Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), launched a flexible savings plan named ‘Vision LifeIncome Plus Plan’ to provide guaranteed regular income along with flexible bonus payouts to policyholders.
- It is a non-linked participating individual plan that is designed as a customizable savings plan and suitable for the customer’s financial needs at all stages of life.
Note – Non-Linked Insurance Plans are plans that are not linked to the stock market. It provides low-risk returns and a well-defined maturity amount and bonuses.
About the savings plan:
Key points:
i.The savings plan provides a guaranteed regular income for the customers up to 30 years with the benefits of a life insurance cover.
ii.It provides tax-free guaranteed additional income for life, apart from offering the benefit of liquidity or cash in hand whenever the customer requires funds.
Choice of 3 Benefit options:
- The savings plan provides the choice of 3 benefit options which includes, short-term income, long-term income, and whole life income.
Short-term income – leads to monthly income for 10 years to salaried individuals below 45 years
Long term income – will provide annual income for 20, 25, 30 years
Whole life income- will provide annual income till the age of 85 years/100 years
Flexible bonus payouts:
The bonus declared in the form of ‘Paid Up Additions’, can be availed as cash pay-outs from the first policy year onwards for instant liquidity needs or could be withdrawn partially/fully anytime during the Policy Term.
Life Insurance Cover:
The plan offers life insurance cover until age of 100 years and it will offer a lump-sum benefit to the nominee, in case of unfortunate death of the life insured anytime during the policy term.
Recent Related News:
On 16th April 2021, Birla Cellulose Limited, largest global man made cellulosic fibre producer, a part of the Aditya Birla Group won the first edition of National Innovative and Sustainable Supply Chain Award presented by the Global Compact Network India (GCNI), the Indian Local Network of the United NationsGlobal Compact (UNGC).
About Aditya Birla Sun Life Insurance(ABSLI):
Establishment – 2000(commenced operation at 2001)
Headquarters – Mumbai, Maharashtra
MD&CEO – Kamlesh Rao
