Paul Sanchez
Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a Canadian international financial services organisation. ABSLI offers a wide range of insurance products, including term, savings, ULIPs, retirement, and child plans. With a nation-wide distribution presence through 340+ branches and a large number of agents, ABSLI has contributed significantly to the growth of the life insurance industry in India and is currently ranked among the top 7 private life insurance companies in the country.
| Characteristics | Values |
|---|---|
| Name | Aditya Birla Sun Life Insurance Company Limited (ABSLI) |
| Incorporation Date | 4 August 2000 |
| Operations Commencement Date | 17 January 2001 |
| Parent Company | Aditya Birla Capital Ltd (ABCL) |
| Joint Venture | 51:49 between Aditya Birla Group and Sun Life Financial Inc. |
| Total AUM | Rs.606,604 million (as of June 2022) |
| Gross Premium Income | Rs.26,197 million in Q1 FY 2022-23 |
| Growth in Gross Premium | 49% y-o-y growth with Individual Business FYP at Rs.4090 Mn |
| Distribution Presence | 340+ branches, 8 bancassurance partners, 49,000+ direct selling agents, corporate agents, and brokers |
| Products Offered | Children's future plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans, Unit Linked Insurance Plans (ULIPs) |
| Riders | Accidental Death Benefit Rider, Critical Illness Rider, Surgical Care Rider, Hospital Care Rider, Waiver of Premium Rider, etc. |
| Customer Solutions | Protecting, Investing, Financing, Personal Accident Insurance, Motor Insurance, Travel Insurance, Bike Insurance, Eye Insurance, Dental Insurance, etc. |
Explore related products
![Enjoy Balance and Unleash Creativity - Five Steps to a Happier Healthier & Successful Life [Paperback] [Jan 01, 2016] Madan Birla](https://m.media-amazon.com/images/I/61PXkk1PKbL._AC_UY218_.jpg)
What You'll Learn
Aditya Birla Sun Life Insurance Company Limited (ABSLI)
ABSLI provides a diverse range of life insurance plans tailored to meet various financial goals and protection needs. Their products include term, savings, ULIPs, retirement, and child plans, catering to different life stages and customer requirements. The company also offers riders, which are add-ons that can be purchased with a savings plan to enhance coverage and provide more comprehensive protection. These riders include the accidental death benefit rider, critical illness rider, total and permanent disability rider, and waiver of premium rider.
ABSLI is known for its innovation and has introduced several industry-first initiatives, such as the "Free Look Period," which was later mandated by the IRDA for all life insurance companies. The company is committed to transparency and credibility, disclosing its portfolio on a monthly basis to stay close to its policyholders' expectations. ABSLI also boasts a high claim settlement ratio of 98.40% for individual business, reflecting its promptness in honouring claims.
The process of filing a life insurance claim with ABSLI is straightforward. Policyholders or their nominees can notify ABSLI by visiting a branch, calling the customer service helpline, or sending an email. Required documents include the claimant's statement form, policy document, death certificate (if applicable), identity proof of the nominee, medical records, and bank details for NEFT transfers. ABSLI aims to provide prompt assistance during difficult times.
ABSLI also offers investment options, such as the ABSLI Wealth Aspire Plan and the ABSLI Wealth Assure Plus, which provide different rates of return based on the assumed rate of return. These plans offer the flexibility to choose investment options and potential for growth, catering to customers' wealth accumulation goals.
Life Insurance and Pandemics: What's Covered?
You may want to see also
Explore related products
ABSLI's address
Aditya Birla Sun Life Insurance (ABSLI) is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a Canadian international financial services organisation. ABSLI offers a wide range of life insurance plans, including term, savings, ULIPs, retirement, and child plans, catering to various financial goals. The company has a strong presence in India, with a head office in Mumbai and a wide network of branches, partners, and agents across the country.
The registered address of Aditya Birla Sun Life Insurance (ABSLI) is:
Aditya Birla Sun Life Insurance Company Limited
18th Floor, One World Center, Tower 1
Jupiter Mills Compound, 841 Senapati Bapat Marg
Elphinstone Road
Mumbai, Maharashtra 400013
India
This address is for the company's registered office, which is located in the heart of Mumbai. The office is situated in the One World Center, a prominent business tower in the city. The full address includes the floor and tower number to ensure accurate mail delivery within the building.
In addition to the registered office, ABSLI also has a network of branch offices across India. These branches provide convenient access to customers and enable the company to serve its large customer base effectively. The exact number of branches and their specific locations are not publicly listed but the company claims to have a "nationwide distribution presence".
When it comes to filing a life insurance claim with ABSLI, the process is straightforward. Claimants can visit their nearest ABSLI branch or send the relevant documentation directly to the Claims Section at the following address:
The Claims Section
Aditya Birla Sun Life Insurance Company Limited
G Corp Tech Park, 5th & 6th Floor
Kasar Wadavali, Ghodbunder Road
Thane - 400 601
New York Life Insurance: AARP Payouts, Quick and Easy?
