Aditya Birla Sun Life Term Plan with Return of Premium

Aditya Birla Sun Life Term Plan with Return of Premiumis an intelligent protection term plan offered by Aditya Birla Sun Life Asset Management Company Limited. Term plans are often opted by individuals who want to secure their future financial needs in case of any unavoidable circumstances. It is the first step to financially secure your family’s financial needs in your absence.

Read more
Get ₹1 Cr. Life Cover at just ₹411/month*
No medical
checkup required
Save more with
upto 10% discount**
Covers
COVID-19
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers

*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

Get ₹1 Cr. Life Cover at just ₹411/month*
No medical checkup required
Save more with upto 10% discount**
Covers COVID-19
+91
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use & consent to Policybazaar to access your credit report

The Life Shield Plan and DigiShield Plan are the two attractive options offered by the insurer and rank among the country’s top seven life insurance plans.

Eligibility Criteria of ABSLI Term Plan with Return of Premium 

Here are the eligibility criteria for both plans:

  1. Birla Sun Life Term Plan with Return of Premium Life Shield Plan

    • The age at entry for options without WOP benefits ranges from 18 years to 65 years
    • The age at entry for options with WOP benefits ranges from 18 years to 50 years
    • The maximum age at maturity of the plan is 85 years

    The policy term for plan option 1 to 6 is as below:-

    Premium Payment Option

    Min Policy Term (in years)

    Max Policy Term (in years)

    Regular Pay / Single Pay

    10

    55

    Limited Pay 6 & 8 years

    10

    55

    Limited Pay for 10 years

    15

    55

    The policy term for plan option 7 & 8 are as below:- 

    Premium Payment Option

    Min Policy Term (in years)

    Max Policy Term (in years)

    Regular Pay / Single Pay / Limited Pay - 6,8,10 years

    20

    55

  2. Birla Sun Life Term Plan with Return of Premium: Digi Shield Plan

    • The age at entry for options 1,2,3,6,7,8,10 ranges from 18 years to 65 years
    • The age at entry for options 4 and 5 ranges from 45 years to 65 years
    • The age at entry for options 9 ranges from 18years to 50 years
    • The maximum age at maturity of the plan ranges from 69 to 100 years

    The policy term is as follows:-

    Plan Options

    Premium Payment Option

    Min Policy Term (in years)

    Max Policy Term (in years)

    Single Pay

    5

    Plan Option -  1,2,6 & 7

    Limited Pay 

    PPT + 5

    55

    Regular Pay

    10

    Single, Regular  & 5 Pay

    11

    Plan Option -  3

    Limited Pay 

    PPT + 5

    55

    Single Pay

    100 minus Entry Age

    Plan Option -  4 & 5

    5 Pay 

    Single Pay

    1

    4

    Plan Option -  8

    Regular Pay 

    Single Pay

    70 minus Entry Age

    55

    Plan Option -  9

    Limited Pay 

    Plan Option -  10

    Regular Pay 

    10

    55

    The sum assured ranges from a minimum of Rs 1,00,000 to No limit (subject to guidelines)

Salient Features of the Plans

Along with some common features, let us consider the individual features of both plans.

  1. Birla Sun Life Term Plan with Return of Premium Life Shield Plan

    The Life Shield plan offers flexibility to an individual to choose between 8 different options as per their and their family’s requirements to not compromise with their future financial security. It offers an increasing cover period, an in-built terminal illness option, and even returns of premium with additional benefits attached. 

    The key features of this plan are as follows:-

    • The plan offers an individual to cover their spouse and the individual under the same policy
    • The plan offers 8 different options to an individual so that they can customize the plan according to their needs
    • Return of premiums as well as a waiver of premium benefits
    • The plan has an inbuilt terminal illness benefit
    • The policyholder can choose from various premium payment term options namely Single Pay, Regular Pay, and Limited Pay - 6, 8, 10 Years
    • The premium payment frequency can be chosen as annual, semi-annual, quarterly, or monthly by the policyholder at the inception of the plan
    • The sum assured ranges from a minimum of Rs 25,00,000 to No limit (subject to guidelines)
  2. Birla Sun Life Term Plan with Return of Premium Digi Shield Plan

    This plan offers protection to an individual by catering to multiple life needs with a single policy. The policy offers 10 different plan options for different financial requirements all combined within one policy. This is a smart and comprehensive plan to choosefor an individual who is looking out to protect their family’s future financial needs in case of an unforeseen event. The key features of this plan are as follows:-

    • 10 different options to choose from that can cater to an individual’s various financial security requirements.
    • The plan provides comprehensive financial support by providing insurance coverage ranging from 1-year to 100 years of age.
    • The policyholder option can choose from three pay-out options namely single lump-sum payout, monthly payout, or a combination of both.
    • The plan provides a survival benefit option wherein a policyholder can opt for monthly income after 60 years of age to enjoy a financially secured retired life.

Core Benefits offered under ABSLI TROP

Birla Sun Life Term Plan with Return of Premiumplans offer a wide variety of benefits, which are covered below.

  1. Death Benefit

    Like regular term plans, these plans offer a Death Benefit to the nominee or the beneficiary of the policyholder. Once the payout is received, the policy is terminated.

