Birla Sun Life Insurance – Buy/Renew, Compare Plans, Premium & Benefits

Aditya Birla Sun Life Insurance Company Limited (ABSLI) which was formerly known as Birla Sun Life Insurance Company Limited was established in the year 2000. The company is a life insurance subsidiary of Aditya Birla Capital Limited. ABSLI was started by coming together of Aditya Birla Group, Indian multinational conglomerate and Sun Life Financial Inc., a leading Canada based international financial services organisation. Aditya Birla Sun Life Insurance Company is one of the leading private life insurers in India that offers a wide range of products to cater to the needs of various customer segments. Product offerings include term plans, savings plans, child plans, retirement plans and health plans that can help people achieve their various life goals.

Important Facts about Aditya Birla Sun Life Insurance Company

Following are the important facts to note about the company –

• Assets under management of the company as on 30th September 2019 is INR 4, 31,875 million with 16 lakhs + active customer base
• ABSLI makes insurance accessible for people with its wide presence across the nation. It has 397 branches, 6 distribution channels, 8 bancassurance partners and 82,000 + direct selling agents and brokers.
• The company has received ‘Successful Performance’ for 4 years April 2005 award by The Indo-Canadian Business Chamber
• The company has received ‘Best Life Insurer (Runner Up) 2004 award from Outlook Money Awards 2004

Benefits of Birla Sun Life Insurance Plans

Birla Sun Life offers a variety of insurance and investment products loaded with a variety of benefits and features. Following are the benefits of Birla Sun Life insurance plans –

• Comprehensive protection: The plans provide financial protection to the family of the insured in the event of uncertainties and ensure their life goals are achieved without hassles.
• Wealth creation: Be it for children’s education, marriage or for retirement life or for a dream vacation, Birla Sun Life plans help in building a corpus to achieve many long-term goals.
• Customisation:Birla Sun Life insurance plans come with customisable features, additional optional riders to enhance the coverage depending on the risk-taking ability and need of an individual.
• Tax benefits: Premium paid for most for the life insurance plans qualifies for tax deduction under Section 80C of the Income Tax Act. Lump-sum benefits paid out from the policies are exempted from tax under Section 10 (10D) of the Income Tax Act. Health plans provide tax benefits under Section 80D of the Income Tax Act.

Types of Life Insurance Plans Offered by Birla Sun Life Insurance

Birla Sun Life offers a variety of plans for protection and investment with many customisable benefits. Following are the category of life insurance products offered by the company –

• Term Insurance Plans
• Wealth with Protection Plans
• Child Plans
• Health Plans
• Retirement Plans
• Savings with Protection Plans

Let’s learn each plan offered in all of the categories. 

Birla Sun Life Term Insurance Plans

Term insurance plans offered by Birla Sun Life provides financial coverage to the policyholder in the event of an untimely demise during the policy period. Term life insurance policies are meant to provide protection for a specific period of time. In this uncertain world, with term insurance plans one can ensure future financial stability for the family and loved ones. Following are the various term insurance plans offered by Birla Sun Life Insurance Company –

1. ABSLI DigiShield Plan

ABSLI DigiShield plan is a non-linked non-participating life insurance plan that provides financial protection to the family of insured in an unforeseen situation during the policy term. The plan comes with customisable features which can be done according to the needs of an insured and his/her family. 

Features of ABSLI DigiShield Plan

• Complete financial protection and customisable coverage at an affordable cost
• Flexibility to choose the coverage from two plan options – level term assurance and increasing term assurance
• The policy offers Joint life cover wherein spouse can be included under the same policy
• Coverage can be enhanced at key stages of life
• Multiple payout options to receive death benefits
• The policy offers inbuilt terminal illness benefit
• Flexible premium paying terms
• Coverage can be enhanced with additional riders 

Eligibility Criteria for ABSLI DigiShield Plan

Entry age	18 years to 65 years
Maturity age	85 years
Policy term	5 years to 50 years
Premium paying term	The plan I – single pay/regular pay (same as policy term)/limited pay 5,7,10,15,20,25,30 years till 60 years of age, Plan II – single pay/regular pay (same as policy term)/limited pay 5 or 7 years
Sum assured	INR 30,00,000 to No limit
Premium payment frequency	Yearly/Half-yearly/Quarterly/Monthly

2. ABSLI UltimaTerm Plan

ABSLI UltimaTerm Plan is a non-linked non-participating term insurance plan offered to provide complete protection to the insured’s family against future uncertainties. This is an affordable plan that keeps the family’s financial position stable and helps in achieving key milestones of life.

