Aditya Birla Sun Life Term Insurance Calculator

Aditya Birla Sun Life Insurance is a well-known insurer, which offers a range of insurance policies to Indian customers. The insurance seekers can choose from a wide range of comprehensive plans as per their requirement and suitability. The most popular product offered by Aditya Birla Sun Life is the term insurance plan. The Aditya Birla Sun Life Term Insurance policies provide the right financial protection to the assured’s family and ensure their financial security in the long term. To choose the best term insurance plan as per one’s requirement, the buyers can make use of the Aditya Birla Sun Life term insurance calculator. Read further to know in detail about the ABSL term plan calculator.

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*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

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Why Should You Use Term Insurance Premium Calculator?

The customer has plenty of options when it comes to choosing an insurance product. The term insurance premium calculator considers various parameters such as age, marital status, amount of wealth accumulated while calculating the premium rate of the policy. This online premium calculator helps the customers to select the right plan according to their income and savings. Another essential function of the Aditya Birla Sun Life term insurance calculator is the comparisons and analysis of various insurance products, which will benefit the insurance buyers to make an informed choice.

  • An online premium calculator can help one prepare his/her financial goals by calculating the amount paid as a premium for the term plan availed.
  • This online tool is user-friendly, easily accessible, and most importantly, it is available on the insurer’s website for free.
  • The premium calculator's vital aspect is to weigh different options before choosing a suitable term plan. It provides detailed information to the customers on their chosen insurance product and offers thorough knowledge on the amount of premium to be paid to plan their life insurance cover. Moreover, it helps investors opt for the insurance plan according to their budget/income/savings.
Why buy Term Insurance early?

Your premium is decided on age at which you buy the policy and remains same, throughout your life

Premiums can increase between 4-8% each year after your Birthday

Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease

See how age affects Term Insurance Premiums
See how age affects Term Insurance Premiums
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The process to Use Aditya Birla Sun Life Term Insurance Calculator?

The Aditya Birla Sun Life Term Plan calculator is available on the insurer’s official website under the sub-menu named Insurance calculators. Below are a few simple steps to use the ABSL term plan calculator.

Provide mandatory information

The term plan calculator requires basic information such as the age or the date of birth of the policy buyer, gender, name, marital status, income, etc. The calculator may also need details related to the customers' habits like does he/she smokes or not.

Enter the financial details

The calculator needs to determine the sum assured based on the customer's monthly income, family needs, and future financial goals. The premium is computed after careful assessment of the above factors.

Finalizing the policy and premium

The last and final step in the process wherein the customer is shown the premium amount on his/her screen. The customers can analyze the data and decide if the suggested amount is within their budget. Depending on which, they can either choose to go ahead with the policy purchase or make changes to the sum assured and calculate a different premium rate to tailor their needs.

Advantages of Aditya Birla Sun Life  Term Plan Calculator

Interactive interface

The term plan calculator is user-friendly with an interactive interface. The customer with a vague idea of the policy premiums, sum assured, duration of the plan can readily determine and understand the policy's workings along with its benefits. The user can also alter the inputs and analyze different outcomes, enabling them to make sound and informed decisions.

Saves paperwork

The term plan calculator is accurate with exact details, minimizing mathematical errors resulting in reduced human efforts. It keeps the precious policyholders' time to access all the information on the insurer's website.

Solution at free of cost

The ABSL term plan calculator does not charge users for its services and is free of cost.

Information Required While Using ABSLI Ultima Term Plan Calculator 

The ABSL Term Plan calculator collects some mandatory information from the customers to effectively calculate the chosen policy's premium amount. Some of the essential details include

  • Personal details-It includes details related to the policyholders' age, date of birth, gender, If the policyholder is new, then he/she might also need to submit his/her first and last name along with the mobile number and email address.
  • Details of the Medical condition-The term plan calculator might ask if the customer has unhealthy habits. It might also ask for details of family members along with their medical history if they have any.
  • The monthly income is another parameter that is taken into consideration while calculating the sum assured. The online calculator estimates the sum assured depending on the income details of the policyholder. It gives the policyholder an approximate idea about the benefits of the plan.

Benefits of Buying ABSL Term Insurance Plan 

The following are some of the benefits of buying an ABSL term insurance policy.

Financial Protection  

The ABSL term insurance plan provides financial protection to the family of the insured in case of any eventuality. If the life assured dies an unfortunate death during the tenure of the policy, then the total sum assured amount as death benefit is paid by the insurer to the beneficiary of the policy.

