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Birla Sun Life Insurance Company Overview
Birla sun life insurance company Limited, together with its helpful operates as a life insurance company in India.
It covers health, wellness, motor, and travel insurance products; savings with protection, children’s future retirement, and wealth with protection; and individual and group riders, group, and rural solutions.
Aditya Birla sun life insurance company also provide traditional term plans and unit-linked insurance plans.
In addition, the company engages in the management of retirement funds.
Birla sun life insurance provides products through individual agents, corporate agents, banks, brokers, and other intermediaries.
History of Aditya Birla Company:
The company was also known as Birla Sun Life Insurance Company Limited and the change in name took place to Aditya Birla Sun Life Insurance Company Limited in August 2017.
The establishment of the company was in 2000 and is headquartered in Mumbai, India. Aditya Birla Capital Limited.
Aditya Birla sun life insurance help save your family’s future and provide financial support for your child’s education, wealth with protection solutions, health and wellness solutions, retirement solutions.
Savings with protection solutions to help you stay financially safe in the future with small disciplined savings at regular intervals.
Birla sun life insurance put people’s needs first and ambitions to protect what is dear to the customer, with assurance.
Aditya Birla Sun Life Insurance, the property holding company, is a universal financial solutions provider and one of the largest financial services players in India.
It is committed to serving the end-to-end financial requirements of its retail and corporate customers under a unified brand- Aditya Birla Capital.
Delivering a huge range of money solutions for protection, investing and financing, Aditya Birla Capital serves millions of fo customers across the country.
Apart from life insurance, Aditya Birla Sun Insurance has a significant presence beyond several business sectors including NBFC, asset management, health insurance management, broking, online personal finance management, and pension fund management.
Birla Sun Life Insurance Company has a vast population network of almost 600 branches across India reaching out more than 1500 towns.
Birla Sun Life Financial is a Canadian based financial services .
Also read: SBI Life Insurance
Highlights Of Aditya Birla Sun Life Insurance
- Aditya Birla Sun Life Insurance invent the launch of Unit Linked Insurance Plans.
- Aditya Birla Sun Life Insurance has a policy of disclosing their portfolio on a monthly basis to establish its credibility and add additional transparency.
- They rank between the top seven private sector life insurance companies in India was conferred with ‘Good Corporate Citizen Awards ‘ for the year 2009-10 in Mumbai under the Banking and Financial Institutions category.
- Aditya Birla Sun Life has a nation-wide distribution presence through 433 branches, 6 bancassurance partners, 7 distribution channels.
Benefits of Birla Sun Life Insurance
- Multiple plans: Birla Sun Life Insurance cover you a host of life insurance.
- Products- Life Insurance, Endowment policy, ULIP, Money Back Life Insurance, and whole Life Insurance.
- Flexible Premiums: You can enjoy flexibility in paying premiums by opting for monthly or yearly premium paying option.
- Payouts and Benefits: You can opt for yearly Income or Lump sum benefit payout option.
Exclusions of Birla Sun Life Term Plan
- Any incomplete or total disability because of taking part in any dangerous sport or other activities like hunting, mountaineering, racing, bungee jumping, etc is not covered.
- Self-inflicted injury, suicide or attempted suicide is not offered.
- Service in any military, air force, the naval or paramilitary company leading to disability, injury, or death is not covered.
- The insured receiving part in any strike, industrial dispute, riot, war, civil commotion, invasion, terrorism, hostilities, nuclear reaction, biological or chemical contamination, etc. is not provided.
Also read: Max Life Insurance
Birla Sun Life Insurance Plans
The Birla Sun Life Insurance has different types of plan, that’s under classified as:
1. Term Insurance Plans
- Birla Sun Life Insurance- Protect @ Ease Plan Review
- Highlights of the Birla Sun Life Insurance-Protect @ Ease Plan
This is a pure Term Assurance plan which is available Online.
The plan comes in two development of level term insurance and increasing term insurance.
The death advantage can be taken in year incomes instead of one lump sum.
- Working of the Birla Sun Life Insurance-Protect @ Ease Plan
The customer chooses the Sum Assured, the plan type, premium paying term, and the plan tenure.