Features of ABSLI UltimaTerm Plan

• Death benefit (sum assured) will be payable to the beneficiary on the untimely demise of the life assured during the policy term
• The policy offers inbuilt terminal illness benefit
• The option of coverage enhancement at key milestones of life
• Multiple payout options to receive the death benefit depending on the needs
• Flexible premium payment term
• Coverage can be enhanced with additional optional riders offered

Eligibility Criteria for ABSLI UltimaTerm Plan

Entry age	18 years to 65 years
Maturity age	85 years
Policy term	Limited pay – 10 years to 50 years, Regular pay – 5 years to 50 years
Premium paying term	Limited pay – 5 years, Regular pay – Same as the policy term
Sum assured	INR 1 Cr to no limit
Premium payment frequency	Yearly/Half-yearly/Quarterly/Monthly

3. ABSLI Income Shield Plan

ABSLI Income Shield plan is a non-linked, non-participating term insurance plan that offers a financial shield to the insured’s family against income loss during an unforeseen situation like death. The policy ensures the regular income is not affected due to any uncertainties of life.

Features of ABSLI Income Shield Plan

• Complete financial protection cover specifically designed for salaried individuals and entrepreneurs at an affordable cost
• Flexibility to choose from four different plan options 
• EVA benefit which is exclusively designed for female
• The policy offers the option for waiver of premium in case of critical illness or total permanent disability
• Multiple riders to enhance the coverage

Eligibility Criteria for ABSLI Income Shield Plan

Entry age	18 years to 65 years
Maturity age	75 years
Policy term	10 years to 40 years
Income benefit term	10 years to 20 years
Premium paying term	Limited pay – 10 years, Regular pay – 6 years
Sum assured	INR 5,00,000 to no limit
Premium payment frequency	Yearly/Half-yearly/Quarterly/Monthly

4. ABSLI Life Shield Plan

ABSLI Life Shield plan is a non-linked non-participating term insurance plan that offers flexible coverage options to suit the diverse insurance needs of people. The policy comes with many customisable features which secure the insured family in the event of uncertainties depending on their needs.

Features of ABSLI Life Shield Plan

• Flexibility to choose the coverage from 8 different plan options available
• The policy offers enhancement of coverage at various key milestones of life
• Joint life cover which allows a spouse to be included under the same policy
• Plan 7 and 8 options offer a return of premium
• Inbuilt terminal illness benefit
• Multiple payout options to receive a death benefit
• Multiple rider options to enhance the coverage

Eligibility Criteria for ABSLI Life Shield Plan

Entry age	18 years to 65 years
Maturity age	80 years
Policy term	For Plan 1,2,3,4,5 and 6 – 10 years to 50 years, For plan 7 and 8 – 20 years to 50 years
Premium paying term	Single pay, Limited pay – 6, 8 years, Regular pay -same as the policy term
Sum assured	INR 25,00,000 to no limit
Premium payment frequency	Yearly/Half-yearly/Quarterly/Monthly

Birla Sun Life Wealth with Protection Plans

Wealth and protection plans offered by Birla Sun Life are two-in-one plans that bring the best of both investment and insurance world. Basically, these are the unit-linked insurance plans (ULIPs) that are designed in a customisable way to suit the varying needs of people and their risk-taking ability. Let’s take a look at various ULIP plans offered by Birla Sun Life.

1. ABSLI Wealth Max Plan

ABSLI Wealth Max is a single premium unit-linked insurance plan that offers financial protection to the insured’s family and the potential good returns from market investments. 

