Aditya Birla Sun Life Insurance Launches ABSLI Assured FlexiSavings Plan in Indian Market

 Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), today announced the launch of its new plan ABSLI Assured FlexiSavings Plan. It offers fully guaranteed benefits and allows policyholders an instant access to their money by giving them the flexibility to make unlimited withdrawals from their policy. The flexibility to make unlimited withdrawals is hitherto unseen in the insurance market- making it a market differentiator for this product. Besides life cover, it aims to provide guaranteed benefits to provision for future goals while empowering customers with liquidity at hand, to fulfil short term goals or unplanned money needs.

ABSLI Assured FlexiSavings Plan is a fully guaranteed, non-linked non-participating life insurance plan. This plan provides annual Income to the policyholder which is accumulated for 10 years or 12 years till the end of the policy term. These annual incomes grow with a 5% Income Booster added every year to augment savings, provided it is not withdrawn. Additionally, the specialty of this plan is that it provides flexibility to withdraw the accrued amount as and when needed, with no restrictions or charges on withdrawals. Moreover, the plan returns 110% of total premiums paid, back to the policyholder during policy maturity. It also offers a one-time loyalty addition on the accumulated amount under the policy.

Commenting on the launch, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance said, “During unprecedented times, most people become risk averse, while enhancing their liquidity provisioning. This results in customers taking a conservative approach, which leaves them with limited options of saving and growing their hard-earned money. ABSLI’s Assured FlexiSavings Plan aims at locking in the benefit of long-term guaranteed returns while unlocking the flexibility of withdrawals or liquidity, as and when required. Guaranteed tax-free returns with liquidity along with life cover, will enable customers to continue achieving their financial milestones in a break-free and stress-free manner”.

ABSLI Assured FlexiSaving Plan provides four benefits-

1. Upto 105% of annual premium added every year (depending upon the premium payment term chosen by the policyholder)

2. 5% Income booster annually which enhances the accrued amount further

3. Upto 25% (depending on the premium payment term and policy term chosen by the policyholder) loyalty addition on the total accrued amount is added to the policy at the end of the policy term

4. 110% of total premiums paid is additionally paid as maturity benefit in addition to the accrued amount under the policy

ABSLI Assured FlexiSaving Plan is designed for customers who are looking for guaranteed wealth and ease of liquidity, while protecting their loved ones during the time of uncertainties. Besides offering guaranteed returns and an instant access to money, it also provides protection with a comprehensive life cover across the policy term, additional riders and a variety of Premium Payment Terms.

A Strategic Road Map for Conserving the Endangered Dhole Cuon Alpinus in India

India Needs a Strategic Management Plan for Conserving the Endangered Asiatic Wild Dog

A new study identifies priority actions and locations for conserving populations of the endangered Asiatic wild dog or dhole in India.

 

Country-level species conservation plans serve as a blueprint for identifying important areas, prioritizing management actions and channeling conservation funds. India is a biologically megadiverse country, yet many threatened and endangered species do not have science-based conservation plans. In a new study, scientists from Wildlife Conservation Society–India, University of Florida (USA), Wildlife Conservation Trust, and National Centre for Biological Sciences propose a detailed framework for conserving the endangered dhole in India using a combination of ecological, social, political and administrative information. 

The researchers first made a detailed assessment of the current status of dholes in each State. Based on the relationship between dhole occurrence, forest cover, protected areas, human populations and cattle densities, the authors then identify taluks or tehsils for targeting management interventions— areas where dhole populations need to be recovered, areas warranting improvement or expansion of forest habitats, and areas with potential for dholes to expand their distribution range. The study also evaluated State-wise conservation capacity using multiple criteria, like GDP share, poverty levels, State and central budgetary allocations for forest/wildlife sectors, and rejection rate of forest clearances.  

“Dholes play an important role as apex predators in forest ecosystems. Besides the tiger, dhole is the only large carnivore in India that is under IUCN’s ‘Endangered’ category. As a country that perhaps supports the highest number of dholes in the world, we still do not have targeted management plans for scientific monitoring of the species. Our study recognizes taluks and States that need to be prioritized, and thereby offers a primer for designing a country-level plan to conserve their populations”, said Arjun Srivathsa, lead author of the study.

The study reports that Karnataka, Maharashtra and Madhya Pradesh ranked very high on the priority scale, and are adequately equipped to maintain status quo, consolidate forest habitats, and recover dhole populations by increasing prey densities and reducing pressures on forests. On the other hand, Arunachal Pradesh, Chhattisgarh, Odisha, Telangana and Goa will need to increase financial investments towards forest/wildlife sectors, and also resolutely reduce the ease of granting forest clearances for infrastructure projects. Additionally, improving habitat conditions and prey densities in the Eastern Ghats of Andhra Pradesh, Telangana and Odisha would strengthen the link between dhole populations in Western Ghats and Central India. 