    It is the Sum Assured on Death after deducting any previous Terminal Illness Benefit and is different for different plan options as per the cover option opted for at the time of inception. It can be a lump sum amount, even a monthly, or a staggered payment.

  2. Terminal Illness Benefit

    One very good feature of these plans is the in-built terminal illness benefit which gets paid upon the first diagnosis of any of the listed terminal Illnesses. 

    • Up to 50% of the Sum Assured on Death gets paid, subject to a maximum limit, immediately to the Insured. Subsequently, there is also a provision to waive off all future premiums.
    • If the Insured dies due to the terminal illness during the policy term, the Death Benefit is reduced by the Terminal Illness Benefit amount and then given to the nominee.
    • The DigiShield Plan offers an additional Accelerated Critical Illness (ACI) Benefit with a minimum Rs. 5 lakhs Sum Assured and the maximum can be up to 50% of the Sum Assured, subject to specific conditions as mentioned in the plan brochure. It is paid if any of the Accelerated Critical Illnesses mentioned in the plan get diagnosed.
  3. Waiver of Premium on Total and Permanent Disability (TPD)

    In case the person insured suffers from a total or a partial disability or critical illness or any terminal illness as mentioned in the plan, he will get a premium relief in the form of waiver of future premiums, subject to conditions. The policy will continue till the policy term ends.

  4. Enhanced Life Stage Protection

    Both the plans have features to provide extensive life stage protection at different life stages due to events like marriage, the birth of children, purchase of a house, etc. One can choose to increase the coverage on the occurrence of each of the events. At that time, there is also no need to undergo any fresh medical check-ups.

  5. Joint Life Protection

    Both the plans with ROP options provide this feature for joint life coverage. This means under the same plan, the Primary Life Insured can also cover the life of his spouse. In this case, the Spouse Sum Assured applicable is equal to 50% of the applicable Sum Assured. This joint protection is available under specific conditions as prescribed by the Insurer.

  6. Riders

    Both the plans provide several add-on coverage features with multiple riders available for accidental death, disability, hospital care, surgical care, etc.

  7. Tax Benefits

     The policyholder can avail of tax benefits under Sec 80C and Sec 10(10D) of the Indian Income Tax Act, both the plans with return of premium, for the premium amounts paid and on the payouts received.

    “Tax benefit is subject to changes in tax laws.”

The Process to Purchase ABSLI TROP Plans

The customer has the facility to purchase both the plans under Birla Sun Life Term Plan with Return of Premiumonline on the insurer’s or the insurance aggregator’s website. Customers can visit the website, go through the plan features, and decide the coverage amount needed. 

  • The “Buy Online” option on the website will lead one to fill a form with personal details like name, gender, DOB, smoking habits, and contact details.
  • Upon filling in the required details, the online quick premium calculator available on the website will provide a quick quote based on the Sum Assured, riders and the plan option chosen.
  • If the customer agrees with the propositions of the proposal, he can go ahead and finalize the purchase and make the payment online with any of the digital payment methods.
  • The policy document will be sent to the customer’s registered email after the plan purchase is complete.

Documents Required

TheBirla Sun Life Term Plan with Return of Premium plan is purchased online or offline, the following documents are required:- 

  • Identity Proof.
  • Age Proof.
  • Address Proof.
  • Income Proof.
  • Bank Account Details.

Additional Features

Both the plans have some common features applicable.

  1. Free Look Period

    Under IRDAI guidelines, customers have the option to send back the policy papers after plan purchase within 15 days in case of offline policies and 30 days in case of e-plans, if they are not satisfied with the plan. They need to send a letter specifying the reason for the objection and the insurer will refund their premium paid after deducting any proportionate risk premium, stamp duty charges and any charge incurred for medical checkups.

  2. Grace Period

    The plans provide a 30-days’ grace period for all other premium payment modes (except monthly mode) if the person insured is not able to make the premium payment on the due date. For monthly mode, this grace period is extended to 30 days. 

  3. Policy Revival

    If the policy lapses due to non-payment of premium within the grace period, one can revive one’s policy within five years from the due date of the first unpaid premium. This can be done by the payment of all outstanding premiums with interest.

Key Exclusions

Birla Sun Life Term Plans with Return of Premiumhave certain exclusion features that are as follows: 

  1. Suicide Exclusion 

    The plans provide a suicide exclusion wherein if the policyholder dies due to suicide twelve months from the policy inception date or the policy revival date. The payout to the nominee will include the premiums paid to date (less tax) or surrender value, whichever is higher.

    For Total permanent disability and critical illness, another set of exclusions prevail:

    • No pre-existing disease or ailment can be claimed within 48 months of the policy issue
    • Any sickness manifesting within 90 days of the plan purchase or the planned revival
    • Suicide or attempted suicide or self-inflicted injuries
    • STDs
    • Injuries due to participation in the war, terrorist activities, riots, illegal activities
    • Injuries due to participation in hazardous or adventure activities
    • Disease or ailment due to nuclear contamination and radioactive hazards

    *For a detailed list of exclusions, please refer to the policy document or the product brochure.

FAQ's

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 32 Reviews)
Newsletter
Sign up for newsletter
Sign up our newsletter and get email about term plans.

Aditya Birla Sun Life Term Plan with Return of Premium 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.
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL