Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., an international financial services company from Canada. Aditya Birla Sun Life Insurance has contributed to the growth and development of the life insurance industry. Their customer base comprises of over two million policy holders. The Company offers a complete range of plans comprising protection solutions, children's future solutions, wealth with protection solutions, health and wellness solutions, retirement solutions and savings with protection solutions. Its distribution network is in over 500 cities, 560 branches, around 85,000 empanelled advisors and over 140 partnerships with corporate agents, brokers and banks.
+Tax benefit is subject to changes in tax laws.
++All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
It’s been a decade that has contributed significantly to the growth and development of the life insurance industry of our country. They have also pioneered in the launch of Unit Linked Life Insurance plans. Their vision is to be a leader and role model in integrated financial services. They value Integrity, commitment, Passion, Seamlessness and Speed.
Aditya Birla Sun Life Insurance Company Limited offers a wide variety of insurance plans to the customers. The life insurance plan cater to all the basic needs and necessities of the customers at a very competitive rate of interest. They take care of all the basic necessities of the customers by insuring them against all sorts of risks through a wide variety of plans to choose from. The different types of insurance plans offered by Birla Sun Life Insurance Company Limitedare as follows:
Life Term Solutions
Savings with Protection
Children’s Future Solution
Pension Solution Plan
Ulip Solution Plans
Rural
NRI
Birla Sun Life Plan | Plan Type | Entry Age | Maximum Maturity Age | Policy Term | Minimum Sum Assured |
ABSLI Protector Plus Plan | Traditional Term Insurance | 18 years - 65 years | 70 years | 5 years - 30 years | Rs. 30,00,000/- |
ABSLI Protect@Ease | Online term plan | 18 years - 55 years | 80 years | 5 years - 30 years | Rs. 50,00,000/- |
ABSLI Secure Plus Plan | Traditional Non-participating Life Insurance Plan | 5 years - 50 years | 63 years | 13 years | Rs. 7,25, 000/- |
ABSLI Vision Money Back Plus Plan | Traditional Participating Money Back Life Insurance Plan | 13 years - 45 years | _ | 20, 24 , 25 years | Rs.1,00,000/- |
ABSLI Vision Endowment Plan | Participating endowment Plan | 1 years - 55 years | _ | 20 years | Rs.1,00,000/- |
ABSLI Vision Star Plan | Traditional Participating Child plan | 18 years - 55 years | 75 years | 14/16 years - 21/23 years | Rs.1,00,000/- |
ABSLI Empower Pension Plan | Unit Linked Pension Plan | 25 years - 70 years | 80 years | 5 years - 30 years | Depends on Fund Value |
ABSLI Immediate Annuity Plan | Immediate Annuity Plan | 30 years - 90n years | N/A | N/A | Rs. 12,000/- per year |
ABSLI Wealth Assure Plan | Unit Linked Life Insurance Plan | 8 years - 65 years | 75 years | 10, 15, 20, 25, 30 years | Fund value or at least 105% of the total Premium paid |
ABSLI Wealth Aspire Plan | Unit Linked Insurance Plan | 30 days - 60 years | 18 years - 70 years | 10 years - 40 years | Rs. 3,00,000/- |
As we all know and somehow we have accepted the fact that life is filled with uncertainties and hence the protection of our family tops our priority list. Hence we always try to ensure that even during our absence our family enjoys the same lifestyle and leads a comfortable life. So Aditya Birla Sun Life Insurance brings those plans that are simple yet economic and help us achieving our objectives irrespective of what the shortcomings are. They have assured that the premiums are very reasonable and helps fit in the budget easily. The different kind of Protection Solutions Plans are as follows:
ABSLI Protector Plan Plus -This is a plan that promises to take care of the family keeping in of the growing needs and in turn makes provision for a good lifestyle. The features of the plan is enlisted below:
Complete financial protection at low costs
Entry age - 18years - 65years
Minimum Sum Assured amount - 30,000/-
Death Benefit Available - 10 times the annualized premium + Sum assured at the date of death
Tax Benefits - this plan offers tax benefits under Section 80C and Section 10(10D) of Income Tax Act,1961
Total & Permanent Disability Benefit -In case there is any kind of disability during the plan term then 50% of the Sum Assured is paid and death benefit remains unaffected.