Despite their endangered status, there is a persistent lack of resources and policy focus on dhole conservation. “Alongside a comprehensive assessment of dholes in India, our study also provides an analysis of the current state of knowledge through a review of all published literature on the species. We identify critical gaps which can be explicated through improved funding for dhole research and conservation in India and across its distribution range”, said co-author Girish Punjabi.

The study titled “A strategic roadmap for conserving the endangered dhole Cuon alpinus in India” was published in the recent issue of the reputed international journal Mammal Review. The authors include Arjun Srivathsa (Wildlife Conservation Society–India and University of Florida, USA), Sushma Sharma (Wildlife Conservation Society–India), Priya Singh (National Centre for Biological Sciences), Girish Punjabi (Wildlife Conservation Trust), and Madan Oli (University of Florida, USA).

Article link: https://onlinelibrary.wiley.com/doi/epdf/10.1111/mam.12209 

VIL Offers a Unified Vodafone RED Experience to All Postpaid Customers Across Indian Telecom Circles

Vodafone Idea Limited, one of India’s leading telecom service providers, today announced the completion of its postpaid consolidation journey by bringing all Idea post-paid subscribers under a single umbrella of Vodafone RED. All Vodafone Idea postpaid customers can now avail benefits of the Vodafone RED plan, a uniform customer service, and an enhanced digital experience.

This consolidation is a major step towards its synergy realisations and has led to process standardization for both the retail and enterprise customers.

It will enable the company to provide a uniform customer experience through self-service channels with enriched menu options on IVR, USSD, MyVodafone App and Websites for availing products, services and making payments. Erstwhile Idea postpaid customers now do not need to go through a separate on-boarding and service experience. They can now avail Red Family subscription, a single bill for entire family, access to Vodafone Play, premium content and a bouquet of other value added services.

Announcing the completion of postpaid consolidation, Vishant Vora, Chief Technology Officer, Vodafone Idea said, “The consolidation of Vodafone and Idea postpaid customers is a major step towards our vision of one company, one network. One of the biggest and fastest migration in the telecom space, this has led to operational synergies and process standardisation for both our postpaid retail and enterprise customers. It enables us to provide enhanced customer experience to our postpaid users.”

With this consolidation, Call Centre Agents will be able to serve customers better using the CRM insights provided through 360 degree view on customer information, interactions and service profiles. Real time rating functionality will ensure accurate unbilled charging for customers at any given point of time. Customer will also be able to receive timely notification and alerts for any over usage. Moreover automated credit monitoring and dunning can trigger on time to ensure customer does not incur huge Bills thus avoiding Bill shocks.

Vodafone Idea has successfully integrated two strong networks in 92% of the districts, taking the integrated circles to 18. The deployment of new age technologies such as M-MIMO, DSR, Hybrid Cloud, OpenRan to enhance capacities and increased 4G coverage has resulted in richer customer experience.

During the pandemic the company has introduced several initiatives like recharges and payments via ATM/ USSD/ other digital platforms and launched AI powered customer service Bot on WhatsApp to keep its customers connected with their loves ones.

Aditya Birla Sun Life Insurance launches Child’s Future Assured Plan

Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), has launched a one-of-its-kind insurance plan called ABSLI Child’s Future Assured Plan. It aims at assured returns combined with protection, to financially secure a child’s future milestones. 

This child plan offers guaranteed returns and is a non-linked non-participating life insurance plan. ABSLI Child’s Future Assured Plan enables you to plan for child’s two significant milestones - education & marriage by providing the required cash flow to help you meet your goals for your child’s future. It has an in-built Waiver of Premium element that ensures that the policy continues in case anything unfortunate happens to the life insured. This plan offers the flexibility to choose periodic pay-outs of 3, 6 or 9 years to plan for child’s education and a lumpsum at the desired milestone, to plan for marriage. The customer can also avail the option to receive both, guaranteed regular income to plan for their child’s high school, graduation, and post-graduation expenses and guaranteed lump sum as corpus for marriage related expenses.

The plan can be tailor-made and customized basis an individual’s requirement by opting for solutions such as flexible benefit options, premium paying term, death benefit, and additional riders. It offers the choice to enhance risk cover up to 200% of Sum Assured. This plans also enhances the benefits by providing Loyalty Additions of 20% of each pay-out for policies, where all the premiums have been paid through the premium paying term (PPT).

Policyholder can avail assured pay-outs and high sum assured rebate with maximum guaranteed benefits, to plan for his/her child’s education, marriage, or both together by opting from any of the following options:

* Education Milestone: Option to receive guaranteed annual pay-outs for 3/6/9 years as per the need for child’s education preferably on child’s age from 15 to 21 years.

* Marriage Milestone: Option to receive a guaranteed lump sum on maturity for a child’s marriage fund preferably on child’s age from 24 to 32 years.

