FAQs

The claim money will be paid to the beneficiary who generally is the nominee / assignee / appointee (in case of a minor) as mentioned by the Life Assured in the Application Form for Insurance.

In such an eventuality, a "Succession Certificate" will have to be submitted by the Claimant. A Succession Certificate is issued on application by a competent court on the question of the right to the property of the deceased. The Succession Certificate should specifically provide for disbursement of policy monies. If, however, the deceased has left a will, a probate of the will is required along with the copy of the will.

The Life Assured should nominate some other person in place of the deceased Nominee under section 39 of the Insurance Act.

Except in some type of claims (e.g. Critical Illness Rider), where a waiting period is involved, all claims including death claims should be intimated as soon as possible.

The claimant or the family members of the Life Assured should inform the ABSLI Branch Office about the death of the Life Assured. Alternatively, they can directly intimate the Claims Section at:

The Claims Section,
Aditya Birla Sun Life Insurance Company Limited
G Corp Tech Park,
5th & 6th Floor,
Kasar Wadavali, Ghodbunder Road,
Thane - 400 601.

The claim forms can be submitted at the nearest ABSLI Branch Office or could be sent directly to the Claims Section at:

The Claims Section,
Aditya Birla Sun Life Insurance Company Limited
G Corp Tech Park,
5th & 6th Floor,
Kasar Wadavali, Ghodbunder Road,
Thane - 400 601.

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.

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.

• 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.

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.

The objective of creating an insurance repository is to provide policyholders a facility to keep all his insurance policies in electronic form in one account and to undertake changes, modifications and revisions in the insurance policy with speed and accuracy.

Once the investor opens an account with a Repository. He can purchase subsequent policies from any insurance company without the hassle of submitting KYC documents (Know your customer documents, ID & Address proofs) again.

All individual life insurance policies, health and pension policies issued by registered life insurance, Health Insurance and General Insurance companies registered with IRDAI.

In order to hold e- insurance policies a separate and distinct e‐insurance account shall be opened with insurance repositories for keeping insurance policies in electronic form and the same shall be opened by a person who has insurance policies on his own or who proposes to take insurance policies.

The documents that would be required are an Application form & KYC norms (ID Proof, Address Proof).

Subject to the provisions of insurance act and such Regulations, guidelines as may be made in this behalf from time to time, a policyholder may assign a policy of life insurance through insurance repository.

Insurance companies will not charge the investor for issuing e-policies. The charge structure for opening a repository account is yet to be finalised. However, this is likely to be nominal.

The repositories will be operational in the next few weeks and thereafter account opening will start. We will inform you about the same once the process starts.

1) National Insurance Repository Limited

2) Central Insurance Repository Limited

3) Karvy Insurance Repository Limited

4) CAMS Insurance Repository Services Limited

1) National Insurance Repository Limited - 91-22-49142631/49142502 helpdesk.nir@nsdl.co.in

2) Central Insurance Repository Limited - 1800-200-5533 / cirlhelpdesk@cdslindia.com

3) Karvy Insurance Repository Limited - 91 09642 546737 / eVault@karvy.com

4) CAMS Repository Services Limited - 1800-200-7737 / repository@camsonline.com

1) National Insurance Repository Limited - nir@ndml.in

2) Central Insurance Repository Limited - cirlhelpdesk@cdslindia.com

3) Karvy Insurance Repository Limited - eVault@karvy.com

4) CAMS Repository Services Limited – repository@camsonline.comt

The customer will receive his login credentials and welcome kit via email from the Insurance Repository. No email will be sent by Aditya Birla Sun Life Insurance Company Ltd.

The customer can get in touch with the Insurance Repository’s touch points mentioned below.

1) National Insurance Repository Limited - 91-22-49142631/49142502 helpdesk.nir@nsdl.co.in

2) Central Insurance Repository Limited - 1800-200-5533 / cirlhelpdesk@cdslindia.com

3) Karvy Insurance Repository Limited - 91 09642 546737 / eVault@karvy.com

4) CAMS Repository Services Limited - 1800-200-7737 / repository@camsonline.com

An e-Insurance account will be opened within 7 days from the date of submission of application complete in all respects. Once, an account is opened, a welcome kit with the details of how to operate the same would be sent to the applicant/e-Insurance account holder.

NO. e-Insurance account is offered 'free of cost' to the applicants.

The objective of creating an insurance repository is to provide policyholders a facility to keep insurance policies in electronic form and to undertake changes, modifications and revisions in the insurance policy with speed and accuracy. In addition, the repository acts as a single stop for several policy service requirements. The Insurance repository system also brings about efficiency and transparency in the issuance and maintenance of insurance policies.

