MUMBAI: Aditya Birla Sun Life Insurance Company Limited (“ABSLI”), the life insurance subsidiary of Aditya Birla Capital, India’s leading diversified financial services company, today announced the launch of ABSLI Anmol Akshaya, a savings-oriented participating life insurance plan designed to help customers achieve future goals while safeguarding their families against life’s uncertainties.

 Exclusive offerings of the Plan:

1. My Child: Policyholders can choose milestone-based income pay-outs aligned to key stages of a child’s educational journey, from undergraduate studies and professional courses to post-graduation and career beginnings.

2. My Savings: Designed for customers looking to create a medium to long-term corpus for future goals such as daughter’s marriage, buying a house, retirement planning, etc., while also ensuring life insurance protection for their families.

3. HER Benefits: For women, the plan offers attractive savings for future goals and exclusive HER Benefits built into the plan. The proposition includes complimentary Health Management Services, providing access to medical consultations, health coaching, second medical opinions, and personal medical care management to support proactive health management.

ABSLI Anmol Akshaya offers customers added flexibility through optional protection enhancements such as the Extended Life Cover (ELC) option that enables customers to continue their life insurance cover beyond Maturity up to the age of 75 or 85. Additionally, the Policy Continuance Benefit (PCB) helps safeguard long-term financial goals of the family by offering an immediate death benefit, under specified conditions, on the death of the Life assured. Besides, this benefit also provides a waiver of future premiums upon the death of the Life Insured, while policy benefits continue till maturity.

Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance Company Limited, said, “Financial planning today is increasingly centered around life goals rather than standalone products. From securing a child’s future, family’s future goal, and a savings corpus to address the evolving financial and wellness needs of women, customers seek solutions that support them through different stages of life. With ABSLI Anmol Akshaya, we have created a proposition that combines savings and protection, along with meaningful benefits, helping customers pursue their aspirations with greater confidence and financial resilience.”

As a part of the HER benefits offering of ABSLI Anmol Akshaya plan, it also features a Motherhood Benefit, under which eligible women can receive an accelerated payout equivalent to one annualized premium upon childbirth after a certain policy duration. Further, the Cancer Care Benefit provides an accelerated payout of 25% of the Guaranteed Maturity Benefit upon diagnosis of a covered woman-specific cancer.

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MUMBAI: Udyog Plus, a B2B platform from Aditya Birla Finance Limited (“ABFL”), the lending subsidiary of Aditya Birla Capital Limited (“ABCL”), is capitalizing on its growth trend. Within nine months of its launch, the platform has attracted over 8 lakh users, highlighting its strong acceptance in the MSME sector.  ABFL has played a major role in facilitating access to finance in two minutes for MSMEs.

Udyog Plus has facilitated loan disbursements exceeding ₹500 crore, with the Aditya Birla Group (ABG) ecosystem contributing about two-thirds of this amount. The platform manages an AUM of around ₹250 crore, serving various lending needs, including unsecured business loans, merchant loans, supply chain finance, and working capital solutions. Additionally, many customers use Udyog Plus to access insurance solutions along with loans.

ABFL is expanding Udyog Plus within the ABG ecosystem and reaching a broader MSME audience. The platform has partnered with major ecosystems such as e-commerce and digital platforms, business management platforms, and Digital Public Infrastructure like OCEN and ONDC. These partnerships enhance the platform’s offerings and reach.

Udyog Plus also provides value-added services such as business networking, digital commerce, and applications for accounting and payroll, helping MSMEs streamline their operations. The platform, including its mobile app, offers a complete digital journey from underwriting to collections, ensuring a seamless financing experience.

As Udyog Plus continues to expand, ABFL remains committed to delivering sustainable returns and enhancing its capacity to serve MSMEs. This growth aligns with the increasing credit disbursement trend to micro, small, and medium-sized enterprises.

Recently, it has been observed that the MSME sector in India is experiencing a credit boom, with credit to micro and small enterprises growing by 18.6% to ₹19.64 lakh crore in April 2024 compared to the previous year. Similarly, credit to medium-sized organizations also jumped by 16.5% during the same period.

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