Aditya Birla Sun Life Insurance

Aditya Birla Sun Life Insurance Company Limited or ABSLI, formerly known as Birla Sun Life Insurance Co. Ltd. started its operations on January 17th, 2001 in India. It has been more than a decade that the company is enjoying its presence in the insurance sector and has arisen as one of India's leading insurance groups. The company is a joint venture between Aditya Birla Group, a sincere multinational enterprise with a global presence and Sun Life Financial Inc., one of Canada's top financial service organizations. It is also currently ranked among the top seven companies in Individual Business (Individual FYP amended for 10% single premium) in India.

ABSLI is among India's most trustworthy and foremost insurance organizations offering a range of products across the customer's lifecycle, including wealth protection plans, health plans, retirement and pension solutions, children future plans, Unit-linked Insurance Plans (ULIPs) and traditional term plans.

Highlights Of Aditya Birla Sun Life Insurance

Aditya Birla Sun Life Insurance Plans

1. ABSLI Term Insurance Plans

ABSLI Term Insurance Plans are affordable and traditional life insurance plans that provide financial stability together with complete protection to you and your loved ones. These plans also offer life insurance coverage to the family against any type of unforeseen event with the policyholder.

Let us look at the following ABSLI Term Insurance Plans:

i) ABSLI Life Shield Plan

ABSLI Life Shield offers joint life protection with your spouse and gives you the freedom to choose from 8 plan options and sum assured amount depending on your needs. The policy offers enhanced life stage protection, i.e, the plan provides additional cover during key stages of life like marriage, the birth of 1st and 2nd child. It also provides inbuilt Terminal Illness Benefit and Waiver of Premium Benefit in the event of critical illness and total permanent disability.

Eligibility Criteria

ii) ABSLI Income Shield Plan

ABSLI Income Shield Plan offers financial support required to protect your loved ones even in case of death or other unforeseen circumstances. It assures that the family continues to receive a monthly income necessary to maintain their lifestyle. It allows you to enhance your insurance with an appropriate rider option.

Eligibility Criteria

2. ABSLI Wealth With Protection Plans

ABSLI Wealth with Protection or Unit-linked Insurance Plans (ULIPs) offers comprehensive protection to the life assured. It is a combination of life insurance cover along with investment options which in turn helps to create wealth with the help of market-linked returns. Under these ULIPs, a portion of the premium is for life coverage and the rest is for investments consisting of bonds, stocks, etc.

ABSLI offers the below-mentioned Wealth With Protection Plans to its customers:

i) ABSLI Wealth Max Plan

ABSLI Wealth Max Plan is a ULIP plan that provides security to your wealth against market fluctuations and minimizes the equity market associated risks. Under the plan, you can choose from 11 segregated fund options to have complete control of your premium investments. You are free to make partial withdrawals with this policy and it also offers top-ups to enhance your savings during the policy term.

Eligibility Criteria

ii) ABSLI Wealth Secure Plan

ABSLI Wealth Secure Plan ensures the policyholder to maintain an investment portfolio as per your risk appetite. With the help of this plan, you can develop a disciplined habit of savings and save time on management of investments in the market. You will be liable to get a whole life cover under the plan with limited premium payment term options. The plan offers 3 fund options so as to match with your investment requirements.

Eligibility Criteria

iii) ABSLI Wealth Assure Plan

ABSLI Wealth Assure Plan offers security to the family against the unfortunate death of the policyholder before the maturation of the policy. The plan is liable to pay the basic sum assured in addition to basic fund value upon claim intimation by the beneficiary. The policy allows you to make partial withdrawals to fulfil emergency fund requirements. To maximize your savings, top-ups can also be added under the plan.

Eligibility Criteria

iv) ABSLI Fortune Elite Plan

ABSLI Fortune Elite Plan safeguards your wealth and savings to meet your financial goals in the future. Under the plan, you are allowed to surrender the policy anytime within the policy tenure during any emergency. It offers the flexibility to select the premium paying term and policy term from different available options.

Eligibility Criteria

v) ABSLI Wealth Aspire Plan

ABSLI Wealth Aspire Plan is a plan that secures your accumulated wealth for future financial goals of life. It helps you to build a corpus for your loved ones and fulfil various liabilities. On the death of the policyholder, it offers a death benefit equal to the sum assured amount plus additional bonus, if applicable as per the clauses of the policy (This benefit is not less than 105% of the paid premiums).

Eligibility Criteria

3. ABSLI Child Plan

ABSLI Child Insurance Plan is specially designed to protect the future of your child's education, marriage and various other significant milestones of life. This plan offers life insurance cover along with protection for the future even in case of death of the parent.

Let us discuss the following child insurance plan by ABSLI:

i) ABSLI Vision Star Plan

ABSLI Vision Star Plan ensures financial stability and fund management so as to prepare for different opportunities in your child's life. It makes sure that the child does not suffer any loss in his/her career because of inadequate funds. The policy also announces and adds simple reversionary bonuses and terminal bonus accrued till maturity on every policy anniversary at the end of each fiscal year.

