Bangalore, June 23, 2023: Aditya Birla Sun Life Insurance Company Limited (“ABSLI”), the life insurance subsidiary of Aditya Birla Capital Limited (“ABCL”), announces the launch of a comprehensive retirement solution ABSLI Nishchit Pension Plan. It is a Non-linked, Non-Participating Individual Pension Plan that enables the policyholders to plan for their retirement. The plan helps in accumulating a 100% guaranteed corpus, this corpus can be used to secure an uninterrupted income throughout the golden years.
ABSLI Nishchit Pension Plan provides utmost simplicity and flexibility. This plan offers accrued guaranteed additions during the policy term and loyalty addition at the end of the policy term, provided the policy is in-force and all due premiums have been paid. Under this plan, the policyholders will be able to accumulate 100% guaranteed corpus at desired retirement age and will get to be a benefactor of uninterrupted guaranteed income, post their retirement. The plan also provides the flexibility to defer Vesting Benefit by up to 10 years.
Commenting on the launch of ABSLI Nishchit Pension Plan, Mr. Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said, “As our country continues to witness robust growth, it’s only natural that the life expectancy will continue to improve, that’s where the role of pension plans become crucial. Our newest offering, ABSLI Nishchit Pension Plan entails an optimal blend of simplicity & flexibility. It nudges the policyholder to inculcate the habit of disciplined savings in their lifestyle and empowers them to make their retirement more financially secured. We believe in providing our customers with the tool and support to protect their financial needs and ABSLI Nishchit Pension Plan is a testament to our commitment.”
ABSLI Nishchit Pension Plan enables the policyholders to customise their plans according to their retirement goals, in that, it provides flexible PPT (Premium Payment Term) & PT (Policy Term) options.
Policyholders can choose from multiple premium payment term options, ranging from 5, 6, 8, 10, 12 years & Regular Pay options.
The maximum entry age to avail ABSLI Nishchit Pension Plan is 65 years, while the minimum entry age is 30 years. The minimum annualized premium is Rs. 20,000. The maximum age to avail the vesting benefit is 75 years, while the minimum vesting age is 45 years.
The plan also offers Life Insurance cover throughout the Policy Term. In case of an unfortunate circumstance, the plan provides a lump sum Death Benefit to the Nominee(s)/heir(s), provided that the policy is In-force.
