Aditya Birla Sun Life Insurance (ABSLI), the life insurance coverage subsidiary of Aditya Birla Capital Limited (ABCL), has announced the launch of a versatile savings program – ABSLI Vision LifeIncome Plus Plan – that offers assured common earnings plus versatile bonus payouts.
This non-linked participating person program has been made to offer you several program solutions which can be tailor-made to completely suit customers’ exclusive monetary demands across distinct life-stages. This savings program offers a policyholder with the comfort of a assured common earnings for up to 30 years to support them accomplish their evolving life ambitions whilst reaping the added benefits of a complete life insurance coverage cover. Additionally, the program also brings an upside via fully versatile bonus spend-outs which can be accumulated for wealth creation or withdrawn at the customer’s comfort for an immediate access to their dollars.
ABSLI Vision LifeIncome Plus Plan provides tax-no cost assured more earnings for life, apart from giving the advantage of liquidity or money in hand anytime one needs funds.
Commenting on the launch, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, stated, “Amid the uncertainty caused by the pandemic, ups and downs in the economy and the markets, saving sufficiently for the future —tomorrow or three decades from now — has become extremely crucial. Individuals today need plans which can be personalized to fit their unique needs at different life stages and can assure complete security of future financial goals. ABSLI Vision LifeIncome Plus Plan will cater to this immediate need of customers by maximizing their income and minimizing risk. This holistic solution will not only help individuals meet their short and long-term financial requirements, do legacy planning but will also offer bonus income to further increase wealth or build contingency fund.”
ABSLI Vision LifeIncome Plus Plan provides the following added benefits, thereby giving adequate flexibility to customize the solution as per customer’s needs:
1. Choice of 3 Benefit solutions: Flexibility to select amongst 3 Benefit Options i.e. Short-Term Income, Long Term Income and Whole Life Income (Till Age one hundred or Till Age 85) to cater to customers’ demands across all life stages.
- Short Term Income – Guaranteed Monthly Income Payable for 10 years plus Bonuses. This can be an perfect resolution for salaried folks under 45 years, who can program for secured earnings or early retirement.
- Long Term Income – Guaranteed Annual Income Payable for 20, 25, 30 years + Bonuses. This can support folks cater to precise milestones and develop legacy.
- Whole Life Income – Guaranteed Annual Income Payable for till Age 85 or Age one hundred + Bonuses. This is an perfect program for retirement and legacy preparing.
2. Guaranteed Regular Income: A common flow of assured earnings for the customers’ selected Benefit Pay-out Period to safeguard their savings
3. Flexible Bonus Payouts: Bonus declared in the type of ‘Paid Up Additions’, that can be accrued to develop a wealth corpus or a contingency fund. The ‘Paid Up Additions’ can also be availed as money spend-outs from initial policy year onwards for immediate liquidity demands. The program shall also come with the more flexibility to partially/completely withdraw the accrued Paid Up Additions anytime through the Policy Term.
4. Comprehensive Life Cover: The program provides life insurance coverage cover till age one hundred years. This program shall offer you a lump-sum advantage to the nominee, in case of unfortunate death of the life insured anytime through the Policy Term. Additionally, on opting for the Short Term Income selection, this customizable program will offer you an inbuilt policy continuance advantage, which shall waive off remaining premiums in case of the unfortunate death of the life insured and thereby safeguard the customer’s family’s future in his/her absence.
5.Customizable Benefits: Option to personalize this complete program by enhancing it with riders to suit customer’s needs at a nominal price.
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