Features of ABSLI Wealth Max Plan

• One-time payment to reap the benefit for the whole term
• Top-up facility to enhance the investment
• The flexibility of switches and partial withdrawals to meet the emergency liquidity needs
• Guaranteed additions from 6th policy year onwards
• Flexibility to choose from two different investment options – systematic transfer option and self-managed option with 16 different segregated funds to choose from

Eligibility Criteria for ABSLI Wealth Max Plan

Entry age	30 days to 70 years
Maturity age	18 years to 70 years
Policy term	5,10,15 and 20 years
Premium paying term	Single pay
Basic Premium	For policy term 5 and 10 years – Minimum INR 1,00,000, For policy term 15 and 20 years – Minimum INR 2,00,000
Sum assured	1.25, 5 or 10 times the basic premium

2. ABSLI Wealth Secure Plan

ABSLI Wealth Secure plan is a unit-linked insurance plan that can be customised according to investor’s needs, risk profile and life goals. The plan offers long-term savings opportunity, wealth creation and whole life coverage. 

Features of ABSLI Wealth Secure Plan

• The policy comes with limited-term premium payment with whole life coverage benefit
• Flexibility to choose from 3 investment options match the diverse investment needs – life cycle, systematic transfer and self-managed (with 16 segregated funds)
• Partial withdrawals to meet liquidity needs
• Top-up facility to enhance the investment amount

Eligibility Criteria for ABSLI Wealth Secure Plan

Entry age	30 days to 65 years
Policy term	Whole life
Premium paying term	entry age below 45 years – 5 years to 30 years, entry age 45 years to 60 years -8 years to 30 years, entry age 61 years to 65 years – 10 years to 14 years
Basic Premium	For yearly /half-yearly mode – Minimum INR 30,000 p.a., For quarterly/monthly mode – Minimum 60,000 p.a.
Sum assured	10 times the annualised premium
Premium payment frequency	Yearly/Half-yearly/Quarterly/Monthly

3. ABSLI Wealth Assure Plan

ABSLI Wealth Assure plan is a non-participating unit-linked insurance plan that offers the benefit of protection against death, critical illness and total permanent disability along with generating good returns on investment. The policy comes with many customisable features to suit the various insurance and investment needs of people.

Features of ABSLI Wealth Assure Plan

• Flexibility to choose from two different plan options for protection needs – classic and assured option
• Flexibility to choose from four different investment options to maximise the investment – smart investment, systematic transfer, return optimiser and self-managed investment option
• The benefit of MNC fund in the investment portfolio

Eligibility Criteria for ABSLI Wealth Assure Plan

Entry age	Classic plan – 30 days to 55 years Assured plan – 18 years to 50 years
Policy term	Classic plan – 18 years to 75 years Assured plan – 33 years to 65 years
Basic Premium	Minimum INR 24,000 p.a.
Sum assured	10 times the annualised premium
Premium payment frequency	Yearly/Half-yearly/Quarterly/Monthly

Policy term	Premium paying term
15 years	10 years	15 years	–
20/25/30/35 years	10 years	15 years	20 years

4. ABSLI Fortune Elite Plan

ABSLI Fortune Elite plan is a unit-linked insurance plan that offers the benefit of wealth preservation and enhancement along with life protection. Basically, the plan aims to protect insured and insured’s family during uncertainties along with preserving the accumulated wealth.

Features of ABSLI Fortune Elite Plan

• Guaranteed additions on 10th policy anniversary and every 5 years thereafter
• Protection benefits along with the flexibility to choose policy term and premium paying terms
• Flexibility to choose from 3 different investment options – systematic transfer, return optimiser and self-managed option
• Coverage can be customised with ABSLI accidental death benefit rider plus and ABSLI waiver of premium rider
• Top-up facility to boost the investment

Eligibility Criteria for ABSLI Fortune Elite Plan

Entry age	30 days to 65 years
Maturity age	75 years
Policy term	10,20,25,30,35 and 40 years
Premium paying term	5,10,15 and 20 years
Basic Premium	Minimum INR 40,000 p.a.
Sum assured	10 times the annualised premium
Premium payment frequency	Yearly/Half-yearly/Quarterly/Monthly

5. ABSLI Wealth Aspire Plan

ABSLI Wealth Aspire Plan is a unit-linked insurance plan that offers the benefit of financial protection against uncertainties and wealth creation for long-term goals of life. 

