Aditya Birla Sun Life Insurance Saral Jeevan Bima

ABSLI Saral Jeevan Bima is a Non- participating, Non-linked, pure risk premium, an individual life insurance plan that is specially formulated to protect the interest of the policyholder's family from the casualty of unprecedented demise. Compensation in a lump sum payment saves the vicious cycle of debts and loans from fulfilling the long-term goals or endeavors of the family. ABSLI Saral Jeevan Bima is comprehensive term insurance with a nominal premium towards a higher return.

ABSLI Saral Jeevan Bima encompasses a set of protocols and instructions for availing the best of Policy. It has its key features explicitly created to circumspect the ill scenarios and protects the beneficiaries from the heavy burdens. With the ingenious concept tailored to fit in the real-life, anyone belonging to the prescribed mature age group is eligible. Be it an 18-year-old person or a happening adult, ABSLI Saral Jeevan Bima covers all.

Eligibility Criteria of Aditya Birla Sun Life Insurance Saral Jeevan Bima

The following are the eligibility criteria of the policy. 

**Standard Terms and Conditions apply.

Benefits Offered by Aditya Birla Sun Life Saral Jeevan Bima

The scheme offers a broad scope of benefits to the policyholder and his family; it comes with an array of informed decisions. ABSLI Saral Jeevan Bima protects the interests of all members, thereby.

The plan is available in several variants, and users can choose the option as per their insurance requirements.

• Level cover- The death sum assured is paid in the lump sum as directed in the policy brochure.
• Increasing Cover- With every policy anniversary, the Sum Assured cover increases.
• Income Benefit- Death benefit is paid in monthly instalments
• Level Cover plus Income Benefit- The death benefit is paid in a combination of the lump sum and fixed monthly instalments spread across 10 years.
• Low Cover- Under this plan option, the death benefit is paid as a lump sum.

Death Benefit:

With the onset of the scheme triggered by the loss and unfortunate demise of the Life Insured during the period that is granted in waiting, the death benefit is paid to the beneficiaries/nominees/legal heirs as:

• This benefit will commensurate equally with the Sum that is assured on death in case of an accidental one.
• In the event of accidental death, the benefit from death will be equal to 100 percent of all premiums paid, excluding taxes.
• Sum Assured on Death- 

For controlled pay and Usual Pay policy, highest pay commensurate to- 

• 10 times multiplied to Annualized premium
• Hundred and five percent of all premiums are to be paid on the death day.
• All the absolute amount assured that is to be paid on the death
• Hundred and twenty-five percent of a single premium.

For a Single Pay policy,

• More than a hundred and twenty-five percent of single premium
• Real amount assured to be paid on the death of the insured.

In a year, the total premium paid is Annualized Premium, excluding rider premiums, taxes, extra underwriting premiums, etc.

When the policyholder has to pay excluding the extra underwriting premiums, it's single Pay. Levied taxes or applicable additional ride-ons will be liable to be deducted.

Absolute amount assured to be paid on death- shall be an amount equal to Sum Assured.

When in the Semi-Annual and Monthly mode, the unpaid premium instalments from the date of death to the next policy anniversary shall be deducted from the payable's death benefit.

Tax benefit- The plan provides tax benefits as applicable under the standard tax laws.

**Tax laws may be subject to changes.

Additional Riders

When looking for added protection, one enjoys the prerogative of enhancing their life insurance coverage by paying an extra premium at a nominal price and get additional riders. These are customizable benefits that are based on the choice of the customer. 

ABSLI Accidental Death Benefit Rider Plus gives the benefit of a 100% Rider Sum Assured as an extra lump sum amount in the event of accidental death of the Life Insured. 

Customers can get additional rider coverage with this plan. This Rider Sum will be an assured amount payable if a specific event is covered under the policy. 

Moreover, the rider premiums collected after the accident date till death is guaranteed to be refunded with interest and payable death benefits.

Premium Illustration

As sure of the payment methods in a facile and flexible mode guaranteed, it has the option to pay as in Single, Limited, or Regular modes. At the same time, regular premiums can be in annual payments, semi-annual, or monthly instalments.

The ABSLI Saral Jeevan Bima plan premium rates can be determined based on multiple factors of age, the income of policy buyer, gender, etc.

Documents Required While Purchasing Aditya Birla Sun Life Saral jeevan Bima

Document presentation is an absolute necessity regarding any official work. As per the demand of the company, one can also ask for additional information from an individual. In general terms,

The following information serves as pre-requisites to buy the plan -

• Address Proof- AADHAAR card, Passport, driving license 
• Passport size photograph
• Mobile number
• Identity proof- AADHAAR card, PAN card, passport, etc.
• Proposal form

How to Buy ABSLI Saral Jeevan Bima Plan Online?

One can apply from an online portal. The following steps are to be followed. The online application reaches out to a broader audience and is accessible from any distance. There are two modes- online/aggregator's site and offline, available, as per the prospective buyer's convenience. In just 5 steps, as listed, one can buy the lucrative plan.

• Step1- Visit the official website of life insurance offering the required plan.
• Step 2- On the homepage, find the plan name under the term plan category and click on the Saral Jeevan Bima plan link.
• Step 3-Click on the button “Apply online “and be directed to the application page.
• Step 4- Fill in the required details like DOB, gender, name, and upload necessary documents.
• Step 5- Click on the button of Submit for final consideration.

Exclusions 

ABSLI Saral Jeevan Bima plan covers the Suicide exclusion. According to it, if the policyholder commits suicide within 12 months from the risk commencement date or from the Policy revival date, the policy will get terminated. The insurer will then pay the nominee all the premiums paid to date.

 FAQs