* Education and Marriage Milestones: Option to receive both guaranteed income and a lump sum for a child’s education & marriage.

Death Benefit: In the event of unfortunate death of Life insured, any premiums due thereafter will be waived off and nominee will continue to receive scheduled Assured pay-outs. The nominee can also avail the option to receive a lump sum of future Assured pay-outs at a discounted rate. 

Commenting on the launch, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance said, “Building and sustaining wealth corpus for child’s important milestones has always been the topmost priority for every parent. During such unprecedented times, protection for your child’s dreams and goals becomes a matter of utmost importance, hence the need for creating a tailored solution, which provides guaranteed returns for addressing your child’s future needs. We believe that ABSLI Child’s Future Assured Plan is a distinctive product with assured pay-outs, which will cater to suit financial ensure peace of mind”. 

Key Benefits

• Comprehensive planning for your child’s future: Plan for your child’s education, marriage or both life stage needs together under one product

• Guaranteed Benefits: All benefits are fully guaranteed 

• Enhanced value for loyal customer: Get 20% extra on each benefit as & when due as loyalty addition

• Flexibility to plan according to your desired milestone: Pick a PPT & Assured Benefit Payment Term  as per your desired milestone

• Enhanced risk coverage: Choice of enhancing risk cover up to 200% of Sum Assured to provide financial security to your loved ones in case of any exigency. Additionally, enhance coverage through riders.

• Policy Continuance Benefit: We shall pay the monies at your desired milestones and the policy shall continue as is even in  your absence

• High Sum Assured Rebate available

Plan at a glance

Entry Age                 Minimum: 18 Years

                                  Maximum: 65 Years (50 years if Enhanced insurance cover is chosen)

Age at Maturity          75 years

Minimum Premium     Rs. 30,000 p.a.

                                    Max No Limit

Aditya Birla Sun Life Insurance Launches Child’s Future Assured Plan

Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), has launched a one-of-its-kind insurance plan called ABSLI Child’s Future Assured Plan. It aims at assured returns combined with protection, to financially secure a child’s future milestones. 

This child plan offers guaranteed returns and is a non-linked non-participating life insurance plan. ABSLI Child’s Future Assured Plan enables you to plan for child’s two significant milestones - education & marriage by providing the required cash flow to help you meet your goals for your child’s future. It has an in-built Waiver of Premium element that ensures that the policy continues in case anything unfortunate happens to the life insured. This plan offers the flexibility to choose periodic pay-outs of 3, 6 or 9 years to plan for child’s education and a lumpsum at the desired milestone, to plan for marriage. The customer can also avail the option to receive both, guaranteed regular income to plan for their child’s high school, graduation, and post-graduation expenses and guaranteed lump sum as corpus for marriage related expenses.

The plan can be tailor-made and customized basis an individual’s requirement by opting for solutions such as flexible benefit options, premium paying term, death benefit, and additional riders. It offers the choice to enhance risk cover up to 200% of Sum Assured. This plans also enhances the benefits by providing Loyalty Additions of 20% of each pay-out for policies, where all the premiums have been paid through the premium paying term (PPT).

Policyholder can avail assured pay-outs and high sum assured rebate with maximum guaranteed benefits, to plan for his/her child’s education, marriage, or both together by opting from any of the following options:

* Education Milestone: Option to receive guaranteed annual pay-outs for 3/6/9 years as per the need for child’s education preferably on child’s age from 15 to 21 years.

* Marriage Milestone: Option to receive a guaranteed lump sum on maturity for a child’s marriage fund preferably on child’s age from 24 to 32 years.

* Education and Marriage Milestones: Option to receive both guaranteed income and a lump sum for a child’s education & marriage.

Death Benefit: In the event of unfortunate death of Life insured, any premiums due thereafter will be waived off and nominee will continue to receive scheduled Assured pay-outs. The nominee can also avail the option to receive a lump sum of future Assured pay-outs at a discounted rate. 

Commenting on the launch, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance said, “Building and sustaining wealth corpus for child’s important milestones has always been the topmost priority for every parent. During such unprecedented times, protection for your child’s dreams and goals becomes a matter of utmost importance, hence the need for creating a tailored solution, which provides guaranteed returns for addressing your child’s future needs. We believe that ABSLI Child’s Future Assured Plan is a distinctive product with assured pay-outs, which will cater to suit financial goals of parents and a defined corpus will ensure peace of mind."

Key Benefits

• Comprehensive planning for your child’s future: Plan for your child’s education, marriage or both life stage needs together under one product

• Guaranteed Benefits: All benefits are fully guaranteed 

• Enhanced value for loyal customer: Get 20% extra on each benefit as & when due as loyalty addition

• Flexibility to plan according to your desired milestone: Pick a PPT & Assured Benefit Payment Term  as per your desired milestone

• Enhanced risk coverage: Choice of enhancing risk cover up to 200% of Sum Assured to provide financial security to your loved ones in case of any exigency. Additionally, enhance coverage through riders.

