Aditya Birla Sun Life Insurance: Overview

Aditya Birla Sun Life Insurance Company or ABSLI, formerly known as Birla Sun Life Insurance Co. Ltd., started its operations in India on January 17th, 2001. The company is a joint venture between Aditya Birla Group, a global enterprise, and Sun Life Financial, one of Canada's top financial service organizations. It offers a range of products including wealth protection plans, health plans, retirement and pension solutions, children plans, unit-linked insurance plans (ULIPs), and traditional term plans. Aditya Birla Sun Life Insurance has a distribution network in over 500 cities with 560 branches and more than 140 partnerships with corporate agents, brokers, and banks. Moreover, Aditya Birla Life Insurance has a revenue of Rs. 15,069.69 Crore and a claim settlement ratio of 98.12% and managed to touch a substantial customer base of over 17 lakhs.

Aditya Birla Life Insurance ensures to look after your insurance needs by offering:

Whole life comprehensive coverage
Affordable premiums

Monthly income option
Tax benefits

Key highlights of Aditya Birla Sun Life Insurance

To get more insight into Aditya Birla Sun Life Insurance Company's performance, take a look at the below key highlights that will help you to analyze the company based on its performance:

Solvency Ratio

Aditya Birla Sun Life Insurance has a Solvency Ratio of 1.88 as per the IRDAI annual report 2024-25. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. As of now, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.

Best Selling Aditya Birla Sun Life Insurance Plans

To cater to the dynamic insurance needs of an individual and their family, Aditya Birla Sun Life Insurance comes with a range of plans. This allows their customers to choose an ideal plan for themselves. The company ensures to offer a plan for everyone.

Bajaj Allianz Savings Plan

Plan	Entry Age	Tenure	Minimum Sum Assured	Unique Features
Birla sunlife fixed maturity plan	8 years	Rs. 15000- no limit	Rs.15000	Policy loan Enhanced sum assured Tax benefit

Features of Aditya Birla Life Insurance

There are various features to Aditya Birla Life Insurance, Let's understand each of them in detail:

Wide range of options - There is one more important factor that should be checked while buying a life insurance plan from an insurance company. This factor is the ‘solvency ratio' of the company. The ratio provides insights into the financial background of the company by measuring its ability to meet long-term debt obligations and other monetary commitments. As per IRDAI, all life insurance companies in India are obliged to maintain a solvency ratio of at least 1.5. At present, the solvency ratio of the company is 1.9.
Flexible policy tenure and premium payment tenure - The main objective of buying a life insurance plan is to make sure that your loved ones can get financial support at times when they need it the most. It is important to pay attention to the claim settlement ratio of the insurance provider. This ratio shows the percentage of claims settled by an insurance company against the number of claims filed by the customers during a financial year. In terms of the claim settlement ratio, the company recorded a CSR of 99.01% during the financial year 2022-23.
Multiple premium payment options - The business reputation and growth of the insurance provider should be checked. For this, we should check the company's annual premium as it helps in analyzing the company's growth in terms of its annual premium of Rs. 14,445.03 Crores in the financial year 2022-23.
Market reputation - Aditya Birla Sunlife Insurance has a good market reputation making them a trusted and reliable insurance partner for their customers.

Aditya Birla Sun Life Insurance Life Plan

Birla sunlife fixed maturity plan

Aditya Birla Sunlife Fixed Maturity Plan is a non-linked, non-participating endowment product providing fully guaranteed benefits as a lump-sum on mat...

Unique Features

Tax Benefits u/s 80C & 10 (10D)
Single Premium
ZERO Withdrawal Charges

Birla sunlife fixed maturity plan (Pros)

Policy Loan
Surrender benefit
Guranteed maturity benefit

Birla sunlife fixed maturity plan (Cons)

Lack of Liquidity
Interest Rate Risk
Limited Flexibility

Birla sunlife fixed maturity plan (Other Benefits)

Enhanced Sum Assured
Tax benefit
Avail life cover

Birla sunlife fixed maturity plan (Eligibility Criteria)

Entry age-8 years
Sum assured- 15
000 to no limit
Policy term-5 to 10 years
Premium payment mode- single pay
Maturity age-70 years

Benefits of Aditya Birla Life Insurance

There are multiple benefits of Aditya Birla's Life Insurance. Read below to understand the plethora of advantages provided by the insurer.

Comprehensive Coverage

Aditya Birla's Life insurance plans list is long and all plans provide an overall coverage to meet various needs and suit various requirements.

Financial Security

The death benefit might be used to settle debts, make up for lost income, or fund schooling. Therefore, even after his passing, the policyholder's family will have financial security.

Flexibility and Customization

Aditya Birla's life insurance plans are very flexible in nature, as the customer can easily make modifications to the plans according to his needs. The policyholder can add riders, addon benefits or even can customize policy sum and tenure.

Professional Guidance

By providing policyholders with access to 24-hour customer care, the company helps them. The expert teams help the customers to buy plans, settle claims and help them with their queries.