"Insurance Repository" means a company formed and registered under the Companies Act, 1956 (1 of 1956) and which has been granted a certificate of registration by Insurance Regulatory and Development Authority (IRDA) for maintaining data of insurance policies in Electronic form on behalf of Insurers. The Insurance Repositories provide the ease of holding insurance policies issued in an electronic form.

No, only an entity which is registered under company's act and who is granted a 'Certificate of Registration' by Insurance Regulatory and Development Authority (IRDA) can act as an Insurance Repository.

No, Insurance repositories cannot sell/solicit insurance policies. They are authorized only to maintain the policies in electronic form and provide a service record of all insurance policies.

eIA stands for e-Insurance Account or "Electronic Insurance Account" which will safeguard the insurance policy documents of policyholders in electronic format. This e-Insurance account will facilitate the policyholder by providing access to the insurance portfolio at a click of a button through internet. IRDA has granted the Certificate of Registration to the following five entities to act as 'Insurance repositories' that are authorized to open e-Insurance Accounts:

a) M/s NSDL Database Management Limited

b) M/s CDSL Insurance Repository Limited

c) M/s SHCIL Projects Limited

d) M/s Karvy Insurance Repository Limited

e) M/s CAMS Insurance Repository Services Limited

Each e-Insurance Account will have a unique Account number and each account holder will be granted a unique Login ID and Password to access the electronic policies online.

An e-Insurance account application form is one that is used by an individual to open an e-insurance account with the Insurance Repository. This form would be available with Insurance Company, Insurance Repository or an Approved Person.

An e-Insurance account holder or policyholder is required to:

     a) Fill the e-Insurance account form and

     b) Submit the following documents to the office of Insurance Repository or Insurance company or authorized

Approved Person (AP) appointed by Insurance Repository:

     1. Photo ID

     2. Recent passport size photograph

     3. Cancelled Cheque ( In case of ECS/NEFT services for insurance premium payment transaction) and

     4. Address proof

An e-Insurance account holder or policyholder is required to:

     a) Fill the e-Insurance account form and

     b) Submit the following documents to the office of Insurance Repository or Insurance company or authorized

Approved Person (AP) appointed by Insurance Repository:

     1. Photo ID

     2. Recent passport size photograph

     3. Cancelled Cheque ( In case of ECS/NEFT services for insurance premium payment transaction) and

     4. Address proof

Yes, an individual who is not having any insurance policy can open an e-Insurance account. After buying a policy, the policyholder can give a request for dematerialization to the Insurer or Insurance Repository or Approved Person.

Once e-Insurance account is created, you will receive a welcome kit. A pin mailer shall be sent separately. Using the login credentials and PIN, you can access and start using your e-Insurance account.

Yes, it is possible to convert the existing paper policies into electronic form. A service request may be made to the Insurance Repository or Insurer or the Approved person in this regard.

Once you have opened an e Insurance Account, to buy a new policy in electronic form, you just need to quote your unique e-Insurance account number in your new insurance proposal form and make a request to issue policy in an electronic form.

All Life insurance, Health insurance, General insurance & Annuity policies that are issued by registered insurance companies with IRDA and who have signed up with the Insurance Repositories are eligible to be held in the electronic form.

You will receive a mail and SMS on your registered e-mail id and mobile number.

All the services provided by Insurance repositories are FREE of charge.

A list of all policies that are credited will be available in the e-Insurance account. For each policy, policy level details like the status, commencement, maturity/expiry, nomination, assignment, endorsement, address, terms and conditions etc., would be available. In addition, the e-Insurance account holder will be able to download a copy of the policy bond.

Yes both Nominee and Authorized Representative can be the same person.

Yes. Authorized Representative can be changed by making a request to the Insurance Repository.

NO. As per the IRDA guidelines, an individual cannot open multiple e-Insurance accounts.

After the demise of the e-Insurance account holder and after settlement of all insurance claims, the Authorized representative needs to make a request to the Insurance Repository to close the e-Insurance account.

Yes, the policyholder shall make a request to his insurer and upon completion of all formalities in respect of the same, the hard copy of the policy document shall be made available.

Yes, the e-Insurance account holder will have an option to shift from one Insurance Repository to the other. All the policy details and transaction history would then be transferred to the new Insurance repository.

a) Welcome Kit with details of e-Insurance Account and modus operandi of its operation, the login ID.

b) A Pin mailer with the password.

c) The statement of account giving the details of all policies held whenever additional insurance is taken or a policy matures/ surrendered/ lapses would be provided to the e-insurance account holder.

d) When a new policy is issued the insurer shall send an insurance information sheet containing the basic details of insurance policy to the address stated.

Every Insurance repository will have a policyholders’ grievances cell to address the grievances in respect of repository services and electronic policies held by them.

All requests in respect of either your e-Insurance account or any of the electronic policies may be made to the Insurance Repository. However, requests in respect of the policies can also be made directly with the Insurer concerned.

