ABSLI Assured Income Plus is a new plan announced by Aditya Birla Sun Life Insurance (ABSLI) which is a life insurance subsidiary of Aditya Birla Capital Limited (ABCL). ABSLI Assured Income Plus will offer a guaranteed monthly income to an individual which will be help fulfilling monetary requirements and their family’s needs for about 30 years.
The Assured Income Plus plan is a non-linked, non-participating individual savings plan that will offer options providing enough flexibility to customize the product as per the needs of an individual. It has two-income benefit options and allows the flexibility of 3 premium paying term options of 6,8 and 12 years. But in the case Income Only benefit option, it allows customers to fulfill their income needs, the Income Benefit with Return of Premium option helps in creating a legacy for loved ones, rather than the recurring income. Policyholders have the right to select the benefits annually, semi-annually, quarterly, or monthly for a period of 20,25 or 30 long years, according to an individual’s financial interest.
It also allows flexibility to commute all future incomes and return of premium, if any, as a lump sum, for a sudden monetary need. Also besides that, the plan provides risk coverage with a suitable comprehensive offer at a nominal charge. ABSLI Assured Income Plus also offers Sum Assured in a lump-sum to the nominee, in case of unfortunate death of the policyholder during any time of the policy term. Moreover, the nominee will have the right to receive the amount of Death benefit as he needed, either an annual or monthly installment instead of a lump-sum, more than 10 years duration.
Kamlesh Rao, MD, and CEO of Aditya Birla Sun Life Insurance said that the Assured Income Plus is an insurance policy that aims to offer guaranteed regular income to the individual, which can cater to the customer’s short and long-term financial requirements. It is planned and designed specifically for customers who are looking for an additional or alternate source of guaranteed long-term income. Other than these, the policy also offers an extensive life cover throughout the policy term. The goal of this particular plan is to help people to upgrade their lifestyle to a better one and fulfill their financial needs without compromise through a guaranteed inflow of recurring income stream, he added.