Features of ABSLI Wealth Aspire Plan

• Flexibility to choose from four investment options
• Two plan option to choose the coverage
• Flexibility to choose the premium paying terms and policy terms
• Top-up facility to boost the investments
• Partial withdrawal to meet the emergency liquidity requirements

Eligibility Criteria for ABSLI Wealth Aspire Plan

Entry age	Classic option – 30 days to 65 years Assured option – 18 years to 50 years
Maturity age	Classic option – 18 days to 75 years Assured option – 28 years to 60 years
Policy term	10 years to 40 years
Premium paying term	5 years to 40 years
Sum assured	10 times the annualised premium
Premium payment frequency	Yearly/Half-yearly/Quarterly/Monthly

Birla Sun Life Child Plans

Child insurance plan offered by Birla Sun Life helps the investor secure their child’s future against the uncertainties of life. Child plan ensures child’s life milestones are achieved by providing financial stability.

1. ABSLI Vision Star Plan

ABSLI Vision Star plan helps to build a sufficient corpus for child’s future financial needs such as for higher education or for exploring career options. The policy also comes with adequate life protection in the event of uncertainties.

Features of ABSLI Vision Star Plus

• Waiver of the premium facility in case of policyholder death
• Comprehensive financial protection to the family in the event of death along with growth to your savings.
• Regular bonuses and terminal bonuses on maturity 

Eligibility Criteria of ABSLI Vision Star Plus

Entry age	18 years to 55 years
Maturity age	75 years
Policy term	For option A – 16 years (maximum of 23 years) For option B – 14 year (Maximum of 21 years)
Premium paying term	5 years to 12 year
Sum assured	INR 1,00,000
Premium payment frequency	Yearly/Half-yearly/Quarterly/Monthly

Birla Sun Life Health Plans

Health insurance plans offered by Birla Sun Life helps to cover the medical or surgical expenses of an individual. Health plans are an important necessity to have a financial backup against the uncertainties. There are various health plans offered by Birla Sun Life.

1. ABSLI Cancer Shield Plan

ABSLI Cancer Shield Plan is a traditional non-participating health insurance plan that is specifically designed to provide a shield against cancer by covering all stages of cancer. Considering the rising medical inflation and increasing rate of lifestyle diseases, it’s important to be financially prepared for medical uncertainties.

Features of ABSLI Cancer Shield Plan

• The policy covers all stages of cancer i.e. early stage of cancer and major stages of cancer
• Flexibility to choose the coverage option – level or increasing cover
• Waiver of premium for 5 years on the diagnosis of the early stage of cancer
• Option to receive monthly income for 5 policy years on diagnosis on the diagnosis of a major stage of cancer

Eligibility Criteria for ABSLI Cancer Shield Plan

Entry age	18 years to 65 years
Maturity age	85 years
Policy term	5 years to 50 years
Premium paying term	Regular pay
Sum assured	INR 10,00,000 to INR 50,00,000
Premium payment frequency	Yearly/Half-yearly/Quarterly/Monthly

2. ABSLI Hospital Plus Plan

ABSLI Hospital Plus Plan is a fixed benefit health plan that ensures the investor enjoys the best medical care experience. The plan provides a fixed cash amount in the event of hospitalisation to take care of additional expenses and acts as a great supplement to base health plan.

Features of ABSLI Hospital Plus Plan

• Fixed cash on hospitalisation irrespective of the actual cost
• An additional benefit in case of hospitalisation due to an accident
• The policy offers family cover, but without any limit on aggregate payments
• Flexibility to choose from four benefit options to suit your needs

Eligibility Criteria for ABSLI Hospital Plus Plan 

Entry age	Adult – 18 years to 65 years Child – 3 months to 17 years
Maturity age	95 years
Policy term	5 years guaranteed renewable
Premium paying term	Regular pay (guaranteed renewable every 5 years)
Sum assured	Benefit option A – INR 75,000 per life Benefit option B – INR 2,25,000 per life Benefit option C – INR 3,75,000 per life Benefit option D – INR 5,62,500 per life
Premium payment frequency	Yearly/Monthly

3. ABSLI CritiShield Plan

ABSLI CritiShield Plan is a non-participating traditional health insurance plan offered by Birla Sun Life. The plan basically provides a financial shield against heart and kidney ailments. 

