Hello everyone, have you ever read about the “Aditya Birla Group“? If so, you are probably already aware of the Life Insurance plan offered by this company’s subsidiary, “Sun Life Insurance.” Sun Life Insurance has introduced a program called the “ABSLI Akshaya Plan” for its customers on September 22, 2022. In this article, we will learn everything there is to know about this plan. So let’s go into the specifics of this new scheme.
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What is ABSLI Akshaya Scheme 2022?
Aditya Birla Sun Life Insurance Company Limited is the full name of ABSLI. It just introduced a “Akshaya Plan” for its clients. This plan includes a cash incentive and provides comprehensive family life insurance up to 100 years.
You must pay a fee to participate in this scheme, but you will receive all of its benefits. Let’s examine the benefits that the ‘Akshaya Plan‘ offers.
Benefits of the “Akshaya Plan” Scheme 2022
If you choose ABSLI’s Akshaya Plan program, you will benefit from the following:
Bonus
The advantage of receiving a cash incentive at the conclusion of the first year of the Akshaya Plan insurance is available to policyholders, but they are required to prove a reliable source of income.
Additionally, the policyholder has the option of receiving Cash Bonus on an Annual, Semi-Annual, Quarterly, or Monthly basis (if declared). It is due at the conclusion of each monthly, quarterly, semi-annual, and annual basis.
Death Benefits
If you choose to participate in this plan, you won’t need to worry about your family when you pass away since you’ll receive a sizable payout following the death of the nominee who is the covered person.
Maturity Advantages
If the insured individual is still living when the insurance plan reaches its maturity period, this Akshaya Plan will provide you with additional benefits that will make you really happy.
Policy Loan
If you have purchased one of Akshaya’s plans, you may also apply for a loan, but you must first get the surrender value of your plan. You can borrow from this up to 80% of the acquired surrender value of your policy plan, with a minimum borrowing amount of ₹5,000.
Tax Advantages
As is widely known to everybody, if we get insurance, we receive a reduction when we pay our income taxes. Similar to this, you may save additional tax if you enroll in the premium Akshaya Plan.
Eligibility requirements
Before purchasing this plan, if you wish to participate in the Akshaya Plan program, you must meet specific qualifying requirements.
Plan Type
Before deciding on a strategy, you should be aware of its type. The individual-only Akshaya scheme is a non-linked saving life insurance plan.
Coverage
The Akshaya Plan scheme is open to everyone, therefore Men, Women, and Transgender people can all enroll in it.
Benefit Criteria
You may take Akshaya Plan scheme for two terms –
- Long Term Plan
- Whole Life Plan
But you have to understand that if you have take any one of them then you cannot change your plan in future.
Premium Payment Term (PPT)
Akshaya scheme can take by the individuals for these years –
- 6 Years
- 8 Years
- 10 Years
- 12 Years
- 15 Years
Age Criteria
If you want to take the benefits of Akshaya scheme then your age must be –
- Minimum – 30 Years
- Maximum – 55 Years
Plan Maturity Age
Your Akshaya Scheme will mature in following years –
- Long Term Plan – 84 Years
- Whole Life Plan – 85 – 100 Years
Premium Amount for Akshaya Plan Scheme
If you want to take Akshaya Scheme then you have to spend these amount in scheme –
- Minimum – ₹2000 Per Month [yearly – ₹24,000]
- Maximum – No limit
Conclusion
So, this is everything about the Akshaya Scheme, and I hope you understand its benefits and qualifying conditions. I believe you now have no doubts regarding the Akshaya Scheme.
In this post, I have provided information on the Akshaya plan, and if you want to learn more about it, please visit this website – ABSLI Akshaya Scheme.
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