FAQs

You can also browse the topics below to find what you are looking for

  • How to choose the best term plan?

    • Chose a plan that best answers the below questions for you What are the features offered by the plan? - Some important features to look out for will be flexibility in enhancing the cover as per your need, cover critical illnesses or cover all your protection needs.
    • How much premium are you required to pay? – Do evaluate a term plan from a Company who has a legacy of trust and then identify the maximum coverage that you can get at an affordable cost
    • What is your payment term? – Look out for a plan that provides you flexibility in choosing the payment term. For example, you may decide to pay premium in lumpsum amount or in monthly/yearly instalments
    • What is the additional coverage (riders) being offered? – These are helpful additional features that you can check out like include waiver of premium, accidental benefits, etc.
    • How good is the insurer’s claim settlement ratio? – The higher and more consistent the claim settlement ratio, the quicker and more robust is the company in its claim settlement process
    • What is the insurer’s solvency ratio? - As per IRDAI, every life insurance provider should have a solvency ratio of 1.5, which tells if the company will be financially capable of settling your claim, should such a requirement arise.
  • At what age can you purchase a term insurance plan?

    You can buy a term insurance plan anytime between 18 years to 65 years of age. As one’s age increases, the premium for the policy increases too. Hence, it is better to start early and in good health.

  • How can you buy term insurance?

    Buying a term insurance plan is very easy. You can buy it online or offline. If you wish to buy term insurance online:

    • Go to the website of your chosen insurance provider. Select the plan that meet your requirements.
    • Fill up personal details such as name, gender, date of birth, policy term, smoking habit, city of residence, sum assured, mobile number, email id, etc
    • The insurer would generate a quote based on the details which will let you know about the monthly/annual premium to be paid to get the term cover
    • If you are satisfied with the quote, you would need to provide additional details such as nominee’s name, health and employment details, among others
    • Make payment online through any of the digital payment modes
    • Upload scanned copy of KYC documents and others as required
    • The soft copy of the insurance policy will be mailed to your registered email id

    In case you get stuck, you can call the customer care who will provide the necessary assistance. Also, most insurers have chatbots on their website to guide you with the entire process.

    On the other hand, if you wish to buy term insurance offline, you can do so from an insurance advisor. Fill up the proposal form and submit the relevant documents. Whether you buy term insurance online or offline, make sure to provide accurate details, particularly related to your health. Hiding information may lead to a claim rejection.

    Also, before policy issuance, you may need to undergo a medical examination. Insurers do so for better risk assessment. Make sure not to skip it as it may reveal conditions that you aren’t aware of.

  • Decreasing Term Insurance

    Policy Year Policy Term (upto 20 years) Policy Term (above 20 years)
    1 to 5 100% 100%
    6 to 10 90% 95%
    11 to 15 75% 90%
    16 to 20 50% 85%
    21 to 25 N.A. 70%
    25 to 30 N.A. 50%
  • Increasing Term Assurance with Waiver of Premium (WOP) Benefits

    In addition to benefit applicable for Option 1, in case you are diagnosed with Critical Illness^ or Total and Permanent Disability^ whichever is earlier, all future premiums, if any, will be waived off and policy will continue till end of policy term.

  • At what age can you purchase a term insurance plan?

    You can buy a term insurance plan anytime between 18 years to 65 years of age. As one’s age increases, the premium for the policy increases too. Hence, it is better to start early and in good health.

  • Decreasing Term Insurance

    Policy Year Policy Term (upto 20 years) Policy Term (above 20 years)
    1 to 5 100% 100%
    6 to 10 90% 95%
    11 to 15 75% 90%
    16 to 20 50% 85%
    21 to 25 N.A. 70%
    25 to 30 N.A. 50%
  • How can you buy term insurance?

    Buying a term insurance plan is very easy. You can buy it online or offline. If you wish to buy term insurance online:

    • Go to the website of your chosen insurance provider. Select the plan that meet your requirements.
    • Fill up personal details such as name, gender, date of birth, policy term, smoking habit, city of residence, sum assured, mobile number, email id, etc
    • The insurer would generate a quote based on the details which will let you know about the monthly/annual premium to be paid to get the term cover
    • If you are satisfied with the quote, you would need to provide additional details such as nominee’s name, health and employment details, among others
    • Make payment online through any of the digital payment modes
    • Upload scanned copy of KYC documents and others as required
    • The soft copy of the insurance policy will be mailed to your registered email id

    In case you get stuck, you can call the customer care who will provide the necessary assistance. Also, most insurers have chatbots on their website to guide you with the entire process.

    On the other hand, if you wish to buy term insurance offline, you can do so from an insurance advisor. Fill up the proposal form and submit the relevant documents. Whether you buy term insurance online or offline, make sure to provide accurate details, particularly related to your health. Hiding information may lead to a claim rejection.

