Aditya Birla Sun Life Insurance Company Ltd, a subsidiary of Aditya Birla Capital Limited launched ABSLI Nishchit Pension Plan. This plan is developed exclusively to assist individuals in planning for their retirement by offering a 100 per cent guaranteed corpus, ensuring a safe and uninterrupted income during their golden years.
The ABSLI Nishchit Pension Plan includes several important elements. For starters, it helps policyholders to build up a guaranteed corpus by offering accrued guaranteed additions over the course of the policy term. A loyalty addition is also offered at the end of the policy term, as long as the policy is current and all premiums have been paid. These features ensure that policyholders can build up a completely guaranteed corpus by the time they reach their preferred retirement age, ensuring a regular income after retirement. Another noteworthy feature of the plan is its flexibility, which allows policyholders to postpone the Vesting Benefit for up to ten years. Individuals can fit their retirement plans with their own life goals thanks to this flexibility.
Kamlesh Rao, Managing Director & Chief Executive Officer, Aditya Birla Sun Life Insurance, stated that,”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.”
The ABSLI Nishchit Pension Plan provides policyholders with customisation options based on their retirement objectives. It offers versatile Premium Payment Term (PPT) and Policy Term (PT) options, letting individuals to select from premium payment term durations ranging from 5, 6, 8, 10, and 12 years, as well as regular pay options. The proposal specifies a maximum entry age of 65 and a minimum entry age of 30. The needed minimum annualised premium is Rs. 20,000. The vesting benefit is available to policyholders until the age of 75, with a minimum vesting age of 45 years.
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The ABSLI Nishchit Pension Plan provides life insurance coverage during the policy term in addition to retirement benefits. In the event of an untimely death, the plan pays a lump sum Death Benefit to the nominee(s)/heir(s) for as long as the policy is in place.
Aditya Birla Group operates with an extraordinary force of over 140,000 employees, belonging to 100 nationalities, and in 36 countries across the globe.
