Secure Your Family's Future: Explore ABSLI’s Innovative Income Suraksha Plan! - Read Now

The standout feature of this plan is its ability to offer monthly income payments that compound annually. This means that not only does the policyholder receive regular financial support, but the amount can also increase, protecting families against inflation.

By Aayushi Dubey Sep 23, 2024, 18:53 IST

Aditya Birla Sun Life Insurance (ABSLI) has introduced a revolutionary term insurance product called Income Suraksha, designed to redefine financial protection for families. Unlike traditional policies that offer a lump sum payout, Income Suraksha provides monthly income disbursements that can grow over time, giving policyholders a unique safety net.

The standout feature of this plan is its ability to offer monthly income payments that compound annually. This means that not only does the policyholder receive regular financial support, but the amount can also increase, protecting families against inflation. With options to customize coverage, clients can choose from two plans: the standard Income Suraksha or the Increasing Income Protection Option for enhanced payouts.

For instance, if a 35-year-old male chooses a monthly income of ₹1 lakh for a 30-year policy term, the annual premium would be approximately ₹20,760. The plan includes discounts for salaried individuals and female policyholders, making it an attractive option.

The payout structure is also compelling. If a policyholder faces an unfortunate event in the first year, they could receive up to ₹3.5 crore over time. Conversely, if the event occurs at the end of the policy term, beneficiaries would still receive significant support, totaling around ₹1.2 crore.

The Income Suraksha plan is ideal for those supporting aging parents or family members who may struggle with a large lump sum. By focusing on monthly income, ABSLI aims to provide peace of mind during critical financial periods, ensuring families have a steady cash flow when they need it most.