Insurance Plans 1697 views November 20, 2019

Aditya Birla Sun Life Term Plan

Birla Sun Life Term Plan – Overview

The Aditya Birla Sun Life Insurance Company is one of the top life insurance companies in India. The company offers some very good term insurance plans. The plans are available online, making them very easy to buy and use. Take a look at this article to learn more about these term insurance covers and to understand how can Aditya Birla Sun Life Term insurance plan help.

Features of Aditya Birla Sun Life Term Plan

Here are the top features and benefit of Aditya Birla Sun Life term plan:

1. Affordable

The main beneficial feature of term insurance is its affordability. A term life insurance cover is one of the cheapest forms of life insurance. This is because the plans do not offer anything in return when the policyholder outlives the policy period. In most other forms of life insurance, the insurer needs to return an amount to the policyholder if no claim is made on the policy. This clause is absent in term insurance, making it an extremely affordable form of life insurance

2. Easily available

The world has changed a lot and becomes digital. The insurance industry has not stayed away from this and these days we find all the leading insurance providers, including the Aditya Birla Sun Life Insurance Company, selling their term plan online. The availability of term insurance online has made life much simpler for the policyholders. The term plans can be bought online in a matter of a few minutes. Many of the online term insurance plans don’t even mandate a pre-screening medical test and this makes it even quicker to get term insurance nowadays.

3. Flexible premium payment options

Most of the Birla Sun Life term plan offer a flexible premium payment option. You can pay the premium for the term insurance cover for a limited number of years. Alternatively, you can pay it for the entire duration of the policy. The policy can be paid once insurance year, twice in a year, once every quarter or once every month. There is a lot of flexibility offered, which makes it easy and financially possible for people from all walks of life to own a term insurance cover.

4. Multiple payout options

Aditya Birla Sun Life Insurance is a leading provider of life insurance in the country. It has many satisfied customers who always praise the company for their policies and plans. The multiple payout options on the ABSLI term insurance plans is a feature that has especially garnered a lot of praise. Here, the policyholder can choose the way in which the death benefit is paid out to his nominees after his death. If he wishes, his nominees can get the entire amount in one go. This is the lump sum benefit. If he wishes, the amount can be broken up into smaller parts and paid in instalments. This is the staggering benefit. He can even choose to have a combination of the two. The choice needs to be conveyed to the insurer when the term plan is bought.

5. Tax benefits

And last but not the least, a policyholder gets a very handy tax benefit when he buys a term insurance plan from a good insurance company like the Aditya Birla Sun Life Insurance Company. The premium paid towards the term life insurance cover is tax-deductible for a maximum sum of Rs 1.5 lacs per annum. This provision is available under Section 80C of the Indian Income Tax Act. So when you buy term insurance, your life stays covered and you save tax money as well

If you are looking for the best term insurance plan in India, you can consider getting a cover from ABSLI. With the features mentioned above, the company’s term plans are indeed among the very best in the country.

How to choose Aditya Birla Sun Life Term Plan

Being one of the largest life insurance companies in India, ABSLI has multiple term insurance plans on offer. As a customer, you never fall short of options. However, since there are multiple plans, you need to assess your own needs and see which plan suits you the best. Look at a proper duration, as well as an adequate coverage amount. Also, get a plan that is affordable for you. Some of the plans to choose from include:

  1. ABSLI DigiShield Plan
  2. ABSLI Income Shield Plan
  3. ABSLI Life Shield Plan
  4. ABSLI UltimaTerm Plan

Go over the features of each plan, compare insurance plans and then find the best option for yourself.

Questions to know before applying for term insurance in India

Here are some questions to ask before you apply for a term life insurance plan in India:

Is the paperwork complicated?

Not at all. The policyholder only needs to submit a proof of identity, a proof of residence and a proof of his income to get the term insurance plan.

Can a joint policy be purchased?

Yes, an Aditya Birla Sun Life term insurance plan can jointly be purchased by a husband and wife duo.

Who needs term insurance?

To put it very simply, everyone needs term insurance. However, a person who is married and has many responsibilities benefits greatly from buying term insurance and covering his life in an economic and hassle-free manner.

How buying an Aditya Birla Sun term plan will make family safe?

As you can clearly see from the points mentioned above, a term insurance plan has many beneficial features. When you buy a term insurance plan from a reliable insurer such as The Aditya Birla Sun Life Insurance Company, you secure the financial health of your loved ones. Life is unpredictable and you never know what dangers lie ahead. If anything happens to you, your loved ones should not suffer. To ensure this, get a good term cover from ABSLI. But why choose ABSLI?  Well, the company has a very high claim settlement ratio, has a good customer support team and offers a variety of term life covers. There are some solid reasons why buying an Aditya Birla Sun Life Insurance term plan helps to keep your family safe.

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