Enhanced Life stage protection

One can use this benefit with a written request to the insurer within six months of the marriage event or the birth of the first and second child keeping in mind the below terms and conditions.

a. The policyholder must be less than 50 years of age or must have attained 50 years of age.

b. The policyholder must not have any instalment dues pending provided that the policy has a regular payout option.

Suppose the policyholder meets all the above conditions. In that case, the company will pay him/her half of the sum assured on the first marriage, they will also pay 25% of the sum assured during the birth of the first child, and the insurer will pay the remaining 25% of the sum on the birth of the second child.

Wealth Accumulation 

The ABSL Ultima Term Plan can also be used for wealth creation wherein the investor with good discipline and patience can create a large amount of wealth.

The term plan secures the policyholder's family from unforeseen events such as the sudden demise of the life insured natural disasters and nurtures them financially during such testing times.

Range of options for premium payment and policy terms 

The ABSL Ultima Term Plan also provides flexibility for premium payment, making it customer-oriented. The term plan considers various factors such as income, loans, and other financial goals. The policyholder can also choose the frequency of premium payment at his convenience.

Aditya Birla Sun Life Term Plan Premium Rates 

The term insurance plans offered by Aditya Birla Sun Life comes at reasonable and affordable rates, making it budget-friendly. It covers customers from the grass-root level, such as minors, female workers, and government officials. The company offers discounts to the following group of people.

  • Children under the age of 18 are given lower rates considering that they live longer and make valuable contributions.
  • Working women and single mothers with the occupation are given decent rates compared to young men. (*Standard T&C apply)
  • Government officials are also given better rates(*Standard T&C apply)
  • Higher premium rates are provided for professionals and employees who work in a risky environment, such as pilots, firefighters, miners, etc.
  • Usually, lower rates are given to those term insurance plans that come with premium payment throughout the policy tenure.

*All rates are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C applies.

FAQs

  • Q. What is the time duration to open an insurance account online?

    An online insurance account usually takes seven days to activate. After activating the online credentials, a welcome kit is sent to the account holder, furnishing its operation details.

  • Q. Do the customers need to pay an account maintenance fee?

    No, the online account is provided for free. 

  • Q. What is the Policy number and Client ID?

    The policy number is a nine-digit unique identification number found on the right side of the policy document. It is different for each policy availed by the customer. The policy number helps track the policyholders' records for references.

    Client ID is a ten-digit number found on the left side of the policy document. The customers with more than one policy are given a client ID. For customers with multiple approaches, client ID comes in handy as it is easier to remember. It is also helpful as the customer can use the client ID as an alternative if they have multiple policies availed.

  • Q. What is the procedure to change the contact address and mobile number?

    The customer can update personal details such as contact address. The policyholders can correct the mobile number by submitting a Policy Service request form to any of the ABSLI branches at a nearby location. The customer must also need the following documents.

    • Proof of address attested by ABSLI authorized signatory.
    • Proof of identity attested by ABSLI authorized signatory.

    The contact number of the policyholder can be updated on the official website of the insurer using CIP/TPIN 

  • Q. How can one buy term insurance?

    A customer can make use of online and offline facilities to buy term insurance. He/She can purchase Term insurance online by visiting the official website of the insurer. The customer can enter his details such as name, gender, mobile number, and sum assured. The insurer will generate a quote containing the premium to be paid based on the customers' inputs. He/She can buy term insurance offline by getting in touch with an advisor. 

  • Q. Who gets the claim money?

    The nominee mentioned by the life insured in the application form for insurance gets the claim money. 

  • Q. What is the age limit to purchase a term insurance plan.

    It is recommended to buy a plan early. The premium for the policy increases with age. Usually, the age limit is from 18 years to 65 years.

  • Q. What should one do to have online access if one doesn't have a CIP/username?

    Please visit the insurer's official website, click on the register tab, and enter the customer ID followed by the email address.

  • Q. What is the procedure to reset the username or password?

    The user can click the link called Forgot username and follow the instructions given by the insurer. The insurer may ask security questions to authenticate the user, after which the new login details are sent to the customer's registered email. 

    Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. 

