Birla Sun Life Term Insurance
  • Inbuilt Terminal Illness cover
  • Life cover till 100 Years
  • Premium Waiver
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Aditya Birla Sun Life Term Insurance Plans

Aditya Birla Sun Life Term Insurance plans are designed to secure your family's financial stability from life's unforeseen incidents. The term plans offered by Aditya Birla Sun Life Insurance are known to be suitable for long-term cover. These solutions have been introduced to meet the capital needs of the Life Assured's family after their death.

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Key Features of Aditya Birla Term Insurance

Before buying an Aditya Birla Term Insurance policy, it is important for you to know all the Aditya Birla term features. Not only will it help you to analyze the company's performance, but will also protect your family against any further stress at the time of claim settlement.

In the below section we have discussed the Aditya Birla term features. Take a look.

  • Annual Premium: The annual premium of the company showcases its growth in the past years. As per the IRDAI, the annual premiums of Aditya Birla Life Term Insurance company is Rs. 12,140.23 Crores.
  • Claim Settlement Ratio: The claim settlement ratio of the company showcases the company's claim settling ability of the insurance company. Aditya Birla Term Insurance holds a good and reliable claim settling process with a CSR of 98.07%. (Aditya Birla CSR as per IRDAI report of the year 2021-22).
  • Solvency Ratio: The solvency ratio of the company helps an individual ascertain the company's ability to meet its long-term financial obligations. The Solvency Ratio of Aditya Birla Life Insurance Company for 2021-22 is 1.88. As per the IRDAI, it is mandatory for every life insurer to maintain a solvency ratio of 1.5.
  • Operating Networks: The company is powered by 30,000+employees and has a nationwide reach with 1,000+ branches. Not just this, the company possesses more than 2,00,000 agents/channel partners, and several bank partners.
Aditya Birla Term Insurance Key Features

All You Need To Know About Aditya Birla Term Insurance? Find complete details in one go!

Aditya Birla Term Insurance PlansCheck Aditya Birla Term Permium Calculator Buying ProcessClaim Settlement Process

Benefits of Aditya Birla Term Insurance

  • Options in Death Benefit: The policyholders can choose for the nominees to receive the sum assured on death as a lump sum amount or in periodic instalments or as a combination of lump-sum amount and monthly income.
  • Choice of Premium Payment: Aditya Birla Term plan comes with the flexibility to choose from Single, Regular, or Limited premium payments.
  • Joint Life Cover: Buyers can now insure their spouses under the same life cover with ABSLI's term insurance solutions.
  • Numerous Plan Options: The plans offer scope for customization according to the potential financial requirements of the policyholder's family.
  • Enhanced Protection Through Riders: Riders can be availed for enhanced protection against accidental death, disability, hospital care, surgical care, terminal or critical illness etc.

Why choose ABSLI's Term Insurance Plans

The correct term insurance plan should be chosen carefully because your family's well being depends on it. Aditya Birla Term Insurance Plans provide comprehensive coverage and protection for you and your loved ones. Here are some reasons why you should consider ABSLI term plans:

  • Customizable plans: These term insurance plans can be customized to meet your specific needs and requirements. You can choose the amount of coverage, the duration of the policy, and the premium payment frequency that suits you the best.
  • Affordable premiums: Aditya Birla term plans are priced competitively, making them an affordable option for individuals looking for comprehensive coverage without breaking the bank.
  • Comprehensive coverage: ABSLI's term insurance plans offer comprehensive coverage against various risks such as death, disability, critical illness, and accidental death. You can select the level of protection that best suits your needs.
  • Flexibility: These term insurance plans offer flexibility in terms of premium payments and policy durations. You can choose to pay your premiums monthly, quarterly, half-yearly, or annually, and you can choose the duration of the policy that suits you the best.
  • Tax benefits: ABSLI's term insurance plans offer tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961. This means that the premiums paid towards your policy are eligible for tax deductions, and the death benefit received by your nominee is tax-free.
  • Reputation: ABSLI is a trusted name in the insurance industry, with a strong reputation for providing reliable and comprehensive insurance solutions to its customers. Choosing an ABSLI term insurance plan can give you peace of mind knowing that you and your loved ones are protected by a reputable insurer.
  • Easy claim settlement: ABSLI has a hassle-free claims settlement process, making it easier for your nominees to receive the death benefit in case of your unfortunate demise.

Aditya Birla Term Insurance Riders

Aditya Birla term plan offers a range of riders that can be added to their term insurance policies. Here are some of the riders provided by ABSLI:

  • ABSLI Accidental Death Benefit Rider: This rider provides an additional sum assured in case of death due to an accident.
  • ABSLI Critical Illness Rider: This rider provides a lump sum payment in case the insured is diagnosed with a critical illness.
  • ABSLI Waiver of Premium Rider: This rider waives off future premiums in case the insured suffers from a disability or critical illness.
  • ABSLI Hospital Care Rider: This rider provides daily cash benefits during hospitalization due to an illness or accident.
  • ABSLI Accidental Disability Rider: This rider provides a lump sum payment in case the insured suffers from a disability due to an accident.
  • ABSLI Surgical Care Rider: This rider provides a lump sum payment for medical treatments that require surgery.