How Much Term Cover Do You Need?

Aditya Birla Sun Life Insurance recommends a cover 10–15 times your annual income, customized for debts, future goals, and inflation. Use this formula:

(Annual Expenses×10)+Total Liabilities−Existing Assets/Insurance

Steps to calculate your cover:

Use the ABSLI Human Life Value (HLV) calculator.
Factor in inflation for rising costs.
Deduct any existing life insurance to find your coverage gap.

Who Should Get an Aditya Birla Life Insurance Policy?

Anyone who wants to secure their family’s financial future should consider an Aditya Birla Life Insurance policy. It is ideal for:

Breadwinners: Protects family income in case of unexpected death.
Parents: Covers children’s education, marriage, and future expenses.
Homeowners & Loan Holders: Ensures outstanding loans don’t burden the family.
Long-term Planners: Provides financial security and peace of mind through tailored term plans.
Anyone Seeking Adequate Protection: Offers flexible coverage that grows with needs and inflation.

Tired of Pushy Sales? Get Insurance, Your Way

Riders You Can Avail With Birla Sunlife Life Insurance Plans

Name of the Riders	Benefits
ABSLI Comprehensive Critical Illness Rider	This rider offers additional benefits and protection against up to 64 critical illnesses mentioned in the brochure.
ABSLI Waiver of Premium Rider	This rider waives future premiums if you are unable to pay in the event of financial difficulties.
ABSLI Accidental Death and Disability Rider	Offers additional benefits in case of accidental death and accidental disability.
ABSLI Critical Illness Rider	ABSLI Critical Illness Rider covers 4 major illnesses - first heart attack of specified severity, cancer of specified severity, stroke resulting in permanent symptoms, and major organ/bone marrow transplant.
ABSLI Accidental Death Benefit Rider Plus	In the unfortunate event of the death of the life insured due to an accident, 100% of the rider sum assured is paid to the nominee.

Documents Required to Purchase Aditya Birla Life Insurance Policy

Here is the list of documents required to buy Aditya Birla Life Insurance:

Photo ID Proof
Age Proof
Address Proof
Medical Records
Income Proof

Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy Aditya Birla Sun Life Insurance Plans?

Aditya Birla Sun Life Insurance allows you to buy life insurance plans via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying processes.

Step 1
Fill out the form given at the top of this page with the necessary details.
Step 2
Select your income and city. Click on 'Proceed'.
Step 3
Update your education and occupation details.
Step 4
Choose your preferred plan and click on 'Buy this plan'.
Step 5
Select the policy term, premium period, and riders (if required), and then proceed to make the payment. Once the payment is made, you will get a payment confirmation at your registered email address.

Step 1
Visit the Aditya Birla's Life Insurance official website and scroll down to the end of the page.
Step 2
Click on the 'Buy Online' tab under Popular Links.
Step 3
Click on the tab 'Know More' under the types of plans.
Step 4
Click on the tab 'Calculate' at the top right corner of the page.
Step 5
Fill in the required details, and click on the tab 'Calculate'. Once the payment is made, you will get a payment confirmation at your registered email address.

Why Choose PolicyX.com?

Don't just take our word for it - check out what our happy customers say about us!

All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.

Ravindra Singh

I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.

Priti varshney

I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.

Nisha Mary

I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.

Ajay Shah

PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.

Vijay Rathod

I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.

Uma Mahajan

How to File Aditya Birla Life Insurance?

Every claimant/nominee is assigned a dedicated Claims Relationship Officer who helps through the entire process. The life insurance claim Settlement process at Aditya Birla Life Insurance involves the following three steps:

Online Process

Claim Intimation

Inform the company about the incident via various channels-either by writing an email to Aditya Birla Life at claims@adityabirla.com, calling the toll-free number (1800-103-7766), filling out the online claim form on its website, or visiting the nearest branch. A claim reference number/intimation number will be provided to you upon successful registration of the claim.

Document Submission

You have to submit the necessary documents requested by the insurer to process the claim.

In case of natural death: death claim form, death certificate, original policy documents, claimant's identity & residence proof, medical records, and account details of the nominee.

In case of an accidental death: the same documents with two additional ones: FIR and post-mortem report.

Claim Settlement

Once Aditya Birla receives your claims they will verify all the details. Moreover, they can ask you for any additional documents if required. Aditya Birla will send you a claim reference number after verifying the submitted documents.

Offline Process

Aditya Birla's Insurance settlement procedure can be reported by visiting the local Branch Office. For the details of Aditya Birla's Life Insurance, you can visit their website and locate the nearest branch. You have to submit the essential documents at the branch so that your claim can be processed.

Exclusions of Aditya Birla Life Insurance

Death occurred due to pandemic such as covid-19 or ebola will not covered by the company.
Death, due to indulging in any type of adventure sports.
Death due to consumption of any type of drugs and alcohol.
Death due to any pre-existing disease that isn't mentioned during the start of the policy.
If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death benefit. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.If a policyholder commits suicide during the first 12 months after obtaining the insurance, the nominee receives no death payments. They receive just the premiums paid up to the date of the incident or the policy's surrender value, whichever is greater.

