Aditya Birla Sun Life Term Insurance

Term insurance ensures financial security and peace of mind for your family. With so many options available in India, it may get tedious for you to compare and select the best one. Isn’t it? If you are planning to invest in term life insurance to secure the future of your loved ones, consider Aditya Birla Life Insurance Plans. Keep reading to find out the details!

Key Features of Aditya Birla Life Term Insurance

Why Should You Buy Aditya Birla Term Insurance Plans?

Following are the benefits of buying Aditya Birla Term Insurance Plans:

• Financial Protection: Aditya Birla Term Insurance Plans will ensure financial protection for your family. It will assist you in providing the same lifestyle even when you are not around them.
• Rewards: Aditya Birla attracts its customers with discounts and rewards. In simple terms, the policyholders receive discounts on their premiums for living a healthy lifestyle throughout the year.
• Flexibility: Another major reason to opt for Aditya Birla Term Plans is the flexibility to choose premium payment and payout options.
• Tax Benefits: Aditya Birla Term Life Insurance policyholders can avail of tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

Aditya Birla Life Term Insurance Premium Calculator

Aditya Birla Life term insurance premium calculator is an online tool. It allows you to determine a premium for your term plan. It takes certain factors like age, profession, gender, number of dependents, and more into account to calculate a premium.

Policyholders can calculate a premium for different term insurance plans. Compare the features and benefits of all plans, along with their premiums. Select the one that suits you best as per your financial needs.

Types of Aditya Birla Term Insurance Plans 2023

The section below highlights some of the best term insurance plans offered by Aditya Sun Life Insurance:

To get personalised advice and buy the best term life insurance plan, you can contact the sales support team at InsuranceDekho.

Riders Available Under Aditya Birla Term Insurance Plans

Riders are additional benefits that a life insurance company offers to the insured. Policyholders can buy these riders with their essential term plans. Aditya Birla Life Term Plan coverage can be enhanced by purchasing the following riders:

• Accidental Death and Disability Rider:

In case of the accidental death or disability of the policyholder, ABSLI will pay the rider sum assured to the beneficiary or nominee of a term insurance plan.

• Critical Illness Rider:

It protects you financially against hefty treatment costs arising from critical illnesses such as heart attacks, strokes, bone marrow transplants, and others. Aditya Birla will pay 100% of the sum assured on survival for 30 days after the date of diagnosis to the insured.

• Hospital Care Rider:

In the case of 24-hour hospitalisation, a daily cash allowance is paid to the policyholders under this rider. The cash allowance benefit can range from Rs. 600/day to Rs. 6000/day, depending on the term insurance plan you choose.

• Surgical Care Rider:

Similar to the hospital care rider, this rider benefit provides enhanced financial protection to policyholders. However, the policyholders can claim only in the case of surgical medical procedures. The minimum sum assured is Rs. 3,000, and the maximum is Rs. 30,000.

• Waiver of Premium Rider:

This rider will ensure that your loved ones continue to enjoy financial peace and protection through term plans. For instance, if the policyholder dies during the policy tenure, the insurer will waive off all future premiums and continue to provide the insurance coverage.

• Accidental Death Benefit Rider Plus:

Policyholders can enhance their financial security by paying a nominal premium with this rider. The insured will pay 100% of the rider sum assured to the beneficiary within 180 days in the event of the accidental death of the policyholder.

Factors Affecting Aditya Birla Life Term Insurance Premium

The premium is an amount paid by the policyholder to a term insurance company in exchange for life coverage. There are many factors that affect term insurance premiums. Following are some of these factors:

• Age: The policyholder’s age impacts the premium for life insurance plans. If you purchase a term plan in your 20s, then you might have to pay a lower premium. However, individuals purchasing term insurance in their 30s or 40s may have to pay a high premium.
• Medical History: Another major factor that impacts the premium for your term life insurance is past medical conditions. You might have to pay a high premium if you are diagnosed with a critical illness or pre-existing disease.
• Profession: Your term life insurance premium is impacted by the type of profession you are involved in. Policyholders who are involved in high-risk professions like military, army, and more might have to pay a higher premium against their term plan.
• Lifestyle Habits: The lifestyle habits of policyholders significantly impact the premium for their term policies. If you smoke or consume any other intoxicating substance, you might have to pay a higher premium for your policy.