ABSLI Future Guard Plan- This plan provides complete financial freedom even when you're not around. This plan is ideal if you want an economic way of providing for cover and would like to protect your family you also get back all your premiums back on maturity. So you can enjoy life knowing that your family's future is secured and guaranteed even in your absence and your premiums are yours on your survival. The features of the plan is enlisted below:
Entry age - 18years - 65years
Minimum Sum Assured amount -5,00,000/-
Death Benefit Available - 10 times the annualized premium + Sum assured at the date of death
Tax Benefits - this plan offers tax benefits under Section 80C,80D and Section 10(10D) of Income Tax Act,1961
ABSLI Easy Protect Plan - Aditya Birla Sun Life Insurance presents this traditional term insurance plan which gives you the option for flexible cover and it also includes increasing and constant term assurance. It secures you and your family financially at an affordable cost. As our responsibilities only keep increasing with time, it protects your family against extra liability. The features of the plan is enlisted below:
Entry age - 18years - 55years
Complete financial solution and that too at affordable costs
Two plans options to your requirement.
Minimum Sum Assured amount -50,00,000/-
Death Benefit Available - In case of demise of the insured the sum assured applicable shall be paid to the nominee.
Tax Benefits - this plan offers tax benefits under Income Tax Act,1961
Surrender Benefit - the policy will acquire a surrender value immediately after the issuance of the policy.
ABSLI Protect @ Ease - The happiness and security of our family is always your priority. We always want to ensure that your loved ones never have to compromise on their dreams aspirations.We understand that in this fast paced world, you are always looking for convenience while considering a term plan. Keeping all this in mind, this plan brings you a hassle-free way of getting the advantage of term life insurance for the security of your family. In addition to this unmatched convenience, you can also choose your sum assured, the duration of the policy and more. Our flexible plan is tailored to give you the cover you need, ensuring that your family gets the future they deserve.
ABSLI DigiShield Plan - It is a non-participating and non-linked term insurance policy. The policyholder can customize this plan according to the requirements of all the stages of life at a very reasonable cost. The key features of this plan are:
The plan offers full financial protection at a very reasonable price.
The plan provides the option to enhance the coverage of the policy at different key milestones of the policy's life.
The plan provides two options for a plan to suit the protection requirements of the policyholder.
Gives the option to cover the spouse of the policyholder under the same plan.
Offers the inbuilt benefit of a terminal illness.
The plan offers flexible terms of premium payment.
Multiple options to get death benefits in order to meet the requirements of the nominee of the policyholder.
The policyholder can enhance his/her insurance with appropriate options of rider.
ABSLI Ultimate Plan - To protect the family of the policyholder against various uncertainties of future, and to make sure that the dreams of the family members are secured when the insured is not around, this non-participating and non-linked term insurance plan are introduced by Aditya Birla Sun Life Insurance Company. Some of the key features of this plan are:
The plan provides inbuilt terminal illness cover.
The policyholder gets the option to enhance his/her cover at different key milestones of one’s life.
Offers long term insurance protection cover for approximately 50 years.
Provides flexible premium payment term.
To meet the changing needs, the policyholder can select death benefits through multiple options.
The policyholder can enhance the coverage of his/her insurance with some appropriate rider.
ABSLI Income Shield Plan - It is a non-participating and non-linked term insurance policy that is designed for the salaried based entrepreneurs and professionals. The main focus of this plan is to provide financial support to the family of the policyholder in case of unfortunate events like the death of the policyholder. The plan makes sure to provide the monthly income needed by the family members for leading the same lifestyle. The key benefits of this policy are:
The plan offers complete financial protection at a very reasonable price.
Offers EVA benefit, which is exclusively for female customers.
Provides four plan options to meet the protection requirements of the policyholder.
Flexible income benefit and premium payment terms.
A policyholder can enhance the inclusions by selecting some appropriate riders.