Features of ABSLI CritiShield Plan

• Covers all stages of cardiac conditions and renal conditions
• Waiver of premium for 5 years on the diagnosis of early-stage conditions
• Option to choose the coverage depending on the need

Eligibility Criteria for ABSLI CritiShield Plan

Entry age	18 years to 65 years
Maturity age	85 years
Policy term	5 years to 50 years
Premium paying term	Regular pay
Sum assured	INR 10,00,000 to INR 50,00,000
Premium payment frequency	Yearly/Half-yearly/Quarterly/Monthly

Birla Sun Life Retirement Plans

Retirement planning needs to start early in the career. Birla Sun Life offers many options for saving for retirement. There are a variety of plans suitable for varying risk profiles and needs.

1. ABSLI Empower Pension Plan

ABSLI Empower Pension Plan is a unit-linked non-participating pension plan that helps to save for the golden years of life. The plan makes a market-linked investment to maximise the return on savings so that the future is secure without any financial worries.

Features of ABSLI Empower Pension Plan

• Guaranteed additions to boost the corpus
• Depending on the vesting date and the risk profile portfolio will be structured
• Flexibility to choose the investment fund
• The death benefit payable to nominee in case of demise during the policy period

Eligibility Criteria for ABSLI Empower Pension Plan

Entry age	25 years 70 years
Vesting age	80 years
Policy term	5 years to 30 years
Premium paying term	Regular pay
Minimum basic premium Yearly Half-yearly Quarterly Monthly	INR 18,000 p.a. INR 24,000 p.a. INR 30,000 p.a. INR 36,000 p.a.
Premium payment frequency	Yearly/Half-yearly/Quarterly/Monthly

2. ABSLI Immediate Annuity Plan

ABSLI Immediate Annuity Plan is a traditional, non-participating single premium plan that ensures alternate income in the golden years of life. 

Features of ABSLI Immediate Annuity Plan

• Flexibility to choose from 6 payout options available
• Flexibility to choose the annuity payout mode – monthly/quarterly/half-yearly/yearly
• Guaranteed income for the life of the annuitant
• No medical test required to buy the policy

Eligibility Criteria for ABSLI Immediate Annuity Plan

Entry age	30 years to 90 years
Regular Income Yearly Half-yearly Quarterly Monthly	INR 12,000 INR 6,000 INR 3,000 INR 1,000

3. ABSLI Empower Pension – SP Plan

ABSLI Empower Pension –SP Plan is a single premium unit-linked pension plan that aims to provide financial freedom during the retirement years of life. The plan helps to focus on retirement goals.

Features of ABSLI Empower Pension – SP Plan

• Single premium payment for building corpus during the accumulation phase
• Depending on the vesting date and the risk profile portfolio will be structured
• Guaranteed additions to boost retirement corpus

Eligibility Criteria for ABSLI Empower Pension – SP Plan

Entry age	25 years 70 years
Vesting age	80 years
Accumulation Period	5 years to 20 years
Policy term	Single pay
Premium paying term	Single pay
Single premium	INR 1,00,000 to No limit
Premium payment frequency	Yearly/Half-yearly/Quarterly/Monthly

Birla Sun Life Savings with Protection Plans

Savings with protection plans offered by Birla Sun Life are basically the endowment insurance plans that offer the dual benefit of life protection and wealth accumulation over the long-term. Endowment plans inculcate the savings habit and secure the insured’s family during the unfortunate event. There are various savings with protection plans offered by Birla Sun Life.

1. ABSLI SecurePlus Plan 

ABSLI SecurePlus Plan is a traditional non-participating endowment plan that offers the benefit of guaranteed income along with life protection for the insured period.

Features of ABSLI SecurePlus Plan

• The policy offered guaranteed income benefit along with life cover
• Flexibility to choose from two-income benefit options – Option A provides increasing assured income up to six times the annual premium at the end of every year for six years. Option B offers double the annual premium as assured income at the end of every year for 12 years.

