Aditya Birla Sun Life Insurance Review

Aditya Birla Sun Life Insurance offers a wide range of insurance policies that provides financial protection with guaranteed benefits and wealth boosters. The company also offers a 5% discount on the online purchase of its policy. These life insurance plans have wide policy terms and extensive sum assured coverage along with optional add-on riders such as critical illness, accidental death rider, surgical care rider, hospital care rider and waiver of premium rider. These policies also offer whole life coverage up to 100 years.

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Aditya Birla Sun Life Insurance

4.5

Our ratings take into account a product's rewards, fees, rates and other category-specific attributes. All ratings are determined solely by our editorial team.

Claim Settlement Ratio

98.07% (FY 2021-22)

Life cover till the end of the policy term

Joint Life Cover Option

Inbuilt Terminal Illness

Claim Settlement Ratio

98.07% (FY 2021-22)

Life cover till the end of the policy term

Joint Life Cover Option

Inbuilt Terminal Illness

Pros & Cons

• Whole life coverage for certain policies.
• Huge range of life insurance products with a variety of payout options.
• Discount of up to 5% for online purchase.
• Smooth website navigation and clear readability.
• Availability of multiple add-on riders.

• No special discount for women policyholders.
• All the plans do not cover Covid-19 claims.

ABSLI Fixed Maturity Plan

Key Features:

• Life coverage and policy surrender benefits.
• Guaranteed maturity benefits.
• Single premium policy.
• Loan against policy.
• Flexibility to opt for policy terms and change investment amount.
• Minimum annualized premium is INR 12,000.
• Minimum sum assured is INR 15,000.
• NRI customers can also buy this policy.

ABSLI Assured Savings Plan

Key Features:

• Guaranteed maturity benefits.
• Loyalty additions that enhance the maturity corpus.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness riders.
• Lump sum payout at policy maturity.
• Minimum annualized premium is INR 1 lakh.
• Flexibility to cover your spouse under joint life protection.

ABSLI Assured Income Plus

Key Features:

• Receive death, maturity and survival benefit.
• Guaranteed returns on the investments.
• Receive long-term regular income for 20, 25 or 30 years.
• Flexibility to choose benefit payouts from income only benefit or income with lump sum benefit option.
• Loyalty additions that enhance the maturity corpus.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness riders.

ABSLI Vision Life Income Plus Plan

Key Features:

• Life coverage up to 100 years.
• Receive death, maturity and survival benefit.
• Guaranteed regular income and receive bonus payouts.
• Option to receive benefits as short-term, long-term and whole-life income.
• Minimum annualized premium is INR 50,000.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness riders.

ABSLI Secure Plus Plan

Key Features

• Guaranteed regular income.
• Receive death, maturity and survival benefit.
• Loyalty additions that enhance the maturity corpus.
• Option to receive a discounted value of survival benefits as a lump sum.
• Minimum sum assured is INR 3,50,000.
• Minimum annualized premium is INR 50,000.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness riders.

ABSLI Guaranteed Milestone Plan

Key Features

• Life coverage with guaranteed financial benefits on death and maturity.
• Option to cover your spouse under the same plan.
• Receive death and maturity benefits.
• Receive 100% of the sum assured in 10 equal annual installments as death benefit, if the life insured dies during the policy term.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness rider, surgical care rider, hospital care rider, waiver of premium rider.

ABSLI Assured Flexi Savings Plan

Key Features:

• Receive death, maturity and survival benefit.
• Receive guaranteed returns with unlimited withdrawals facility.
• Wealth boosters up to 5%.
• Flexibility to choose between benefit options such as: income only benefit, income benefit with return of premium.
• Loyalty additions that enhance the maturity corpus.
• 10% extra benefit on total premiums paid.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness riders.
• Minimum annualized premium is INR 50,000.
• Minimum sum assured is INR 5,50,000.

ABSLI Vision Money Back Plus Plan

Key Features

• Dual benefits of endowment and whole life plan.
• Receive regular income with life cover against any unfortunate event.
• Guaranteed regular payouts on maturity and survival.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness rider, surgical care rider, hospital care rider, waiver of premium rider.

ABSLI Vision Life Income Plan

Key Features:

• Whole life coverage up to 100 years.
• Receive regular income for lifetime.
• Receive death, maturity and survival benefit.
• Minimum sum assured is INR 50,000.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness rider, surgical care rider, hospital care rider, waiver of premium rider.