Eligibility Criteria

4. ABSLI Health Plans

ABSLI Health Plans provides coverage against all the medical and surgical procedures that the policyholder may go through in the future. These plans also take care of the hospital bills, medical bills as well as treatment costs during any health emergency. With the help of these health plans, you can insure your family members under the same plan.

Here's a list of health insurance plans provided by ABSLI to its clients:

i) ABSLI Cancer Shield Plan

ABSLI Cancer Shield Plan is a cancer protection plan that offers adequate coverage against all the medical costs related to this life-threatening disease. The plan covers all minor as well as major stages of cancer along with the flexibility to choose the level or increasing coverage options. This product also offers a unique feature that acts as a blessing to the policyholders, i.e., an option to receive monthly income up to 5 years on the diagnosis of a major stage of cancer.

Eligibility Criteria

ii) ABSLI Hospital Plus Plan

ABSLI Empower Pension plan is a health plan that provides a fixed cash amount in case of any hospitalisation. It serves as a supplement to your health insurance policy and offers financial security to deal with the additional expenditure. It also covers the family members and provides extra benefits during hospitalisation due to an accident.

Eligibility Criteria

iii) ABSLI CritiShield Plan

ABSLI CritiShield Plan is a plan that helps an individual to save money against sudden health expenses for ailments related to heart and kidneys. These diseases are critical and demand higher expenditure than others. This plan takes care of the medical costs including hospital bills and diagnosis from time to time. It doesn't matter if the disease is in its minor or major stage, financial assistance is available at all times.

Eligibility Criteria

5. ABSLI Retirement Plans

ABSLI Retirement Plans also known as pension plans assist the policyholder in contributing towards his/her post-retirement savings. The pool of funds invested by you in these policies together with return on investments creates income for your retirement life. These plans give the freedom to choose the term or interval of receiving the income as per your needs.

A number of retirement plans are offered by ABSLI to its customers. Let us look into it:

i) ABSLI Empower Pension plan

ABSLI Empower Pension plan is a unit-linked non-participating retirement plan that helps in accumulating savings for the golden years of your life by gaining returns on investments. The plan offers vesting benefits along with death and surrender benefits. It is also liable to pay the guaranteed bonuses and reversionary bonuses (if any) to boost savings on an annual basis in the policy.

Eligibility Criteria

ii) ABSLI Immediate Annuity Plan

ABSLI Immediate Annuity Plan ensures security to the life assured by means of financial assistance in a lump sum amount just like the Employees Provident Fund (EPF). This plan helps in combining investments and savings to generate regular income payout post-retirement.

Eligibility Criteria

iii) ABSLI Empower Pension - SP Plan

ABSLI Empower Pension - SP Plan is a unit-linked non-participating pension scheme which provides you financial security for golden years of your life. It helps in building a corpus for retirement by earning returns on investments towards the policy. You will receive an amount equal to the fund value along with guaranteed additions (if applicable) as a vesting benefit on the vesting date of the policy.

Eligibility Criteria

6. ABSLI Savings With Protection Plans

ABSLI Savings With Protection Plans, popularly known as endowment plans allow the life assured to save through regular investments over a period of time so as to create a huge corpus to fulfil the various milestones of life. These plans also offer life insurance coverage and are for a limited premium payment term. The death benefits and maturity benefits are also payable under the plans.

Below-mentioned Savings With Protection Plans are offered by ABSLI:

i) ABSLI SecurePlus Plan

ABSLI SecurePlus Plan is a plan that offers guaranteed income benefit payouts at the end of each policy year after the policy tenure ends. The payouts are a predetermined percentage of annual paid premiums towards the policy. The plan comes out with an inbuilt accidental death benefit and offers various rider options to enhance life insurance coverage.

Eligibility Criteria

ii) ABSLI Vision MoneyBack Plus Plan

ABSLI Vision MoneyBack Plus Plan is a traditional savings cum protection plan that offers financial security by way of periodic payouts to meet major life goals. The plan also provides life insurance cover against the unfortunate demise of the policyholder. It offers liquidity facility and flexibility to choose a higher sum assured option as per requirements.

Eligibility Criteria

iii) ABSLI Vision LifeIncome Plan

ABSLI Vision LifeIncome Plan is a participating whole life policy which provides protection against financial needs to you and the family. In case of the unfortunate death of the policyholder, the plan is liable to pay a death benefit to the dependants so as not to face any lack of funds. The policy also offers a whole life insurance coverage up to 100 years.

Eligibility Criteria

iv) ABSLI Savings Plan

ABSLI Savings Plan provides regular income with the help of savings on the investment made towards the policy. The savings can lead to substantial growth over time by making on-time premium payments towards the plan. It also offers bonuses starting from the first policy year that further helps in boosting your savings. The policy pays an additional sum assured in the event of death due to an accident.