Conclusion

Aditya Birla Life Insurance is a strong contender for individuals looking for reliable life insurance solutions with a wide array of products, strong customer service, and flexibility. You can contact PolicyX.com at the toll-free number 1800-4200-269 or email us at helpdesk@policyx.com.

More Queries?

If you have any more queries regarding Aditya Birla Sun Life Insurance Plans, Renewals, or Claim Procedures, contact our insurance experts at:
1800-4200-269 now!

Explore more about Aditya Birla Sun Life Insurance

Birla Sun Life Insurance: FAQs

1. Is it possible to avail ECS (Electronic Clearing Service) facility for my Aditya Birla Sun life insurance plan?

Yes, it is possible to avail ECS facility for Aditya Birla Sun life insurance plan. You will be required to fill an auto-debit form and certify the same from your bank in which your bank account exists. This form will be then sent to the ABSLI branch and the process will take around 30 days to get activated. The ECS service can be enjoyed without paying any extra charges.

2. Is there any mobile application available for Aditya Birla Sun life insurance plans?

Yes, a mobile application named ’ABSLI mApp’ is available for Aditya Birla Sun life insurance plans.

3. Can I get a loan against my Aditya Birla Sun life insurance plan?

Yes, you can get a loan against Aditya Birla Sun life insurance plan on acquiring a surrender value. The minimum and maximum amount of the loan amount can be checked from your policy documents. Interest rates as declared by the company shall apply for the loan facility.

4. Can I pay a top-up premium for my Aditya Birla Sun Life Insurance ULIP plan?

Yes, you can. However, you are not allowed to make a top-up premium payment during the last 3 and 5 years of the policy tenure.

5. How to check the policy status of Aditya Birla Sun Life Insurance policies?

To check the policy status for your Aditya Birla Sun life insurance plan, you can call at the company’s toll-free number 1800 270 7000 or else write an email at care[dot]lifeinsurance[at]adityabirlacapital[dot]com Keep your policy details with you while calling the customer service.

6. What is EVA Benefit under my Aditya Birla Sun Life Insurance Income Shield Plan?

EVA Benefit under Aditya Birla Sun Life Insurance Income Shield Plan is an exclusive benefit specially designed for women, where the premiums are waived off for 1 year in case the life assured (woman) delivers a baby during the policy tenure.

7. What riders can I opt for in my Aditya Birla Sun Life Insurance Vision Star Plan?

Aditya Birla Sun Life Insurance Vision Star Plan offers the following 6 rider options for additional protection: ABSLI Accidental Death and Disability Rider ABSLI Critical Illness Rider ABSLI Surgical Care Rider ABSLI Hospital Care Rider ABSLI Waiver of Premium ABSLI Accidental Death Benefit Rider Plus

8. May I know how the ’Income Benefit Option’ works for my Aditya Birla Sun Life Insurance CritiShield Plan?

Under the ’Income Benefit Option’ of Aditya Birla Sun Life Insurance CritiShield Plan, 1% of the sum assured will be paid as a monthly income in major stages of cardiac or renal ailments. This option can be chosen during the inception of the policy and cannot be opted out once chosen.

9. My age is 33 years. Is there any medical test required to apply for Aditya Birla Sun Life Insurance Immediate Annuity Plan?

No, you do not need to go for medical tests to apply for Aditya Birla Sun Life Insurance Immediate Annuity Plan.

10. What are the different premium payment modes available under Aditya Birla Sun Life Insurance Jeevan Bachat Plan?

The different premium payment modes available under Aditya Birla Sun Life Insurance Jeevan Bachat Plan are Single, Annual, Semi-annual, Quarterly and Monthly.

11. What are the minimum eligibility requirements to buy an Aditya Birla Life Insurance policy?

To buy an Aditya Birla Sun Life Insurance policy, one should be at least 18 years old and should be below 56 years. Moreover, the applicant should be self-employed, salaried, professional, or a business owner.

12. What is the procedure for generating an e-receipt for my Aditya Birla Life Insurance policy?

To generate an e-receipt, simply go to the Aditya Sun Life Insurance official website and click on the link for the premium paid certificate. You have to fill in all of the required details and the generated e-receipt will be sent to your registered e-mail address.

13. What is a Free-Look Period offered by Aditya Birla Sun Life Insurance Company Limited?

Birla Sun Life Insurance Company Limited offers 15 days free-look period in which the customer may return the policy within 15 days of receiving the documents if he or she does not agree with the policy’s terms and conditions.

14. Can I take a loan against a policy offered by Aditya Sun Life Insurance?

You can take a loan against the plan once it has reached the surrender value. The loan amount is determined by the insurer based on the type of policy.

15. What are the requirements to add a rider in a policy offered by Aditya Birla Sun Life Insurance Company Limited?

You need to submit a letter to the insurer to add a rider to the policy.

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