Aditya Birla Sun Life Insurance
Incorporated in 2000, Aditya Birla Sun Life Insurance Company Limited is one of the leading insurance companies in India. This company is a joint venture between Sun Life Financial Incorporation and Aditya Birla Group. Over the years, Aditya Birla Sun Life Insurance has managed a nationwide distribution presence with its 370+ branches, 90,000+ direct selling agents, 13,000 employees, etc. As a part of Aditya Birla Capital Ltd, the insurance company offers a wide range of products that span a customer’s life cycle. You will find Term Insurance plans, Retirement plans, Health plans, Child Plans, Saving Plans, Unit Linked Insurance Plans (ULIPs), and even group insurance plans.
Aditya Birla Sun Life Term Insurance - At A Glance
| Characteristics | Specifications |
| Company Name | Aditya Birla Sun Life Insurance |
| Headquarters | Mumbai |
| Year of Establishment | 2000 |
| Company Type | Private |
| Parent Company | Aditya Birla Capital Ltd |
| MD and CEO | Kamlesh Rao |
| Number of Direct Selling Agents | 90,000+ |
| Number of Branch Offices | 900+ |
| Claim Settlement Ratio | 98.04% |
| No of policies sold (Up to 31st March 2021) | 2,58,069 |
| No. of lives covered (Up to 31st March 2021) | 17,17,906 |
| Sum assured (Up to 31st March 2021) | 202454.71 crore |
| First-year premium (Up to 31st March 2021) | 4564.26 |
Types of Aditya Birla Sun Life Insurance Plans
1. Aditya Birla Sun Life Term Insurance
Aditya Birla Sun Term Insurance is not only the most cost-effective but it also offers a substantial life cover for a period chosen by you. Term insurance plans by Aditya Birla Sun Life actually provide financial stability to the family members in case of the death of the policyholder.
i. ABSLI Life Shield Plan
ABSLI Life Shield Plan offers you and your family 8 different plan options so that they can manage their lives without any major hindrances.
Key Features:
- Different Plan Options: With Aditya Birla Sun Life Insurance Life Shield Plan, you can choose from eight different options that work the best according to your needs, requirements, and preferences.
- Spouse Cover: You can cover your spouse under this plan.
- Survival Benefit: Have an option to get Return on Premium (if you choose plan 7 or 8)
- Additional Benefit: This insurance policy has terminal illness benefit; if diagnosed with one then the company will pay 50% of the sum assured (max Rs. 2.5 crores) immediately and future premiums will be waived off
- Rider Options: There are many additional rider options available to enhance the insurance plan.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 18 years |
| Maximum age | 65 years |
| Policy term | 10 to 55 years |
| Premium frequency | Monthly, Quarterly, Half-yearly, Annually |
| Age at maturity (age last birthday) | 85 years |
| Sum assured | Minimum: Rs.25 lacs Maximum: No limit |
ii. ABSLI DigiShield Plan
Different people have different needs and that’s why DigiShield has a comprehensive plan. It offers 10 plan options that suit you the best.
Key Features:
- Different Plan Options: Aditya Birla Sun Life Insurance DigiShield Plan has ten options that you can choose to protect your loved ones.
- Survival Benefit: Can avail Survival benefit as a monthly income
- Whole Life Cover Option: Secure your life till you are 100 years old
- Additional Benefit: On diagnosis of accelerated critical illness, the sum assured will be paid on the first diagnosis.
- Rider Options: There are many additional rider options available to enhance the insurance plan at nominal costs.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 18 years |
| Maximum age | 65 years |
| Policy term | 5 to 55 years |
| Premium payment | Regular, Limited, Single Pay |
| Age at maturity (age last birthday) | 85 years |
| Sum assured | Minimum: Rs.30 lacs Maximum: No limit |
iii. ABSLI Saral Jeevan Bima
Saral Jeevan Bima ensures fulfilling the family’s goals and requirements in case of the holder’s death. This plan provides lump-sum payment.
Key Features:
- Flexible Payout option: Aditya Birla Sun Life Insurance Saral Jeevan Bima is a simple life insurance plan that provides your family a lump sum to ensure fulfillment of your family’s long-term goals and aspirations, in case of your absence.
- Premium Payment Options: Flexibility to pay a premium just once or for a limited period or throughout the Policy Term.
- Rider Options: Enhance your insurance coverage with Accidental Death Benefit Rider, on payment of additional premium.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 18 years |
| Maximum age | 65 years |
| Policy term | 5 to 40 years |
| Premium payment | Regular, Limited, Single Pay |
| Age at maturity (age last birthday) | 70 years |
| Sum assured | Minimum: Rs.5 lacs Maximum: Rs. 25 lacs |
2. Aditya Birla Sun Life Retirement Plans
Aditya Birla Sun Life’s pension plan covers your major expenses that arise post one’s retirement. It’s basically an insurance-led investment plan. Aditya Birla Sun Life plans help build a decent retirement corpus over a period of time to ensure your retirement is as comfortable as possible. Depending on your requirements and needs, you can withdraw the amount as a lump sum or as a fixed monthly income.
i. Aditya Birla Empower Pension Plan
It’s a hassle-free retirement plan that helps you in accumulating not just the premiums but also provides investment returns.