Best Term Plans by Aditya Birla Term Insurance

ABSLI DigiShield Plan

The term plan offers coverage for 42 Critical Illnesses, along with the ability to enhance coverage through optional riders.

Unique Features

  • 6 Rider Options
  • Enhanced Life Stage Protection
  • Coverage Till 100 Years of Age

ABSLI DigiShield Plan (Pros)

  • ROP with Life Insurance Cover
  • Level Cover with Survival Benefit
  • Level Cover plus Income Benefit

ABSLI DigiShield Plan (Cons)

  • 48 Months WP for Critical Illness
  • 12 Months WP For Suicide Cover
  • No Coverage Beyond Critical Illness List

ABSLI DigiShield Plan (Other Benefits)

  • Sum Assured Reduction Cover
  • Inbuilt Terminal Illness Benefit
  • Spouse Cover under Joint Life Protection.

ABSLI DigiShield Plan (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 30 L
  • Maximum Policy Term - 55 years
  • Premium Payment Term- RP/SP/LP

ABSLI Saral Jeevan Bima

ABSLI's Saral Jeevan Bima is an affordable term plan that offers a lump sum amount to the nominee after the policyholder’s demise. It has a waiting period of 45 days .

Unique Features

  • Customization Options
  • Flexible policy terms
  • Affordable plan

Saral Jeevan Bima (Pros)

  • Available For Online Buying
  • Choose To pay Premium Once
  • Max Sum Assured 25L

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima (Other Benefits)

  • Suicide Cover
  • Spouse Cover
  • Policy Revival Within 5 Years

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - 70 Yrs
  • Premium Payment Term - RP/SP/LP (5&10 Years)

ABSLI Life Shield Plan

The plan offers multiple plan options, enhances coverage at key life stages and ensures financial security in the event of death or terminal illness.

Unique Features

  • Enhanced Life Stage Protection
  • Return of Premium Option
  • Inbuilt Terminal Illness Benefit

ABSLI Life Shield Plan (Pros)

  • Flexible Coverage Options
  • Joint Life Protection for Spouses
  • Terminal Illness Benefits with Premium Waiver.

ABSLI Life Shield Plan (Cons)

  • Limited Maturity Benefit
  • No Cover for Death Due to STDs
  • No Riders

ABSLI Life Shield Plan (Other Benefits)

  • Sum Assured Reduction Cover
  • Inbuilt Terminal Illness Benefit
  • Spouse Cover under Joint Life Protection

ABSLI Life Shield Plan (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 25 L
  • Maximum Policy Term - 85 years
  • Premium Payment Term - RP/SP/LP

ABSLI Anmol Suraksha Kawach

A simple plan that offers reasonably priced term insurance with a brief durational life cover. The plan offers death benefit, surrender benefit and tax benefits.

Unique Features

  • Transgender Insurance
  • Flexible Payment
  • 5-Year Life Cover

Anmol Suraksha Kawach (Pros)

  • Affordable Premium Rates
  • Customizable PT & SA
  • Tax Benefits Under Section 80c And 10(10d)

Anmol Suraksha Kawach (Cons)

  • Limited Maturity Benefit
  • No Policy Loan Allowed
  • No Policy Loan

Anmol Suraksha Kawach (Other Benefits)

  • Additional Riders
  • Death Benefit
  • Guaranteed Protection

Anmol Suraksha Kawach (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 5 L
  • Maximum Policy Term - 25 Yrs
  • Premium Payment Term - RP/SP/LP

ABSLI Poorna Suraksha Kawach

The plan includes death, survival benefits, 42 critical illnesses and has an inbuilt terminal benefit. There is a disability rider included, with multiple cover options.

Unique Features

  • Level Cover Option
  • Early Return Of Premium
  • One Time Exit Value

Poorna Suraksha Kawach (Pros)

  • Diverse Coverage Options
  • Premium Refund
  • Additional 6 Riders

Poorna Suraksha Kawach (Cons)

  • Limited Policy Term
  • No Policy Loan Allowed
  • No Maturity Benefit Under Some Options

Poorna Suraksha Kawach (Other Benefits)

  • Flexible-Premium Payment
  • Flexible Entry And Maturity Age
  • Protection Against Terminal Illness And CI

Poorna Suraksha Kawach (Eligibility Criteria)

  • Entry Age - 18 years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 30 L
  • Maximum Policy Term - 55 Yrs
  • Premium Payment Term- RP/SP/LP

Aditya Birla Term Insurance Premium Calculator

To calculate Aditya Birla Term Insurance Premiums, policyholders can turn to Aditya Birla Term Insurance Premium Calculator. It is an online tool that allows the policyholder to calculate their term plan premiums in advance.

