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Aditya Birla Sun Life Insurance launches ABSLI Assured Savings Plan
~ A personalized life insurance savings plan for new-age savings solutions~
Mumbai, November 16, 2021: Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), announces the launch of its new-age savings solution, ABSLI Assured Savings Plan.A non-participating savings product, this plan will provide fully guaranteed lumpsum benefits on policy maturity and will offer consumers long-term financial security, by integrating savings and protection in a single plan.
Keeping in mind the financial needs of the new-age customer, ABSLI Assured Savings Plan provides guaranteed monetary cushion to protect policyholder’s important life milestones such as child’s education, retirement planning, legacy planning etc. especially in face of unpredictable circumstances and economic uncertainty.
ABSLI Assured Savings Plan, offers the flexibility to tailor one’s diverse savings and protection needs across life phases. This hyper-personalised savings plan provides fully guaranteed benefits on death or maturity, along with the convenience of customizing the plan benefits as per the customer’s desired milestones. The plan offers varied choices such as, joint life protection, multiple premium payment term options, flexible policy term and rider options, to help design a unique resolution for the policyholders and their family members.
In addition to the guaranteed lumpsum benefit, policyholders will be eligible to receive accrued loyalty benefits, on maturity of the policy, which will further boost the total pay-out. Policyholders will also be able to enhance their financial safety net by adding multiple protection-oriented riders such as critical illness rider, accidental death rider etc.
Commenting on the launch of ABSLI Assured Savings Plan, Mr. Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said, “The experience of living through the pandemic and an uncertain economic environment has made individuals more aware and financially cautious.
Today’s customer needs adequate life insurance and would like to be covered for specific risks. At ABSLI, we understand this requirement and aim to offer solutions which are simple, innovative, and differentiated, catering to customer’s emerging needs. With ABSLI Assured Savings Plan, we want to provide a cushion of double protection to our policyholders and their loved ones from financial crisis, in case of an unfortunate event, and help accumulate lumpsum saving benefits to achieve all their dreams. ABSLI’s Assured Savings Plan provides the right mix of protection and savings benefit for a hassle-free, non-compromised future.”
Key features of ABSLI Assured Savings Plan includes:
· Guaranteed Benefit: Fully guaranteed benefits to cater to your life’s milestones worry-free.
· Loyalty Additions: Loyalty Additions are added to your policy to boost your maturity corpus, provided all due premiums have been paid.
· Flexibility: Choice of various Premium Payment Terms, Policy Terms, and Sum Assured Multiples to suit your requirements.
· Financial Security for your loved ones: Get comprehensive risk cover in case of death of the life insured.
· Joint Life Protection Option: Cover your Spouse in the same policy through the Joint Life Protection option.
· Enhance your Protection: Avail additional risk cover through Riders.
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About Us:
About Aditya Birla Sun Life Insurance, an Aditya Birla Capital Company
Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a part 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., an international financial services organization in Canada.
ABSLI offers 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 September 2021, total AUM of ABSLI Stood at Rs.5,71,182 million. ABSLI recorded a gross premium income of Rs. 49,214 million in H1 FY 2021-22 and registering a y-o-y growth of 24% in Gross Premium with Individual Business FYP at Rs 9,810 Mn. ABSLI has a nation-wide distribution presence through 340+ branches, 7 bancassurance partners, 6 distribution channels, over 70,000 direct selling agents, other Corporate Agents and Brokers and through its website. The company has over 13,000 employees and more than 18 lac active customers.
About Aditya Birla Capital
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 27,000 employees, the subsidiaries of ABCL have a nationwide reach with 935+ branches and more than 2,00,000 agents / channel partners and several bank partners.
As of September 30th, 2021, Aditya Birla Capital Limited manages aggregate assets under management over Rs. 3,703 billion, has a consolidated lending book of approx. Rs. 591 billion, and an active customer base of over 28 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. Today, over 50% of Group revenues flow from overseas operations that span 36 countries in North and South America, Africa and Asia.
About Sun Life Financial Inc, Canada
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 Sep 30, 2021, Sun Life Financial had total assets under management of CAD 1,386 billion. For more information please visit www.sunlife.com. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.