Eligibility Criteria for ABSLI SecurePlus Plan

Entry age	5 years to 50 years
Maturity age	63 years
Policy term	13 years
Premium paying term	12 years
Minimum premium	Annual mode – INR 50,000 p.a. Monthly mode – INR 36,000 p.a.
Payment period	For Income benefit option A – 6 years (from the completion of policy term) For Income benefit option B – 12 years (from the completion of policy term)
Minimum Sum assured	INR 5,22,000
Premium payment mode	Annual/Monthly

2. ABSLI Vision MoneyBack Plus Plan

ABSLI Vision MoneyBack Plus Plan is a traditional participating endowment plan that provides liquidity at regular intervals to meet the financial requirement along with the life cover against uncertainties.

Features of ABSLI Vision MoneyBack Plus Plan

• Guaranteed survival benefit at regular intervals during the policy term to meet the life goals
• Comprehensive financial protection to the family at an affordable rate
• Maturity benefit will include regular bonuses and terminal bonuses
• Coverage can be enhanced with multiple rider options

Eligibility Criteria for ABSLI Vision MoneyBack Plus Plan

Entry age	13 years to 45 years
Maturity age	70 years
Policy term	20,24 and 25 years
Premium paying term	10 and 12 years
Minimum Sum assured	INR 1,00,000
Premium payment mode	Yearly/Half-yearly/Quarterly/Monthly

3. ABSLI Vision LifeIncome Plan

ABSLI Vision LifeIncome Plan is a traditional participating whole life insurance plan that offers the benefit of steady income along with whole life protection against uncertainties.

Features of ABSLI Vision LifeIncome Plan

• Life cover till the age of 100 years
• Survival and maturity benefit is paid along with bonuses accrued
• Income for life – 5% of the sum assured guaranteed plus bonus every year after the premium paying term
• Coverage can be enhanced with multiple additional riders

Eligibility Criteria for ABSLI Vision LifeIncome Plan

Entry age	30 days to 60 years
Policy term	whole life to age 100 years
Premium paying term	8,10,12,15 to 40 years
Minimum Sum assured	INR 2,00,000
Premium payment mode	Yearly/Half-yearly/Quarterly/Monthly

4. ABSLI Savings Plan

ABSLI Savings Plan is a traditional participating endowment plan that secures insured’s family well-being along with building a corpus for future life goals.

Features of ABSLI Savings Plan

• Flexibility to choose the policy term and premium paying term
• Flexibility to choose the sum assured based on protection and savings need
• Guaranteed additions for the first 5 years of the policy
• The additional sum assured is payable for accidental death
• Loan facility against the policy
• Bonuses to boost the savings

Eligibility Criteria for ABSLI Savings Plan

Entry age	18 years to 50 years
Policy term	10,15 and 20 years
Premium paying term	10 and 15 years
Sum assured	INR 30,000 to INR 10,00,000
Premium payment mode	Yearly/Half-yearly/Quarterly/Monthly

5. ABSLI Vision LifeSecure Plan

ABSLI Vision LifeSecure Plan is a traditional participating whole life insurance plan that offers the dual benefit of whole life protection and corpus building for future life goals.

Features of ABSLI Vision LifeSecure Plan

• Enhance the savings with guaranteed benefits and accrued regular bonuses
• Whole life protection till the age of 100 years
• Coverage can be customised with multiple additional riders

Eligibility Criteria for ABSLI Vision LifeSecure Plan

Entry age	30 days to 60 years
Maturity age	18 years to 75 years
Policy term	15 years to 35 years
Premium paying term	Same as the policy term
Sum assured	INR 2,00,000 to no limit
Minimum premium	INR 12,000 p.a.
Premium payment mode	Yearly/Half-yearly/Quarterly/Monthly

6. ABSLI Income Assured Plan

ABSLI Income Assured Plan is a traditional non-participating endowment plan that helps in creating a corpus for brighter future along with providing comprehensive coverage to family against the uncertainties of life.

Features of ABSLI Income Assured Plan 

• The policy offers assured income of 8% of the sum assured per annum payable monthly in arear from the date of completion of premium paying term till maturity
• Comprehensive life protection for the family during the policy term
• Guaranteed additions will start from the completion of premium paying term
• Coverage can be customised with multiple rider options

Eligibility Criteria for ABSLI Income Assured Plan

Entry age	8 years to 60 years
Policy term	15,17,20,22 and 25 years
Premium paying term	5, 7 and 10 years
Sum assured	INR 1,00,000 to no limit
Premium payment mode	Yearly/Half-yearly/Quarterly/Monthly

7. ABSLI Vision Endowment Plus Plan

ABSLI Vision Endowment Plus Plan is a traditional participating endowment plan that ensures the family’s financial securities during any uncertainties along with offering an opportunity to save for future life goals.

