ABSLI Fixed Maturity Plan is a non-linked, non-participating endowment product. In which fully guaranteed returns will be available in the form of lump sum amount on maturity.
ABSLI Fixed Maturity Plan: Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), has launched a new age savings plan. ABSOLUTELY Fixed Maturity Plan (UIN 109N135V01) has been launched. It is a non-linked, non-participating endowment product with fully guaranteed returns on maturity in the form of lump sum amount. This plan is designed to provide short and long term financial security to the policyholders with higher returns than Fixed Deposits.
Will get more returns than FD
ABSLI Fixed Maturity Plan offers better returns of up to 6.41 per cent with life cover. This interest rate is higher than the fixed deposit rates offered by most of the major banks in the country. Under this plan, ABSLI helps its policyholders to provide financial guarantee without any hassle. The plan is a single pay proposal (premium payment term) like a fixed deposit and allows policyholders to choose the policy term (5-10 years) as per their requirement. Also, starting from 100%, the surrender benefit will increase by 1% every year, thereby ensuring that the policyholders do not lose their money in case they surrender the policy. Through its new offering, ABSLI has endeavored to cater to the needs of investors who prefer a product with guaranteed returns like Fixed Deposit.
Signature Global IPO: Real estate company to bring Rs 1,000 crore IPO, papers filed with SEBI
Features of ABSLI Fixed Maturity Plan
- Guaranteed Maturity: Customers will get fully guaranteed benefits irrespective of market volatility.
- Financial Security: In case of death of the Life Assured, customers will get Comprehensive Risk Cover.
- Flexibility: Customers will get the option of Policy Term (5-10 years) and Sum Assured Multiples.
- Policy Loan: The minimum policy loan will be Rs 5,000. and a maximum of 80% of the applicable Surrender Value for Plan Option A and 65% of the Applicable Surrender Value for Plan Option B, deducting any outstanding policy loan balance as on the date of availing the loan.
- Tax benefits – Tax benefits will be available as per applicable tax laws at the time of payment of premium or receipt of benefits.
The maximum entry age to avail the plan is 60 years (Option A) and 50 years (Option B), while the minimum age is 8 years. Also, the minimum annualized premium is Rs 12,000 and the minimum sum assured is Rs 15000.
The company lifted the curtain from the 2022 Hyundai Tucson, will get many great features, check details
Features of ABSLI Fixed Maturity Plan
- Simplified Design – One-time Single Pay (Single Premium Payment Term) with policy term of minimum 5 years and maximum tenure of 10 years
- Fully liquidity at no cost No penalty on premature surrender of policy.
- Increased returns from FD – up to 6.41%
- Guaranteed Maturity Benefit – Non-linked, non-participating endowment product providing fully guaranteed benefits
- Multiple Sum Assured options – 1.25X to 1.77X or 10X to 10.42X
www.financialexpress.com