Aditya Birla Sun Life Term Insurance Plans
Aditya Birla Sun Life Insurance Company Limited, a part of Aditya Birla Capital Ltd (ABCL), started operations in the year 2001. It is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a leading international financial services organization in Canada providing insurance, wealth, and asset management solutions to individual and corporate clients.
Term plans offered by Birla Sun Life Insurance
- Aditya Birla Sun Life Insurance Life Shield Plan: This policy assures you to create financial security for your loved ones by paying the policy benefits to your nominee if your unfortunate demise occurs during the policy term. It provides the flexibility to choose from 8 different plan options, as per your needs: Level Term Assurance, Level Term Assurance with Waiver of Premium (WOP) Benefits, Increasing Term Assurance, Increasing Term Assurance with Waiver of Premium (WOP) Benefits, Decreasing Term Assurance, Decreasing Term Assurance with Waiver of Premium (WOP) Benefits, Return of Premium, Return of Premium with Waiver of Premium (WOP) Benefit.
You can also enhance the coverage at essential life stages like marriage, childbirth, etc. The ability to cover your spouse under the same policy, multiple rider options, and tax benefits are some of the other feature offerings of this plan.
- Aditya Birla Sun Life Insurance DigiShield Plan: A comprehensive term insurance policy that provides more options to customize, suiting your needs, and helps you plan for the uncertainties of life. There are ten plan options that allow you to choose a suitable life insurance cover for one year to 100 years of age, return of premiums, income benefit, terminal illness benefit, increase life cover at significant life events, etc. You can also opt for the premium payment term between single pay, regular pay, and limited pay after deciding on the correct sum assured, ranging from a minimum of Rs 30 lakh and no limit on the maximum.
- Aditya Birla Sun Life Saral Jeevan Bima: This is a simple and affordable term insurance plan with standard features mandated by IRDAI to bring more people into insurance. There are no survival or maturity benefits under this plan, making it a complete protection plan. A waiting period of up to 45 days is applicable from the risk commencement date in this plan to receive death benefits.
With a sum assured of Rs 5,00,000 and no complex eligibility conditions, it is a policy suited for all individuals, especially those in the unorganized workforce.
Why choose Birla Sun Life Term Insurance?
- Aditya Birla Sun Life Insurance is part of the Aditya Birla Group, a Fortune 500 company with over 140,000 employees and operating in 36 countries across the globe.
- Birla Sunlife has a wide network presence across India. It has 386 branches and 90,000 direct selling agents to help customers choose the right insurance products for their needs and serviced more than 17 lakh customers.
- The claim settlement ratio of Aditya Birla Sun Life Insurance is 97.54% (IRDAI Annual Report 19-20), which is a testament to the trust placed by the policyholders in the company.
To know more about the term insurance plans from Aditya Birla Sun Life Insurance, visit the website iiflinsurance.com.