Benefits of Aditya Birla Sun Life Term Plans

Here are the benefits of buying Aditya Birla Sun Life Term Plans:

• Affordable Premiums: Aditya Birla Sun Life Term Plan offers cost-effective coverage for a specific period, making premiums lower than lifelong policies.

• Financial Security: Aditya Birla Sun Life Term Plan ensures your loved ones receive a death benefit, easing their financial burden upon your unfortunate demise.

• Flexibility: Customize coverage and tenure to match your budget and specific needs.

• Tax Benefits: Enjoy tax benefits on premiums under Section 80C, and tax-free death benefits under Section 10(10D) with this term insurance.

• Peace of Mind: Aditya Birla Sun Life Term Plan provides assurance that your loved ones will be financially protected in unforeseen circumstances.

• Comprehensive Financial Protection: Ensures your family is supported financially, covering everyday expenses, loans, and future goals in case of an untimely demise.

• High Coverage at Lower Costs: Provides substantial life cover at premiums that are affordable compared to traditional life insurance plans.

• Protection Against Uncertainties: Safeguards your loved ones from financial stress arising due to unexpected life events.

• Long-Term Security: Helps in planning for major life events like children’s education or home loans, giving a financial safety net when it’s needed the most.

• Riders for Additional Coverage: Option to add riders like critical illness or accidental death benefit to enhance protection.

Features of Aditya Birla Sun Life Term Plans

Here is a list of all the Aditya Birla Sun Life Term Plans:

• Flexible Payout Options: Offers the choice of receiving the death benefit as a lump sum, monthly instalments, or a combination of both, depending on family needs.

• Customizable Policy Term: Choose the policy tenure according to your financial planning horizon or retirement age.

• Quick Claim Settlement: Streamlined claim process with high claim settlement efficiency for faster support to your nominee.

• Online Policy Management: Facility to buy, renew, or manage the term plan digitally, making it convenient and hassle-free.

What are the Various Aditya Birla Sun Life Term Plans?

Here is a list of all the Aditya Birla Sun Life Term Plans:

ABSLI Super Term Plan

This is a term insurance plan designed especially for salaried individuals, offering high protection at affordable premiums along with added benefits. It provides financial security for your family and rewards you with a return of premium at the end of the policy term.

• Get instant claim payout

• Receive 100% return of premium on policy maturity

• Enjoy a 10% discount on the first-year premium for salaried individuals and female lives

• Access health management services worth ₹46,000

Entry Age: 18 years

Maturity Age: 85 years

ABSLI Income Suraksha Plan

A flexible term plan that ensures a worry-free life by offering protection and income stability for your family’s future. It allows you to choose from plan options and premium payment terms as per your needs while providing long-term coverage.

• Choose between 2 plan options

• Get life cover up to 70 years of age

• Flexibility to opt for limited or regular premium payment term

• Benefit from an increasing income protection option

Entry Age: 18 years

Maturity Age: 70 years

ABSLI Salaried Term Plan

An exclusive and comprehensive protection plan specially designed for salaried individuals. It offers flexibility to choose between lump sum and monthly income cover options, ensuring your family’s financial needs are met, whether it’s education, lifestyle, or daily expenses, even in your absence.

• Choose from 4 plan options to match your protection needs

• Life cover available up to 75 years of age

• Inbuilt terminal illness benefit for added protection

• Accelerated critical illness benefit covering 42 listed illnesses

Entry Age: 18 years

Maturity Age: 75 years

ABSLI DigiShield Term Plan

A versatile term insurance plan designed to provide all-round financial security for you and your loved ones. With 10 plan options, flexible payout modes, and coverage up to 100 years, this plan ensures complete protection across every life stage.

• Choose from 10 unique plan options based on your needs

• Coverage available till 100 years of age

• Monthly income benefit option for a worry-free retired life

• Survival benefit after 60 years for continued financial independence

Entry Age: 18 years

Maturity Age: 85 years

ABSLI Poorna Suraksha Kawach

A complete and comprehensive protection solution that safeguards your family’s financial future against life’s uncertainties. With multiple plan options and built-in benefits, this plan ensures long-term security and peace of mind.

• Multiple plan options to suit different financial needs

• Inbuilt terminal illness benefit for immediate support

• Accelerated critical illness benefit covering 42 critical illnesses

• Option to avail a one-time exit value during emergencies

Entry Age: 18 years

Maturity Age: 85 years

ABSLI Insta Digi Term Plan

A simple, fast, and affordable term insurance plan that ensures instant protection for your loved ones. With 100% digital onboarding and minimal requirements, it offers quick, paperless coverage at highly competitive rates.

• Affordable premium options starting at just ₹12 per day*

• Seamless, fully digital onboarding process

• Quick policy issuance with minimal documentation

• No medical tests or paperwork required for coverage

Entry Age: 18 years

Maturity Age: 61 years

ABSLI Saral Jeevan Bima

A standard term insurance plan that is easy to understand and simple to buy, designed to meet the protection needs of individuals from all walks of life. It ensures your family remains financially secure in case of an unforeseen event.

