Birla Sun Life Insurance: Branch Network Across India

Aditya Birla Sun Life Insurance (ABSLI) is a joint venture between the Aditya Birla Group and the Canadian financial services organisation Sun Life Financial Inc. As of June 2022, ABSLI had 340+ branches across 500 cities in India, with a total of 19,500 employees and more than 16 lakh active customers. The company offers a wide range of insurance products, including term insurance plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans, and Unit Linked Insurance Plans (ULIPs).

Birla Sun Life Insurance's online payment process

Aditya Birla Sun Life Insurance offers a variety of online payment methods for its customers. Here is a step-by-step guide to making an online payment:

Online Payment Process:

• Visit the Aditya Birla Sun Life Insurance website.
• Click on the 'Pay Premium' option under the 'Quick Links' section.
• Enter the policy number and the insured's date of birth, email address, and mobile number.
• Click on 'Submit'.
• Confirm the premium amount and choose a payment option.
• Complete the transaction through the selected payment option.
• An acknowledgement of the transaction will be displayed on the screen.

Other Online Payment Options:

In addition to the online payment process mentioned above, Aditya Birla Sun Life Insurance also offers the following online payment options:

• Net Banking: Login with your username and password, select the policy, choose Net Banking, select your bank, login to your bank's secure section, and complete the transaction.
• Debit Card: Login with your username and password, select the payment option, choose the policy, select 'Debit Card', choose your bank from the list, and complete the transaction.
• Credit Card: Login with your username and password, select the payment option, choose the policy, select 'Credit Card', choose your card type, and complete the transaction.
• Paytm: Login with your username and password, select the payment option, choose the policy, select 'wallet', choose 'Paytm', and complete the transaction.
• Google Pay: Login with your username and password, select the payment option, choose the policy, select 'UPI', choose 'Google Pay', and complete the transaction.
• NEFT: Log in to your bank's net banking section, go to the 'NEFT – Fund Transfer' section, fill in the beneficiary details (Aditya Birla Sun Life Insurance Co. Ltd., beneficiary account number, policy number, beneficiary IFSC code, beneficiary bank name, and due premium amount), and complete the transaction.
• Bill Desk/Bill Junction: Register on www.billdesk.com or www.billjunction.com, select Aditya Birla Sun Life Insurance as the biller, enrol your policy, and authorise the payment.

Aditya Birla Sun Life Insurance also offers offline payment options such as cash, cheque, demand draft, or card payments at their branches and selected bank branches.

The company's customer care services

Aditya Birla Sun Life Insurance (ABSLI) has established a dedicated customer support team to assist policyholders with all their queries and grievances. The company offers a special toll-free helpline for customers within and outside India, as well as an email address for policy-related queries. Customers can also locate the nearest BSLI branch and meet a customer service team member.

Additionally, BSLI provides a range of self-service options on its website for life insurance policyholders. Customers can easily manage major aspects of their policy online, such as paying premiums, updating contact details, changing premium payment frequency, subscribing to receive e-statements, tracking their application, finding out the claims procedure, subscribing to alerts, and providing feedback. There is also an online chat service where customers can submit their queries and receive immediate assistance.

The company's commitment to customer service is further demonstrated by its easy-to-understand policies, transparent processes, and responsive customer support.

Birla Sun Life Insurance's claim settlement ratio

Birla Sun Life Insurance, also known as Aditya Birla Sun Life Insurance Company Limited (ABSLI), is a joint venture between the Aditya Birla Group and Canadian financial firm Sun Life Financial Inc. With over 2.5 million customers, it is one of the leading life insurance companies and fund managers in India.

Claim Settlement Ratio

The claim settlement ratio is the percentage of claims that an insurer has settled. In other words, it is the proportion of claims that an insurer has paid out during the financial year concerned. The higher the claim ratio, the better it is for the customer.

Aditya Birla Sun Life Insurance boasts a high claim settlement ratio of 98.40% for individual business and 99.59% for group business for the financial year 2023-24. This means that the company settled the vast majority of the claims it received, giving customers a sense of security and protection.

