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Aditya Birla Sun Life Term Insurance Plans

Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a joint venture between Aditya Birla Group and Sun Life Financial Inc. It offers a wide range of insurance plans, such as term plans and savings plans. The insurer has a distribution network of over 500 cities and 560 branches. Let’s understand more about the insurance company and the term plans offered by them in this article.

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About Aditya Birla Sun Life Term Plan

Aditya Birla Sun Life Term Plan provides comprehensive term insurance to people making sure their loved ones are protected in the event of the policyholder’s unfortunate death. It has a CSR (claim settlement ratio) of 99.59% in the financial year 2021-22, which indicates a track record of settling claims quickly and efficiently. This suggests reliability and customer-centric service of the insurance company. With flexible options for coverage and tenure, this plan allows individuals to tailor their insurance to their specific needs and budget. It offers affordable premiums and the assurance of a tax-efficient policy under applicable sections of the Income Tax Act. 

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

Why Should You Buy Aditya Birla Sun Life Term Plan?

Here are the reasons to buy 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 unfortunatedemise.

  • 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.

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Aditya Birla Sun Life Term Plans

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

Aditya Birla Sun Life Term Plan Entry Age Maturity Age Sum Assured
ABSLI Salaried Term Plan 21 - 55 years 70 years Rs. 50 Lakhs - Rs. 5 Crores
ABSLI DigiShield Plan 18 - 60 years 85 years Rs. 1 Lakh - No Limit 
ABSLI Life Shield Plan 18 - 65 years 85 years Rs. 25 Lakhs - No Limit
ABSLI Saral Jeevan Bima Yojna 18 - 65 years 70 years Rs. 5 Lakhs - Rs. 25 Lakhs
ABSLI Anmol Suraksha Kawach 25 - 55 years 60 years Rs. 50 Lakhs - Rs. 2 Crores
ABSLI Poorna Suraksha Kawach 18 - 65 years 85 years Rs. 30 Lakhs - No Limit
  1. ABSLI Salaried Term Plan

    • Choose from 4 different plans to match your protection needs.

    • Get covered until you're 70, which helps your family financially in the long run.

    • Choose from multiple death benefit pay-out options:

      • Lump-sum

      • Level monthly income

      • Increasing monthly income

    • Enjoy Return of Premium (ROP) option along with life insurance cover to secure your savings.

    • Get inbuilt terminal illness cover.

    • Add extra coverage for 42 critical illnesses with the Accelerated Critical Illness benefit.

    • Enhance coverage with additional rider options.

  2. ABSLI DigiShield Plan

    • Life insurance available for 1 year to age 100.

    • 10 plan options for various protection needs.

    • Choose lump sum, monthly income, or a combination for death benefit payout.

    • Monthly income at age 60 for a worry-free retirement.

    • Return of Premium (ROP) option for savings security.

    • Includes Terminal Illness Benefit.

    • Accelerated Critical Illness Benefit available, covering 42 critical illnesses.

    • Spouses can be covered under the same policy with Joint Life Protection.

    • Enhance coverage with rider options for an extra premium.

  3. ABSLI Life Shield Plan

    • Multiple plan options to match diverse protection needs.

    • Enhance coverage at significant life milestones.

    • Spouse coverage available under the same policy.

    • Choose the Return of Premium option.

    • Includes an Inbuilt Terminal Illness Benefit.

    • Expand insurance with 5 rider options:

      • ABSLI Critical Illness Rider

      • ABSLI Surgical Care Rider 

      • ABSLI Hospital Care Rider

      • ABSLI Accidental Death & Disability Rider

      • ABSLI Accidental Death Benefit Rider Plus

  4. ABSLI Saral Jeevan Bima Yojna

    • Premium payment flexibility includes options for one-time, limited duration, or throughout the policy term.

    • Enhance coverage by adding the Accidental Death Benefit Rider for an additional premium.

    • In case of an insured's accidental death, the plan provides an extra lump sum amount equivalent to 100% of the Rider Sum Assured.

    • Any rider premiums paid after the accident until the date of death will be refunded with interest, in addition to the death benefit.

    • Eligibility for tax benefits under the Income Tax Act, 1961.

  5. ABSLI Anmol Suraksha Kawach

    • Get short-term protection for up to 5 years.

    • Ensure complete financial protection for your loved ones with affordable premiums.

    • Enjoy flexible premium payment options for comprehensive coverage.

    • Receive the Sum Assured on Death as a lump-sum payout to the nominee upon the insured's demise.

    • Explore potential tax benefits on your premium payments.

  6. ABSLI Poorna Suraksha Kawach

    • Choose from 6 Plan Options for versatile life insurance coverage.