Take a look below at some of the sample premiums of Aditya Birla Term plans:

ABSLI Life Shield Plan

Age (in years) 20 Years 30 Years 40 Years
Premium Payable 713.66 1,080.69 2,161.38

**Premiums payable by a non-smoker male, with a chosen sum assured of Rs 1 Crore with a policy term of 30 years

ABSLI Saral Jeevan Bima

Age (in years) 20 Years 30 Years 40 Years
Premium Payable 2,322.38 2,663.96 4,205.85

**Premiums payable by a non-smoker male, with a chosen sum assured of Rs 1 Crore with a policy term of 30 years.

How to Buy Aditya Birla Sun Life Term Insurance Plan?

Buying Aditya Birla Term insurance is an easy and hassle-free process. Follow the below steps and give the gift of protection to your loved ones:

  • Visit the official website of Birla Sun Life.
  • Click on Term Insurance Plans, following which you will be redirected to a new page.
  • Navigate to 'Term Insurance Plan by ABSLI' and click on 'Buy Online.
  • Fill in your details, & click on 'Get me a quick quote' to proceed.
  • Select the amount of life cover, the term of the plan, the premium paying term, the frequency of premium payment, and other relevant details.
  • Click on the 'Proceed' button at the bottom of the page to proceed with the application.
  • Next, make the payment using your credit or debit card.
  • Once the payment is received by the company, a copy of your insurance plan will be sent to you via mail.

How to File Claims at Aditya Birla Sun Life Term Insurance

Filing claims under the Aditya Birla Term policy is an easy process. One has the option to file their claims via:

Official Website

  • Visit the Birla Sun Life Insurance website, scroll to 'Customer Service' and click on 'Claims'.
  • Tap on the 'Claim Intimation Process' and enter the policy number and date of birth of the life insured.
  • Tap on the 'Next' button to proceed with filing the claim.
  • Fill out the claim form and attach the necessary documents.
  • Click on 'Submit' for the final submission.
  • On successful acceptance of the claim, the company will directly transfer the amount of the claim to the registered bank account.
  • In case the claim is rejected, the company shall inform the same via mail/call/text.

Email Service

Register your claim by sending mail with your policy number and documents to claims.lifeinsurance@adityabirlacapital.com

Offline Process

Visit the nearest branch office or call toll-free at 1800 270 7000 for claim-related queries or assistance.

Documents Required to Register a Term Insurance Claim

Listed below are the documents required to register for a term insurance claim.

  • Duly filled claim intimation form.
  • Death certificate issued by the local municipal body.
  • Cancelled cheque and photocopy of the passbook of the claimant.
  • Address proof and identity proof of the claimant/nominee.

Aditya Birla Sun Life Insurance: Contact Details

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.

care.lifeinsurance@adityabirlacapital.com

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

Aditya Birla Term Plans: FAQs

1. How can I track the status of my Birla Sun Life Term Insurance Plan application?

To track the status of your term life insurance plan application, visit the Policy Tracker page of Birla Sun Life. Next, enter your policy number, date of birth, mobile number and click on 'Submit' to track the status of your application.

2. What is the procedure for premium payment of Birla Sun Life Term Insurance online?

Pay the initial or renewal premium of your Birla Sun Life Term Insurance Plan by visiting the payment page of Birla Sun Life. Enter your application number and insured date of birth and click 'Next' to proceed. Confirm your selection and select the payment option to pay your premium via credit and debit cards online.

3. What is the procedure for renewing a policy offered by Aditya Birla Term Insurance?

The process of renewing the Aditya Birla Term Plan is as follows:

  • Login to the e-portal with the username and password
  • Pay the premium amount to renew your Aditya Birla term policy
  • Print the payment receipt

4. What is the cancellation process for Aditya Birla Term Plan?

Policyholders of Aditya Birla Term Insurance must bring all relevant policy documents, along with a duly filled surrender form at the nearest branch from your locations. If the surrender form is submitted before 3:00 PM, the surrender value will be calculated using the current market rates; otherwise, the next day's value will be applicable.

5. What is the grace period offered by Aditya Birla Term plans?

According to the Insurance Regulatory Authority of India (IRDAI), Aditya Birla Term Insurance allows a grace period of 30 days from the premium due date.

6. When is the right time to buy Aditya Birla Term Insurance plan?

It is best to purchase an Aditya Birla Term Insurance plan When you are young and in relatively good health. This will help you in getting a policy at a low-cost premium.

7. Can I customize my Aditya Birla term insurance policy?

Yes, these plans offer customization options to suit your specific needs. You can choose the policy term, sum assured, and additional riders as per your requirements.

8. What are the additional riders available with Aditya Birla's term insurance?

Aditya Birla term insurance provides various additional riders to enhance your coverage. Some common riders include:

  • Accidental Death Benefit Rider
  • Critical Illness Rider
  • Disability Rider
  • Waiver of Premium Rider

9. Is there a medical examination required to get ABSLI term insurance?

The requirement for a medical examination may vary based on factors such as age, sum assured, and the underwriting policy of the company. Generally, for higher sum assured or older applicants, a medical examination may be required.

10. What happens if I miss paying the premium for my Aditya Birla term insurance plan?

If you miss paying the premium within the grace period provided by the company, your policy may lapse or become inactive. It is crucial to pay premiums on time to ensure the continuity of your coverage.

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