Customer Testimonials

The company's high claim settlement ratio, along with its easy-to-understand and hassle-free claims process, has resulted in positive testimonials from customers. Here are some examples:

• "Branch managers explained the process efficiently and my amount was given timely!" - Mr. Maheshwar Sanyal, Andhra Pradesh
• "Supportive branch executives. Easy claim settlement process!" - Uttar Pradesh
• "Everything was done in a timely manner. Positive response from ABSLI." - Tamil Nadu
• "Gave claim documents in one go. Hassle-free service by ABSLI." - Haryana
• "Detailed explanation by advisor. Easy claim settlement from ABSLI!" - West Bengal

Aditya Birla Sun Life Insurance's high claim settlement ratio and positive customer feedback demonstrate its commitment to providing reliable protection and peace of mind to its policyholders and their families. The company's claim settlement process is designed to be straightforward and efficient, ensuring that customers receive their entitled benefits promptly.

The company's range of insurance products

Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a joint venture between the Aditya Birla Group and Canadian financial firm Sun Life Financial Inc. With over 2.5 million customers, BSLI is one of the leading life insurance companies and fund managers in India. The company has over 600 branches spread across 500 cities and offers a wide range of insurance products, including term insurance plans, wealth with protection plans, savings with protection plans, savings with health plans, child plans, retirement plans, and rural insurance plans.

Wealth with Protection Plans

ABSLI offers several wealth with protection plans that provide customers with investment options and life cover. These plans are designed to help individuals manage their finances and protect their wealth. Here are some of the plans offered by ABSLI:

• ABSLI Wealth Max Plan: This plan offers investment options and guarantees additions to the customer's wealth. It also provides a life cover that is never less than 105% of the total premiums paid.
• ABSLI Wealth Secure Plan: This plan allows customers to choose an investment option for financial management and provides whole life cover.
• ABSLI Wealth Assure Plan: This plan offers the invested fund value upon maturity and a death benefit that includes the sum assured and fund value.
• ABSLI Fortune Elite Plan: This plan allows customers to choose an investment option to maximise the protection of their wealth and provides a life cover.
• ABSLI Wealth Aspire Plan: This unit-linked insurance plan offers multiple policy term options, top-up additions, and partial withdrawal options.

Savings with Protection Plans

ABSLI also provides savings with protection plans that offer customers the opportunity to save money while also providing a large cover and tax-free returns. These plans help protect an individual's family and secure their future. Here are some of the savings with protection plans offered by ABSLI:

• ABSLI SecurePlus Plan: This plan determines the sum assured based on the policyholder's age of entry and the pledged premium amount to be paid in a policy year. The minimum sum assured amount is Rs. 5.22 lakh.
• ABSLI Vision Money Back Plus Plan: This plan has a minimum sum assured of Rs. 1 lakh and policy terms of 20, 24, and 25 years.
• ABSLI Vision LifeIncome Plan: This plan has a minimum sum assured of Rs. 2 lakh and offers whole life coverage up to 100 years of age.
• ABSLI Vision LifeSecure Plan: This plan has a minimum sum assured of Rs. 2 lakh and a maximum sum assured of Rs. 12,000 paid per annum.
• ABSLI Income Assured Plan: This plan has a minimum sum assured of Rs. 1 lakh and policy terms of 15, 22, and 25 years.
• ABSLI Vision Endowment Plus Plan: This plan has a minimum sum assured of Rs. 1 lakh.
• ABSLI Guaranteed Milestone Plan: This plan has a minimum sum assured of Rs. 2.25 lakh and a maximum maturity sum assured of Rs. 90,000. It offers policy terms of 12, 14, 16, 18, 20, 22, 24, and 26 years.
• ABSLI POS - Jeevan Bachat Plan: This plan offers single pay and limited pay policies with varying minimum and maximum sum assured amounts. It provides policy terms of 10, 15, and 20 years for single pay and 6 pay options, and 15 and 20 years for 9 and 12 pay options.

