Birla Sun Life ULIP Plan
Birla Sun Life ULIP Plans
  • Partial Withdrawals Options
  • Several Options For Funds
  • Tax Benefits Under 80C
PX step

#Virukipolicy | T&C*

Free Quotes From Top Companies

1

2

D.O.B
Income
| Gender

1

2

Phone No.
Name
City

By proceeding you are accepting our T&C and privacy policy

I am ok to bypass suitability analysis and wish to proceed further

Birla Sun Life ULIP Plans

Established in 2000, Birla Sun Life Insurance Company is a joint venture between Sun Life Financial Inc & Aditya Birla Group. Both the companies smartly came into a partnership to target the insurance market with a trained workforce and a noble idea in mind- to take customer satisfaction to a new level. And boy, they have converted their idea into actions with a loud bang. Today, all the other insurance companies want to be like Birla and demand to know its secret ingredient to success. Honestly, most of the credit of Birla Sun Life’s success goes to its insurance products, especially ULIP plans.

For the past few years, the ULIP plans offered by Birla has led the company to the frontline with a broad chest and hope for success in its eyes. Its customers have grown exponentially and they truly love every single part of its ULIP plans. Not to brag but till now, no other insurance provider is able to match the convenience & benefits of Birla Sun Life ULIP plans. That says a lot about the company and its products. It’s fair to say that we should jump into the explanation of Birla Sun Life ULIP plans after advertising so much about it. So, let’s have a look at them.

Types of Birla Sun Life ULIP Plans

1. ABSLI Wealth Max Plan

The only way to fight an unpredictable future is via a bucket full of savings. This plan can help you with that. You just need to invest once and the plan will build up your investments from scratch.

Benefits

  • Emergency has a bad habit of coming without notice. It is a good thing that this plan allows you to make partial withdrawals to look after your expenses.
  • In case you decide to continue this policy, additional units/top-ups will be waiting to welcome you.

Eligibility

FactorsEligibility
Minimum entry age30 days
Maximum entry age70 years
Minimum maturity age18 years
Maximum maturity ageNA
Policy term5, 10, 15 & 20 years

2. ABSLI Wealth Secure Plan

In order to boost your long term savings, you need a reliable partner with you. This policy will be happy to comply. Apart from designing a financially secure future for you, it offers life coverage that comes in handy.

Benefits

  • 3 investment/fund options are available for you to choose from. Whichever strikes your need the most should be your companion.
  • By paying regular premiums, you will get tax benefits with a little help from the Income Tax Act, 1961.

Eligibility

FactorsEligibility
Minimum entry age30 days
Maximum entry age65 years
Policy termWhole life
Premium payment termEntry ages (30 days-44 years): 5-30 years
Entry ages (45 years-60 years): 8-30 years
Entry ages (61 years-65 years): 10-14 years

3. ABSLI Wealth Assure Plus

Financial planning is an important part of your future. You look for trusted investments that can increase & safeguard your finances which will ultimately lead you to a relaxing future. This plan can lay the groundwork for the same without breaking a sweat.

Benefits

  • If you require additional protection, you can choose among the two riders offered by this policy- ABSLI Accidental Death Benefit Rider Plus & ABSLI Waiver of Premium Rider.
  • Like a good policyholder, you just have to pay the premiums on-time to grab tax benefits.

Eligibility

FactorsEligibility
OptionsClassicAssured
Minimum entry age30 days18 years
Maximum entry age55 years50 years
Minimum maturity age18 years33 years
Maximum maturity age75 years65 years
Premium payment frequencyMonthly, quarterly, half-yearly & annual

4. ABSLI Fortune Elite Plan

Your future generations need money to survive and your investments can help them with that. But what good are those investments if they aren't protected? This plan guarantees the safety of your hard-earned savings and also, lays down plans for you to meet your financial goals.

Benefits

  • 4 premium payment terms are at your disposal. Check your need, budget and go with the one that satisfies both of the factors.
  • In order to meet the financial loss of an emergency, the plan allows you to withdraw money without any hassles. This is also called partial withdrawals.

Eligibility

FactorsEligibility
Premium payment term5 years10/15/20 years
Minimum entry age30 days
Maximum entry age55 yearsUp to 65 years
Minimum sum assuredRs.4,00,000

5. ABSLI Wealth Aspire Plan

Saving money without guidance is not everyone’s cup of tea. That’s where this plan comes into play. It will give you step by step assistance to increase your wealth.

Benefits

  • One of the best things about this plan is its flexibility. Meaning, it will provide you with several options for funds, premium payment, policy term, etc. You can make a decision while keeping your needs in mind.
  • You can easily claim tax benefits by paying premiums of this policy on-time.

Eligibility

FactorsEligibility
OptionsClassicAssured
Minimum entry age30 days18 years
Maximum entry age5 years premium term- 50 years
6-7 years premium term- 55 years
8 years & above premium term- 65 years
5-8 years of premium term- 45 years
9 years & above premium term- 50 years
Minimum maturity age5-7 years of premium term- 18 years
8 years & above premium term- 18 years
28 years
Maximum maturity age5-7 years of premium term- 70 years
8 years & above premium term- 75 years
60 years
Minimum Sum AssuredRs.4,00,000

Claim Process of Birla Sun Life ULIP Plans

Were you ever stuck in a situation where you faced difficulty in applying for a claim? It’s frustrating, isn’t it? There are a few companies in the market who have a complicated claim process. Honestly, you buy a policy to get the claim in the time of need. At that point, you are already frustrated and don’t want additional tensions while going through the claim process. Luckily, Birla Sun Life understands your logic and has designed a simple process to apply for a claim.

For an online claim process, you have to send an email with your policy number & birth date to care.lifeinsurance@adityabirlacapital.com. If you are an old school, you can visit Aditya Birla’s nearest branch and approach the claims department.

Along with the above steps, you have to submit a few important documents as well. They are divided into two categories:-

Required Documents in Case of Death-

  • Photocopy of death certificate attested by the authorized person in the branch.
  • Claim form.
  • Policy document.
  • Medical attendant’s certificate.
  • Photocopies of medical reports of previous hospitalizations (if any).
  • Any other document needed for the claim.

Required Documents in Case of Accidental Death Claim-

  • First information report.
  • Post-mortem report.
  • Police inquiry file.

If the claim is accepted, you will receive the payment via NEFT. If it is rejected, you will get the reason for the same.

Birla Sun Life ULIP Plans Review

With a strong legacy, excellent claim settlement ratio (97.15%) & well-trusted ULIP plans, it is safe to say that Birla Sun Life Insurance Company will not break your heart. You can place your bet on it to safeguard your financial future.

Birla Sun Life ULIP Plans: FAQs

Yes, you have to submit the following (letter of request, rider premium, illustration & insurability certificate) to add a rider to your ULIP Plan.

You can compare your ULIP’s returns with the peer group & the fund’s benchmark.

The premiums you pay for ULIP Plans are invested in different fund options which are market-linked and can have a major impact on the short-term returns. However, long-term returns are not that affected. So, it is safe to use a ULIP to fulfill your long-term goals.

- / 5 ( Total Rating)

Last updated on 30-01-2020