Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), announced the launch of an annuity plan - ABSLI Guaranteed Annuity Plus. This single premium plan offers guaranteed regular income for one’s retirement and future financial needs, ensuring a stress-free and sustained lifestyle, according to a press release.
The plan allows individuals aged minimum forty-five years to choose from 10 annuity options: from single life to joint life, each tailored to an individual’s post-retirement goals. The product is available on both individual and group platforms.
Commenting on the launch, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said, “Keeping our customers’ unique needs in mind, we have ensured that the plan provides multiple annuity options to choose from, ensuring our customers and their loved ones continue to enjoy their current lifestyle, during the golden years of their life.”
ABSLI Guaranteed Annuity Plus offers following benefits ensuring financial independence in retirement:
Guaranteed lifelong income: Annuity once purchased is guaranteed for life.
·Option to receive annuity payments: Option to choose a single life or a joint life annuity.
Retirement planning made easier: With the deferred annuity option, the customer has the choice to plan early for his/her retirement and lock annuity rates at present for a guaranteed life-long payment.
Wide range of annuity options: Choose from various annuity options to suit respective financial needs.
· Option to increase annuity: The customer can increase the annuity through Top-up option.