Savings with Health Plans

In addition to the above, ABSLI offers savings with health plans that provide coverage for hospitalisation, injuries, and critical illnesses. These plans allow individuals to focus on their treatment without worrying about financial organisation. The following are the savings with health plans offered:

• ABSLI Cancer Shield Plan: This plan has a minimum sum assured of Rs. 10 lakh and a maximum sum assured of Rs. 50 lakh. It offers policy terms ranging from 5 to 20 years.
• ABSLI Hospital Plus Plan: This plan provides four benefit options with varying sums assured per life. It guarantees renewal and has a policy term of 5 years.
• ABSLI CritiShield Plan: This plan has a minimum sum assured of Rs. 10 lakh and a maximum sum assured of Rs. 50 lakh. It offers policy terms ranging from 5 to 20 years.

Child Plans

ABSLI also offers child plans that secure the future of a child through payments made at important milestones. Some of these plans offer premium payment by the company if the insured doesn't survive the policy term. Here is one of the child plans offered:

BSLI Vision Star Plan

Retirement Plans

ABSLI provides retirement plans designed to offer steady income for senior citizens who are no longer working. These plans pay fixed benefits at policy maturity or retirement and also provide applicable death benefits. The following are the retirement plans offered:

• ABSLI Empower Pension Plan
• ABSLI Immediate Annuity Plan
• ABSLI Empower Pension- SP Plan

Rural Insurance Plans

ABSLI has a range of rural insurance plans tailored for individuals in rural areas. These plans include:

• ABSLI Bima Dhan Sanchay
• ABSLI Bima Suraksha Super
• ABSLI Bima Kavach Yojana
• ABSLI Grameen Jeevan Raksha Plan
• Grameen Jeevan Raksha

Protection Plans

Lastly, ABSLI offers protection plans that ensure the financial security of an individual's family, especially during times of crisis. These plans offer total financial security to reduce overall stress. Here are the protection plans offered:

• ABSLI DigiShield Plan: This plan has a minimum sum assured of Rs. 30 lakh and no limit on the maximum sum assured.
• ABSLI Income Shield Plan: This plan has a minimum sum assured of Rs. 5 lakh and no limit on the maximum sum assured.
• ABSLI Life Shield Plan: This plan has a minimum sum assured of Rs. 25 lakh and no limit on the maximum sum assured. It offers policy terms ranging from 10 or 20 years to 50 years.

Birla Sun Life Insurance's group plans

Aditya Birla Sun Life Insurance (ABSLI) offers a range of group plans to cater to diverse needs. Here is a detailed overview of their group insurance solutions:

Group Value Plus Plan

The Group Value Plus Plan is a gratuity solution plan that provides flexibility with a range of plan options tailored to meet individual needs. This plan offers a comprehensive solution for gratuity payments, ensuring peace of mind for employers and employees alike.

Group Unit Linked Plan

The Group Unit Linked Plan is another gratuity solution designed to maximise returns on gratuity investments. It offers 10 investment fund options, along with additional benefits of up to 5% of the initial contribution. This plan provides a combination of protection and wealth accumulation for employees.

Group Superannuation Plan

The Group Superannuation Plan is an innovative solution for superannuation benefits, offering multiple investment options to meet varying risk appetites and financial goals. This plan ensures that employees can look forward to a secure retirement.

Group Asset Assure Plan

The Group Asset Assure Plan is a non-linked, non-participating insurance plan that provides flexibility in premium payment options and a range of benefit choices. This plan is ideal for employers seeking to provide a comprehensive financial safety net for their employees.

Group Protection Solutions

ABSLI also offers a range of Group Protection Solutions, including the Group Smart Supreme Plan, Group Asset Assure Plan, Group Bima Yojana Plan (Micro Insurance), Group Assured Shield Plan, and Group Smart Select Plan. These plans are designed to provide comprehensive life insurance coverage for employee groups, ensuring financial security for employees and their loved ones.

Retirement Solutions

In addition to the above, ABSLI offers Retirement Solutions, such as the Group CapSecure Plan, Group Assured Pension Plan, and Group Superannuation Plan. These plans are tailored to meet the needs of those planning for retirement, offering financial security and peace of mind during their golden years.

With a wide range of group plans, ABSLI is committed to providing comprehensive insurance solutions for businesses and their employees, ensuring that financial protection extends beyond the individual level. These group plans offer tailored coverage, investment options, and benefits to cater to the diverse needs of modern businesses and their workforce.

Frequently asked questions