ABSLI Life Shield Plan - Each person is different and so does the need for his/her family, therefore, one policy may not be able to match the requirements of all. This plan offers the flexibility to make a combination of eight different policy options as per the requirements of the family. The key benefits of this plan are:
Provides option to enhance the coverage at different key stages of your life.
Offers multiple options to suit different requirements of the policyholder.
Provides option to cover the spouse of the insured in the same policy.
Offers inbuilt terminal illness cover.
Premium return option.
Provides option to enhance the coverage with appropriate option of rider.
Offers multiple options to get death benefits.
Life is full of uncertainties and we never know what life has planned for you. This is where ABSLI Savings with Protection solutions come to your aid. By helping you make small savings in a disciplined manner, we can create a corpus for fulfill your family's wishes in the future. Since the amount is small, you can continue enjoying your current lifestyle without compromises. What's more, your family will get the added security of a Life Cover & tax free returns. The different kinds of Plans are enlisted below:
ABSLI Vision MoneyBack Plus Plan - This plan gives you the advantage of money back policy. It’s a traditional plan which also meets your financial requirement and life cover to meet any unexpected danger. Some of its features are listed below:
Entry age - 13years - 45years
Minimum Sum Assured amount -1,00,000/-
Guaranteed Survival Benefit- A survival benefit is given at every 4th or 5th year of the plan as percentage of sum assured. The regular payouts are given as long as life insured survives and these are predefined percentages on sum assured.
Death Benefit Available -the nominee receives Sum assured + accrued bonus +terminal bonus.
Maturity Benefit is given with Accrued bonus + Terminal Bonus, and posts these payments the plan is permanently terminated.
Tax Benefits - this plan offers tax benefits under Section 80C, and Section 10(10D) of Income Tax Act, 1961.
ABSLI Vision Life Income Plan - Despite the uncertainty in our lives we always try to plan for all of life’s important responsibilities and stages, hence to fulfill these efforts and dreams we need a regular source of extra income. It is then this plan comes into the picture. It is a traditional whole life plan which not only helps us to fulfill all the responsibilities but also realizing the dreams by providing a steady extra income. In this plan survival benefits are payable every year the end of the premium paying term till maturity and a life insurance benefit, this plan offers a perfect blend of income and financial protection for you and your family. Some of its features are listed below:
Entry age - 1year - 60years
Minimum Sum Assured amount -2,00,000/-
Access to rider at nominal extra cost.
Comprehensive financial protection the family with whole life covers up till age 100.
5% of the sum assured + bonus every year after premium paying term
Death Benefit Available - the nominee receives Sum assured + accrued bonus +terminal bonus.
Maturity Benefit is given with Sum Assured + Terminal Bonus, and posts these payments the plan is permanently terminated.
Tax Benefits - this plan offers tax benefits under Section 80C, 80Dand Section 10(10D) of Income Tax Act, 1961.
ABSLI Vision Endowment Plan -This plan assures you that your savings are absolutely safe and moreover it starts giving you growth in your savings with accrued bonus from the first year itself. Some of its features are listed below:
Entry age - 1year - 55years
Minimum Sum Assured amount -1,00,000/-
Death Benefit Available - the nominee receives Sum assured + accrued bonus +terminal bonus. In case the death is due to accident then an sum assured is paid up as additional benefit.
Maturity Benefit is given with Sum Assured + Accrued Bonus+ Terminal Bonus, and posts these payments the plan is permanently terminated.
Tax Benefits - this plan offers tax benefits as per extant laws
ABSLI Savings Plan - This plan not only allows you to regularly save money and also helps it grow over the time. This plan allows you to have mental satisfaction and peace to meet your future financial requirements. Some of its features are listed below:
Entry age - 18years - 50years
Minimum Sum Assured amount -30,000/-
Access to rider at nominal extra cost.
Comprehensive financial protection the family with whole life covers up till age 100.
5% of the sum assured + bonus every year after premium paying term
Death Benefit Available - the nominee receives Sum assured + accrued bonus + guaranteed additional bonus+terminal bonus.
Maturity Benefit is given with Sum Assured + Terminal Bonus + guaranteed additional bonus.