Key Features:
- Retirement + Investment: This pension plan is a unit-linked retirement plan. It is a pretty simple and hassle-free insurance plan that helps in accumulating premiums + investment returns for your post-retirement.
- Death Benefit: If the policy owner dies when the policy is active then Aditya Birla Sun Life Insurance will pay the nominee an assured amount (Guaranteed Death Benefit/Policy Fund)
- Guaranteed Additions: Aditya Birla Sun Life Insurance Empower Pension Plan has ‘Guaranteed Additions’ as a benefit to the policy. On the 6th anniversary and thereafter, 0.25% additional units will be added to the average policy fund value. From the 11th anniversary, it’s 0.35%.
- Withdrawal Policy: In this policy, one can make a partial withdrawal any time post-five-year anniversary. They can be done so only post the completion of the lock-in period. So it’s important to check one’s policy’s terms and conditions. And the amount can’t exceed more than 25% of the fund value.
- Flexibility according to life situations: Only 3 partial withdrawals are allowed throughout the entire policy term. It is allowed only against – Child’s higher education, Child’s marriage, treatment of critical illness of either self or spouse, and for the new house purchase/construction.
| Condition | Eligibility |
| Minimum age | 25 years |
| Maximum age | 70 years |
| Policy term | 5 to 30 years |
| Premium payment | Regular Pay |
ii. Aditya Birla Empower Pension – SP Plan
Aditya Birla Sun Life Insurance Empower Pension-SP Plan is a single premium plan. It was designed in such a way that the policy owner remains in control in his/her second innings.
Key Features:
- Guaranteed Additions: This pension plan has a ‘Guaranteed Additions’ benefit. Post the 6th year anniversary, Aditya Birla Sun Insurance will add additional units to the policy.
- Vesting Benefit: This SP Plan also offers Vesting Benefits to the base cover options chosen by the policyholder.
- Death Benefit: In case of death of the policyholder, the insurance company will pay a death benefit to the claimant.
- Tax Benefit: This plan also offers tax benefits under Section 80CCC and Section 10(10A) of the Income Tax Act, 19612.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 25 years |
| Maximum age | 70 years |
| Policy term | 5 to 30 years |
| Premium payment | Single Pay |
iii. ABSLI Saral Pension Plan
This pension plan offers guaranteed regular income post-retirement.
Key Features:
- No Medical: The policy owner doesn’t have to undergo a series of medical checkups.
- Death & Survival Benefit: Aditya Birla Sun Life Insurance Saral Pension offers Death and Survival Benefit according to the policy.
- Flexible Payouts: The policy owner has the flexibility to choose different types of payout options according to one’s needs and requirements.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 40 years |
| Maximum age | 80 years |
| Policy term | Whole Life |
| Premium payment | Single Pay |
| Age at maturity (age last birthday) | NA |
iv. ABSLI Guaranteed Annuity Plus Plan
This plan provides a guaranteed income for life which helps in enjoying one’s second innings of life.
Key Features:
- Deferred annuity option: Aditya Birla Sun Life Insurance Guaranteed Annuity Plus policy has a deferred annuity option for the policyholder. The person can build their regular income stream with a deferment period of up to 15 years.
- Different Plan options: This plan also offers multiple annuity options (There are at least 10 options for you to choose from!)
- Death & Survival Benefit: ABSLI Guaranteed Annuity Plus offers Death and Survival Benefit according to the terms in the policy.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 45 years |
| Maximum age | 90 years |
| Policy term | Whole Life |
| Premium payment | Single Pay |
| Age at maturity (age last birthday) | NA |
3. Aditya Birla Sun Life Health Insurance Plans
Aditya Birla’s Health Insurance comes in handy during such emergencies. These plans are designed in such a way that they will protect one’s finances that arise from rising medical costs while providing high coverage so that one can get treated easily without any worry.
i. ABSLI Cancer Shield Plan
With a rapidly changing lifestyle, it becomes super important to take care of one’s health and to secure our life. This plan covers every stage of cancer. So, you are financially secured and your savings are protected.
Key Features:
- Policy Benefits: In case of the diagnosis of early-stage of Cancer, the policy owner can claim 30% of the Sum Assured. The rest 70% can be claimed on the diagnosis of major stage/advanced stage. If unfortunately, the policy owner is diagnosed with major stage cancer on the first test itself then he/she can claim 100% of the sum assured.
