Aditya Birla Sun Life Insurance Company Limited (ABSLI) has launched the ABSLI Super Term Plan, a comprehensive pure protection term insurance plan that provides goal-linked financial protection and built-in health management services. The plan is designed to support the overall well-being of policyholders and offers flexibility in coverage options. Policyholders can choose from three tailored coverage options: Level Cover, Increasing Cover, and Level Cover with Return of Premium.
The Level Cover option provides a fixed sum assured throughout the policy term, payable as a lump sum, monthly income, or a combination of both upon the death of the life insured. The Increasing Cover option enhances the sum assured by 5% per annum, offering increasing protection over time. The Level Cover with Return of Premium option ensures a fixed death benefit and returns 100% of total premiums paid if the life insured survives till maturity.
In addition to providing robust life protection, the plan offers built-in health management services that can be accessed throughout the policy term. This enables policyholders to actively monitor and maintain their health while securing their family’s financial future. The plan also offers an Enhanced Life Stage Protection option, which allows policyholders to increase their sum assured upon the occurrence of specific life events, such as marriage, childbirth, or home loan.
The ABSLI Super Term Plan provides several benefits, including an Instant Payment on Claim Intimation facility, which pays a specified amount within one working day of claim registration. The plan also offers enhanced flexibility in the disbursement of death benefits, with policyholders able to choose from three pay-out options: a lump sum, equal monthly income, or a combination of both. The Staggered Death Benefit option enables nominees to receive the benefit in monthly instalments over a five-year period, and the Commutation of Income Benefit option allows nominees to convert monthly income pay-outs into a lump sum amount at any time during the income benefit period.
According to Mr. Kamlesh Rao, MD & CEO of ABSLI, the plan is designed to empower individuals and families with comprehensive financial security and peace of mind. The ABSLI Super Term Plan is a thoughtfully designed plan that offers flexible coverage, built-in health management services, and protection against life’s uncertainties, including critical illness and disability. Overall, the plan provides a comprehensive solution for individuals and families looking for a reliable and flexible term insurance plan.