ABSLI Vision Life Secure Plan - We must inculcate this habit of saving very early in our lives because in the long run not only good amount of wealth is accumulated but also tax benefit is available from a lot of them. Some of its features are listed below:
Entry age - 1year - 60years
Minimum Sum Assured amount -2,00,000/-
Access to rider at nominal extra cost.
Comprehensive financial protection the family with whole life covers up till age 100.
5% of the sum assured + bonus every year after premium paying term
Death Benefit Available - the nominee receives Sum assured + accrued bonus +terminal bonus.
Maturity Benefit is given with Sum Assured + Terminal Bonus + Accrued Bonus.
Tax Benefits - this plan offers tax benefits under Section 80C, and Section 10(10D) of Income Tax Act, 1961.
ABSLI Income Assured Plan - This plan is of a traditional nature providing savings and protection. It gives assured income benefits payable from the end of the premium paying period and life insurance benefits. This plan comes with monthly income and financial security. Some of its features are listed below:
Entry age - 8years - 60years
Minimum Sum Assured amount -1,00,000/-
Guaranteed Additions - these addition will added to the policy at the beginning of each quarter after the completion of the premium payment term until policy date maturity.
Death Benefit Available - the nominee receives Sum assured + guaranteed additions accumulated till death.
Maturity Benefit is given with Sum Assured + guaranteed additions accumulated
Tax Benefits - this plan offers tax benefits under Section 80C, and Section 10(10D) of Income Tax Act, 1961.
ABSLI Vision Regular Returns Plan - ABSLI Vision Regular Returns Plan is a traditional participating endowment plan. With survival benefits payable every year from 5th policy anniversary till maturity and life insurance benefit, this plan offers a perfect combination of liquidity, savings and financial protection of your family. Some of its features are listed below:
Entry age - 13years - 45years
Minimum Sum Assured amount -2,00,000/-
Survival Benefit - this benefit is distributed from 5th year and every subsequent policy anniversary till maturity you receive a guaranteed survival benefit.
Death Benefit Available - the nominee receives Sum assured +Accrued Bonus till date
Maturity Benefit is given with Accrued Bonus less non- guaranteed survival benefits already paid.
Tax Benefits - this plan offers tax benefits under Section 80C, and Section 10(10D) of Income Tax Act, 1961.
ABSLI Vision Endowment Plus Plan - All our lives are filled with uncertainty so if there is any policy which assures you that not only is the money safe but your returns will be higher than your investment. With the return of premium along with accrued bonuses on maturity and protecting your family's financial security.So by investing in ABSLI Vision Endowment Plus Plan, your investment can go a long way in building a safe and financially sound future for your family, today as well as in the years to come. Some of its features are listed below:
Entry age - 30 days - 60years
Minimum Sum Assured amount -1,00,000/-
Tax Benefits - this plan offers tax benefits under Section 80C, and Section 10(10D) of Income Tax Act, 1961.
ABSLI Guaranteed Future Plan - A unique plan designed to help you meet your responsibilities for certain major milestones of your life such as children education, marriage, exotic family holidays etc. Some of its features are listed below:
Entry age - 18years - 50years
Sum Assured amount -10 * Annual Premium
Flexibility to choose - premium paid every year, policy term, death benefit option.
Tax Benefits - this plan offers tax benefits under Section 80C, and Section 10(10D) of Income Tax Act, 1961.
ABSLI Guaranteed Milestone Plan - It is a non-participating and non-linked life insurance plan that understands the financial requirements of the family of the policyholder. The key benefits of this plan are:
Guaranteed death and maturity benefits.
Provides flexibility to select the term of the policy.
Offers guaranteed additions that boost the corpus every year.
By selecting a joint life protection option, one can cover his/her spouse as well in the same policy.
The plan offers flexibility to enhance the insurance coverage with the help of an appropriate rider.
ABSLI - Jeevan Bachat Plan - It is a small savings non-participating and non-linked plan that helps the policyholder to create a large corpus. The plan offers life cover and guaranteed returns ten times of the premium with tax benefits. The key benefits of this plan are:
The plan offers guaranteed death benefit if the policyholder dies during the term of the policy.
Apart from the death benefit, the policy also offers maturity benefits.