- Premium Waiver Benefit: The plan offers Premium Waiver Benefit once the claim (diagnosis of early-stage) is approved. The premium will be waived off for 5 years or the remaining policy term (whichever is shorter)
- Income Benefit: If the claim of Major Stage Cancer is approved then the policyholder can opt for the Income Benefit option. Basically, the patient can get a monthly income that’s roughly equivalent to 1% of the Sum Assured.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 18 years |
| Maximum age | 65 years |
| Policy term | 5 to 50 years |
| Premium payment | Regular Pay |
| Age at maturity (age last birthday) | 85 years |
| Sum assured | Minimum: Rs.10 lakhs Maximum: Rs. 50 lakhs |
ii. ABSLI CritiShield Plan
If anyone compares their lifestyle in the early 2000s to now, they would come to one single observation – it has changed drastically. And with the rapidly changing lifestyle, cardiac and renal problems have increased tremendously. ABSLI CritiShield plan was designed to protect customers’ savings, give financial security by providing liquidity in case of medical emergencies. The health plan was specifically designed for heart and kidney ailments.
Key Features:
- Cardiac Benefit: This health insurance plan offers 30% of the sum assured as a payout when the policy owner has early-stage cardiac conditions. In case of major stage cardiac conditions, the company will pay 100% of the sum assured.
- Renal Benefit: The same goes for renal conditions; 30% of the sum assured on early-stage renal conditions and on major-stage renal conditions, the insurance company (ABSLI) will pay 100% of the sum assured to the policyholder.
- Premium Waiver Benefit: This health insurance policy also offers Premium Waiver Benefit once the claim for Early Stage Cardiac Condition or Early Stage Renal Condition has been approved. The premium is waived off for the next 5 years or the remaining policy term, whichever is lower.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 18 years |
| Maximum age | 65 years |
| Policy term | 5 to 50 years |
| Premium payment | Regular Pay |
| Age at maturity (age last birthday) | 85 years |
| Sum assured | Minimum: Rs.10 lakhs Maximum: Rs. 50 lakhs |
4. Aditya Birla Sun Life Child Plans
These Aditya Birla’s child insurance policies provide triple benefits namely insurance + investment + savings so that the child’s future is secured. ABSLI Child plans are aimed to secure the financial future of the child in case something unfortunate happens to the parents.
i. Aditya Birla Child’s Future Assured Plan
This child plan is an amazing life insurance + savings policy that offers to take care of all the important milestones in a child’s life – Education and Marriage.
Key Features:
- ABSLI Child’s future assured plan offers assured annual pay-outs that are fixed according to the sum assured in the policy.
- For the child’s wedding, you will receive a guaranteed lump sum payout at the end of the policy term. Note: The child’s age should be between 24 to 32 years to get the benefit.
- In case of an unfortunate demise of the policyholder, the death benefit will be paid to the claimant/nominee.
- This child plan also offers loyalty additions. Basically, if you have paid all your premiums then Aditya Birla Sun Life Insurance will add 20% at the end of each scheduled payout.
- The child plan gives Maturity Benefit at the end of the policy term.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 18 years |
| Maximum age | 65 years |
| Policy term | 10 to 29 years |
| Premium frequency | Monthly, Quarterly, Half-yearly, Annually |
| Age at maturity (age last birthday) | 75 years |
| Sum assured | Minimum: Rs.4 lakhs Maximum: No limit |
ii. Aditya Birla Sun Life Vision Star Plan
The Vision Star plan provides regular payouts required for financing a child’s education and securing its future with comprehensive financial protection.
Key Features:
- Death Benefit: In case of the unfortunate death of the policyholder during the policy term then a certain amount will be paid to the nominee.
- Assured Payout: This plan will start paying the assured amount which was predetermined at the start of the 5th year.
- Maturity Benefit: If the policyholder is alive at the end of the policy term then the company will pay an accrued bonus + terminal bonus.
- Additional Benefit: This plan also offers reduced paid-up benefits. If you discontinue paying premiums post two years, the policy won’t lapse. Instead, it will continue on a reduced paid-up basis.
| Condition (for Plan A) | Eligibility |
| Minimum age | 18 years |
| Maximum age | 55 years |
| Policy term | 16 to 23 years |
| Premium frequency | Monthly, Quarterly, Half-yearly, Annually |
| Age at maturity (age last birthday) | 75 years |
| Sum assured | Minimum: Rs.1 lakh |
5. Aditya Birla Sun Life Savings Plans
ABSLI’s endowment plans are designed to help an individual save for various life goals. So, the person can build and grow a corpus amount over a period and at the same time, get financial security in case of an unfortunate event.
As Aditya Birla Saving policy has dual benefits, the premium paid is divided to serve the dual function. A part of the premium will be used to build that corpus amount while the other part shall be used for the life cover. And in case of an unfortunate demise, the nominee will receive the payout in the form of the sum assured.
If the policyholder survives till the end of the policy term, then the person will get the entire sum assured + bonuses, if any.
i. ABSLI Assured Income Plus Plan
Assured Income Plus is not only a savings plan but it also provides a life insurance cover. And it guarantees an income for nearly 20 to 30 years.
Key Features:
- Death Benefit: ABSLI Assured Income plus plan offers Death benefit in case of demise of the policyholder.
- Survivor Benefit: In case the policy owner is well at the end of the policy term, then they are entitled to Survivor benefit according to the frequency chosen by them.
- Flexible Payouts: At the end of the policy term, the policy owner has an option and flexibility to get a lump sum instead of income benefits.
