The maximum entry age for the ABSLI Nishchit Pension Plan is 65 years, while the minimum entry age is 30 years. The minimum annualised premium is Rs 20,000. The maximum vesting age is 75 years, whereas the minimum vesting age is 45 years.
New Delhi: Aditya Birla Sun Life Insurance Company Limited (ABSLI), the life insurance arm of Aditya Birla Capital Limited (ABCL), has announced the launch of the “ABSLI Nishchit Pension Plan,” a comprehensive retirement solution. The ABSLI Nishchit Pension Plan is a non-linked, non-participating individual pension plan that allows policyholders to plan for their retirement by accumulating a 100% guaranteed corpus, which may be used to assure an uninterrupted income throughout the golden years, as reported by Mintgenie.
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ABSLI Nishchit Pension Plan: Check Eligibility
The ABSLI Nishchit Pension Plan has a maximum entry age of 65 years, and a minimum entry age of 30 years. The minimum annualised premium is Rs 20,000. The maximum vesting age, that is the age at which the individual starts receiving the pension is 75 years, whereas the minimum vesting age is 45 years.
What Happens When Insured Dies During Tenure
If the insured dies during the tenure, the life insurance company will pay out the lump-sum death benefits to his/ her nominees or heirs. The product does not include any rider benefits, such as accidental death and disability or critical illness rider benefits. It provides premium payment terms of five, six, eight, ten, and twelve years, as well as regular payment alternatives. If you pick restricted pay terms, the insurance tenure will be the premium payment term plus five years, up to a maximum of 35 years. If you choose the standard salary option, your tenure will be 10 years, as reported in Moneycontrol.
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What Aditya Birla Sun Life Insurance Said
“As our country continues to witness robust growth, it’s only natural that the life expectancy will continue to improve, that’s where the role of pension plans become crucial. Our newest offering, ABSLI Nishchit Pension Plan entails an optimal blend of simplicity & flexibility. It nudges the policyholder to inculcate the habit of disciplined savings in their lifestyle and empowers them to make their retirement more financially secure. We believe in providing our customers with the tool and support to protect their financial needs and ABSLI Nishchit Pension Plan is a testament to our commitment.” Kamlesh Rao, MD & CEO of Aditya Birla Sun Life Insurance, commented on the launch of the ABSLI Nishchit Pension Plan when asked by Mintgenie.
Check Details About Aditya Birla Sun Life Insurance Limited
Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a subsidiary of Aditya Birla Capital Ltd (ABCL). It was founded on August 4th, 2000, and began operations on January 17th, 2001. ABSLI is a 51:49 joint venture between the Aditya Birla Group and Sun Life Financial Inc., a Canadian worldwide financial services organisation.
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ABSLI provides a variety of products across the customer’s life cycle, including children’s future plans, wealth protection plans, retirement and pension solutions, health plans, classic term plans, and Unit Linked Insurance Plans (“ULIPs”), as per the company’s official website.
