About Aditya Birla Sun Term Insurance
Aditya Birla Sun Life Insurance Company Limited is a leading life insurance company when it comes to the private sector in India. It is a subsidiary of Aditya Birla Capital Ltd and is promoted by Sun Life Financial Inc. of Canada and Aditya Birla Group of India. Aditya Birla Sun Life Insurance Company Limited is the first company to introduce the concept of a free look period, even before the IRDAI made it compulsory. Aditya Birla Sun Life Insurance offers 3 term insurance plans. These plans help the life assured to provide financial security for the unfortunate events that may threaten his family’s financial stability.
Aditya Birla Sun Life Term Insurance Plans
Aditya Birla Sun Life offers 3 term plans at an affordable cost and high sum assured. The details of the plans are as follows:
- ABSLI Life Shield Plan
- ABSLI DigiShield Plan
- ABSLI Saral Jeevan
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Claim Process at Aditya Birla Sun Life Term Insurance
Claim IntimationIn the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
Submission of DocumentsClaim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
Claim EvaluationOnce the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
Claim SettlementIf claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.
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FAQ About Aditya Birla Sun Life Term Insurance
What Term Insurance plans does Aditya Birla Sun Life Insurance offer?
Under the Term insurance category, Aditya Birla Sun Life offers five plans namely- Aditya Birla Sun Life Insurance Premium Back Term Plan, Aditya Birla Sun Life Insurance Future Guard Plan, Aditya Birla Sun Life Insurance Protection Plus Plan, Aditya Birla Sun Life Insurance Protection Easy Plan and Aditya Birla Sun Life Insurance Easy Protect Plan.
What is the grace period under Aditya Birla Sun Life Term plans?
According to the Insurance Regulatory Authority of India (IRDAI) regulations, a grace period of 30 days is allowed from the premium due date under the Aditya Birla Sun Life Term plans.
When is the right time to purchase the Aditya Birla Sun Life Term insurance plan?
The best time to buy an Aditya Birla Sun Life term insurance plan when you’re young and in relatively good health. This will help you to get your premium at an affordable rate.
What is the claim settlement ratio of Aditya Birla Sun Life insurance?
Aditya Birla Sun Life insurance has a claim settlement ratio of 97.54% for the financial year 2019-20.
What happens when my Aditya Birla Sun Life term policy expires?
When the policy expires, and the life assured is alive then no death benefits are paid but if she/he dies then the cover is paid to the beneficiary/nominee.