Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), announces the launch of a non-linked, a new-age savings solution – ABSLI Fixed Maturity Plan (UIN 109N135V01). This plan is designed to offer policyholders short & long-term financial security by integrating FD beating returns and protection. It provides returns of up to 6.41% along with a life cover.
The plan is a single pay proposition like a fixed deposit and allows the policyholder to choose from a wide range of policy terms (5-10 years) to fit individual needs. Also, starting at 100%, the surrender benefit will increase by 1% every year, ensuring policyholders do not lose their money in case they have to surrender the policy. The Plan offers the benefit of choosing from a range of varied sum assured. The policyholders can either avail of Option A (1.25X to 1.77X sum assured) or Option B (10X to 10.42X sum assured). The returns will depend on the choice of sum assured; thus, Option A will attract higher returns as compared to Option B. The key features include Guaranteed Maturity, Financial Security, Flexibility, Policy Loan and Tax Benefits. The maximum entry age to avail of the plan is 60 years (Option A) and 50 years (Option B), while the minimum age is 8 years. The minimum annualized premium is Rs. 12,000 and minimum sum assured is Rs.15000.
Mr Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said, “Along with FD beating returns the plan enables the policyholders to benefit from all the conventional features of a life insurance savings plan.”