Upon a request, the Insurance repository would handle all servicing needs that fall within scope of their services directly and would forward the others to the Insurer concerned. An update to the policyholder would be provided by the Insurance Repository on the status of the request in respect of all the requests that it receives.

Identity proof (any one):

    a) PAN Card

    b) UID

    Address proof (any one):

     a) Ration card

     b) Passport

     c) Aadhar letter

     d) Voter ID card

     e) Driving license

     f) Bank Pass Book (not more than 6 months old)

     g) Verified copies of:

          i) Electricity bills (not more than 6 months old)

          ii) Residence Telephone Bills (not more than 6 months old)

          iii) Registered Lease and License agreement / Agreement for sale

    Self-declaration by High Court and Supreme Court judges, giving the new address in respect of their own accounts.

    Identity card/document with address, issued by:

    a) Central/State Government and its Departments

    b) Statutory/Regulatory Authorities

    c) Public Sector Undertakings

    d) Scheduled Commercial Banks

    e) Public Financial Institutions

     f) Colleges affiliated to universities

    g) Professional Bodies such as ICAI, ICWAI, Bar Council etc. to their Members

An Approved Person is a Point of Sale (PoS) appointed by Insurance Repository and will be working on behalf of Insurance Repository to extend the IR services.

An Authorized Representative is a person who is appointed by e-Insurance account holder to operate his/her e-Insurance account in case of unfortunate demise or incapability of e-Insurance account holder to operate the account. The Authorized Representative will intimate the Insurance Repository about the demise/incapability of policyholder with valid proof.

An Authorized Representative has only access rights to the e-Insurance account in the event of demise of the policy holder. The Authorized Representative would only to act as a facilitator and is not entitled to receive any policy benefits unless designated as a 'nominee' or 'assignee' by the deceased policy holder.

An e-Insurance account will be opened within 7 days from the date of submission of application complete in all respects. Once, an account is opened, a welcome kit with the details of how to operate the same would be sent to the applicant/e-Insurance account holder.

NO. e-Insurance account is offered 'free of cost' to the applicants.

The objective of creating an insurance repository is to provide policyholders a facility to keep insurance policies in electronic form and to undertake changes, modifications and revisions in the insurance policy with speed and accuracy. In addition, the repository acts as a single stop for several policy service requirements. The Insurance repository system also brings about efficiency and transparency in the issuance and maintenance of insurance policies.

"Insurance Repository" means a company formed and registered under the Companies Act, 1956 (1 of 1956) and which has been granted a certificate of registration by Insurance Regulatory and Development Authority (IRDA) for maintaining data of insurance policies in Electronic form on behalf of Insurers. The Insurance Repositories provide the ease of holding insurance policies issued in an electronic form.

No, only an entity which is registered under company's act and who is granted a 'Certificate of Registration' by Insurance Regulatory and Development Authority (IRDA) can act as an Insurance Repository.

No, Insurance repositories cannot sell/solicit insurance policies. They are authorized only to maintain the policies in electronic form and provide a service record of all insurance policies.

eIA stands for e-Insurance Account or "Electronic Insurance Account" which will safeguard the insurance policy documents of policyholders in electronic format. This e-Insurance account will facilitate the policyholder by providing access to the insurance portfolio at a click of a button through internet. IRDA has granted the Certificate of Registration to the following five entities to act as 'Insurance repositories' that are authorized to open e-Insurance Accounts:

a) M/s NSDL Database Management Limited

b) M/s CDSL Insurance Repository Limited

c) M/s SHCIL Projects Limited

d) M/s Karvy Insurance Repository Limited

e) M/s CAMS Insurance Repository Services Limited

Each e-Insurance Account will have a unique Account number and each account holder will be granted a unique Login ID and Password to access the electronic policies online.

An e-Insurance account application form is one that is used by an individual to open an e-insurance account with the Insurance Repository. This form would be available with Insurance Company, Insurance Repository or an Approved Person.

An e-Insurance account holder or policyholder is required to:

     a) Fill the e-Insurance account form and

     b) Submit the following documents to the office of Insurance Repository or Insurance company or authorized

Approved Person (AP) appointed by Insurance Repository:

     1. Photo ID

     2. Recent passport size photograph

     3. Cancelled Cheque ( In case of ECS/NEFT services for insurance premium payment transaction) and

     4. Address proof

An e-Insurance account holder or policyholder is required to:

     a) Fill the e-Insurance account form and

     b) Submit the following documents to the office of Insurance Repository or Insurance company or authorized

Approved Person (AP) appointed by Insurance Repository:

     1. Photo ID

     2. Recent passport size photograph

     3. Cancelled Cheque ( In case of ECS/NEFT services for insurance premium payment transaction) and

     4. Address proof

Yes, an individual who is not having any insurance policy can open an e-Insurance account. After buying a policy, the policyholder can give a request for dematerialization to the Insurer or Insurance Repository or Approved Person.

