Aditya Birla Sun Life Insurance Company (ABSLI) has launched 'ABSLI Salaried Term Plan" - This tailored and comprehensive protection solution is specifically designed for salaried professionals. The plan, categorised as non-linked, non-participating, life individual, pure risk, and a premium plan, allows salaried professionals to customize this plans based on their protection needs. This plan provides policyholders with a variety of inclusive life cover options tailored to meet their diverse needs. In addition to the standard i) Life Cover option, policyholders have the flexibility to opt for ii) Life Cover with a Return of Premium (ROP), under this option, policyholders can receive a refund of the total premiums paid upon survival (excluding GST, loadings, and other charges), or iii) Fixed Income Cover option, where the beneficiary will receive monthly income equal to 1.25% of the sum assured on the insuredÆs death for either 10, 15 or 20 years. Or the fourth one iv) Increasing Income Cover option, allows the insured to increase the income cover, where the income increases annually based on the chosen escalation rate - 5% or 10% per annum. Under this policy, the age at entry fixed from the range of minimum 21 years and maximum 55 years. The maximum maturity age is 70 Years. The policy can have a maximum term of up to 49 years, and it provides you the option to choose the premium payment terms ûsuch as limited Pay (5, 7, 10, 12, 15, and 20 Years) or regular pay. Additionally, for enhanced protection, policyholders have the flexibility to choose from various rider options, such as the Accidental Death Benefit Rider Plus/ABSLI Accidental Death and Disability Rider, Critical Illness Rider, Hospital Care Rider, and Waiver of Premium Rider. Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said, "By introducing the ABSLI Salaried Term Plan, we acknowledge the specific financial hurdles that salaried individuals encounter to meet their protection needs. This unique term plan reflects our commitment to delivering customized protection solutions to our customers and becoming a reliable partner in safeguarding the aspirations and financial future of salaried professionals in India."
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