The policy also provides reduced paid-up advantages.
The policy provides guaranteed additions that accrue monthly basis.
ABSLI Monthly Income Plan - This is a participating non-linked life insurance policy that offers monthly income to its policyholders. The key benefits of this policy are:
The plan provides assured monthly income for taking care of the recurring requirements of the policyholder.
Provides lump sum bonus on the maturity of the policy.
Offers financial protection for the entire family.
Provides inbuilt accidental death advantages.
The option of increasing or level income of 10, 15, and 20 years.
The plan offers a deferment period of zero, five and ten years after the policy completes the premium payment term.
The plan offers tax benefits.
A child is a source of joy for every parent. You work towards ensuring that you have the means to meet the big future expenses of your child, be it for higher education, marriage or any other dreams that you have for your child. This Birla life child insurance plan is designed to meet future requirement of your child by allowing us to meet the major expenses. They also offer you the choice of guaranteed returns or the flexibility to manage your fund options to make your money grow as per your needs.
ABSLI Vision Star Plan - As the child grows up and looks for success in this fast paced world, he will always look to you for support and inspiration. Hence you will need a plan that gives your child the confidence to pursue and discover his/her real passion. Presenting, ABSLI Vision Star Plan, so that you can ensure that your child doesn't miss out on opportunities due to insufficient funds. Some of its features are listed below:
Entry age - 18years - 55years
Sum Assured amount -1,00,000/-
Regular Bonus - Simple Bonus is declared at the end of each financial year and it will be added to your policy.
Maturity Benefit - Accrued Bonus till date + Terminal Bonus
One can take loan in this plan once it has acquired its surrender value. Minimum loan amount is 5,000/- and maximum is 85% of your surrender value.
At retirement, income stops but the expenses don’t. It is therefore important to start saving early and in a planned manner for a comfortable and in a disciplined manner for a stress-free retired life. What is also important is to determine your goal for the retirement corpus basis your projected needs during retired life.
Aditya Birla Sun Life Insurance Retirement Solutions ensure that you enjoy a secure and happy retired life.
ABSLI Empower Pension Plans - This is a plan designed to ensure that one remains in control of the non-earning phase of one’s life. It is basically a unit linked, non-participating pension plan an helps you focus on your goals enhance your savings. Some of its key features are as follows:
Entry age - 25years - 70years
Death Benefit - Guaranteed Death Benefit/Fund value as on date of intimation or accumulation of all basic premiums paid or accumulation of all basic premiums paid till date at a compounding guaranteed rate.
Tax Benefits - this plan offers tax benefits under Section 80CC, and Section 10(10D) of Income Tax Act, 1961.
ABSLI Immediate Annuity Plan - Aditya Birla Sun Life Insurance Immediate Annuity Plan enables you to convert your savings or lump sum amounts into an instantly guaranteed lifetime income source after retirement, which you can avail anytime you choose to.
ABSLI Empower Pension - SP Plan - In this policy, investment risk in investment portfolio is borne by the policyholder.Linked Insurance Products do not offer any liquidity during the first five years of the contract. ABSLI Empower Pension - SP Plan - this plan will help you gain financial freedom during your second innings. Helps you focus on your goals and enhances your savings for a future free from worries.
If you buy this premium then your dreams are secure, these plans offer you flexible plans and encourage you to save regularly.
ABSLI Wealth Max Plan - Single pay unit linked plan it allows you to choose where to invest in 13 different funds.
ABSLI Wealth Secure Plan - its life insurance plan and ensures to meet your family’s dream with Whole Life Cover.
ABSLI Wealth Assure Plan - it’s a protection and savings plan enabling your wealth to grow steadily.
ABSLI Fortune Elite Plan - this plan allows you to decide your premium amount under 3 different plans.
ABSLI Wealth Aspire Plan -in this policy the insurer is rewarded for policy continuance in the form of additional units will be added to your policy
A large population of India lives in the rural areas. The impact of risks associated with life and health are far more severe on this population as compared to the urban population with higher levels of income.