- Rider Options: The policyholder can opt for additional add-ons’ at a nominal cost (Riders)
- ABSLI Critical Illness Rider
- ABSLI Surgical Care Rider
- ABSLI Hospital Care Rider
- ABSLI Accidental Death Benefit Rider Plus
- ABSLI Waiver of Premium
- Returns On Investment: The policy offers guaranteed returns on investment.
- Income Benefit: ABSLI Assured Income Plus offers a long-term income for 20 to 30 years ensuring to fulfill your recurring expenses.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 7 years |
| Maximum age | 60 years |
| Premium payment | Regular Pay |
| Age at maturity (age last birthday) | 18 to 73 years |
| Sum assured | Minimum: Rs. 5.50 lakhs |
ii. ABSLI Vision LifeIncome Plus Plan
Vision LifeIncome Plus plan offers guaranteed regular income even when one is paying a premium. Additionally, this plan has life cover (until 100 years of age).
Key Features:
- Multiple Benefits: This Aditya Birla Sun Life Saving policy offers a triple benefit viz., Guaranteed regular income + life insurance + flexible bonus payout
- Life Cover: This saving policy offers a life cover up to age 100
- Rider Options: Additionally, one can enhance cover by opting for for riders benefit
- Survival & Maturity Benefit: Vision LifeIncome Plus plan provides Survival and Maturity benefits to the policyholder.
- Death Benefit: On the demise of the policyholder, the nominee can claim a Death benefit.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 30 days |
| Maximum age | 60 years |
| Premium payment frequency | Annual, Monthly |
| Age at maturity (age last birthday) | 18 to 85 years |
iii. ABSLI SecurePlus Plan
SecurePlus Plan secures your financial future by providing a stream of income.
Key Features:
- Flexible Options: The policy owner has the flexibility to choose from 2 Income Options
- Premium Payment Options: Additionally, the policyholder has the flexibility to choose the premium amount
- Death Benefit: In case of unfortunate death of the policyholder due to an accident, the nominee can claim an Accidental Death Benefit
- Tax Benefit: By opting for this saving plan, the policyholder can claim Tax Benefit under Section 80C, 80D, and Section 10(10D) of the Income Tax Act, 1961
- Survival & Maturity Benefit: One can claim Survival and Maturity benefit at the end of the policy term.
- Rider Options: The policy owner can enhance their riders’ base cover by opting for riders at a nominal cost. ABSLI Critical Illness Rider
ABSLI Surgical Care Rider
ABSLI Hospital Care Rider
ABSLI Waiver of Premium Rider - Additional Benefit: In case the policy owner discontinues paying premiums post 2 years then the policy won’t lapse. Instead, it will continue on a reduced paid-up benefit
| Condition (for Plan 1) | Eligibility |
| Minimum age | 4 years |
| Maximum age | 50 years |
| Premium payment | Regular Pay |
| Age at maturity (age last birthday) | 64 years |
| Sum assured | Minimum: Rs. 5.22 lakhs |
iv. ABSLI Guaranteed Milestone Plan
ABSLI Guaranteed Milestone plan helps you in planning your non-negotiable life goals by providing a guaranteed life cover and other financial benefits.
Key Features:
- Death Benefit: Guaranteed benefits on death or maturity
- Policy Benefit: One of the best benefits of the ABSLI Guaranteed Milestone Plan is that the sum assured is 15x Annualised Premium
- Guaranteed Additions: The plan also offers guaranteed additions post the lock-in period
- Spouse Cover: The policy owner can cover your spouse in the same policy
- Rider Options: Additionally, one can enhance their base cover by opting for riders
| Condition (for Plan 1) | Eligibility |
| Minimum age | 30 days |
| Maximum age | 60 years |
| Premium payment | Regular Pay |
| Age at maturity (age last birthday) | Minimum: 18 years |
| Sum assured | Min: Rs. 2,25,000 Max.: 15x Annualised Premium |
v. ABSLI Assured FlexiSavings Plan
Assured FlexiSavings Plan protects your financial goals by offering a guaranteed return and flexibility to unlimited withdrawals.
Key Features:
- Guaranteed Income: The policy promises a Guaranteed Annual Income after the lock-in period
- Loyalty Benefit: Additionally, ABSLI Assured FlexiSavings Plans offers a 5% Income Booster each year. Loyalty additions as per the policy terms.
- Additional benefit: The policyholder can avail 10% additional benefit on total premiums paid
- Survival & Maturity Benefit: The plan provides Survival and Maturity benefits to the policyholder.
- Death Benefit: On the demise of the policyholder, the nominee can claim a Death benefit.
- Rider Options: Enhance the cover by opting for riders’ benefits at a nominal cost.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 4 years |
| Maximum age | 60 years |
| Premium payment | Regular Pay |
| Age at maturity (age last birthday) | 18 to 86 years |
| Sum assured | Minimum: Rs. 5.50 lakhs |
vi. ABSLI Vision Money Back Plus Plan
Vision MoneyBack Plus is basically an insurance plan that will help you in providing regular income so that you and your family can meet your financial goals/requirements against any events.