Features of ABSLI Vision Endowment Plus Plan

• Flexibility to choose the premium paying term and policy term
• Combination of family financial security with savings growth
• Death/Maturity benefits will include accrued bonuses and terminal bonuses if any
• Multiple additional riders such as surgical care rider, critical illness rider, accidental death and disability rider, waiver of premium rider and accidental death benefit rider

Eligibility Criteria for ABSLI Vision Endowment Plus Plan

Entry age	30 days to 60 years
Maturity age	70 years
Policy term	10 years to 40 years
Premium paying term	Limited pay -7,10,15 and 20 years Regular pay – same as the policy term
Sum assured	INR 1,00,000 to no limit
Premium payment mode	Yearly/Half-yearly/Quarterly/Monthly
Minimum premium	INR 2,495 p.a.

8. ABSLI Guaranteed Milestone Plan

ABSLI Guaranteed Milestone Plan is a non-linked non-participating life insurance plan that offers adequate protection to the family in the event of insured’s death during the policy period along with guaranteed benefits on maturity.

Features of ABSLI Guaranteed Milestone Plan

• Guaranteed benefits payable on death or on maturity
• Guaranteed additions every year to boost the corpus
• Flexibility to choose the policy term 
• Joint life cover that allows to include spouse under the same policy
• Multiple rider options to enhance the coverage

Eligibility Criteria for ABSLI Guaranteed Milestone Plan

Entry age	30 days to 60 years
Maturity age	18 years to 70 years
Minimum maturity sum assured	INR 90,000
Sum assured	15 times the annualised premium
Premium payment mode	Yearly/Half-yearly/Quarterly/Monthly
Minimum premium	INR 15,000

Policy term	Premium paying term
12 years and 14 years	6 years
16 years and 18 years	8 years
20 years and 22 years	10 years
24 years and 26 years	12 years

9. ABSLI – Jeevan Bachat Plan

ABSLI Jeevan Bachat Plan is a non-linked non-participating endowment plan that boosts the savings by offering guaranteed returns along with providing life protection throughout the policy term.

Features of ABSLI Jeevan Bachat Plan

• Fully guaranteed benefits on death or on maturity
• The convenient and easy buying process
• Flexibility to choose the premium paying term and policy term
• Maturity benefit includes the sum assured plus guaranteed additions accrued till maturity
• Facility to avail the loan against the policy

Eligibility Criteria for ABSLI Jeevan Bachat plan

Entry age	1 year to 55 years
Maturity age	18 years to 65 years
Policy term	For single pay and 6 pay – 10,15 and 20 years For 9 and 12 pay – 15 and 20 years
Premium paying term	Single pay Limited pay – 6,9 and 12 years
Sum assured	Single pay – INR 12,500 to INR 10,00,000 Limited pay – INR 50,000 to INR 5,00,000
Premium	Single pay – INR 10,000 to INR 1,00,000 Limited pay – INR 5,000 to INR 50,000
Premium payment mode	Single/Yearly/Half-yearly/Quarterly/Monthly

10. ABSLI Monthly Income Plan

ABSLI Monthly Income Plan is a non-linked participating life insurance plan that helps to build an adequate corpus for retirement life along with providing financial protection to the family in the event of uncertainties. 

Features of ABSLI Monthly Income Plan

• Financial protection to the family along with level or increasing income benefit option to choose from
• The inbuilt accidental death benefit
• Monthly income benefit to take care of recurring needs
• Lump-sum bonuses at maturity

Eligibility Criteria for ABSLI Monthly Income Plan

Entry age	18 years to 55 years
Maturity age	80 years
Policy term	20 years to 37 years
Premium paying term	10 and 12 years
Sum assured	INR 4,00,000 to no limit
Premium	Single pay – INR 10,000 to INR 1,00,000 Limited pay – INR 5,000 to INR 50,000
Premium payment mode	Single/Yearly/Half-yearly/Quarterly/Monthly
Minimum premium	INR 15,000

How to Buy Birla Sun Life Insurance Plans?

