Pune: Birla Sun Life Insurance (BSLI), the life insurance arm of the Aditya Birla Financial Services Group (ABFSG), a significant non-bank financial services company, has announced the launch of BSLI SecurePlus Plan, a non-participating traditional insurance plan that provides customers a guaranteed second income (during the payment period) which is twice the annual premium paid along with a life cover.
Speaking on the launch, Pankaj Razdan, MD & CEO, Birla Sun Life Insurance said, “At Birla Sun Life Insurance, our brand ethos is to help our customers self-realize and partner them co-create solutions that can help them achieve their financial objectives and secure their and their families well-being with us”.
He further added “On this journey and promise of building a relationship of ‘Trust’ with our customers, our offering in the form of BSLI SecurePlus Plan is aimed at giving them a simple product offering that combines the best of both worlds, security of life cover on one hand and the guaranteed income, twice the premium paid on the other. This product helps customers multiply their money and earn 2x income on their premiums which can be used by the customer to meet several life goals. We hope that this offering will be able to touch the lives of our customers as they realize their protection needs with us.”
BSLI SecurePlus Plan offers life cover for the policyholder during the policy term. At the end of the policy term, this plan gives two Income benefits options. In option A the customer will receive increasing Income of 1x to 6x in 6 years . For example a customer who has paid Rs. 1 lac per annum for 12 years will receive Rs. 1 lac in 14th year followed by 2 lacs, 3 lacs, 4 lacs, 5 lacs and 6 lacs in 15th, 16th, 17th, 18th and 19th year respectively. In Option B the customer shall receive double the premiums paid for 12 years. For instance customer who has paid Rs. 1 lac per annum for 12 years shall receive Rs. 2 lacs every year for 12 years starting from the 14th
year. The return in both these cases is totally tax free. In the event of premature death during the Payment Period, the Income Benefit Pay-outs as scheduled are provided to the nominee . The plan thus ensures that your family’s finances are protected even in your absence. The policy also offers life cover with sum assured ranging from 14.5 to 19 times the premium paid during the policy term. The policy has a built in accidental death benefit which ensures that the nominee receives double the sum assured.
BSLI SecurePlus Plan is best suited for individuals who are looking at life insurance as option to meet their dual needs to security and guaranteed income. This plan can help customers who are looking at securing their families financial well-being, looking at building a fund for themselves or their children’s education and ensuring additional post-retirement income for themselves or their parents. This plan will be available for customers in all metros and tier I, tier II and tier II cities.
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