Premium is payable for the complete tenure of the plan or in one lump sum under the Single Pay option of Premium Payment.
There is an easy buying of this plan.
2. Health Plans
- Hospital Plus Plan
The Aditya Birla Sun Life Insurance Hospital Plus Plan covers a fixed cash amount in the event of hospitalization.
You can supplement your policy by mitigating additional cost with a flexibility of choosing from 4 benefit options to suit your requirements.
- Health and Wellness Plans
The Aditya Birla Health solutions are specifically curated to offers quality treatment for the insurer’s family with an adequate sum offering hospitalization, major illnesses, and accidental injuries.
3. Money Back Plan
This plan gives you the advantage of the money back policy.
Its traditional plan which also meets your financial need and life cover to meet andy unexpected danger.
Some of its features are listed below:
|Entry age||13 years.||45 years|
|Policy term||20\25 years.||25 years|
|Sum assured||Rs. 1,00,000.||No |
Premium Payment Term
|10 years for 20 years plan|
12 years for 24 & 25 years plan
|Premium Payment Frequency||Yearly, half-yearly, quarterly, monthly. |
Also read: HDFC Life Insurance
4. Endowment Plans
This plan assures you that your savings are absolutely secure and moreover it starts giving you growth in your savings with the accrued bonus from the first year itself.
Some of its features are listed below:
|Entry age||1 year.||55 |
|Policy term||20 years.|
|Sum assured||Rs. 1,00,000.||No |
Premium Payment Term
|Premium Payment Frequency||Yearly, half-yearly, quarterly, monthly. |
- Guaranteed Future Plan
A unique plan designed to help you meet your responsibilities for certain major milestones of your life such as children education, marriage, exotic family holidays etc.
- Entry age- 18 days – 50 years
- Sum Assured amount-10* Annual Premium
Birla Sun Life Insurance Visual Plans:
- Vision Endowment Plus Plan
- Entry age- 30 days – 60 years
- Minimum Sum Assured amount-1,00.000/-
- Vision Regular Return Plan
This plan is a traditional participating endowment plan. With survival benefits payable every year from 5th policy anniversary till maturity and life insurance benefit, this plan covers a perfect combination of liquidity, savings and financial protection of your family.
- Entry age- 13 days – 45 years
- Minimum Sum Assured amount-2,00.000/-
- Income Assured Plan
This plan is of a traditional nature covering savings and protection.
It gives assured income benefits payable from the comes with monthly income and financial security.
- Savings Plan
This plan not only allows you to regularly save money and also helps it grow over time.
This plan allows you to have mental satisfaction and peace to meet your future financial needs.
There are different types of features under classified as:
- Entry age -18years-50 years
- Minimum Sum Assured amount-30,000/-
- Access to a rider at nominal extra expenses.
- Comprehensive financial protection the family with whole life covers up till age 100.
- 5% of the sum assured bonus every year after premium paying term.
- Vision Life Income Plan
The vision life-income plan having different features under classified as:
- Entry age- 18 years- 55year.
- Complete financial solution and that too at affordable expenses.
- Two plans options to your need.
- Minimum Sum Assured amount-50000000/-
- Death Benefit Available -In case of demise of the insured the sum assured applicable shall be paid to the nominee.
5. Pension Plans
- Empower Pension Plan
Empower Pension Plan designed to ensure that one remains in control of the non-earning phase of one’s life.
It is basically a unit linked, non-participating retirement plan an helps you focus on your goals enhance your savings.
- Entry age- 25 years- 70 years.
- Death benefit- Permanent death benefit/Fund value as on date of intimation or accumulation of all basic premiums paid or accumulation or all basic premiums paid till date at a compounding guaranteed rate
- Immediate Annuity Plan
Birla Sun Life Insurance Annuity Plan enables you to convert your savings or lump sum amounts into an instantly guaranteed lifetime
6. Child Insurance Plan
As the minor grows up and looks for success in this fast-paced world, he will always look to you for support and inspiration.
Hence you will need a plan that gives your minor the confidence to pursue and discover his\her real passion.
- Entry age- 18 years- 55 years.
- Sum Insured Amount -1,00,000/-
- Maturity Bonus- Accrued bonus till date + Terminal Bonus
7. Wealth With Protection Plans
Aditya Birla Life Wealth with Protection plans covers a sizeable life insurance cover to help you save money regularly for the future.
