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As a working woman, your monthly income plays an important role in supporting your family. While you work hard to provide for them, it's essential to plan for the unexpected. If something unfortunate happened to you, would your family be financially secure? This is where term insurance comes into play.
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The Aditya Birla Sun Life Insurance (ABSLI) Income Suraksha Plan ensures that your loved ones receive a steady income in your absence, helping them maintain their lifestyle and financial stability. Let’s understand this plan and how it benefits salaried women in this article.
Term Plans
India is a country where the economic parity stands at a mere 39.8% (according to Global Gender Gap Index). Therefore, it becomes even more important for salaried women to secure the future of their loved ones financially. Term insurance, hence, provides a comforting solution, giving them peace of mind so they can focus on their lives while knowing their loved ones are secure.
Term insurance offers significant benefits for salaried women by providing essential financial security for their families in the event of an unexpected loss. Here are some benefits of term insurance for women:
Term insurance plans, with affordable premiums, ensure that loved ones receive a guaranteed payout, helping them maintain their lifestyle and cover ongoing expenses.
The flexibility to customize coverage amount and policy term allows women to customize their term insurance policies to their unique financial goals.
Women get enjoy upto 20% lower premiums with term insurance plans. Platforms like Policybazaar promote term insurance for women plans so that more females can understand its benefits and buy term plan at very affordable rates.
Women can also enjoy tax benefits with their life insurance plan under applicable sections of the ITA 1961.
The Aditya Birla Sun Life Insurance (ABSLI) Income Suraksha Plan is a term insurance policy specifically designed for salaried individuals. It guarantees that your family will receive a monthly income if something unfortunate happens to you during the policy term. This support helps them manage their finances without added stress.
You can choose between two options:
Fixed Income Protection: This option provides a consistent monthly payout.
Increasing Income Protection: This option increases the monthly amount by 5% each year to help keep up with rising inflation.
The ABSLI Income Suraksha Plan is a great term insurance plan for women because it ensures a steady monthly income for their families while offering a special 13% discount. This discount includes a 9% discount for the first year and an additional 4% discount for buying the plan online.
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Here’s how the Income Suraksha Plan offered by Aditya Birla Sun Life Insurance works for women:
Monthly Income Protection: If a woman suddenly passes away during the policy term, her family will receive a steady monthly income. She can select either the Fixed or Increasing Income Protection option based on her specific needs.
Flexible Coverage Options: A woman can customize their Aditya Birla term insurance plan to suit her family's financial situation and rising inflation.
Sum Assured on Death: The woman’s beneficiaries will receive the highest of these amounts:
11 times the annual premium
105% of total premiums paid
120 times the monthly income
The guaranteed death benefit amount
Commutation Benefit: Nominees can receive a lump sum payment instead of monthly income, giving them flexibility in managing the funds. This lump sum is calculated using a discounted value of the remaining monthly payments, offering flexibility in utilising the benefit.
Tax Benefits and Discounts: This plan may offer term insurance tax benefits under the Income Tax Act 1961. Plus, there are one-time discounts available—up to 11% for male and transgender customers and 13% for female customers, including a special online discount.
The ABSLI Income Suraksha Plan is exclusively available to buy on Policybazaar’s platform.
Here are the steps for women to buy the Aditya Birla Sun Life Insurance Income Suraksha Plan from Policybazaar:
Step 1: Visit Policybazaar’s official website and click “Term Insurance.”
Step 2: Submit your details, such as your name, contact details, gender, and DoB.
Step 3: Submit information regarding your job type, yearly income, educational qualifications, and smoking/tobacco consumption habits.
Step 4: Choose Aditya Birla Sun Life Insurance Income Suraksha Plan from the available list of term insurance plans.
Step 5: Pay using your preferred mode to complete the process.
Salaried women buying term insurance plan like the ABSLI Income Suraksha Plan is a smart choice since it secures their family’s future. By securing a reliable income for their loved ones, women can battle against life's uncertainties with confidence. Protect your family’s future today with term insurance, and experience the peace of mind that comes from knowing they will be secured, no matter what challenges may arise.
Note: You should also check the term insurance benefits if you are planning to purchase the term insurance plan.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
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