Tips to Buy the Best Term Insurance Plan

Following are the tips that you can consider to buy the best term insurance plans in India:

• The claim settlement ratio of the company is an important factor that you need to consider when comparing different term plans. Buy from an insurer that has a high claim settlement ratio to ensure a seamless claim settlement process for your loved ones.
• Riders are additional benefits offered by term insurance companies. Policyholders must check the riders that are offered by the company with their term plans.
• Analyse your financial needs and current lifestyle to select the right sum-assured plan.
• Term insurance plans must not hamper your existing budget. Therefore, when purchasing this type of life insurance, ensure that premiums fit into your existing budget.

Exclusions Under Aditya Birla Term Insurance Plans

Aditya Birla Sun Life Term Plans provide financial coverage for some deaths. It is important to read the policy document and check the exclusions carefully. Some common mishaps that are not covered under the Aditya Birla Term Plans are as follows:

• Any partial or total disability arising from any adventurous or dangerous sports activity.
• Self-inflicted injury, suicide, or suicidal attempts are not covered.
• Any injury, disability, or death that happens in service in the military, air force, or paramilitary organisation.
• If the life assured participates in any strike, industrial dispute, riot, war, or any other harmful activity, it will not be covered.

Process To Buy Aditya Birla Term Insurance Plans

Aditya Birla has a quick and easy term insurance purchasing process. The policyholders can buy online from the comfort of their homes. Find out a comprehensive guide on how to buy Aditya Birla Sun Life Term Plans in the section below:

Documents Required

• Age proof
• Address proof
• Medical history
• Nomination proof
• Identity proof
• Income proof
• Photograph

Steps You Need To Follow

• Visit the official website of InsuranceDekho.
• Compare the features and benefits of the company's different term plans.
• Select the plan and fill out the application form online.
• Choose the sum assured and premium for your term insurance plan.
• Submit all the necessary documents.
• Undergo a medical check-up if asked by a life insurance company.
• Pay a premium online.
• The policy document will be sent to your registered email-id.

Why Purchase Aditya Birla Life Term Insurance Online?

Online purchases of Aditya Birla Life Term Insurance improve your customer experience. You can secure the financial needs of your loved ones while sitting comfortably in your home. Besides this, there are many other reasons to purchase Aditya Birla's term plans online. Some of them are enlisted below:

• Aditya Birla's online term plans help you buy a protection plan quickly. Within a few minutes, policyholders can buy any plan that best suits their needs.
• You can avoid lengthy and tedious documentation processes by purchasing a term life insurance policy online.
• Policyholders can compare multiple-term insurance plans online with ease. Additionally, you can determine the premium for each term policy online and make a smart purchasing decision.

Aditya Birla Term Insurance Claim Settlement Process

Nominees of Aditya Birla Sun Life Term Insurance can claim a policy in case of the unfortunate death of the life assured. The high claim settlement ratio of 98.15% assures that the future of your loved ones is in safe hands. To ensure a hassle-free and smooth claim settlement process, you can consider the below guide:

Documents Required

• Death certificate issued by Municipal Authorities
• KYC- ID Proof/ Relationship Proof of the Claimant
• Claimant’s statement on the reason for the death
• Original policy document
• Cancelled cheque with bank details
• Employer’s certificate if the policyholder was employed
• Medical attendant certificate

Steps You Need to Follow

• Inform the insurer about the mishaps and fill out the claim form. You can either call on their toll-free number 1800-270-7000 or write to BSLI.claims@birlasunlife.com
• Submit all the required documents requested by the insurer.
• The claiming team will assess the claim statement and documents you provide.
• The company will send the claim amount through NEFT if satisfied. However, the insurer will mail you the reason for the rejection.