ABSLI Savings Plan

Key Features:

• Guaranteed benefits for the first five years of policy.
• Receive bonus from the first policy year.
• Flexibility to choose life cover and policy terms.
• Receive death and maturity benefits.
• If one does not pay premiums after two full policy years, then their policy will not lapse and will continue on a reduced paid-up basis.
• Avail loan against the policy.
• May receive a terminal bonus on death, surrender or maturity, if any.
• There is no rider benefit.

ABSLI Vision Life Secure Plan

Key Features:

• Life cover of up to 100 years.
• Receive bonus from the first policy year.
• Flexibility to choose life cover and policy terms.
• Receive death and maturity benefits.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness rider, surgical care rider, hospital care rider, waiver of premium rider.
• Minimum sum assured is INR 2 lakh.
• Minimum annualized premium is INR 12,000.

ABSLI Income Assured Plan

Key Features:

• Receive guaranteed benefits at all the stages of life.
• Receive regular monthly income just after the premium paying term.
• Get Guaranteed additions till maturity.
• Receive death and maturity benefits.
• Minimum sum assured is INR 1 lakh.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness rider, surgical care rider, hospital care rider, waiver of premium rider.
• Accrued assured income is payable on death or maturity, gets increased to following percentage:

ABSLI Vision Endowment Plus Plan

Key Features:

• Receive accrued regular monthly bonuses.
• Receive death and maturity benefits.
• The policy term is 10 to 40 years.
• Minimum sum assured is INR 1 lakh.
• Minimum annualized premium is INR 2,495.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness rider, surgical care rider, hospital care rider, waiver of premium rider.

ABSLI Life Shield Plan

Key Features

• Option to choose from eight different plan options.
• Increase insurance cover at major life stages.
• Return of premium (RoP) facility pays back all the premiums paid.
• Option to purchase the policy both online and offline.
• Flexibility to choose from three payout options: Lump sum payment, staggered payment with fixed annual income, staggered payment with increasing annual income.
• Apart from death benefit, the policyholder is also entitled to receive terminal illness benefit, waiver of premium, maturity benefits, joint life cover and enhanced life protection.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness rider, surgical care rider, hospital care rider.

ABSLI Digi Shield Plan

Key Features

• Option to choose from ten different plan options.
• Whole life coverage up to the age of 100 years.
• Receive death benefit as monthly, lump sum or both.
• Option to receive monthly income.
• The policyholder can receive a survival benefit post 60 years of age.
• Apart from death benefit, the policyholder is also entitled to receive terminal illness benefit, waiver of premium, maturity benefits, joint life cover and enhanced life protection.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness rider, surgical care rider, hospital care rider.
• Minimum sum assured ranges from INR 1 lakh to INR 30 lakh.

ABSLI Saral Jeevan Bima

Key Features

• Low cost-effective term plan option.
• Flexibility to opt for the policy term from five year to 40 year.
• Flexibility to choose sum assured coverage amount.
• Flexible premium payment: one-time, limited period, or throughout the policy term.
• Accidental death benefit rider option is available at extra cost.

ABSLI Empower Pension Plan

Key Features

• Flexibility to choose from two plan options: Assured and self-managed options.
• Any individual aged between 25 years to 70 years can purchase this policy.
• Option to choose vesting date. Vesting date is the time from which one starts receiving their policy benefits.
• Receive guaranteed benefits and loyalty additions.
• Receive death and surrender benefits.
• Regular pay plan where premiums are paid every year till one decides to vest.

ABSLI Empower Pension – SP Plan

Key Features

• Single premium policy.
• Guaranteed additions that boost the corpus.
• Flexibility to choose from two plan options: Assured and self-managed options.
• Receive death and surrender benefits.
• Any individual aged between 25 years to 70 years can purchase this policy.
• Minimum single premium is INR 1 lakh.

ABSLI Saral Pension

Key Features

• Single premium individual immediate annuity plan.
• Receive guaranteed regular income for life-time.
• Multiple payout options.
• No need for undergoing any kind of medical tests.
• Flexibility to choose from two plan options: Life annuity with RoP option and joint life annuity with RoP option on the death of policyholder, which means there is an option to receive annuity payments for as long as the policyholder or their spouse are alive.
• There is no maturity benefit.
• Receive death and surrender benefits.
• No rider is available with this plan.

