Aditya Birla Sun Life Insurance (ABSLI) is one of India’s leading life insurance companies, offering its customers affordable and reliable financial protection through its term insurance plans. Let’s explore in detail how to get term insurance from Aditya Birla Sun Life Insurance, its benefits, and the complete application process.
What is term insurance?
Term insurance is a simple and affordable form of life insurance. It provides financial protection for a fixed period (such as 10, 20, or 30 years). If the policyholder unfortunately dies during this period, the insurance company pays a pre-determined sum assured to their nominee.
Its primary purpose is to protect dependents from financial hardship, ensuring they have easy access to education, daily expenses, or debt repayments.
It is cheaper than other insurance policies because it only covers risk, with no investment component. If the policyholder survives the policy term, there are no payouts. It is an essential safety net for young and financially responsible individuals.
Introduction to Aditya Birla Sun Life Insurance Company
Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a joint venture between Aditya Birla Capital Limited and Sun Life Financial Company of Canada. The company was formed in 2000 and is today one of India’s leading insurance companies. The company’s specialty lies in its ability to offer insurance plans for every segment of the population – whether salaried individuals, businessmen, or homemakers.
Features of Aditya Birla Sun Life Term Insurance
ABSLI’s term plan offers several significant benefits:
- Life coverage up to ₹1 crore at a very low premium
- Flexible payment options—monthly, quarterly, annually, or lump sum
- Up to 10–13% discount on online purchases
- Worldwide coverage—protects even those living outside India
- Claim settlement ratio over 97%
- Option to add health and accident riders
Step-by-Step Process to Buy Term Insurance with ABSLI
1. Visit the official website
First, open lifeinsurance.adityabirlacapital.com. Go to the “Term Insurance” section and select the “Buy Online” option. This will display a list of term insurance plans.
2. Enter personal information
Enter your name, date of birth, mobile number, email ID, annual income, occupation, and educational information. This information determines premium calculation and eligibility.
3. Determine coverage amount and term
Choose the sum assured and policy term based on your income, age, and financial responsibilities. People typically purchase coverage for 20 to 40 years.
4. Use the Premium Calculator
Use the ABSLI Term Plan Calculator 2025. This tool estimates the correct premium based on your age, coverage amount, and policy term.
5. Add Riders
For greater financial security, you can add add-on options like the Critical Illness Rider, Accidental Death Benefit Rider, and Waiver of Premium.
6. Fill Out the Application Form
The Proposal Form contains the nominee’s details, medical history, occupation, and other important information.
7. Upload Documents
- Identity Proof: Aadhaar, PAN, Passport, or Voter ID
- Address Proof: Electricity Bill, Passport, or Aadhaar
- Income Proof: ITR, Salary Slip, or Bank Statement
- Age Proof: Birth Certificate or 10th Class Marksheet
- Photo: Recent Passport-Size Photo
8. Medical Examination
The company may conduct medical tests based on the coverage amount or age. These may include blood tests, ECG, TMT, etc.
9. Premium Payment
Pay the first premium using net banking, UPI, credit, or debit card. Timely payments keep the policy active.
10. Policy Verification and Issuance
After verifying all documents and medical reports, the company will send your policy by email or post. This usually takes a few days.
Top Term Plans of Aditya Birla Sun Life Insurance Company
| Plan Name | Features |
| ABSLI DigiShield Plan | 10 different options, increasing income benefit, coverage up to 85 years |
| ABSLI Saral Jeevan Bima | Basic term plan with low premium, for those aged 18–65 years |
| ABSLI Life Shield Plan | Family protection with accident and disability riders |
| ABSLI Super Term Plan | Return of Premium option, 100% premium refund |
Eligibility Criteria
- Minimum Age: 18 years
- Maximum Age: 65 years
- Resident: Both Indians and NRIs are eligible (subject to certain conditions)
- Policy Term: 10 to 40 years
- Minimum Coverage: Starting at ₹25 lakh
Benefits of ABSLI Term Insurance
- Affordable Premium Rate: Cover of ₹1 crore is available for ₹400–₹500 per month.
- Easy Online Process: Buy from the comfort of your home.
- Premium Return Option: Premium return feature is available in the plan.
- Tax Benefits: Deduction under Sections 80C and 10(10D).
- Free-Look Period: Opportunity to change or cancel the policy within 15 days of receiving the policy.
- Policy Revival: Option to revive within 5 years in case of default.
Tips for Choosing the Right Plan
- Estimate your income and financial responsibility.
Coverage should be at least 10–15 times your annual income. - Choose riders wisely.
Adding riders increases overall protection but slightly increases the premium. - Compare online.
Compare on platforms like PolicyX and PolicyBazaar to find the most affordable and suitable plan. - Provide accurate health and lifestyle information.
Providing incorrect information may result in claim rejection.
Conclusion
Buying term insurance from Aditya Birla Sun Life Insurance Company is a transparent, secure, and completely digital process. ABSLI’s term plans not only protect your family from unexpected hardships but also ensure tax benefits and future stability. Whether you are a new earner or the head of the family, choosing the right plan and the right coverage can ensure your family’s financial security.