Birla Sun Life Insurance plans can be purchased both offline and online platform. You can visit the branch offices or contact insurance advisors for purchasing Birla Sun Life plans offline. However, buying online is more convenient which can be done in a few steps through the company website of Birla Sun Life Insurance.

The easiest way to buy Birla Sun Life plans online would be buying them through Turtlemint as plans can be compared with similar other plans available in the market. 

Following are the simple steps to follow for buying online –

• Visit www.turtlemint.com
• Click on the ‘life insurance’ category
• Choose the subcategory of your choice and the list of various plans available under the category are displayed.
• Provide your profile details such as gender, marital status, date of birth, name, income details, contact details and the coverage requirements etc
• Once you complete your profile, all the suitable plans available in the market are displayed
• Compare and choose the best-suited plan.
• After choosing the plan, fill in the online application and proceed for premium payment
• Once the payment is done, you would be able to buy the plan easily.

Documents Required for Buying Birla Sun Life Insurance Plans

Following are the documents required for buying Birla Sun Life Insurance plans –

• Identity Proof – PAN Card/ Driving license/Aadhaar Card/ Voter’s ID/Passport
• Address Proof – Passport/Voter’s ID/ Bank Statement/Driving License/ Aadhaar Card/ Ration card/Utility Bill
• Income Proof – ITR for last 3 years/Salary slip/ Latest form 16
• Passport size photographs
• Medical reports, if necessary

Claim Process for Birla Sun Life Insurance Plans

Claim process for Birla Sun Life Insurance plans is simple, convenient and streamlined. Following is the process to follow –

• Intimate the insurance company immediately about claim settlement. A claim can be registered online or through email or by calling on the toll-free number 1800-270-7000. Alternatively, claim intimation request can be placed at the branch office.
• Submit signed and filled claim form along with other relevant documents
• Claim team will carefully scrutinise all the documents submitted and communicate in case of any pending documents.
• Once all the documents are received and verified, claim decision (acceptance or rejection) will be taken.

Turtlemint can help you with claim settlements, you can contact Turtlemint by calling on 1800-266-0101 or by writing to them on claims@turtlemint.com. Their executive will get in touch with you.

Documents Required for Birla Sun Life Insurance Claims

Following are the documents required for Birla Sun Life insurance claims:

• Duly signed and filled claim form
• Original policy document/Indemnity bond
• Copy of Death certificate
• Claimant’s statement along with ID proof and relationship proof
• Medical attendant certificate
• Police FIR and post mortem report in case of unnatural death
• Employer’s certificate, if applicable

Requirement of documents may slightly vary depending on the type of claim.

Riders Offered under Birla Sun Life Insurance Plans

Birla Sun Life Insurance plans come with multiple optional rider options that can enhance the coverage. Following are the riders offered by Birla Sun Life.

1. ABSLI Surgical Care Rider – This rider covers hospitalisation expenses for medically necessary surgery for a minimum period of 24 hours.
2. ABSLI Hospital Care Rider – This rider provides a daily cash benefit in case of hospitalisation due to any illness or injury for a minimum period of 24 hours.
3. ABSLI Waiver of Premium Rider – This rider waives future premiums if the policyholder is unable to pay the premium due to financial difficulties arising from uncertainties.
4. ABSLI Accidental Death and Disability Rider – This rider provides additional coverage for accidental death and disability.
5. ABSLI Critical Illness Rider – This rider pays out a lump sum benefit on diagnosis of four major specified critical illnesses.
6. ABSLI Accidental Death Benefit Rider Plus – This rider provides additional coverage for accidental death.

Exclusions in Birla Sun Life Insurance Plans

Suicide exclusions: If the life insured dies by committing suicide within 12 months from the date of inception of the policy or revival of the policy, the insurance company will pay the premiums paid to the date (excluding applicable taxes). 

For any queries, Birla Sun Life Insurance Company can be contacted easily.

Contact address: 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

Email – care.lifeinsurance@adityabirlacapital.com