ABSLI Guaranteed Annuity Plus

Key Features

• Receive guaranteed regular income for life-time.
• Flexibility to receive annuity payouts from ten plan options.
• Option to enhance annuity through top-up facility.
• Accumulation period ranges from five year to 15 year under a limited pay option.
• Receive survival, death and surrender benefits.
• Minimum annuity amount is INR 10,000 per year.

ABSLI Cancer Shield Plan

Key Features

• Provides coverage to all the stages of cancer.
• Receive 5% discount on online purchase.
• If the policyholder gets diagnosed with cancer, then they get the claim amount by submitting the diagnosis report.
• If the policyholder gets diagnosed with early-stage cancer, then the premium gets waived off for five years.
• Flexibility to increase the sum assured by 10% for ten years if no claim is filed.
• Option to receive monthly income if diagnosed with major cancer.
• Minimum policy term is five years, and the maximum is 50 years.

ABSLI Criti Shield Plan

Key Features

• Covers early to major stage cardiac and kidney conditions.
• Option to choose level or increasing cover.
• Five years premium waiver on the diagnosis of early-stage cancer.
• Receive monthly income for five years on major stage diagnosis.
• Offers a payout of 30% of the sum assured on early stage conditions and 100% of the sum assured on major stage conditions.

ABSLI Vision Star Plan

Key Features

• Provides payouts at regular intervals.
• Multiple options for assured payouts.
• Flexibility of premium paying and policy terms.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness rider, surgical care rider, hospital care rider.
• Receive maturity benefit along with the accrued bonus till date and terminal bonus, if any.
• If one does not pay premiums after two full policy years, then their policy will not lapse and will continue on a reduced paid-up basis.

ABSLI Child Future Assured Plan

Key Features

• Offers assured payouts and benefits covering education milestone, marriage milestone and education milestone.
• Flexibility of premium paying and policy terms.
• On paying all the due premiums, 20% loyalty addition is added to the assured benefits.
• Receive death and maturity benefits.
• Maturity benefit is the amount equivalent to assured benefit which is payable at the end of the policy term.
• Option to enhance insurance cover equal to 50% or 100% or 200% of the sum assured, by paying an additional premium.
• Flexibility to enhance the coverage from riders such as accidental death and critical illness rider, surgical care rider, hospital care rider.

ABSLI Smart Growth Plan

Key Features

• Provides life cover.
• Option to choose from 16 fund options and five investment strategies such as:

1. Systematic transfer investment.
2. Return optimizer investment.
3. Smart investment option.
4. Life-cycle investment option.
5. Self-managed investment option.

• Flexibility to switch between all funds at no extra cost.
• Offers wealth boosters and loyalty additions.
• Receive return of mortality charges at maturity.
• Minimum annualized premium is INR 15,000.
• Minimum sum assured is INR 1,50,000.

ABSLI Wealth Infinia

Key Features

• Offers wealth boosters and loyalty additions.
• Return of mortality and policy administration charges at maturity.
• Provides systematic withdrawal facility to enable withdrawals at no extra cost.
• Option to choose from 16 fund options and five investment strategies.
• Provides death and maturity benefits.
• Optional riders such as waiver of premium and accidental death benefit rider.

ABSLI Wealth Assure Plus

Key Features

• Two plan options to choose from: classic and assured option.
• Offers wealth boosters and loyalty additions.
• Return of mortality and policy administration charges at maturity.
• Option to choose from 16 fund options and five investment strategies.
• Provides death, maturity and surrender benefits.
• Optional riders such as waiver of premium and accidental death benefit rider.

ABSLI Wealth Max Plan

Key Features

• It is a single premium policy.
• Offers wealth boosters and loyalty additions.
• Return of mortality and policy administration charges at maturity.
• Option to choose from 16 fund options and five investment strategies.
• Option to top-up the sum assured coverage up to INR 5,000.
• Provides death, maturity and surrender benefits.

ABSLI Wealth Secure Plan

Key Features

• Offers whole life coverage.
• Option to choose from 16 fund options and three investment strategies such as:

1. Life-cycle investment option.
2. Self-managed investment option.
3. Systematic transfer option.

• Option to top-up the sum assured coverage up to INR 5,000.
• Provides death, maturity and surrender benefits.
• Offers wealth boosters and loyalty additions.

ABSLI Fortune Elite Plan

Key Features

• Option to choose premium payment terms and policy terms.
• Flexibility to withdraw funds partially.
• Option to choose from 16 fund options and three investment strategies.
• Provides death, maturity and surrender benefits.
• Optional riders such as waiver of premium and accidental death benefit rider.
• Minimum annualized premium is INR 40,000.
• Option to top-up the sum assured coverage up to INR 5,000.

