Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), announced the launch of a hyper-flexible savings plan, ABSLI Vision LifeIncome Plus Plan.
ABSLI Vision LifeIncome Plus Plan offers tax-free guaranteed additional income for life. It also provided the benefit of liquidity or cash in hand whenever one requires funds.
Commenting on the launch, Kamlesh Rao, MD and CEO, Aditya Birla Sun Life Insurance, said, “ABSLI Vision LifeIncome Plus Plan will cater to this immediate need of customers by maximizing their income and minimising 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 offers the following benefits as per customer’s requirements:
Choice of 3 benefit options
- Short Term Income: Guaranteed monthly income payable for 10 years including bonuses this can be an ideal solution for salaried individuals below 45 years, who can plan for secured income or early retirement.
- Long Term Income: Guaranteed annual income payable for 20, 25, 30 years including bonuses.
- Whole Life Income: Guaranteed annual income payable for till age 85 or age 100 including bonuses.
Guaranteed regular income: A regular flow of guaranteed income for the customers’ chosen benefit pay-out period.
Flexible bonus payouts: Bonus declared in the form of ‘paid up additions’, that can be accrued to build a wealth corpus or a contingency fund. The ‘paid up additions’ can also be availed as cash pay-outs from first policy year onwards for instant liquidity needs. The plan shall also come with the additional flexibility to partially/fully withdraw the accrued paid up additions anytime during the policy term.
Comprehensive life cover: The plan offers life insurance cover until age 100 years. This plan shall offer a lump-sum benefit to the nominee, in case of unfortunate death of the life insured anytime during the policy term. Additionally, on opting for the Short Term Income option, this customizable plan will offer an inbuilt policy continuance benefit, 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.
Customisable benefits: Option to hyper-personalise this comprehensive plan by enhancing it with riders to suit customer’s requirements at a nominal cost.