Aditya Birla Sun Life Term Insurance Calculator

Aditya Birla Sun Life Term Insurance Calculator

Aditya Birla Sun Life Insurance (ABSLI) Company is a subsidiary of Aditya Birla Capital Ltd and is promoted by Sun Life Financial Inc. of Canada and Aditya Birla Group of India. A leading life insurance company in the Indian private insurance sector, Aditya Birla Sun Life Insurance was the first company to introduce a free look period in the life insurance business.

The leading insurer offers 3 term insurance plans that provide financial protection to the life assured’s family during unfortunate circumstances. You can use Aditya Birla Sun Life Term Insurance Calculator to compare the benefits and features of various term plans.

Benefits of Aditya Birla Sun Life Term Insurance Premium Calculator

  • Simplify the comparison: Aditya Birla Sun Life Term insurance plans ease out the process of comparing various term plans. You don’t need to submit any documents; just enter your details and get the quotes of different term insurance plans.
  • Right Premium Amount: Using the Aditya Birla Sun life term insurance calculator, you get to know about the right premium amount you need to pay. It helps you understand the suitable term plan that fits your budget and matches all your requirements.
  • Helps to opt for add-on cover: By knowing the amount you need to pay; you can plan further for the additional coverage by choosing necessary riders. Once you know the amount you need to pay for the riders, you can plan your budget accordingly and opt for the ideal policy coverage.

Aditya Birla Sun Life Term Insurance Plans

  • ABSLI Life Shield Plan
  • ABSLI DigiShield Plan
  • ABSLI Saral Jeevan

Below are the details about term insurance plans offered by Aditya Birla Sun Life Term Insurance:

  1. ABSLI Life Shield Term Insurance Plan: This term plan offers 8 different coverage options for the policyholder to choose from based on their specific requirements. It also provides terminal illness benefits and flexibility to increase the term plan coverage. 
  2. ABSLI DigiShield Term Insurance Plan: Aditya Birla Sun Life DigiShield Insurance Plan comes with 10 different coverage options that are carefully designed to provide comprehensive protection based on their different requirements. This term plan offers life cover for 1 year or till 100 years of age. In addition, it offers financial protection to the insured’s dependents through various death benefit payout options such as lump sum, monthly payout, or a combination of the two. The plan also offers a return of premium option along with life cover, securing savings of the policyholder.
  3. ABSLI Saral Jeevan Bima Term Insurance Plan: Saral Jeevan Bima by Aditya Birla Sun Life Insurance is a standard term insurance plan, offering a lump sum cover amount in case of the insured’s sudden demise within the policy term. This term plan also gives the flexibility to enhance the base cover with the help of accidental death benefit rider by paying an additional premium amount. It also offers the flexibility to pay a premium amount for a specific duration or throughout the policy’s tenure.

Benefits of Aditya Birla Sun Life Term Insurance

  • High coverage for minimal price: Aditya Birla Sun Life Term Insurance Plans offers substantial coverage at a considerably lower premium. It would be best to consider purchasing a term plan at a young age to enjoy the lowest possible premium amount.
  • Financial Safety: The policyholder’s dependents get financial assistance in case of the unfortunate demise of the insured, who might be the sole bread worker of the family. The policy nominee receives the assured sum after the insured’s demise, which safeguards their financial expenses and ensures their future objectives are met.
  • Flexible payout options: Aditya Birla Sun Life Term Insurance Plans offer the policyholder the flexibility to choose the desired payout option. Upon policyholder’s demise, the sum assured can be paid either as a lump sum amount or as a monthly or annual income. This helps the family members in managing their regular expenses along with other financial requirements in your absence. 
  • Numerous Riders: Aditya Birla Sun Life Term Insurance Plans can be bought with different riders to enhance the existing base cover. Different riders offered by the insurer include waiver of premium rider, accidental death and disability rider, surgical care rider, hospital care rider, amongst others.
  • Tax Benefits: Premiums paid against Aditya Birla Sun Life Term Insurance Plans is qualified for tax exemption under section 80C of the Income Tax Act, 1961 up to Rs 1.5 Lakh maximum. In addition, the payout amount that is given on the demise of the policyholder is eligible for tax exemption under section 10(10 D) of the Income Tax Act, 1961.

 

FAQs:

Does Aditya Birla Sun Life's term insurance expire?

Aditya Birla Sun Life term plans expire at end of the policy term or if the claim is settled, whichever happens, earlier. However, you should keep paying the premiums to keep the policy active.

How can I track the status of Aditya Birla Sun Life term insurance plan?

To track the status of Aditya Birla Sun Life term plans, you need to visit the insurer's official website and go to the policy tracker page. Then you need to enter your policy number, date of birth, contact info, and afterward click on 'submit.'

How Aditya Birla Sun Life's term insurance premiums are calculated?

The premium paid towards your Aditya Birla Sun Life's term insurance plan is calculated based upon various factors such as gender, age, occupation, lifestyle habits, etc. Moreover, it is advisable to buy term plans at an early age as the premium amount increases with age. In addition, it is prudent to purchase term plans at an early age as the premium amount increments with age.

Does Aditya Birla Sun Life’s term plan cover natural death?

Yes, Aditya Birla Sun Life’s term insurance covers natural and accidental deaths.

What are the benefits of buying an Aditya Birla Sun Life term insurance plan online?

You ought to consider buying an Aditya Birla Sun Life term insurance plan online as it is cost-effective, saves time, and helps you choose the best term plan option by comparing various term plans using a term insurance calculator.

What is the use of a term insurance premium calculator?

A term insurance premium calculator helps you determine the right coverage amount required to secure your family's future needs. The calculator measures different variables, such as the chosen life coverage, gender, age, etc., and accordingly provides you with quotes of different term plans. This helps you choose the right term plan as per your requirements and budget.

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