Aditya Birla Sun Life Insurance, the life insurance subsidiary of Aditya Birla Capital Limited, announced the launch of new-age savings solution ABSLI Nishchit Laabh Plan. This is a non-linked non-participating individual life insurance savings plan that provides guaranteed returns with maximum flexibility.

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ABSLI Nishchit Laabh Plan provides a blend of financial protection, guaranteed returns and utmost agility by enabling the policyholders to choose between endowment, income with lump-sum and moneyback option, the insurer said.

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, “ABSLI Nishchit Laabh Plan will empower 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 offers long-term corpus creation option with policy term spanning between 20-42 years. Further, policyholders will be able to boost their maturity corpus through loyalty additions. Along with desired agility, policyholders will get to be a benefactor of assured protection cover across policy term, further reducing risk in their portfolio, the firm said.

The plan comes with flexible Premium Payment Terms (PPT) and allows the policyholders to choose from a wide range of Policy Terms (PT) to fit individual needs. Under Income with Lumpsum Option, the policyholder can choose between 8, 10 and 12 year as Premium Payment Term (PPT) along with an Income Term of 20 and 30 years. If the policyholder wishes to choose either Endowment or Moneyback option, the Premium Payment Term (PPT) will remain same, however, the policy term will be 20 and 25 years only.

The maximum entry age to avail ABSLI Nishchit Laabh Plan is 60 years, while the minimum age is 30 days. To avail the plan, the policyholders can choose to pay a minimum annualized premium of Rs 15,000

(Edited by : Anshul)

First Published:Aug 16, 2023 1:02 PM IST