ACESO launches ALIP to secure life cover benefits for LIC policyholders
New Delhi: ACESO, a pioneer institution in providing innovative solutions for insurance policyholders, has launched ALIP (Assignment of Life Insurance Policies), a unique solution designed for LIC policyholders contemplating policy surrender or experiencing lapses. ALIP provides the opportunity to receive the Surrender Value of their endowment insurance policies, even while preserving their life cover benefits.
Powered by ACESO ENDOWMENT SERVICES PVT LTD, ALIP offers key features designed to provide maximum value and benefit to LIC policyholders:
(1) Guarantees that policyholders receive the exact surrender value as given by the LIC of India.
(2) Additionally, ALIP goes beyond mere surrender value consideration, providing policyholders with a clear outline of the year-wise life coverage benefits from the date of assignment up-to the Maturity Date, for their nominees; in the unfortunate event of the policyholder’s demise, even while abstaining on any further future premium commitments. All this is provided by an independent SPV Trust, managed by a SEBI registered trusteeship company.
A Win-Win for all stakeholders:
(1) By leveraging ACESO’s services, policyholders can restructure their financial circumstances or release equity, thereby gaining greater financial flexibility and security.
(2) ALIP provides a continuity of income to the Insurance advisors on the premium continued to be paid by the SPV trust (Managed by a SEBI registered independent Trustee), on such assigned polices to LIC of India till maturity.”
(3) ALIP reduces surrender payouts to policyholders and increases the insurer’s AUM, leading to higher bonus rates and increased earnings for all its stakeholders. This innovative approach also minimizes insurer costs associated with replacing surrendered or lapsed policies, contributing to a more sustainable and efficient insurance ecosystem for its stakeholders.