Key Features:
- Income Benefit: Guaranteed regular payouts
- Flexibility payouts: Option to defer and enhance payouts
- Survival & Maturity Benefit: The plan provides Survival and Maturity benefits to the policyholder.
- Death Benefit: On the demise of the policyholder, the nominee can claim a Death benefit.
- Tax Benefit: By opting for this saving plan, the policyholder can claim Tax Benefit under Section 80C, 80D, and Section 10(10D) of the Income Tax Act, 1961
- Rider Options: Multiple riders for enhanced protection of the policyholder
| Condition (for Plan 1) | Eligibility |
| Minimum age | 13 years |
| Maximum age | 45 years |
| Premium payment frequency | Annual, Semi-annual, Quarterly, Monthly |
| Sum assured | Minimum: Rs. 1 lakh |
vii. ABSLI Vision LifeIncome Plan
This plan is a traditional one that offers a perfect mix of regular income and financial protection against any unfortunate events.
Key Features:
- Life Cover: Whole life cover up to age 100
- Income Benefit: Income for whole life
- Death Benefit: If the policyholder dies then the nominee can claim the sum assured as a death benefit.
- Premium Waiver Benefit: In case the policy owner is diagnosed with terminal illness then 50% of the sum assured (max. Rs. 2.5 crores) will be paid immediately and the remaining future premiums will be waived off.
- Premium Waiver Benefit: In case the policyholder suffers from a total or permanent disability then all the future premiums are waived off.
- Shorter Premium Term: Another feature of this saving plan is that one can opt for a short premium paying term.
- Spouse Cover: This plan offers Joint Life Protection which means you and your spouse are covered in this policy.
- Rider Options: There are many additional rider options available to enhance the insurance plan.
- Additional Benefit: The policyholder can enhance and increase the coverage according to life’s various stages such as marriage, childbirth, etc.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 18 years |
| Maximum age | 65 years |
| Policy term | 10 to 50 years |
| Age at maturity (age last birthday) | 80 years |
| Sum assured | Min: Rs. 25 lakhs Max: No limit |
viii. ABSLI Savings Plan
Rightly named, this savings plan will enable you to save regularly and help you in growing your savings so that you can meet your financial requirements.
Key Features:
- Guaranteed Additions: Guaranteed Additions of 40,000 will be added at the end of each policy year for the first 5 policy years
- Death Benefit: In case of the policyholder’s unfortunate demise then the predetermined death benefit will be paid to the claimant.
- Maturity Benefit: If the policy owner is well at the end of the policy term then they can enjoy the maturity benefit as per the policy.
- Bonus Benefit: The policy also offers regular bonuses starting from the first policy year
- Additional Benefit: Additionally, one can enjoy reduced paid-up benefits (if all the premiums are paid for at least 2 full policy years)
- Different Options: Flexibility to choose life cover & policy term
| Condition (for Plan 1) | Eligibility |
| Minimum age | 18 years |
| Maximum age | 50 years |
| Premium payment frequency | Annual, Semi-annual, Quarterly, Monthly |
| Age at maturity (age last birthday) | 70 years |
| Sum assured | Min.: Rs. 30,000 Max.: Rs. 10 lakhs |
ix. ABSLI Vision LifeSecure Plan
Vision LifeSecure plan provides long-term financial security and offers you the flexibility to choose your policy term.
Key Features:
- Bonus Benefit: The policyholder can enjoy regular bonuses from first year
- Death Benefit: In case of the policyholder’s unfortunate demise then the predetermined death benefit will be paid to the claimant.
- Maturity Benefit: If the policy owner is well at the end of the policy term then they can enjoy the maturity benefit as per the policy.
- Rider Options: Enhance the cover by opting for riders at a nominal cost. Accidental Death and Disability Rider, Critical Illness Rider, Surgical Care Rider, Hospital Care Rider, Accidental Death Benefit Rider Plus, Waiver of Premium Rider.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 30 days |
| Maximum age | 60 years |
| Premium payment | Regular Pay |
| Premium payment frequency | Annual, Semi-annual, Quarterly, Monthly |
| Sum assured | Minimum: Rs. 2 lakhs |
x. ABSLI Income Assured Plan
With the rising needs and financial requirements, these plans help you in not just meeting them but also providing some guaranteed returns.
Key Features:
- Policy Benefit: Receive monthly payout after the premium paying term
- Death Benefit: In case of the policyholder’s unfortunate demise then the predetermined death benefit will be paid to the claimant.
- Maturity Benefit: If the policy owner is well at the end of the policy term then they can enjoy the maturity benefit as per the policy.
- Guaranteed Additions: Guaranteed additions till maturity
- Tax Benefit: By opting for this saving plan, the policyholder can claim Tax Benefit under Section 80C, 80D, and Section 10(10D) of the Income Tax Act, 1961
- Rider Options: Enhance the cover by opting riders
| Condition (for Plan 1) | Eligibility |
| Minimum age | 8 years |
| Maximum age | 60 years |
| Premium payment | Regular Pay |
| Premium payment frequency | Annual, Semi-annual, Quarterly, Monthly |
| Sum assured | Minimum: Rs. 100,000 |
xi. ABSLI Vision Endowment Plus Plan
This plan provides comprehensive financial protection and offers secured savings.
