Aditya Birla Sun Life Insurance launches Vision LifeIncome Plus, A Plan to Suit the Customer's Money Needs at all life stages

Mumbai (Maharashtra) [India], May 21 (ANI/NewsVoir): Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), announced the launch of a hyper-flexible savings plan - ABSLI Vision LifeIncome Plus Plan that provides guaranteed regular income plus flexible bonus pay-outs.
This non-linked participating individual plan has been designed to offer various plan options which can be tailor-made to perfectly suit the customers' unique financial needs across different life-stages.
This savings plan provides the customer with the comfort of a guaranteed regular income for up to 30 years, to help them achieve their evolving life goals while reaping the benefits of a comprehensive life insurance cover. Additionally, the plan also provides completely flexible bonus pay-outs which can be accumulated for wealth creation or withdrawn at the customer's convenience for instant access to their money.
ABSLI Vision LifeIncome Plus Plan offers tax-free guaranteed additional income for life, besides providing the benefit of liquidity or cash in hand whenever one requires funds.
Commenting on the launch, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said, "Amid the uncertainty caused by the pandemic, ups and downs in the economy and the markets, saving sufficiently for the future - tomorrow or three decades from now - has become extremely crucial. Individuals today need plans which can be personalized to fit their unique needs at different life stages and can assure complete security of future financial goals. ABSLI Vision LifeIncome Plus Plan will cater to this immediate need of customers by maximizing their income and minimizing risk. This holistic solution will not only help individuals meet their short and long-term financial requirements, aid legacy planning but will also offer bonus income to further increase wealth or build a contingency fund."
ABSLI Vision LifeIncome Plus Plan offers the following benefits, thereby providing enough flexibility to customize the product as per the customer's requirements:
Choice of 3 Benefit options: Flexibility to choose amongst three Benefit Options i.e. Short-Term Income, Long Term Income and Whole Life Income (Till Age 100 or Till Age 85) to cater to customers' needs across all life stages.
Short Term Income - Guaranteed Monthly Income Payable for 10 years + Bonuses This can be an ideal solution for salaried individuals below 45 years, who can plan for secured income or early retirement.
Long Term Income - Guaranteed Annual Income Payable for 20, 25, 30 years + Bonuses. This can help individuals cater to specific milestones and build legacy.
Whole Life Income - Guaranteed Annual Income Payable for till Age 85 or Age 100 + Bonuses. This is an ideal plan for retirement and legacy planning.
Guaranteed Regular Income: A regular flow of guaranteed income for the customers' chosen Benefit Pay-out Period to safeguard their savings
Flexible Bonus Pay-outs: Bonus declared in the form of 'Paid Up Additions', that can be accrued to build a wealth corpus or a contingency fund. The 'Paid Up Additions' can also be availed as cash pay-outs from first policy year onwards for instant liquidity needs. The plan shall also come with the additional flexibility to partially/fully withdraw the accrued Paid Up Additions anytime during the Policy Term.
Comprehensive Life Cover: The plan offers life insurance cover until age 100 years. This plan shall offer a lump-sum benefit to the nominee, in case of unfortunate death of the life insured anytime during the Policy Term.
Additionally, on opting for the Short Term Income option, this customizable plan will offer an inbuilt policy continuance benefit, which shall waive off remaining premiums in case of the unfortunate death of the life insured and thereby safeguard the customer's family's future in his/her absence.
Customizable Benefits: Option to hyper-personalize this comprehensive plan by enhancing it with riders to suit customer's requirements at a nominal cost.
About Aditya Birla Sun Life Insurance, an Aditya Birla Capital Company
Aditya Birla Sun Life Insurance Company Limited (ABSLI), is a life insurance subsidiary of Aditya Birla Capital Ltd. (ABCL). ABSLI was incorporated on August 4th, 2000 and commenced operations on January 17th, 2001. ABSLI is a 51:49 a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a leading international financial services organization in Canada.
ABSLI is one of India's leading life insurance companies offering a range of products across the customer's life cycle, including children future plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans and Unit Linked Insurance Plans ("ULIPs").
As of March 2021, total AUM of ABSLI Stood at Rs 526,151 million. ABSLI recorded a gross premium income of Rs 97,752 million in FY 2020-21 and registering a y-o-y growth of 22% in Gross Premium with Individual Business FYP at Rs 20,760 Mn. ABSLI is currently ranked 7th in Individual Business (Individual FYP adjusted for 10% single premium) (Source: IRDAI reported Financials).
ABSLI has a nation-wide distribution presence through 369 branches, 7 bancassurance partners, 6 distribution channels, over 90,000 direct selling agents, other Corporate Agents and Brokers and through its website. The company has over 13,000 employees and more than 17 lac active customers.
Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group.
ABCL's subsidiaries have a strong presence across Protecting, Investing and Financing solutions, ABCL is a universal financial solutions group catering to diverse needs of its customers across their life stages. Powered by more than 22,500 employees, the subsidiaries of ABCL have a nationwide reach with 850+ branches and more than 2,00,000 agents/channel partners and several bank partners.
As of March 31st, 2021, Aditya Birla Capital Limited manages aggregate assets under management over Rs 3350 billion, has a consolidated lending book of approx. Rs 606 billion, and an active customer base of over 24 million, through its subsidiaries and joint ventures.
Aditya Birla Capital Limited is a part of the Aditya Birla Group, in the league of Fortune 500. Anchored by an extraordinary force of over 140,000 employees, belonging to 100 nationalities, the Aditya Birla Group operates in 36 countries across the globe.
Sun Life Financial is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate clients. Sun Life Financial has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2021, Sun Life Financial had total assets under management of CAD 1,304 billion.
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. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
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