Birla Sun Life launched its rural program in 2001 to provide insurance to the rural populace of India. This includes the endowment product that provides life cover and guarantees returns to the insured on maturity.
ABSLI BimaDhanSanchay - provides the security of life insurance and guarantees return of premiums paid on maturity.
ABSLI Bima Suraksha Super - Simple and hassle free plan providing security to family’s future
ABSLI BimaKavachYojana - it’s a 3 year plan with death,maturity and surrender benefits.
ABSLI Grameen Jeevan Raksha Plan - plan designed to cater to needs of rural population and a term insurance.
NRI solutions can help you ensure that your dreams and aspirations are not compromised even while you stay away from your family. They help you plan all your goals like planning for your child's education, planning for your retirement, building a house, caring for your parents back home.
ABSLI Vision Life Income Plan - ABSLI Vision LifeIncome Plan, a traditional participating whole life plan that helps you to not only plan your financial goals but also realize your dreams by providing you with a steady income and whole life cover.
Year | 2008-09 | 2009-10 | 2010-11 | 2011-12 | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 |
Claims ratio | 89.12 | 89.09 | 94.66 | 90.94 | 82.55 | 87.76 | 95.3 | 88.45 | 94.69 | 97.22 |
Year | 2008-09 | 2009-10 | 2010-11 | 2011-12 | 2012-13 | 2013-14 | 2014-15 | 2015-16 |
Market share | 3.2 | 2.7 | 1.6 | 1.7 | 1.7 | 1.4 | 1.7 | 1.6 |
1. Update the information related to fund on the Aditya Birla Sun Life Insurance website by using the TIPN/CIP.
2. Submit a switch funds form singed by the insured.
3. Contact the insurance company so that they process the switch request of the insured.
1. Update the information related to fund on the Aditya Birla Sun Life Insurance website by using the TIPN/CIP.
2. Submit a redirection singed by the insured.
3. Contact the insurance company so that they process the redirection request of the insured.
• Thoroughly filled cancellation form/payout
• Photo ID proof
• Original documents of the policy (except in case of withdrawal)
• Address Proof
• Bank statement/passbook
• Cancellation cheque
Aditya Birla Nuvo Limited declared the successful accomplishment of financial stake increase of Sun Life in ABNL’s insurance JV. The financial stake of Aditya Birla Sun Life Insurance Company, by the means of this transaction, became 49% from 26%.
As stated by the company in a release, Aditya Birla Nuvo Limited will now be holding 51% controlling stake of the insurance JV. ABNL received a payment of Rs. 1,664 Crore from Birla Sun Life in exchange of an additional stake of 23%. The transaction has valued Birla Sun Life at a total of Rs. 7,235 Crore.
Nearly a total of 437 million shares, which makes 23% of the paid up and issued equity share capital of Birla Sun Life, were sold to Sun Life Financial by Aditya Birla Nuvo Limited. ABNL stated that the funds generated by the stake sale will lead to a substantial decrease in the debt of the company. Also, as per the company release, the free cash flow generated by the transaction will help ABNL strengthen its growth plans.
Birla Sun Life is currently catering to a minimum of 16 lakh policyholders.
"We are trying to do things differently for financial services. We realized that the trust in buying these products was going down. We started believing there has to be some core reason for this and then began looking at newer methods to deal with it," said Pankaj Razdan, CEO, Aditya Birla Sun Life Insurance. Razdan explained the thought behind this concept, which is: to build trust in the consumer population, it is necessary to understand them and their needs.
Revenue growth will be flat. He also said that after watching the budgets very attentively investment spending will significantly give results. The year 2016 will also witness structural reforms that did not happen in the previous year although administrative reforms were significant. The company has its own USP. It provides attractive valuations for the investors and imparts proper corporate governance focus.
Aditya Birla Sun Life Insurance outperforming the other players diverting its funds to some promising energy sectors for better returns. Both the company and the investors will be profited for the venture.
Canada's Sun Life's stake in ABSLI will rise from 26% to 49% due to this acquisition. "CCI approves acquisition of additional 23% equity of Aditya Birla Sun Life Insurance by Sun Life Financial (India) Insurance Investments," said CCI on Monday. Also, this sale of 23% stake will fetch Aditya Birla Nuvo about Rs 1,664 crore.
