flexibility of withdrawals or liquidity, as and when required. Guaranteed tax- free returns with liquidity along with life cover, will enable customers to continue achieving their financial milestones in a break-free and stress-free manner”.
ABSLI Assured FlexiSaving Plan provides four benefits-
1. Upto 105% of annual premium added every year (depending upon the premium payment term chosen by the policyholder)
2. 5% Income booster annually which enhances the accrued amount further
3. Upto 25% (depending on the premium payment term and policy term chosen by the policyholder) loyalty addition on the total accrued amount is added to the policy at the end of the policy term
4. 110% of total premiums paid is additionally paid as maturity benefit in addition to the accrued amount under the policy
ABSLI Assured FlexiSaving Plan is designed for customers who are looking for guaranteed wealth and ease of liquidity, while protecting their loved ones during the time of
uncertainties. Besides offering guaranteed returns and an instant access to money, it also provides protection with a comprehensive life cover across the policy term, additional riders and a variety of Premium Payment Terms.