Max Plan: A individual premium unit linked insurance plan which gives you the flexibility to add top-ups whenever you have additional savings and flexibility of partial withdrawals to meet any emergency fund requirements.
Secure Plan: Secure Plan: Aditya Birla Sun Life Insurance Wealth Secure Plan combines long-term savings and whole life coverage.
It requires you to pay a premium for a limited term which entitles you a cover for whole life.
Assure Plan: A protection and savings plan that ables to your wealth to grow steadily over time.
This investment cum insurance plan allows you partial withdrawals in emergency situations and also lets you add top-ups when you have additionals savings.
Also read our blog on Exide Life Insurance
Documentation required to apply for an Aditya Birla Sun Life Insurance Policy:
Every policy is taken for different types of requirement, therefore documentation for your policy will vary according to the type of plan applied for.
The initial documents includes:
Duly filled applicable proposal form and photographs.
Know Your Customer documents i.e. Address Proof and Identity proof.
Permanent Address Proof, Identity Proof, Age Proof, and Income Proof should be self-attested at the time of submission.
Note: A Standard requirement of an identity and address proof is mandatory for applying for a life insurance policy.
The following documents are considered valid:
- Aadhar card, a biometric, digital and physical identity system.
- Indian passport or an Overseas Passport.
- Electoral Photo Identity Card issued by the Election Commission of India.
- Overseas Citizenship of India Document.
- Person of Indian Origin Card.
- Permanent account number card.
- Driving license in India issued by the states.
- Ration card issued by the Government of India.
- Identity Certificate for non-city
Birla Sun Life Insurance Online Payment
Premium payments through cash, cheque, DD are accepted across Aditya Birla Sun Life insurance branches.
In addition to this, premium payments through credit/debit card are accepted at selected locations.
Look out other list of branches that accept payments through cards.
- Cash payments are accepted up to Rs. 49,999/-only.
- Cheque/DD requirement to be in favor of Aditya Birla Sun Life Insurance Company Ltd. policy No. XXXX-XXXX.
- DD requirement to be accompanied with a DD declaration. Click here to know more.
- Third party payment norms would be applicable while taking payments.
Birla sun life insurance policy status (Policy in Premium Paying Status)
- Online premium Payment is allowed via our website and Mobile site.
- Premium payment can be done via quick links” Pay Premium option” by using policy number and insured Date Of Birth.
- The client can also login to my insurance and pay the premium.
Birla Sun Life Insurance Policy Account Statement
- Allow us to serve you better. Please provide us with the following details so that we can share your policy account statement.
- Policy no.
- Insured Date of Birth.
- Registered Email Id.
- Enter Captcha.
Claim Process for Birla Sun Life Term Plan
Straight forward and streamlined BSLI claim process makes it easy to lodge a claim and settle down.
The nominee/claimant requirement intimate the insurance company by filing a claim form with necessary documents.
Intimate Birla Sun Life Insurance Company on their Toll-/free number-1-800-270-7000 or write an email at BSLI.email@example.com
On taking in all the necessary documents, claim Team will scrutinize claim documents
Claim Approval Process
Claim Acceptance the nominee will receive a NEFT.
In case the claim is rejected, BSLI will communicate with the reason to the nominee/beneficiary.
Standard Documents Required:
- Copy of Death certificate issued by Municipal Authorities/ Gram panchayat
- Claimant’s Statement along with KYC-ID Proof/RElationship Proof
- Original Policy Document/ Indemnity Bond
- Canceled Cheque with NEFT details
- Employer’s Certificate- In case Life Assured is Employed
- Medical Attendant certificate
Also read: What is life insurance?
In addition to the standard documents, there are other documents required classified as:
Unnatural death: First information report and postmortem Report Waiver of Premium: Proposed policyholder Form and Deed of Relinquishment to be executed on Rs. 200/-stamp paper duly notarized.
With the aim of covering policyholders with a hassle-free claims process, has set up an easy-to-understand and detailed claims process.
Policyholders can file a claim either online or offline, based on their convenience.
