Aditya Birla Sun Life Insurance Online Payment

Aditya Birla Sun Life Insurance Co. Ltd.  is one of the well-known companies in the Indian insurance market. The company is co-owned by Aditya Birla Group and Sun Life Financial Inc. The company caters to its customers' financial needs, ranging from children's plans, wealth protection plans, retirement, and pension plans.

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Get ₹1 Cr. Life Cover at just ₹411/month*
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Upto Rs. 46800
Life Cover Till Age
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** Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines

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The company has more than 360 branches countrywide with a customer base of more than 17 lakh. The company provides a wide variety of life insurance options for its customers to make online payments, including money-back policies and alluring reward points.

Steps to Initiate Online Payment

Birla Sun Life Insurance online payments provide stress-free facilities for its applicants to renew or purchase the policies. There are several ways to pay the premium, such as debit card, credit card, e-wallets, UPI, etc. Some of the standard methods of online payment are as follows.

  1. Pay Premium Option

    The customer can make online payments through the Insurer's official website and mobile site (M-site). The customer can also pay premiums using quick links 'Pay Premium Option" by providing the policy number and the date of birth of the policyholder; alternatively, the customer can use 'My Insurance' and pay the premium.

  2. Net Banking

    It is the most commonly used method for policy renewals. The customer can use the IMPS feature to transfer the funds instantaneously to the insurer without any delay. The steps to pay the premium using net banking are as follows.

    • Provide the username and password.
    • Select policy ID and click ‘Pay Now’.
    • From the given options, select Net Banking Option.
    • Select the bank with which the bank account is held.
    • Login to the secured link of the banks and proceed to complete the transaction.
    • The customer can choose to print a premium receipt.
  3. National Automated Clearing House(NACH)

    The customer can enroll for NACH to relieve pain from remembering the due dates and policy lapse. The steps to enroll for NACH are as follows.

    • The customer needs to download the NACH or direct debit form or obtain it from the insurer's branch offices.
    • The customer needs to submit the duly filled form and an original cancelled cheque with MICR Code at the Insurer's branch office.
    • The company will provide the preferred date option wherein the customer can choose the debit date. 
  4. Direct Debit 

    Direct debit is another automated facility that enables policyholders to set up auto-debit mandates on their bank accounts. The customer can avail of the option by submitting the duly filled direct debit form to the branch office and the cancelled cheque leaf with MICR code.

  5. NEFT

    The customer can opt for NEFT by visiting the bank’s website. The following are the steps for NEFT payments.

    • Log on to the net banking section.
    • Provide the credentials of net banking.
    • Choose the NEFT section.
    • Provide the Insurer’s account number as the beneficiary.
    • Enter the IFSC code of the beneficiary.
    • Select the bank and branch name of the beneficiary.
    • Enter the due amount and proceed to pay.
  6. Bill Junction and Bill Desk

    It is an option that enables the customers to pay the premium amount along with other utility bills.

    The steps to make payment using the bill desk and bill junction are as follows.

    • Login to the bill desk site.
    • New users need to be registered.
    • For existing users, no registration is needed.
    • Select Aditya Birla Sun Life Insurance as a ‘Biller’ under the ‘Insurance’ category.
    • Register the policy details.
    • Proceed to pay the premium.
  7. Credit Card

    The policyholder can make payments on an immediate basis with the help of a credit card. The steps for credit card payment are as follows.

    • Provide the login credentials with a valid username and password.
    • Choose the payment option.
    • Select the policy Id from the drop-down menu and click on pay now.
    • Choose the credit card option.
    • Select the card type.
    • Proceed to complete the transaction.
    • The customer can print the premium receipt.
  8. Debit Card

    The steps for debit card payment are as follows.

    • Provide the login credentials with a valid username and password.
    • Choose the payment option.
    • Select the policy Id from the drop-down menu and click on pay now.
    • Choose the debit card option.
    • Select the bank from the given list.
    • Proceed to complete the transaction.
    • Print the premium receipt.
  9. Standing Instruction on Card

     The customer can opt for standing instruction on a credit card for paying the premium. The steps to set online standing instructions are as follows.

    • The customer can select the standing instruction from the Quick link.
    • Provide the nine-digit policy number and click on the submit button.
    • Select Standing instruction on credit card and then enter the credit card details for registration.

Benefits:

The online payment process offers a more accessible alternative to the policyholders. The policyholders can choose to make the payments through the Insurer's website or by using the official mobile app. Some of the key advantages of using the Birla Sun Life Insurance online payment process are as follows.

  • The Fast and Convenient-The online method of payment is a quicker and more efficient way. It is a time-saving option, where the customer can avoid waiting in long queues to complete the documentation.
  • Accessible at Fingertips: The customers with an internet connection can choose to pay from their mobile device or use a computer. This make the insurance process easily accessible. 
  • Win-win Option- The online option is favorable to the policyholders in many ways. The insurer has designed its online payment methods in a customer-friendly way, which takes a few minutes to complete the payment process.
  • Continuous Assistance: The insurance company is ready to engage with its customers around the clock with the effective use of its official website, mobile app, and social media pages.
  • Check Also: SBI Life Insurance Online Payment | PLI Online Payment

Information Needed for the Online Payment 

The following information is required to make the online premium towards Birla sun Life Insurance products:

  • The customer needs to provide his/her basic details such as name, policy number, mobile number, and email address, and date of birth.
  • For Netbanking, the customer needs to enter the correct credentials with the least number of attempts. 
  • The customer can get locked out of the online account in case of too many failed attempts.
  • For debit card and credit card payments, the customer needs to enter the number of the valid debit/credit card and the three digits CVV mentioned at the backside of the card.
  • In some cases, the bank may send an OTP to the registered mobile number to authenticate and verify the transaction.
  • The customer's account will reflect on the same day if the payments are transacted before 3 p.m. 
  • For payments made after 3 p.m., the account will reflect the premium the next day.
  • The portal will reflect only active policies.

Online vs. Offline Payment Process

Aditya Birla Sun Life online payment for premium is transacted entirely online on the official website of the insurer and the insurer's mobile app. Online payments are made with the help of the internet and net banking. It provides a stress-free option to make payments. The customer can eliminate the need to stand in long queues or drive long distances to visit the branch location. The key benefit of online payments is their availability round-the-clock with minimal downtimes. The insured can communicate with the insurer directly without the need for a third-party.

Offline payments are tedious as it is a time-consuming process. It also requires the customer to visit the branches only during office hours. The policyholder is at the mercy of the cashier to pay the premium. The offline payments are often dealt with in cash, which requires constant counting and double-checking at the cashier. Also, there is a limit for offline payment.

Read More: HDFC Life Online Payment

FAQ's

Written By: PolicyBazaar
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