Eligibility Criteria

v) ABSLI Vision LifeSecure Plan

ABSLI Vision LifeSecure Plan offers long-term security for all your financial requirements in life. You can enjoy life insurance protection up to 100 years of age along with the flexibility to choose the policy term as per your needs.

Eligibility Criteria

vi) ABSLI Income Assured Plan

ABSLI Income Assured Plan is a savings plan that allows the policyholder to plan his/her long-term future goals financially. The plan allows the flexibility to choose from 2 options (monthly & a lump sum) to receive the assured income at the end of the premium payment term. The plan also provides a number of riders at nominal prices to enhance the existing coverage.

Eligibility Criteria

vii) ABSLI Vision Endowment Plus Plan

ABSLI Vision Endowment Plus Plan is a savings plus protection plan that safeguards the family financially against unforeseen circumstances. The plan offers a return of premiums along with maturity and death benefit in case of an unfortunate demise of the life assured. It also offers accrued regular bonuses and terminal bonus if applicable after the completion of the policy tenure.

Eligibility Criteria

viii) ABSLI Guaranteed Milestone Plan

ABSLI Guaranteed Milestone Plan is an endowment participating policy which provides guaranteed benefits on death and maturation of the policy. The plan comes with a joint life cover, where you as a policyholder is the 'primary life assured' and your spouse is the 'secondary life assured' under the policy. The applicable sum assured for the spouse is 20% of the basic sum assured.

Eligibility Criteria

ix) ABSLI - Jeevan Bachat Plan

ABSLI - Jeevan Bachat Plan is a savings plan that helps in creating a bigger corpus for life by means of accumulating small savings. The plan offers a life insurance coverage which is 10 times of the paid premiums in addition to tax benefits. The policy also helps in boosting the savings with guaranteed returns towards your investments.

Eligibility Criteria

x) ABSLI Monthly Income Plan

ABSLI Monthly Income Plan is a participating, non-linked life insurance plan that assists in the financial planning of the future with the help of returns on investments. The plan creates tax-free income and pays at regular intervals for retirement goals. It also adds simple reversionary bonuses on the maturation of the policy.

Eligibility Criteria

Why PolicyX.com Is the Best Choice to Buy Aditya Birla Sun Life Insurance Plans?

PolicyX.com is an online insurance web aggregator registered by the Insurance Regulatory and Development Authority of India (IRDAI). The following features are offered by us to our customers:

• We provide free online comparison quotes for various insurers.
• You can easily buy an appropriate plan according to your needs within 5 minutes from our portal.
• It is easy to navigate on our portal as it provides a simple process and gives access to information without much effort.

What Is the Claim Settlement Process for Aditya Birla Sun Life Insurance Plans?

1. Claim Intimation:

You can apply for the claim by visiting their official website. Follow the below steps:

• After visiting the official website of Aditya Birla Capital, click on the 'customer service' button given at the top of the page.
• Select 'claims' from the drop-down list.
• You can see a 'claim intimation' tab. Click on it.
• You need to provide basic details such as Policy Number and Date of Birth of the life assured and then click on 'next'.

**Note: Kindly, do not intimate any Rural/Health/Group/Hospital Care/Surgical Care Rider Claims through the website.

You can also apply for the claim via the following ways:

• E-mail at claims[dot]lifeinsurance[at]adityabirlacapital[dot]com
• Visit the claim department/nearest branch office.
• Call on the toll-free number at 1800-270-7000.

2. Documents Required For Claim Process:

The claimant needs to submit some mandatory documents along with the claim form to the insurance company. The documents to be submitted are as follows:

• Recent passport-sized photograph.
• Proof of identity such as passport, driving licence, pan card, aadhaar card, voter's identity card.
• Bank statement, cancelled cheque for bank account details of the nominee to transfer claim amount.

3. Claim Assessment:

The claims department will review and examine the claim form and submitted documents.

4. Claim Decision:

On successful verification by the insurer, the claim will be accepted. The payment will be made to the nominee's bank account. If the claim got rejected, the same will be communicated to the nominee with valid reasons.

Aditya Birla Sun Life Insurance Company: Contact Details

Contact Address: Registered Office: Aditya Birla Sun Life Insurance Company Limited, One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013.

Customer Support: Phone: 1800 270 7000 (Toll-free; within India); +91 22 66917777 (Outside India; call charges may apply) **Between 9 am to 9 pm, All 7 Days

E-mail: care[dot]lifeinsurance[at]adityabirlacapital[dot]com

For any escalations: complaints[at]BirlaSunindia[dot]com

Whatsapp:

• Step 1. Register: Register by giving a missed call on 7676690033 or SMS 'OPTIN' on 567679 from your registered mobile number.
• Step 2. Begin Chatting: Save the number 8828800040 as ABSLI contact and say 'Hi' to us on WhatsApp.

You can also connect with “Aditya Birla Capital Life Insurance Virtual Assistant” given on their official website.

Also, a locator is available on Aditya Birla's official website to get the nearest branch for a medical facility or alternate premium payment centre.