You may want to see also
Explore related products
ABSLI's contact details
Aditya Birla Sun Life Insurance (ABSLI) is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a Canadian international financial services organisation. ABSLI offers a range of insurance products, including children's future plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans, and Unit Linked Insurance Plans (ULIPs). The company has a wide reach in India, with over 340 branches and a large number of partners and agents.
If you need to get in touch with ABSLI, you can contact them in several ways. For general queries, you can call their customer service helpline at 1-800-270-7000. Alternatively, you can send an email to [email protected]. If you need to submit a life insurance claim, you can visit your nearest ABSLI branch or send the relevant documents directly to the Claims Section at the following address:
The Claims Section
Aditya Birla Sun Life Insurance Company Limited
G Corp Tech Park, 5th & 6th Floor
Kasar Wadavali, Ghodbunder Road
Thane - 400 601
ABSLI also has a registered address at:
18th Floor, One World Center, Tower 1
Jupiter Mills Compound, 841 Senapati Bapat Marg
Elphinstone Road
Mumbai Maharashtra 400013
Creditors and Life Insurance: Can They Garnish Proceeds?
You may want to see also
Explore related products
ABSLI's insurance plans
Aditya Birla Sun Life Insurance (ABSLI) offers a diverse range of life insurance plans tailored to meet various financial goals and protection needs. These plans are designed to cater to specific financial objectives, from securing your family's future to saving for life goals and growing your wealth.
ABSLI provides a wide array of insurance plans, including term, savings, ULIPs, retirement, and child plans. One such plan is the ABSLI Assured Savings Plan, which provides life insurance coverage with guaranteed benefits. This plan ensures a lump sum payout at the end of the policy, along with loyalty additions to support your family financially in case of any unforeseen events. You can choose the premium amount and term based on your needs and pay premiums in one go or at regular intervals. Your savings grow over time through investments and interest.
Another plan offered by ABSLI is the ABSLI Wealth Secure Plan, which ensures financial management through the choice of an investment option and also provides whole life cover. The ABSLI Wealth Assure Plan is similar, providing the invested fund value upon maturity on survival and a death benefit that includes the sum assured as well as the fund value.
ABSLI also offers retirement plans, such as the ABSLI Empower Pension Plan and the ABSLI Immediate Annuity Plan, which provide a steady income for senior citizens who are no longer working. These plans pay out fixed benefits at policy maturity or retirement, along with applicable death benefits.
Additionally, ABSLI provides child plans, which secure the child's future through payments made at important life junctions. Some plans offer the option of premium payment by the company if the insured doesn't survive the policy term.
ABSLI boasts a high claim settlement ratio, reflecting its commitment to honouring claims promptly. It also offers multiple premium payment modes and dedicated customer service to assist with policy management, claims, and queries.
GAAP, Life Insurance, and DAC: What's Allowed?
You may want to see also
Explore related products
ABSLI's history
Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a life insurance subsidiary of Aditya Birla Capital Ltd. (ABCL). ABSLI was incorporated on 4 August 2000 and started operations on 17 January 2001. It is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a Canadian international financial services organisation.
ABSLI offers a diverse range of life insurance plans tailored to meet various financial goals and protection needs. These include term, savings, ULIPs, retirement, and child plans. The company also provides optional add-ons, known as Life Insurance Riders, that enhance the basic life insurance policy by providing additional benefits for specific circumstances. For example, the ABSLI Accidental Death and Disability Rider provides financial security for families in the case of accidental death or disability.
ABSLI has a strong presence in India, with a nationwide distribution network of over 380 branches, 11 bancassurance partners, 6 distribution channels, and more than 62,600 direct selling agents. The company has also recorded impressive financial figures, with a gross premium income of Rs. 13,605 Cr and a claim settlement ratio of 98.40% for individual business as of 31 December 2024.
In addition to life insurance, ABCL offers a range of financial services and solutions, including personal accident insurance, investment insights, and emergency fund plans. The company caters to diverse customer needs across life stages and has a strong presence in protecting, investing, and financing solutions.
Life Insurance Options for People with Ulcerative Colitis
You may want to see also
Frequently asked questions
Aditya Birla Sun Life Insurance Company Limited (ABSLI) is located in India. It is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a Canadian international financial services organisation. ABSLI has a wide reach across India with 340+ branches.
Aditya Birla Sun Life Insurance was incorporated in 2000 and began operations on 17 January 2001. It has since grown to become one of the top 7 private life insurance companies in India.
Aditya Birla Life Insurance offers a diverse range of life insurance plans, including children's future plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans, and Unit Linked Insurance Plans (ULIPs). They also provide personal accident insurance, motor insurance, travel insurance, and more.
To file a life insurance claim with Aditya Birla Sun Life Insurance, you can notify them by visiting the nearest ABSLI branch, calling their customer service helpline, or sending an email. You will then need to collect the required documents, which may include the claimant's statement form, policy document, death certificate, identity proof of the nominee, medical records, and bank details for NEFT transfers.
