Aditya Birla Sun Life Insurance launches ABSLI Fixed Maturity Plan

Mumbai, July 19, 2022: Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), announces the launch of a new-age savings solution ABSLI Fixed Maturity Plan (UIN 109N135V01), a non-linked, non-participating endowment product providing fully guaranteed benefits as a lump-sum on maturity. This plan is designed to offer policyholders short & long-term financial security by integrating FD beating returns and protection.

ABSLI Fixed Maturity Plan provides industry best returns of up to 6.41% along with a life cover. These interest rates are higher than the Fixed Deposit rates offered by most major banks in the country.
Through its new simplified savings solution, ABSLI helps its policyholders get a hassle-free financial guarantee to fulfil their dreams.
 
The plan is a single pay proposition (premium payment term) like a fixed deposit and allows the policyholder to choose from a wide range of policy terms (5-10 years) to fit individual needs. Also, starting at 100%, the surrender benefit will increase by 1% every year, ensuring policyholders do not lose their money in case they have to surrender the policy. Through its new offering, ASBLI intends to cater to investors who prefer simplified product like fixed deposits.
 
Commenting on the launch of ABSLI Fixed Maturity Plan, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said, “In this era of uncertainties, we continuously look forward to helping our policyholders with solutions providing them with necessary financial assurance and covering them suitably in the advent of any eventuality. The ABSLI Fixed Maturity Plan gives the required cushion of financial guarantee for all their dreams with industry best returns, allowing them to plan their investments accordingly. It also provides them with a comprehensive life cover which safeguards their family in case of an eventuality. Along with FD beating returns the plan enables the policyholders to benefit from all the conventional features of a life insurance savings plan.”
 
ABSLI Fixed Maturity Plan offers the benefit of choosing from a range of varied sum assured. The policyholders can either avail of Option A (1.25X to 1.77X sum assured) or Option B (10X to 10.42X sum assured). The returns will depend on the choice of sum assured; thus, Option A will attract higher returns as compared to Option B.
 
Key features of ABSLI Fixed Maturity includes:
•    Guaranteed Maturity: Customers to get fully guaranteed benefits irrespective of market conditions. 
•    Financial Security: Customers to get comprehensive risk cover in case of death of the life insured.
•    Flexibility:  Customers to get a choice of Policy Terms (5-10 years) and sum assured multiples.
•    Policy Loan: The minimum policy loan can be Rs. 5,000 and the maximum of 80% for Plan Option A & 65% for Plan Option B of the applicable Surrender Value less any outstanding policy loan balance as on that date
•    Tax Benefits: Tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits
The maximum entry age to avail of the plan is 60 years (Option A) and 50 years (Option B), while the minimum age is 8 years. Furthermore, the minimum annualized premium is Rs. 12,000 and minimum sum assured is Rs.15000.