• Policy Continuance Benefit: We shall pay the monies at your desired milestones and the policy shall continue as is even in  your absence

• High Sum Assured Rebate available

About Aditya Birla Sun Life Insurance, an Aditya Birla Capital Company 

Aditya Birla Sun Life Insurance Company Limited (ABSLI), is a life insurance subsidiary of Aditya Birla Capital Ltd (ABCL). ABSLI was incorporated on August 4th, 2000 and commenced operations on January 17th, 2001. ABSLI is a 51:49 a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a leading international financial services organization in Canada.

Formerly known as Birla Sun Life Insurance Company Limited, ABSLI is one of India’s leading life insurance companies offering a range of products across the customer’s life cycle, including children future plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans and Unit Linked Insurance Plans (“ULIPs”).

As of March 2020, total AUM of ABSLI Stood at Rs. 411,261 million. ABSLI recorded a gross premium income of Rs. 80,100 million in FY 2019-20 and registering a y-o-y growth of 7% in Gross Premium with Individual Business FYP at Rs 18,036 Mn. ABSLI is currently ranked 7th in Individual Business (Individual FYP adjusted for 10% single premium) (Source: IRDAI reported Financials). ABSLI has a nation-wide distribution presence through 397 branches, 8 bancassurance partners, 6 distribution channels, over 82,000 direct selling agents, other Corporate Agents and Brokers and through its website. The company has over 13,000 employees and more than 17 lac active customers.

One in four US companies plan salary freeze

About a quarter of businesses in America have frozen workers' salaries for 2009 in the wake of a pessimistic economic outlook, according to a new survey.

Outsourcing and consulting firm Mercer in a survey released Monday said 25 percent of organizations surveyed said they have already decided not to raise their employees' pay, and another 20 percent are considering a salary freeze this year.

A year ago, just 5 percent of companies planned to suspend raises for their staff. Mercer predicted that one in three companies will have frozen wages at 2008 levels by the end of 2009.

"It's not an easy message to communicate to employees, but we think managers will be aided by the unprecedented context of these difficult decisions - including low inflation and high unemployment," said Steve Gross of Mercer.

Those companies that plan on offering raises to their employees will give smaller-than-expected pay increases, Mercer said. The average expected salary bump at those businesses was just 3.2 percent, down from a planned 3.6 percent according to an October study.

The news comes as many employers are opting to slash jobs rather than reduce or freeze pay. Announced layoffs so far this year have already topped 300,000, and the Labour Department reported Friday that employers slashed 598,000 jobs in January - the single highest monthly job-loss total since December 1974.

Mercer also reported that executives are far less likely to get a salary increase than other employees in 2009. According to the survey, just 61 percent of companies are planning to raise their executives' pay, and 77 percent of respondents plan to decrease the level of executive compensation from their October projections.

Only 69 percent of employers plan to raise salaries for employees in managerial positions.

"Given lacklustre corporate performance and recent pressure from regulators, shareholders and the president (Barack Obama), it's not surprising to see that over the past few months, more than one-third of participants who reported executive salary data went from a 2009 planned base-salary increase for their executives to a freeze," said Gross.

Agencies

Citi posts $8.29 bn loss, splits up company

Citigroup Inc unveiled a broad restructuring plan designed to shed weaker businesses and troubled assets, and also reported an $8.29billion fourth-quarter loss, its fifth straight quarterly loss.

The company also said on Friday that it anticipated more departures from its board, which is losing Robert Rubin as a director later this year. Nevertheless, Citigroup shares rose 8.6 percent to $4.16 in premarket trading.

Citigroup's fourth-quarter loss equaled $8.29 billion, or $1.72 per share, and compared with a year-earlier loss of $9.8 billion, or $1.99 a share.

"I think people knew it was going to be bad, but I'm surprised it's this bad," said Matt McCormick, portfolio manager at Bahl & Gaynor Investment Counsel in Cincinnati.

The bank said it was splitting into two operating units, one of which will focus on universal banking, the other on brokerage and retail asset management, local consumer finance, and a pool of assets that require special management.

Revenue fell 13 percent to $5.6 billion, reflecting weak capital markets. The company's global credit card business saw revenue decline 27 percent on weakness in North America.

Consumer Banking revenues declined 22 percent, driven by a 47 percent drop in investment sales. And its institutional clients group, securities and banking revenues were negative $10.6 billion, mainly due to net losses and write-downs of $7.8 billion.

"Our results continued to be depressed by an unprecedented dislocation in capital markets and a weak economy," Chief Executive Vikram Pandit said.

Agencies