Key Features:
- Death Benefit: In case of the policyholder’s unfortunate demise then the pre-determined death benefit will be paid to the claimant.
- Maturity Benefit: If the policy owner is well at the end of the policy term then they can enjoy the maturity benefit as per the policy.
- Bonus Benefit: Accrued regular bonuses will be paid according to the policy’s terms and conditions.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 30 days |
| Maximum age | 60 years |
| Premium payment | Regular Pay |
| Policy term | 10 to 40 years |
| Sum assured | Minimum: Rs. 100,000 |
xii. ABSLI Jeevan Bachat Plan
Jeevan Bachat’s plan not only boosts your savings but also offers guaranteed returns and life cover with tax benefits.
Key Features:
- Death Benefit: In case of the policyholder’s unfortunate demise then the pre-determined death benefit will be paid to the nominee.
- Accidental Death Benefit: In case of untimely death due to an accident then the nominee will not only get the amount from the death benefit but also from the Death benefit
- Guaranteed Additions: Guaranteed Additions are added to the policy every month till maturity only if all the premiums are paid.
- Additional Benefit: If the policy owner discontinues paying premiums after two years then the policy will not lapse. It will work on a Reduced Paid-up Benefits
- Maturity Benefit: The policy owner can enjoy the maturity benefits.
| Condition (for Plan 1) | Eligibility |
| Minimum age | years |
| Maximum age | 55 years |
| Premium payment | Regular Pay |
| Age at maturity (age last birthday) | 18 to 65 years |
| Sum assured | Min. Rs. 25,000 Max. Rs. 10 lakhs |
xiii. ABSLI Monthly Income Plan
The monthly Income plan assures monthly income, protects life goals, and offers bonuses at maturity.
Key Features:
- Death Benefit: In case of the policyholder’s unfortunate demise then the pre-determined death benefit will be paid to the claimant.
- Maturity Benefit: If the policy owner is well at the end of the policy term then they can enjoy the maturity benefit as per the policy.
- Bonus Benefit: Accrued regular bonuses will be paid according to the policy’s terms and conditions.
- Accidental Death Benefit:: Accidental Death benefit is provided in addition to the death benefit.
- Income Benefit: Monthly income post-lock-in period
- Rider Options: Enhance the cover by opting riders
| Condition (for Plan 1) | Eligibility |
| Minimum age | 18 years |
| Maximum age | 55 years |
| Premium payment | Regular Pay |
| Premium payment frequency | Annual, Semi-annual, Quarterly, Monthly |
| Sum assured | Minimum: Rs. 4 lakhs |
6. Aditya Birla Sun Life ULIP Plans
ABSLI ULIP plans provide dual benefits. It’s basically a two-in-one plan, it offers life insurance and an opportunity to invest in capital markets. You can customize your Aditya Birla Sun Life ULIP policy as per your needs and requirements. A portion of the premium will go for insuring the life while the other goes for investment.
i. ABSLI Wealth Infinia Plan
This policy will help you in building your legacy fund and provides a huge variety of plan options so that you can select the best that meets your requirements.
Key Features:
- Allocation & Mortality Charge: Allocation & Mortality Charge will be returned if all the premiums are paid
- Death Benefit: On the demise of the policyholder, Aditya Birla will pay the declared Death Benefit to the nominee
- Withdrawal Benefit: A withdrawal Facility is available for the policy owner.
- Additional Benefit: Wealth Boosters and Loyalty Additions
- Different options: The choice to pick from five Investment Strategies and sixteen Funds options
| Condition (for Plan 1) | Eligibility |
| Minimum age | 30 days |
| Maximum age | 65 years |
| Premium payment | Single, Regular Pay |
| Premium payment frequency | Annual, Semi-annual, Quarterly, Monthly |
| Sum assured | Minimum: Rs.14 lakhs Maximum: No limit |
ii. ABSLI Wealth Assure Plus Plan
Wealth Assure Plus enables in growing your wealth and protecting it against critical illness or total disability and death.
Key Features:
- Guaranteed unit additions: ABSLI wants to reward for policy continuance and that’s why promises Guaranteed unit additions.
- Death Benefit: On the demise of the policyholder, Aditya Birla will pay the declared Death Benefit to the nominee
- Maturity Benefit: At the end of the policy term, the policyholder will receive basic fund value + top-up fund value
- Surrender Benefit: This ABSLI ULIP offers surrender benefits. It means that one can easily surrender the policy in case of emergencies.
- Premiums Waived Off: In case of Critical Illness or Total Permanent Disability of the policy owner, all future premiums are waived off.
