Aditya Birla Sun Life Term Insurance Plans

Its distribution network is in over 500 cities, 560 branches, around 85,000 empaneled advisors and over 140 partnerships with corporate agents, brokers and banks.The company has pioneered the launch of Unit Linked Life Insurance plans and their vision is to be a leader and role model in integrated financial services. They value Integrity, commitment, passion, seamlessness and speed.

Birla Sun Life Term Plan

Aditya Birla Sun Life Insurance Company offers a range of Term Plans to suit the needs of every individual whether it is for pure protection purposes or for securing loans. Let us take a look at the range of term plans offered by Aditya Birla Sun Life Insurance Company and the respective features.

Birla Sun Life Term Plan - Future Guard Plan

It’s a Birla sun life term plan with return of premium option wherein the premiums paid are returned on maturity. The features and benefits of the plan are as follows:

• The premium under this Birla Sun life term plan is payable for the entire duration of the plan
• The plan comes in two variants of A and B. Under variant A, 100% of the premiums paid are returned on maturity. Under variant B, 110% to 150% of the premiums paid are returned depending on the plan term chosen.
• On death of the insured during the tenure of this Birla Sun life term plan, higher of the Sum Assured or the maturity Sum Assured or 10 times the annual premium or 105% of total premiums paid till death is payable to the nominee
• Females are charges lower rates of premiums
• There are 5 other riders which can be availed under this Birla Sun life term plan which are:
• ABSLI Accidental Death & Disability Rider
• ABSLI Critical Illness Rider
• ABSLI Surgical Care Rider
• ABSLI Hospital Care Rider
• ABSLI Waiver of Premium Rider
• Tax benefit is applicable on the premiums paid and also on the claims received

Eligibility Details

Birla Sun Life Term Plan - Easy Protect Plan

A basic term insurance plan with the following features:

• The premiums under this Birla Sun life term plan can be paid for the entire duration of the plan or in a lump under the Single Pay option of premium payment
• There are two coverage options under this Birla Sun life term plan namely Level Sum Assured where the Sum Assured remains uniform throughout the tenure of the plan and Increasing Sum Assured where the Sum Assured increases every year @5% or 10% as chosen by the policyholder.
• On death, the available Sum Assured is paid to the nominee
• Females are charges lower rates of premiums
• There are differential rates of premiums for smokers. Non-smokers and preferred non-smokers
• Sections 80C and 10(10D) provide tax relief on the premium and claim

Eligibility Details

Birla Sun Life Term Plan - Protect @ Ease Plan

An online term plan which provides a high coverage at lower rates of premium. The features of the plan are as follows:

• The premiums under the plan can be paid for the entire duration of the plan or in a lump under the Single Pay option of premium payment
• There are two coverage options under this Birla Sun life term plan namely Level Sum Assured where the Sum Assured remains uniform throughout the tenure of the plan and Increasing Sum Assured where the Sum Assured increases every year @5% or 10% as chosen by the policyholder
• In case of death of the insured during the tenure of the plan, higher of the available Sum Assured as on the date of death or 10 times the annual premium or 105% of all premiums paid till death is payable to the nominee
• If Single Premium is paid under this Birla Sun life term plan, the death benefit would be higher of 125% of the single premium paid or the Sum Assured as on the date of death.
• The nominee has an option to avail the death benefit in lump sum or in instalments. Under the instalment option, 20% of the Sum Assured is paid on death and the remaining benefit can be availed over a period 10, 15 or 20 years @11%, 8.37% or 7.12% of the Sum Assured respectively.
• There are differential rates of premiums for smokers. Non-smokers and preferred non-smokers

Eligibility Details

Applying for a Term Plan from the company:

Online

Birla Sun Life offers specific life insurance plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued

Intermediaries

Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.

Applying For Term Insurance through PolicyBazaar

• On the PolicyBazaar homepage, click on Term Insurance under the Personal tab.
• lick New Quotes to compare and choose plans from insurance providers.
• Fill your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. On the basis of your payout amount, you will get an estimate of your premium. Next click Continue.
• Fill in your name, email address, city, country code, and mobile number. Click Continue.
• You will be taken to the Life Insurance quotes page where you will see life insurance quotes of more than 10 insurers. Next, choose the plan as per payment schedule – One Time Payout and Monthly Payout Plans.
• After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan.
• You will see a pop-up on the screen which will give you an overview of the chosen plan like premium, plan features, exclusions, additional riders, etc. Click Proceed.
• This will take you to the insurer’s website. You will have to fill in the necessary details to buy the plan.

Aditya Birla Sun Life Term Insurance Plans- FAQs