Term Insurance 6839 views November 20, 2019

Aditya Birla Sun Life Term Insurance

About Aditya Birla Sun Life Term Insurance

The Aditya Birla Sun Life Insurance Company is one of the top life insurance companies in India with its wide array of term insurance plans. These plans are available online, making it easy for you to buy and get the cover. 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.

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Features of Aditya Birla Sun Life Term Insurance Plan

Here are the top features and benefits of Aditya Birla Sun Life term insurance plans

Affordable

What strikes the most about the Aditya Birla Term Insurance Plan is its  affordability. A term life insurance cover is one of the low-cost life insurance . This is because these 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, thereby making it an extremely affordable form of life insurance

Easily Available

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

Flexible Premium Payment Options

Most Aditya Birla Sun Life term insurance plans 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 premium can be paid once in a 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 viable for people from all walks of life to own a term insurance cover.

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. The nominees can get the entire amount in one go as per the wishes of the policyholder. This is the lump sum benefit. The amount can even be broken up into smaller parts and paid in instalments. Or policyholders 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.

Tax Benefits

And last but not the least, a policyholder gets a very handy tax benefit when he/she 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 of Rs 1.5 lakh 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 too.

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 the Aditya Birla Sun Life Term Insurance Plan?

Being one of the largest life insurance companies in India, ABSLI has multiple term insurance plans on offer. However, since there are multiple plans, you need to assess your own needs and see which plan suits you the best. Look for a proper duration, as well as an adequate coverage amount. Also, get a plan that is affordable to 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

ABSLI DigiShield Plan – It’s a comprehensive plan that comes with as many as 10 options for you to choose from. The cover can extend to as long as the 100th year of your life. Plus, you can choose from multiple death benefit options – lump sum, monthly income or a combination of both. The survival benefit is also applicable on attaining 60 years of age.

ABSLI Income Shield Plan – It’s a non-linked non-participating term insurance plan that ensures comprehensive financial protection at affordable premiums. You can choose from 4 plan options as per your protection needs. Besides, it comes with flexible premium paying terms and income benefit term. The riders of the plan will only help enhance your protection. There’s a special benefit women policyholders too. In case they deliver a baby during the policy term, they won’t need to pay the premium for one year.

ABSLI Life Shield Plan – The plan comes with 8 options, gives you the option to add your spouse to it, along with inbuilt terminal illness benefit. There’s a maturity benefit too! Yes, you can get back all your premiums paid by you in case you survive till the policy term.

ABSLI UltimaTerm Plan – This term plan comes with an option to raise your coverage at key milestones of life, gives protection cover for up to 50 years, and comes with both limited and regular premium payment terms. You can be as old as 85 years at the end of the policy term. While the minimum sum assured amounts to INR 10 lakh, there’s no maximum limit to it. The maximum amount will depend on how underwriters assess your case.

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

How Buying an Aditya Birla Sun Term Plan Will Make Your Family Safe?

As you can clearly see from the points mentioned above, a term insurance plan has many benefits for you. When you buy a term insurance plan from a reliable insurer such as The Aditya Birla Sun Life Insurance Company, you can 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 of 97.54% for FY 2019-20, 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 term insurance plan helps secure your family in your absence.

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