When the old man’s wife tells the boss that the doctors have told him not to work, he supports his PA and offers the same job to his son. On this, the PA reveals that this would not be required, as his son has already left for the UK to do his masters. The boss happily congratulates the young man and his assistant proudly says that his son would not have to fix appointments, instead give them.
As they all rejoice with laughter, a voice over says, that you cannot control the unavoidable, but the unavoidable would not be able to control you either. Protect your loved ones and your dreams.
Aditya Birla Sun Life Insurance has been selling Life insurance products for the last 15 years now. But the Company’s popularity was limited to the customers from Urban India. With this new business tie-up, it is expected that Aditya Birla Sun Life Insurance will have a more widespread reach among various socio-economic sectors in India. Since Peerless has touchpoints over urban, suburban, and rural areas of India, Birla Sun Life Insurance products will be available to all these touchpoints from now on.
Birla Sun Life offers need-based life insurance solutions to its customers. This tie-up will further value add to their customer relationship.
The Resurgent India Fund-Series 3 is an equity-linked scheme with a term of 3.5 years from (and including) the allotment date.
The subscription for the new fund offer (NFO) began from February 23, 2017. With the unit price of the scheme at Rs. 10 per unit, the subscription window will close on March 9, 2017.
The fund scheme intends to produce capital appreciation by promoting investments in equity-related securities and equity securities that are to be expected to reap benefits from renewal in the economy of India.
According to the company release, 80-100 per cent of assets will be allotted in equity securities and equity-related securities under this scheme. However, the remaining 0-20 per cent will be allocated in the debt instruments and money market.
Being a part of the investment strategy, the Resurgent India Fund-Series 3 also intends to earn profits at apt moments to enjoy the benefits of the instability in the market. Under the scheme, a tiny portion of the corpus can be invested in fixed income securities that include money market instruments so that the liquidity requirements can be managed.
The scheme will consist of a direct plan and regular plan with separate NAVs and a common portfolio. Under the scheme, each of the direct and regular plans will have dividend option with payout, growth option and sweep facility.
The statistics is way below that was anticipated, if we talk about the overall female population of India. Out of the overall customer portfolio of Aditya Birla Sun Life Insurance (ABSLI), only 23 percent is comprised by the women.
The MD and CEO of Aditya Birla Sun Life Insurance, Mr. Pankaj Razdan quoted, “The risks in a women’s life are not given heed that is even more than a man’s life at times.”
As per the report, only 26 percent of the females began in investing in insurance early, i.e. at the age of 20s-30s. The trend has not seen any changes since the inception of various products of life insurance.
According to the survey report, women who fall in the middle-income bar are more inclined towards buying life insurance products. Despite the fact that female of the middle-income group prefer investing in savings linked products, other females have a preference for investing their crumbs in wealth related products. However, wealth related products are mostly prevalent in the lower-income group.
This Chatbot intends to cater a superior customer experience and lets the customers correspond in a natural way, get instant quotes of their premium and resolve their issues and facilitate their basic needs on the go.
Pankaj Razdan, MD and CEO of Aditya Birla Sun Life Insurance (ABSLI) said, “At ABSLI, we make attempt to constantly cater our customers with better solutions by making use of latest technology for picture perfect experience and effective engagement , as they reach out to achieve their financial objectives with us.”
He further added, “The Chatbot will assist our customers to obtain any information allied to their policies, get their premium quotes and facilitate personalised and quick experience to their queries related to life insurance.”
As per Razdan’s, with this chat process, customers will be able to ask their queries from any part of the country and get a quick and instantaneous response, through live chat. Subsequently, the simple jargon-free language of the bot will resolve queries associated with customer’s policies, cater recommendations and customise the right product that focuses on the specific needs of the customers.
Now the ABSLI customers will be able to put in their queries and the Chatbot will sort out your query real time. The bot will resolve queries on particular policies and will teach the customer on queries related to life insurance. Besides prompting awareness, it will also help in instant generation of a quote, registration of a claim, and can engage in a conversation with a customer in a natural way.