ABSLI Wealth Aspire Plan

Key Features

• Option to choose from two different plan options.
• Flexibility to withdraw funds partially.
• One can choose from four investment strategies:

1. Smart option
2. Self-managed investment option.
3. Systematic transfer option.
4. Return optimizer option.

• Option to top-up the sum assured coverage up to INR 5,000.
• Offers wealth boosters and loyalty additions.
• Receive death, surrender and maturity benefits.

ABSLI Group Protection Solutions

• Lump-sum death benefit payout
• The sum assured coverage varies as per employees’ grade or their salary levels.
• Under the group protection plan, there is an option to choose from level cover or increasing cover.
• Optional riders such as waiver of premium and accidental death and disability, critical illness plus and premiere rider, term rider.
• Terminal illness cover is an inbuilt feature.

ABSLI Group Income Replacement Plan

Key Features

• Provides regular and steady income benefits with multiple options.
• Any new member can be added by paying a pro-rata premium.
• Master policyholders can increase or decrease the cover amount of the members.
• The sum assured coverage varies as per employees’ grade or their salary levels.
• Offers regular income in case of any diagnosis of critical illnesses or any accidental disability.

ABSLI Pradhan Mantri Jeevan Jyoti Bima Yojana

Key Features:

• This plan is only offered to the banks.
• Provide life insurance cover of INR 2 lakhs to bank’s savings account holders.
• Low and cost-effective policy.
• Annually renewable.
• Policy period is applicable from June 1 to May 31 of the following year.

ABSLI Group CapSecure Plan

Key Features

• This plan covers gratuity, leave encashment and after retirement medical schemes.
• Guaranteed returns where the interest on the investment is declared at the end of every quarter.
• Get life cover of INR 5,000 for all insured employees.
• Flexibility to surrender the policy at any given time and receive surrender benefits.

ABSLI Group Capital Assured Traditional Plan

Key Features:

• Helps employers to create a corpus to pay gratuity benefits to their employees.
• This plan covers gratuity, leave encashment and after retirement medical schemes.
• Guaranteed returns where the interest on the investment is declared at the end of every quarter.
• Policy has an in-built life cover of INR 1,000 for every member for superannuation schemes and INR 5,000 per member for other schemes.
• Flexibility to surrender the policy at any given time and receive surrender benefits.

ABSLI Group Unit Linked Plan

Key Features

• Helps employers to create a corpus to pay gratuity benefits and leave encashment benefits to their employees.
• Multiple fund options for investment purposes.
• Offers unlimited switches between funds at zero cost.
• Offers death benefit to the nominee in case of the death of the insured employee.
• Easy management of investment portfolio, fund switches, performance of the funds via web service.

ABSLI Group Value Plus Plan

Key Features:

• Helps employers to create a corpus to pay gratuity benefits and leave encashment benefits to their employees.
• Multiple fund options for investment purposes.
• Option to choose from “self- managed” or “market cycle” option.
• Offers death benefit to the nominee in case of the death of the insured employee.

ABSLI Assured Pension Plan

Key Features:

• Help the employer to accumulate funds required to pay lifetime pension to their employees.
• Investment done with an opportunity to earn maximum returns.
• Employees receive assured benefits on death or retirement.
• Offers death benefit to the nominee in case of the death of the insured employee.

ABSLI Group Superannuation Plan

Key Features

• Help the employer to pay lifetime pension to their employees.
• Assured benefits upon death or retirement.
• Option to choose from self-managed or life cycle options as portfolio strategy.
• Allows to make systematic investments for the employees.
• Manages portfolio, track the performance of the funds, make switches between the funds with online facility.
• The policyholder will receive the surrender benefits.

• Notify the insurance company about the death of the policyholder, if you are their beneficiary.
• The beneficiary will have to download the form from the company’s website and fill in the claim application form with other required documents.
• Once the form is submitted, the insurance company will verify the documents to register the claims and will provide the payouts as per the policy conditions.

For Forbes Advisor India ratings, we reviewed all the life insurance plans of Aditya Birla Sun Life Insurance on the basis of the following metrics:

• Ease of access (20% of score)
• Sum assured coverage (30% of score)
• Policy tenure (10% of score)
• Claim settlement ratio (20% of score)
• Relevant benefits and riders (20% of score)