- Rider Options: One can enhance their policy by opting Riders at the nominal cost
- Allocation & Mortality Charge: Allocation & Mortality Charge will be returned if all the premiums are paid
| Condition (for Classic option) | Eligibility |
| Minimum age | 30 days |
| Maximum age | 55 years |
| Premium payment frequency | Annual, Semi-annual, Quarterly, Monthly |
| Age at maturity (age last birthday) | 18 to 75 years |
| Sum assured | Minimum: Rs.240,000 |
iii. ABSLI Wealth Max Plan
ABSLI Wealth Max is a single premium plan that provides financial security and offers good returns by investing in the market.
Key Features:
- Guaranteed unit additions: ABSLI wants to reward for policy continuance and that’s why promises Guaranteed unit additions.
- Death Benefit: On the demise of the policyholder, Aditya Birla will pay the declared Death Benefit to the nominee
- Maturity Benefit: At the end of the policy term, the policyholder will receive basic fund value + top-up fund value
- Surrender Benefit: This ABSLI ULIP offers surrender benefits. It means that one can easily surrender the policy in case of emergencies.
- Policy Benefit: The policyholder has to invest once to enjoy all the benefits of this plan.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 30 days |
| Maximum age | 70 years |
| Premium payment | Single Pay |
| Sum assured | 1.25/ 5/ 10x annual premium |
iv. ABSLI Wealth Secure Plan
ABSLI Wealth Secure plan is designed to help you maximize your savings and help you focus on your life goals.
Key Features:
- Guaranteed unit additions: ABSLI wants to reward for policy continuance and that’s why it promises Guaranteed unit additions.
- Death Benefit: On the demise of the policyholder, Aditya Birla will pay the declared Death Benefit to the nominee
- Surrender Benefit: This ABSLI ULIP offers surrender benefits. It means that one can easily surrender the policy in case of emergencies.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 30 days |
| Maximum age | 65 years |
| Age at maturity (age last birthday) | NA |
| Policy term | Whole Life |
v. ABSLI Fortune Elite Plan
This plan provides life insurance cover and opportunities to enhance your wealth.
Key Features:
- Policy term: The flexibility of choosing policy term
- Guaranteed unit additions: ABSLI wants to reward for policy continuance and that’s why it promises Guaranteed unit additions.
- Death Benefit: On the demise of the policyholder, Aditya Birla will pay the declared Death Benefit to the nominee
- Maturity Benefit: At the end of the policy term, the policyholder will receive basic fund value + top-up fund value
- Surrender Benefit: This ABSLI ULIP offers surrender benefits. It means that one can easily surrender the policy in case of emergencies.
- Withdrawal: Partial withdrawal is allowed to meet any emergency requirement.
| Condition (for Plan 1) | Eligibility |
| Minimum age | 30 days |
| Maximum age | 65 years |
| Policy term | 10 to 40 years |
| Sum assured | Minimum: Rs. 4 Lakhs |
vi. ABSLI Wealth Aspire Plan
Wealth Aspire Plan offers flexibility in protection and wealth accumulation.
Key Features:
- Guaranteed unit additions: ABSLI wants to reward for policy continuance and that’s why it promises Guaranteed unit additions.
- Death Benefit: On the demise of the policyholder, Aditya Birla will pay the declared Death Benefit to the nominee
- Maturity Benefit: At the end of the policy term, the policyholder will receive basic fund value + top-up fund value
- Surrender Benefit: This ABSLI ULIP offers surrender benefits. It means that one can easily surrender the policy in case of emergencies.
- Withdrawal: Partial withdrawal is allowed to meet any emergency requirement.
| Condition (for Classic Plan) | Eligibility |
| Minimum age | 30 days |
| Maximum age | 50 years |
| Premium payment | Regular Pay |
| Age at maturity (age last birthday) | 18 to 70 years |
| Sum assured | Minimum: Rs. 4 Lakhs |
What Are The Benefits And Features Of Aditya Birla Sun Life Insurance?
- Financial Security – Life is truly unpredictable and in unfortunate circumstances, it’s best to be prepared than sorry. One of the major benefits of life insurance is that it gives financial security and stability to one’s family.
- Tax Benefits – Policyholders can claim tax deductions under Section 80C of the Income Tax Act. The insurance premiums paid (up to Rs. 150,000) can be claimed.
- Variety of Riders – Aditya Birla Sun Insurance gives the policy owner to make its insurance policy more secure by allowing ad-on. One can purchase one or more additional riders with their plans and provide further protection to the dependents.
- Hassle-free Online Application – Purchasing an Aditya Birla Sun Life Term Insurance Plan is quite easy and hassle-free. One can easily compare different plans and choose the one that meets the requirements.
What Are The Rider Options Available Under Aditya Birla Sun Life Insurance?
To enhance your policy cover, one can opt for rider benefits. Each plan is different and may or may not offer this additional benefit. So, it’s important to check your policy plans first before making your final decision. Given below are some of the Rider Benefit options available under Aditya Birla Sun Life Insurance:
- ABSLI Accidental Death Benefit Rider Plus – Get additional coverage in case the policyholder dies due to an accident.
- ABSLI Accidental Death and Disability Rider – In case of an accident that is either death or total disability of the policyholder, the family gets additional coverage.