    *All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 32 Reviews)
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Aditya Birla Sun Life Term Insurance Calculator Reviews & Ratings

4.5 / 5 (Based on 32 Reviews)
(Showing Newest 25 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.
Saurabh
Bawal, June 28, 2016
Good Policy
My term insurance plan is very good and returns are much more than investment. The premium of the policy is low and claims are high. Policy coverage is fantastic and claims are easily sanctioned due to superb service provided by the company members. Nice future investment.
DEEPA
Mumbai, May 14, 2016
THREE EASY STEP
I M VERY HAPPY TO HAVE THIS PLAN AS IT IS VERY EASY TO TAKE IN THREE EASY STEPS WHICH WOULD BE NOT AVAILABLE WITH DIFFERENT POLICIES IN INSURANCE SECTOR.SERVICE PROVIDED BY BSLI IS SO EXCELLENT FOR WHICH I M SUGGESTING FOR OTHERS TO TAKE THIS PLAN.
Hitesh
Pune, March 30, 2016
Full Point
I purchased birla sun life insurance policy and the product is term insurance policy plan. The premiums are ~Rs.7 K per month. The claims are good and easily sanctioned. Service facilitate by executives and staff members are very nice and fast. The policy saves taxes and it is really very good investment for future.
Nitin
Agartala, March 30, 2016
I Like The Policy Plan
Searching for life insurance and finally got one from birla sun Life Insurance one of the best insurance company. I took term insurance policy plan. The premium is normal and the policy coverage is approx. 93% and claims are high. The service is fine and the web services are also good.
Mayank
Manesar, March 30, 2016
Damn Good
My term policy plan is with birla sun life insurance policy plan. The policy coverage is high ~80%. Claims are easily sanctioned because of the quick services. The amount of payback is Rs.23 L. I'm satisfied with this policy plan.
Tarun
Mohali, March 30, 2016
Perfect Term Plan
My term policy plan has 90% policy coverage. Claims are high and easily sanctioned due to fast service. Premiums are ~37 K annually. Service is fast and always with taking good care by executives and staff members. Thank you, birla sun life insurance for this great policy. I like it very much.
Poonam
Udaipur, March 30, 2016
Fast Services
My term policy plan is good but the claims are less as compare with investment. The premiums is ~9.2 K twice per year. And returns are around Rs. 21 L. Birla sun life insurance is basically good policy company like they give 5% extra less for women on premiums. I like it.
Ritesh
Ranchi, March 30, 2016
Super Policy
I buy birla sun life term insurance policy plan. The policy coverage is good about 81% and the claims are high. The premium is low ~rs.33 K thrice per year. The services are fast and the claims are easily sanctioned. My taxes are also saved due to this policy. Good investment good policy plan, I like it.
Jignesh
Lonavla, March 30, 2016
Much Better Plan
Birla sun life insurance term policy plan i buy in low premiums and the policy coverage is 95% with good claims. The service is great provided by the executives and the 5% less on premiums for women. I like the policy plan. Behaviour also really nice from the staff members.
Rahul
Mysore, March 30, 2016
Fair Deal
The policy provide benefits according to premiums, so the term policy plan which i buy from birla sun life insurance is fair deal. Policy coverage is 70% and the claims are little bit low as the premiums are low. Around 23 L is the returns and the online portal is good and respond well.
Yajan
Jammu, March 30, 2016
Good Future Investment
My term policy plan is with birla sun life insurance. It has low premiums and the returns are high. Policy coverage is 90% and the claims are sanctioned easily form the insurance department. The taxes are not for premiums and claims. Even the 5% extra benefits for women on premiums. I like the policy plan, nice future investment.
Saahir
Malapuram, March 30, 2016
Fine Term Plan
Birla sun life insurance is equally good as other insurers for term insurance policy plan. The policy has low premiums and 5% extra less for women. The policy coverage is high with high claims and the claiming part is easy and no paper work so no waiting. Nice job guys.
Aman
Chandigarh, March 30, 2016
Best Policy
Policy plan is wonderful with huge benefits like low premiums and the policy coverage is high 90%. Claims are are good and the payback amount is around Rs.25 L after the policy get mature. Internet services are great with easy interface and vast variety of policies are there with full descriptions.
Jiten
Hyderabad, March 30, 2016
Wonderful
Birla sun life insurance is one of the best insurer for term insurance policy plan. The policy coverage is 93% and the claims are good even the the claiming procedure is easy because the service provided by the company members are good and even the web services are even better. The premiums are low and for women 5% less extra benefits.
Devesh
Faridabad, March 30, 2016
Good Plan
I buy term insurance policy plan from birla sun life insurance. The policy coverage is 80% and the premiums are low ~25 K per year. The claims are easily sanctioned because the services are fast from the executives side and from online web services also. The policy premiums are 5% less for women.
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