Aditya Birla Sun Life
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Bajaj Life

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Aditya Birla Sun Life vs Bajaj Life

Aditya Birla Sun Life

ABSLI, formerly known as Birla Sun Life Insurance Co. Ltd. started its operations on January 17th, 2001 in India. Aditya Birla Life Insurance has a revenue of Rs. 12,140.23 Crore and a claim settlement ratio of 98.07%.

Bajaj Life

Bajaj Allianz Life Insurance offers diverse range of insurance solutions including term insurance plans, ULIPs, retirement plans, saving plans, child plans and much more.

COMPANY DETAILS Edit Aditya Birla SunLife Insurance Page

Aditya Birla Sun Life

 Edit Bajaj Allianz Life Insurance

Bajaj Life
Rating
Number of life insurance plans and add-ons
Annual Premiums Collected (2023-24)

Annual Premiums Collected (2023-24)

15069.69 Cr

Annual Premiums Collected (2023-24)

461.43 Cr.
Payout Options

Payout Options

Lump sum, regular frequencies or a combination of both

Payout Options

Lump sum, monthly or a combination of both
Claim ratio

Claim ratio

98.12%

Claim ratio

99.29%
Solvency Ratio

Solvency Ratio

1.7

Solvency Ratio

3.59
Branches

Branches

1470+

Branches

544+
Riders Available

Riders Available

Comprehensive Critical Illness Rider, Waiver of Premium Rider, Accidental Death and Disability Rider, Critical Illness Rider, Accidental Death Benefit Rider Plus

Riders Available

Waiver of Premium Benefit Rider, Family Income Benefit Rider, Accidental Death Benefit Rider, Accidental Permanent Total/Partial Disability Benefit Rider, Critical Illness Rider
Policy Term

Policy Term

5 to 40 years

Policy Term

10 to 40 years

Know More About Companies

Overview

Aditya Birla Sun Life Insurance: Overview

Aditya Birla Sun Life Insurance Company or ABSLI, formerly known as Birla Sun Life Insurance Co. Ltd., started its operations in India on January 17th, 2001. The company is a joint venture between Aditya Birla Group, a global enterprise, and Sun Life Financial, one of Canada's top financial service organizations. It offers a range of products including wealth protection plans, health plans, retirement and pension solutions, children plans, unit-linked insurance plans (ULIPs), and traditional term plans. Aditya Birla Sun Life Insurance has a distribution network in over 500 cities with 560 branches and more than 140 partnerships with corporate agents, brokers, and banks. Moreover, Aditya Birla Life Insurance has a revenue of Rs. 15,069.69 Crore and a claim settlement ratio of 98.12% and managed to touch a substantial customer base of over 17 lakhs.

Aditya Birla Life Insurance ensures to look after your insurance needs by offering:

why-choose

  • Whole life comprehensive coverage

  • Affordable premiums

  • Monthly income option

  • Tax benefits

Riders

Riders You Can Avail With Birla Sunlife Life Insurance Plans

Name of the Riders Benefits
ABSLI Comprehensive Critical Illness Rider This rider offers additional benefits and protection against up to 64 critical illnesses mentioned in the brochure.
ABSLI Waiver of Premium Rider This rider waives future premiums if you are unable to pay in the event of financial difficulties.
ABSLI Accidental Death and Disability Rider Offers additional benefits in case of accidental death and accidental disability.
ABSLI Critical Illness Rider ABSLI Critical Illness Rider covers 4 major illnesses - first heart attack of specified severity, cancer of specified severity, stroke resulting in permanent symptoms, and major organ/bone marrow transplant.
ABSLI Accidental Death Benefit Rider Plus In the unfortunate event of the death of the life insured due to an accident, 100% of the rider sum assured is paid to the nominee.

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ABSLI, formerly known as Birla Sun Life Insurance Co. Ltd. started its operations on January 17th, 2001 in India. Aditya Birla Life Insurance has a revenue of Rs. 12,140.23 Crore and a claim settlement ratio of 98.07%.

Bajaj Allianz Savings Plan Plans

Bajaj Allianz Savings Plan

Birla sunlife fixed maturity plan

Birla sunlife fixed maturity plan

Aditya Birla Sunlife Fixed Maturity Plan is a non-linked, non-participating endowment product providing fully guaranteed benefits as a lump-sum on mat...

Unique Features

  • Tax Benefits u/s 80C & 10 (10D)
  • Single Premium
  • ZERO Withdrawal Charges

Birla sunlife fixed maturity plan (Pros)

Birla sunlife fixed maturity plan
  • Policy Loan
  • Surrender benefit
  • Guranteed maturity benefit

Birla sunlife fixed maturity plan (Cons)

Birla sunlife fixed maturity plan
  • Lack of Liquidity
  • Interest Rate Risk
  • Limited Flexibility

Birla sunlife fixed maturity plan (Other Benefits)

Birla sunlife fixed maturity plan
  • Enhanced Sum Assured
  • Tax benefit
  • Avail life cover

Birla sunlife fixed maturity plan (Eligibility Criteria)

Birla sunlife fixed maturity plan
  • Entry age-8 years
  • Sum assured- 15
  • 000 to no limit
  • Policy term-5 to 10 years
  • Premium payment mode- single pay
  • Maturity age-70 years

Bajaj Allianz Life Insurance offers diverse range of insurance solutions including term insurance plans, ULIPs, retirement plans, saving plans, child plans and much more.

Bajaj Allianz Life Investment Plans Plans

Bajaj Allianz Life Investment Plans

Bajaj Allianz Life POS Goal Suraksha Plan

Bajaj Allianz Life POS Goal Suraksha Plan

Bajaj POS Goal Suraksha Plan is a combination of a life insurance plan and a savings plan. It provides death benefits to your loved ones in case of yo...

Unique Features

  • Guaranteed additions
  • Limited payment term
  • Alter payment modes

Bajaj Allianz Life POS Goal Suraksha Plan (Pros)

Bajaj Allianz Life POS Goal Suraksha Plan
  • Guaranteed maturity benefit
  • Limited premium payment term
  • Option to take policy loan

Bajaj Allianz Life POS Goal Suraksha Plan (Cons)

Bajaj Allianz Life POS Goal Suraksha Plan
  • No pre-existing condition
  • No surrender benefit
  • No guranteed benefit

Bajaj Allianz Life POS Goal Suraksha Plan (Other Benefits)

Bajaj Allianz Life POS Goal Suraksha Plan
  • Return of premium
  • Death benefits in installments
  • Flexible policy term

Bajaj Allianz Life POS Goal Suraksha Plan (Eligibility Criteria)

Bajaj Allianz Life POS Goal Suraksha Plan
  • Minimum entry age- 18 years
  • Maximum entry age- 65 years
  • Minimum sum assured- 30 thousand
  • Maximum sum assured- 25 Lac
  • Maximum policy terrm- 67 years

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Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.

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