- ABSLI Critical Illness Rider – On diagnosis of certain specified critical illnesses, the policyholder gets a benefit amount on a lump-sum basis.
- ABSLI Surgical Care Rider – The policyholder will get a certain lump-sum amount to cover surgical expenses
- ABSLI Hospital Care Rider – In case of hospitalization, the policy owner gets some cash benefit, ICU benefit, and also some lump-sum amount for recuperating.
- ABSLI Waiver of Premium Rider – If the policyholder is permanently disabled because of accident or illness or specified critical illness then all future premiums will be waived off.
Exclusions Of Aditya Birla Sun Life Insurance That You Need To Know
- If the policyholder dies due to suicide within the first year of the insurance policy, then the company isn’t liable to pay the sum assured.
- Murder of the policy owner if the nominee was involved in the crime or the policyholder was involved in any criminal activity.
- Death because of influence of drugs or alcohol
- Demise due to partaking in adventurous sports or activities
- Death because of a natural disaster
- The policyholder passed away due to childbirth
- If the policy owner withhold any pre-existing health conditions and passed away because of the very same conditions, then the company isn’t liable to pay the sum assured
- Death due to terrorist attacks
How To Buy Aditya Birla Life Insurance Policy?
Buying a Sun Life Insurance plan is extremely simple.
- Go to the Aditya Birla Sun Life website.
- Add your personal information, cover amount, and policy term.
- Check your cover amount and add any other rider options.
- Select the payment mode and that’s it. Pay and you are covered.
Document Required:
For Age proof – Aadhaar card/Passport/Rental Agreement/Birth Certificate.
For Identity proof – PAN card/Aadhaar card/Passport/license, The Latest Medical certificate, if required
And income proof – salary slips/income tax returns
How To Make A Premium Payment?
Aditya Birla Sun Life Insurance has made it quite easy. It’s pretty hassle-free and can be done in just a few minutes.
Step 1: Go to the Aditya Birla website pay premium section.
Step 2: Fill in your details
Step 3: Select the payment option
Step 4: Pay the premium online
How You Can Claim Aditya Birla Sun Life Insurance?
Step1:
The nominee has to intimate the company by calling on their toll-free number or by writing an email at bsli.claims@birlasunlife.com along with necessary documents.
Step 2:
The team will check and review the documents.
Step 3:
The team will then let the nominee know of its decision and on acceptance, will receive the payment.
Documents Required To Make a Claim?
For Death Claim:
- Claim Form
- Original Policy Document
- Original/Attested Death Certificate
- Beneficiary’s current address proof
- Nominee’s photo ID proof
- Claimant’s bank statement canceled cheque, and printed Bank account number
Other Additional Documents:
- Medical certificate
- Hospital treatment certificate
- Employer’s certificate (for salaried individuals)
- Copy of Panchnama Report/FIR/Post Mortem Report
- Copy of Inquest Report/Police Final Report
Frequently Asked Questions
Before providing life insurance, the insurers carry out various processes, such as assessing risk factors, medical examinations, etc. After analyzing the health history, current health status, and future health risks, the premium rates are determined. In case the risks are greater, the premium rates go higher and vice versa.
In the event of the insured’s death, the nominee or dependents named by the policyholder at the time of purchase of life insurance receive a death benefit. This means that even if the death of the person (in whose name the policy is purchased) is caused by a health-related issue such as a COVID-19 outbreak, it will be covered under the policy.
No. Deaths caused due to the ‘Act of God’ are not covered under the life insurance plan.
The amount of life insurance you require is determined by your lifestyle, spending habits, income, and the objective for which you wish to save. For instance, if you want to save for your child’s education, you need to consider the associated financial liabilities and then determine the amount of your life insurance.
The amount of life insurance you require is determined by your lifestyle, spending habits, income, and the objective for which you wish to save. For instance, if you want to save for your child’s education, you need to consider the associated financial liabilities and then determine the amount of your life insurance.
Once your premium is past due, you normally get a grace period (of up to 15 or 30 days) to pay it. If you do not pay your premium after the grace period, your insurance will become void and you will be unable to avail of any benefits. You can, however, reinstate your coverage if you pay all of your past-due payments, subject to certain terms and conditions.
Yes. You need not pay any tax on the maturity of your life insurance policy. The amount you will receive as a maturity benefit will be subjected to tax deductions under the Income Tax Act, 1961.
Life Insurers
- Aditya Birla Sun Life Insurance
- Aegon Life Insurance
- Aviva Life Insurance
- Bajaj Allianz Life Insurance
- Bharti Axa Life Insurance
- Canara HSBC OBC Life Insurance
- Edelweiss Tokio life Insurance
- Exide Life Insurance
- Future Generali Life Insurance
- HDFC Life Insurance
- ICICI Prudential Life Insurance
- Ageas Federal Life Insurance
- Indiafirst life Insurance
- Kotak Mahindra Life Insurance
- Life Insurance Corporation of India
- Max Life Insurance
- PNBMetlife India Insurance
- Pramerica Life Insurance
- Reliance Nippon Life Insurance
- SBI Life Insurance
- TATA AIA Life Insurance