    Also, before policy issuance, you may need to undergo a medical examination. Insurers do so for better risk assessment. Make sure not to skip it as it may reveal conditions that you aren’t aware of.

  • How to choose the best term plan?

    • Chose a plan that best answers the below questions for you What are the features offered by the plan? - Some important features to look out for will be flexibility in enhancing the cover as per your need, cover critical illnesses or cover all your protection needs.
    • How much premium are you required to pay? – Do evaluate a term plan from a Company who has a legacy of trust and then identify the maximum coverage that you can get at an affordable cost
    • What is your payment term? – Look out for a plan that provides you flexibility in choosing the payment term. For example, you may decide to pay premium in lumpsum amount or in monthly/yearly instalments
    • What is the additional coverage (riders) being offered? – These are helpful additional features that you can check out like include waiver of premium, accidental benefits, etc.
    • How good is the insurer’s claim settlement ratio? – The higher and more consistent the claim settlement ratio, the quicker and more robust is the company in its claim settlement process
    • What is the insurer’s solvency ratio? - As per IRDAI, every life insurance provider should have a solvency ratio of 1.5, which tells if the company will be financially capable of settling your claim, should such a requirement arise.
  • Increasing Term Assurance with Waiver of Premium (WOP) Benefits

    In addition to benefit applicable for Option 1, in case you are diagnosed with Critical Illness^ or Total and Permanent Disability^ whichever is earlier, all future premiums, if any, will be waived off and policy will continue till end of policy term.

  • Level Term Assurance with Waiver of Premium (WOP) Benefits

    In addition to benefit applicable for Option 1, in case you are diagnosed with Critical Illness^ or Total and Permanent Disability^ whichever is earlier, all future premiums, if any, will be waived off and policy will continue till end of policy term.
  • Level Term Assurance

    You can choose to enhance your sum assured at inception by 5% / 10% p.a. (simple) as per your needs. Every year, your sum assured will increase by 5% / 10% p.a. (simple) of the original sum assured without any increase in your premium amount.

  • Increasing Term Insurance

    You can choose to enhance your sum assured at inception by 5% / 10% p.a. (simple) as per your needs. Every year, your sum assured will increase by 5% / 10% p.a. (simple) of the original sum assured without any increase in your premium amount.

  • Increasing Term Assurance with Waiver of Premium (WOP) Benefits

    In addition to benefit applicable for Option 1, in case you are diagnosed with Critical Illness^ or Total and Permanent Disability^ whichever is earlier, all future premiums, if any, will be waived off and policy will continue till end of policy term.

  • How can you buy term insurance?

    Buying a term insurance plan is very easy. You can buy it online or offline. If you wish to buy term insurance online:

    • Go to the website of your chosen insurance provider. Select the plan that meet your requirements.
    • Fill up personal details such as name, gender, date of birth, policy term, smoking habit, city of residence, sum assured, mobile number, email id, etc
    • The insurer would generate a quote based on the details which will let you know about the monthly/annual premium to be paid to get the term cover
    • If you are satisfied with the quote, you would need to provide additional details such as nominee’s name, health and employment details, among others
    • Make payment online through any of the digital payment modes
    • Upload scanned copy of KYC documents and others as required
    • The soft copy of the insurance policy will be mailed to your registered email id

    In case you get stuck, you can call the customer care who will provide the necessary assistance. Also, most insurers have chatbots on their website to guide you with the entire process.

    On the other hand, if you wish to buy term insurance offline, you can do so from an insurance advisor. Fill up the proposal form and submit the relevant documents. Whether you buy term insurance online or offline, make sure to provide accurate details, particularly related to your health. Hiding information may lead to a claim rejection.

    Also, before policy issuance, you may need to undergo a medical examination. Insurers do so for better risk assessment. Make sure not to skip it as it may reveal conditions that you aren’t aware of.

  • How can you buy term insurance?

    Buying a term insurance plan is very easy. You can buy it online or offline. If you wish to buy term insurance online:

    • Go to the website of your chosen insurance provider. Select the plan that meet your requirements.
    • Fill up personal details such as name, gender, date of birth, policy term, smoking habit, city of residence, sum assured, mobile number, email id, etc
    • The insurer would generate a quote based on the details which will let you know about the monthly/annual premium to be paid to get the term cover
    • If you are satisfied with the quote, you would need to provide additional details such as nominee’s name, health and employment details, among others
    • Make payment online through any of the digital payment modes
    • Upload scanned copy of KYC documents and others as required
    • The soft copy of the insurance policy will be mailed to your registered email id

    In case you get stuck, you can call the customer care who will provide the necessary assistance. Also, most insurers have chatbots on their website to guide you with the entire process.

