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17 Feb 2023 11:58 AM GMT
Summary
simple and affordable term insurance plan addressing short-term protection needs
Kochi: Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), has announced the launch of a simple and affordable protection solution – ABSLI Anmol Suraksha Kawach.
It is a non-linked, non-participating individual, life, pure risk premium, term insurance solution for policyholders’ short-term protection needs offering a life cover for up to 5 years.
People aged between 25-55 years can purchase ABSLI Anmol Suraksha Kawach and can stay covered for a maximum duration of up to 5 years. This plan provides flexibility in choosing premium payment terms and policy terms and sum assured, enabling the policyholders to customise their term plans.
Key Features of Anmol Suraksha
Short term protection: Policyholders will be eligible to avail a short-term policy term between 2 to 5 years.
Choice of premium payment term: Policyholders to get flexibility to choose between making a onetime payment or paying for the entire policy term
Varied Sum Assured Option: Policyholders can choose from varied sum assured options (From 50L to 2cr in steps of 25 Lakhs)
Protection till 60 years of age: Policyholders will be eligible for a maximum cover ceasing age of 60 years
Commenting on the launch of ABSLI Anmol Suraksha Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, said, “ABSLI has been a leader in developing modern, comprehensive life insurance policies that anticipate customerneeds and help them create a stable financial future.
Our latest offering will empower the policyholders by providing short-term protection at affordable prices so they can get the much-required life cover and live a worry-free fulfilling life. Its simplistic and affordable proposition, will position us to achieve deeper penetration and advance IRDAI's vision of a fully insured India.
As of December 31st 2022, total AUM of ABSLI Stood at Rs.67,989 crore (15% Increase YOY). ABSLI recorded a gross premium income of Rs. 3740.10 crore in Q3 FY23 and Gross Premium growth of 19% with Individual Business at Rs.1824 crore.