    • Enjoy Waiver of Premium (WOP) for Critical Illness (CI) and Total Permanent Disability (TPD) for added financial security.

    • Access a 'One Time Exit Value' for emergency support, returning your premiums paid.

    • Secure savings with Return of Premium (ROP) and Early Return of Premium (ERoP) options, combined with life insurance coverage.

    • Benefit from an Inbuilt Terminal Illness Benefit.

    • Add an Accelerated Critical Illness (ACI) option, covering 42 specified critical illnesses, for an extra premium.

    *Note: It is advisable to firstly understand what is term insurance and then buy term plan from Aditya Birla Sun Life Insurance.

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.

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.

FAQs

  • Q: What is Aditya Birla Sun Life Term Plan?

    Ans: Aditya Birla Sun Life Term Plan is a life insurance policy that provides financial protection to your loved ones in the event of your untimely demise during the policy term.
  • Q: Can I buy term insurance without income proof?

    Ans: Income proof is not mandatory to buy term insurance nowaday. You can easily buy term insurance without income proof.
  • Q: What are the key features of Aditya Birla Sun Life Term Plans?

    Ans: Key features include affordable premiums, flexible policy terms, various rider options, and a choice of coverage options like level or increasing cover.
  • Q: What is the minimum and maximum entry age for Aditya Birla Sun Life Term Plans?

    Ans: The minimum entry age for Aditya Birla Sun Life Term Plans typically starts from 18 years, while the maximum age can vary depending on the specific term plan.
  • Q: Are there any riders available with the Aditya Birla Sun Life Term Plans?

    Ans: Yes, you can enhance your Aditya Birla Sun Life term insurance plan with riders like Critical Illness Rider, Accidental Death Benefit Rider, and more, for an additional cost.
  • Q: Is the death benefit from Aditya Birla Sun Life Term Plans tax-free?

    Ans: Yes, under Section 10(10D) of the Income Tax Act, the death benefit received by the nominee of the Aditya Birla Sun Life Term Plans is usually tax-free.
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Aditya Birla Sun Life Term Insurance Plans
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Aditya Birla Sun Life Term Insurance Plans Reviews & Ratings

4.5 / 5 (Based on 32 Reviews)
(Showing Newest 10 reviews)
Pragya
B.khajuripada, March 31, 2021
Beneficial product
The term insurance which I bought from the birla sun life insurance is one of the best plan I have got. It was done from the website of the policybazaar. I really like the offers and the plans are really beneficial for me and my family. I am thankful to both the team. Thanks.
Shilpa
Rohinaa, March 30, 2021
A great financial services
I have recently got the term insurance plan from the website of the policybazaar. It was the plan of birla sun life insurance. This company is good and have been providing with a lot of better services to me and my family. Thanks team.
Dev
Ambaliyasan, March 30, 2021
Beneficial product
The term insurance which I bought from the birla sun life insurance is one of the best plan I have got. It was done from the website of the policybazaar. I really like the offers and the plans are really beneficial for me and my family. I am thankful to both the team. Thanks.
Avinash
Maandhata, February 16, 2021
Beneficial plan:
I have recently bought a term insurance plan from the policybazaar. It was of aditya birla sun life insurance and that plan is superb. I got to know about various benefits in one plan. Thanks a lot team.
Brijesh
Laharpur, February 16, 2021
High sum insured:
I recently bought a aditya birla sun life term insurance policy from the policybazaar. It is a nice product and has helped me in securing my family’s future. I took the plan with high coverage. Thanks a lot team policybazaar.
Madhvan
Badayun, October 20, 2016
Perfect Policy
Birla Sun life insurance company is good insurers and they provide wide range of insurance policies. Policy coverage is high and the claims are even better. claiming amount is big which is sanctioned when the policy get matured. Online portal is for online renewals of the insurance policies.
Gunjan
Nainital, September 27, 2016
Big Savings
Friend of mine suggested me a term insurance policy which I bought from birla sun life insurance company ltd. Service is absolutely fantastic which is facilitated by the whole term of the insurance company. The renewals are made easy through the service of online portal service.
Tapish
Ajmer, August 25, 2016
Birla Insurance Policy
Recently i have purchased term insurance policy through birla sun life insurance. Premium is less and returns are high. Coverage is very high and claiming is very simple. Service is fast provided by company members.
Vinay
Greater_noida, July 18, 2016
Term plan
Term insurance plan which i purchased from birla sun life insurance. The policy premiums is very less and claims are high. The policy coverage is high and service provided by the executives and members of the company is great.
Hatim
Pipili, July 05, 2016
Very Nice
The term insurance plan which i purchase in less investment amount and it has low premiums too. Service given by the staff of the company is fantastic and even there web service is easy which can do renewals and many more things.
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