    On the other hand, if you wish to buy term insurance offline, you can do so from an insurance advisor. Fill up the proposal form and submit the relevant documents. Whether you buy term insurance online or offline, make sure to provide accurate details, particularly related to your health. Hiding information may lead to a claim rejection.

    Also, before policy issuance, you may need to undergo a medical examination. Insurers do so for better risk assessment. Make sure not to skip it as it may reveal conditions that you aren’t aware of.

  • How to choose the best term plan?

    • Chose a plan that best answers the below questions for you What are the features offered by the plan? - Some important features to look out for will be flexibility in enhancing the cover as per your need, cover critical illnesses or cover all your protection needs.
    • How much premium are you required to pay? – Do evaluate a term plan from a Company who has a legacy of trust and then identify the maximum coverage that you can get at an affordable cost
    • What is your payment term? – Look out for a plan that provides you flexibility in choosing the payment term. For example, you may decide to pay premium in lumpsum amount or in monthly/yearly instalments
    • What is the additional coverage (riders) being offered? – These are helpful additional features that you can check out like include waiver of premium, accidental benefits, etc.
    • How good is the insurer’s claim settlement ratio? – The higher and more consistent the claim settlement ratio, the quicker and more robust is the company in its claim settlement process
    • What is the insurer’s solvency ratio? - As per IRDAI, every life insurance provider should have a solvency ratio of 1.5, which tells if the company will be financially capable of settling your claim, should such a requirement arise.
  • Increasing Term Assurance with Waiver of Premium (WOP) Benefits

    In addition to benefit applicable for Option 1, in case you are diagnosed with Critical Illness^ or Total and Permanent Disability^ whichever is earlier, all future premiums, if any, will be waived off and policy will continue till end of policy term.

  • Decreasing Term Insurance

    Policy Year Policy Term (upto 20 years) Policy Term (above 20 years)
    1 to 5 100% 100%
    6 to 10 90% 95%
    11 to 15 75% 90%
    16 to 20 50% 85%
    21 to 25 N.A. 70%
    25 to 30 N.A. 50%
  • Increasing Term Assurance with Waiver of Premium (WOP) Benefits

    In addition to benefit applicable for Option 1, in case you are diagnosed with Critical Illness^ or Total and Permanent Disability^ whichever is earlier, all future premiums, if any, will be waived off and policy will continue till end of policy term.

  • Increasing Term Insurance

    You can choose to enhance your sum assured at inception by 5% / 10% p.a. (simple) as per your needs. Every year, your sum assured will increase by 5% / 10% p.a. (simple) of the original sum assured without any increase in your premium amount.

  • How to choose the best term plan?

    • Chose a plan that best answers the below questions for you What are the features offered by the plan? - Some important features to look out for will be flexibility in enhancing the cover as per your need, cover critical illnesses or cover all your protection needs.
    • How much premium are you required to pay? – Do evaluate a term plan from a Company who has a legacy of trust and then identify the maximum coverage that you can get at an affordable cost
    • What is your payment term? – Look out for a plan that provides you flexibility in choosing the payment term. For example, you may decide to pay premium in lumpsum amount or in monthly/yearly instalments
    • What is the additional coverage (riders) being offered? – These are helpful additional features that you can check out like include waiver of premium, accidental benefits, etc.
    • How good is the insurer’s claim settlement ratio? – The higher and more consistent the claim settlement ratio, the quicker and more robust is the company in its claim settlement process
    • What is the insurer’s solvency ratio? - As per IRDAI, every life insurance provider should have a solvency ratio of 1.5, which tells if the company will be financially capable of settling your claim, should such a requirement arise.
  • How can you buy term insurance?

    Buying a term insurance plan is very easy. You can buy it online or offline. If you wish to buy term insurance online:

    • Go to the website of your chosen insurance provider. Select the plan that meet your requirements.
    • Fill up personal details such as name, gender, date of birth, policy term, smoking habit, city of residence, sum assured, mobile number, email id, etc
    • The insurer would generate a quote based on the details which will let you know about the monthly/annual premium to be paid to get the term cover
    • If you are satisfied with the quote, you would need to provide additional details such as nominee’s name, health and employment details, among others
    • Make payment online through any of the digital payment modes
    • Upload scanned copy of KYC documents and others as required
    • The soft copy of the insurance policy will be mailed to your registered email id

    In case you get stuck, you can call the customer care who will provide the necessary assistance. Also, most insurers have chatbots on their website to guide you with the entire process.

    On the other hand, if you wish to buy term insurance offline, you can do so from an insurance advisor. Fill up the proposal form and submit the relevant documents. Whether you buy term insurance online or offline, make sure to provide accurate details, particularly related to your health. Hiding information may lead to a claim rejection.

    Also, before policy issuance, you may need to undergo a medical examination. Insurers do so for better risk assessment. Make sure not to skip it as it may reveal conditions that you aren’t aware of.

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