Assured FlexiSavings Plan was launched recently by Aditya Birla Sun Life Insurance (ABSLI), which offers fully assured benefits and allows policy holders immediate access to their money by providing them with unrestricted revoked funds.
This policy allows for unrestricted withdrawals, making this product a distinguishing feature. The policy offers fixed incentives, in addition to life coverage, for potential purposes while allowing policyholders to retain their liquidity, meet their short-term objectives or unexpected money needs.
A secured, unlinked non-participating life insurance plan is an assured FlexiSavings Plan by Aditya Birla. The program gives the policy holder annual income that is collected for 10 years or 12 years before maturity. If the annual revenue is not reduced, the annual revenue adjustment will be applied to raise savings by a 5% booster. The remarkable advantage of this scheme is also that it allows the amount accrued to be withdrawn when required without any limitation or withholding fee.
The company shall reimburse the policyholder for 110% of the total premiums paid. This also gives the accrued balance under the program a one-time reward bonus.
“In unprecedented times, the majority of people become risk-averse as their liquidity provision rises,” said Kamlesh Rao, MD, and CEO of Aditya Birla Sun Life Assurance. This leads to a savings strategy that offers consumers minimal opportunities to save and grow hard-earned money. The Assured FlexiSavings Program aims to ensure long-term assured returns while allowing withdrawal of liquidity flexibility, if and when required.
Enabling consumers to meet their financial goals in a break-free and stress-free way would ensure guaranteed tax-free returns along with life cover.
The Guaranteed FlexiSaving Plan provides up to 105 percent (depending on the premium payment period chosen by the policyholder) of the annual premium, plus an annual rise of 5 percent to boost the added sum.
This product also provides up to 25 percent of the amount accrued to the policy at the end of the policy period, and 110 percent of the amount payable is additionally charged as maturity advantage as well as the amount accumulated under the policy, subjects which are related on the premium payment terms and the policy term of the policyholder.
According to the company, the program is intended for customers seeking assured wealth and liquidity while protecting their loved ones during uncertainties.
It also provides a full policy life coverage, additional riders, and a range of premium payment period services, as well as providing assured returns and direct access to funds.