• Simple and standardised protection plan approved by IRDAI

• Affordable premiums and flexible coverage options

• Suitable for first-time term insurance buyers

• Life cover available for a fixed period as per your choice

Entry Age: 18 years

Maturity Age: 70 years

Who Should Buy Aditya Birla Sun Life Term Plans?

Aditya Birla Sun Life Term Plans are designed to provide financial security and peace of mind to families in the event of an unforeseen loss. These plans are particularly suitable for:

• Individuals with Financial Dependents: If you have a spouse, children, or elderly parents relying on your income, a term plan ensures their financial stability in your absence.

• Working Professionals: Salaried employees and business owners can protect their family’s lifestyle and ongoing expenses even if their primary source of income is lost.

• Homeowners with Loans: Individuals with home loans or other liabilities can safeguard their family from the burden of outstanding debts.

• Parents Planning for Children’s Future: If you want to secure your children’s education or marriage expenses, a term plan ensures these goals are met even in your absence.

• Anyone Seeking Affordable Life Cover: Term plans offer high coverage at relatively low premiums, making them suitable for those looking for maximum protection at an affordable cost.

How To Buy Aditya Birla Sun Life Term Plan From Policybazaar?

Below are the steps to buy Aditya Birla Sun Life Term Plan from Policybazaar:

Step 1: Visit the official Policybazaar website and go to the Term Insurance section.

Step 2: Provide your name, contact details, gender, and date of birth.

Step 3: Enter the information regarding your job type, yearly income, educational qualifications, and smoking/tobacco consumption habits.

Step 4: Choose the Aditya Birla Sun Life Term Insurance Plan from the list of term insurance plans that appears.

Step 5: Pay using your preferred mode to complete the process.

*Note: You can easily use the term insurance calculator to quickly calculate your term life insurance premium amount of your selected Aditya Birla Sun Life Term Plan.

Documents Required to Buy Aditya Birla Sun Life Term Plans

The following documents are required to buy Aditya Birla Sun Life Term insurance plans:

• Identity Proof: PAN Card, Aadhaar Card, Voter ID, Driving License and Passport.

• Address Proof: Passport, Voter ID, Aadhaar Card, Driving License, Electricity/Telephone/Gas Bill, Rental Agreement. 

• Age Proof: Educational Certificates, Birth Certificate, Passport

• Income Proof:

  • Salaried individuals: 3-6 months of salary slips and 3-6 months of bank statements.

  • Self-employed individuals: 3 years of Income Tax Returns (ITR) and business accounts. 

Factors to Keep in Mind Before Buying Aditya Birla Sun Life Term Plans

When considering an Aditya Birla Sun Life Term Plan, it is important to evaluate a few key factors to ensure that you choose the right plan for your family’s financial security:

• Claim Settlement Ratio (CSR): Check the term insurance claim settlement ratio of Aditya Birla Sun Life. A consistently high CSR (above 95%) indicates a higher likelihood that claims will be settled smoothly, providing your family with financial support when needed.

• Solvency Ratio: The solvency ratio reflects the insurer’s ability to meet all its financial obligations. Aditya Birla Sun Life, like all IRDAI-regulated insurers, maintains a solvency ratio above the mandated 1.5 (150%), ensuring reliability in claim settlements.

• Customer Reviews: Go through customer feedback and reviews to understand the experience with Aditya Birla Sun Life’s term insurance services. Positive reviews and responsive customer care indicate a smoother experience during policy management and claim settlement.

• Policy Terms & Conditions: Carefully review the policy documents to understand the coverage, exclusions, and other key terms of the Aditya Birla Sun Life Term Plan. This helps avoid confusion during the claim process and ensures you are aware of what is included in the plan.

• Payout Options: Aditya Birla Sun Life Term Plans offer flexible payout options for the death benefit. You can choose a lump sum, monthly instalments, or a combination of both, depending on what best suits your family’s financial needs.

What Are The Exclusions In Aditya Birla Sun Life Insurance?

Here are the exclusions in the Aditya Birla Sun Life Insurance:

Suicide: If the life assured/policyholder commits suicide within a year of buying the term life insurance policy, the beneficiaries/nominees will not be able to claim the Aditya Birla Sun Life Term Plan death benefit.

What is the Claim Process for Aditya Birla Sun Life Term Plans?

Here is how you can claim your Adityabirla insurance term plan:

• Informing the Insurer:

Notify Aditya Birla Sun Life about the claim by visiting the nearest branch, calling their helpline, sending an email, or submitting a request online. Once informed, the insurer initiates the claim settlement process.

• Filling the Claim Form and Submitting Documents:

Your nominee must fill out the claim form and submit it along with the required documents. The form and documents can be obtained from the insurer’s website or branch office. Additional documents may be requested for verification, depending on the policy and circumstances.

• Claim Approval and Payout:

The insurer reviews all submitted documents and decides whether to approve or reject the claim. If approved, the claim amount is paid to the nominee as per the chosen payout option. Processing may take a few days or weeks, but many insurers now offer a 24-hour claim settlement guarantee.

Note: Check out the best term life insurance in India and choose one that suits your requirements.

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