Client who wishes to file a claim online can intimate the company by sending an email to the Claims Department, mentioning the policy number as well as the policyholder’s details such as name, address date of birth etc.
Alternatively, policyholders can also notify Birla Sun Life insurance by visiting the website and filling an online claim intimation.
On the Birla Sun Life insurance homepage, claimants will have to click on the ‘Claims’ option and select the ‘Claims’ option and select the ‘Claims Process’ tab, from where they can file an online intimation.
Once the claim has been authenticated and verified by the Claims Team, a decision is taken as to whether the claim will be accepted or rejected.
Payouts for accepted claims are generated and the beneficiary is sent an intimation as well as the payout.
Birla Sun Life Insurance Premium Calculator
Investing in life insurance is a long-term plan for most policyholders, and comes at a significant cost in terms of premium throughout the policy term, Birla Sun Life insurance has designed a premium calculator.
The calculator computes the amount that would have to be paid a premium for a particular policy based on certain factors and variables.
This helps individuals budget and plan for this regular cost, as well as pick policy terms that will suit their financial condition.
The Birla Sun Life Premium Calculator can be found on the insurer’s website and requires the individual to enter certain basic details such as date of birth, gender, desired life offer(in Rupees) and if they are a smoker/non-smoker.
Checking Birla Sun Life Insurance Policy Status
Checking Birla Sun Life Insurance policy Status has been made simpler and more convenient with the company covering policyholders a number of channels.
The client can check the status of their life insurance policy through the following methods mentioned below.
Checking Birla Sun Life Insurance Policy Status Online:
The client can check the status of their Birla Sun Life Insurance policies online by registering on the insured’s homepage.
On registration, policyholders can sign in to their accounts and click on the ‘Policy Details’ tab from the options listed.
The current status of the policy in question will be displayed on the screen.
The client can also email the insurance company to receive details of their policies.
Customer will have to provide information such as the policyholder’s name, date of birth, address, policy number etc. in the email.
Also read our blog on Aviva Life Insurance
Review of Birla Sun Life Company
Birla Sun Life Insurance with a base of two million clients is one of the leading Indian Life Insurers.
BSLI ranks among the Top 7 in private Life Insurance company.
BSLI has its distribution network is in over 500 cities, 560 branches, around 85,000 empaneled advisors who value integrity, commitment, passion, seamlessness, and speed.
With the range of Term insurance plans that are customizable with the help of different Riders, makes Birla Sun Life Insurance plans that are customizable with the help of different Riders, makes Birla Sun Life Insurance as the preferred choice by many.
Birla Sun Life Insurance Customer Care
Birla Sun Life Insurance Company Limited provides a variety of Life insurance and Pension plans under categories such as, Protection, Wealth with Protection, Children Future, Health, and Wellness, Retirement and saving with protection.
If you’re looking for Information about these plans or require your policy issues to be addressed, here are the suitable communication channels you may use to reach out to the customer care team.
Birla Sun Life Insurance Customer Care Number
If you have any concerns or issues related to the products and services offered by Birla Sun Life Insurance, you may call the customer care centre on 1-800-270-7000 and get them resolved.
The service can be availed from 9.00am to 9.00pm.
On all seven days. Those living outside India can call on +91 2266917777.
Birla Sun Life Insurance Customer Care Email Address
You can email the customer care team stating your query or issue in detail at firstname.lastname@example.org.
The customer service team will respond with the relevant information in a stipulated time frame.
Birla Sun Life Customer Care – Online Chat
The customer can use the ‘Need Help’ online chat option on the homepage of the website and share your concerns with the customer care executive over chat.
How to pay a premium? What are the modes of payment available?
You can pay your Birla Sun Life term plan premium through any those following methods:
- Online Payment -Debit/Credit or NEFT.
- Cheque Payment.
- ECS System.
Step1: Enter your policy detail-policy number and client birth or date.
Step2: Select your payment method- Debit card or Credit card and NEFT to premium.
Step3: Certify and confirm your payment details and print online payment receipt.
How can I check policy status for Birla Sun Life Term Insurance Plans?
For all Birla Sun Life term insurance customer, online checking of policy status is available.
To Check the policy status online, log into the e-portal with your Client ID and password.
Get life insurance now as your family needs you.