Once e-Insurance account is created, you will receive a welcome kit. A pin mailer shall be sent separately. Using the login credentials and PIN, you can access and start using your e-Insurance account.

Yes, it is possible to convert the existing paper policies into electronic form. A service request may be made to the Insurance Repository or Insurer or the Approved person in this regard.

Once you have opened an e Insurance Account, to buy a new policy in electronic form, you just need to quote your unique e-Insurance account number in your new insurance proposal form and make a request to issue policy in an electronic form.

All Life insurance, Health insurance, General insurance & Annuity policies that are issued by registered insurance companies with IRDA and who have signed up with the Insurance Repositories are eligible to be held in the electronic form.

You will receive a mail and SMS on your registered e-mail id and mobile number.

All the services provided by Insurance repositories are FREE of charge.

A list of all policies that are credited will be available in the e-Insurance account. For each policy, policy level details like the status, commencement, maturity/expiry, nomination, assignment, endorsement, address, terms and conditions etc., would be available. In addition, the e-Insurance account holder will be able to download a copy of the policy bond.

Yes both Nominee and Authorized Representative can be the same person.

Yes. Authorized Representative can be changed by making a request to the Insurance Repository.

NO. As per the IRDA guidelines, an individual cannot open multiple e-Insurance accounts.

After the demise of the e-Insurance account holder and after settlement of all insurance claims, the Authorized representative needs to make a request to the Insurance Repository to close the e-Insurance account.

Yes, the policyholder shall make a request to his insurer and upon completion of all formalities in respect of the same, the hard copy of the policy document shall be made available.

Yes, the e-Insurance account holder will have an option to shift from one Insurance Repository to the other. All the policy details and transaction history would then be transferred to the new Insurance repository.

a) Welcome Kit with details of e-Insurance Account and modus operandi of its operation, the login ID.

b) A Pin mailer with the password.

c) The statement of account giving the details of all policies held whenever additional insurance is taken or a policy matures/ surrendered/ lapses would be provided to the e-insurance account holder.

d) When a new policy is issued the insurer shall send an insurance information sheet containing the basic details of insurance policy to the address stated.

Every Insurance repository will have a policyholders’ grievances cell to address the grievances in respect of repository services and electronic policies held by them.

All requests in respect of either your e-Insurance account or any of the electronic policies may be made to the Insurance Repository. However, requests in respect of the policies can also be made directly with the Insurer concerned.

Upon a request, the Insurance repository would handle all servicing needs that fall within scope of their services directly and would forward the others to the Insurer concerned. An update to the policyholder would be provided by the Insurance Repository on the status of the request in respect of all the requests that it receives.

Identity proof (any one):

    a) PAN Card

    b) UID

    Address proof (any one):

     a) Ration card

     b) Passport

     c) Aadhar letter

     d) Voter ID card

     e) Driving license

     f) Bank Pass Book (not more than 6 months old)

     g) Verified copies of:

          i) Electricity bills (not more than 6 months old)

          ii) Residence Telephone Bills (not more than 6 months old)

          iii) Registered Lease and License agreement / Agreement for sale

    Self-declaration by High Court and Supreme Court judges, giving the new address in respect of their own accounts.

    Identity card/document with address, issued by:

    a) Central/State Government and its Departments

    b) Statutory/Regulatory Authorities

    c) Public Sector Undertakings

    d) Scheduled Commercial Banks

    e) Public Financial Institutions

     f) Colleges affiliated to universities

    g) Professional Bodies such as ICAI, ICWAI, Bar Council etc. to their Members

An Approved Person is a Point of Sale (PoS) appointed by Insurance Repository and will be working on behalf of Insurance Repository to extend the IR services.

An Authorized Representative is a person who is appointed by e-Insurance account holder to operate his/her e-Insurance account in case of unfortunate demise or incapability of e-Insurance account holder to operate the account. The Authorized Representative will intimate the Insurance Repository about the demise/incapability of policyholder with valid proof.

An Authorized Representative has only access rights to the e-Insurance account in the event of demise of the policy holder. The Authorized Representative would only to act as a facilitator and is not entitled to receive any policy benefits unless designated as a 'nominee' or 'assignee' by the deceased policy holder.

An 'asset class' is a group of investment instruments such as equity, debt, cash, etc., which have similar investment risk and return profile. Equities comprise of investments in various company stocks and though contain high levels of risk, are the best performing asset over the long term. Debt investments mainly consist of fixed deposits, government securities, corporate debt, etc. These generate a fixed return and generally face lower risk as compared to equities. Cash investments include saving deposits and short term money market investments and are exposed to negligible risks.

The risk-return profile is the relationship between the risk that an asset class is exposed to and the returns it generates. Generally, higher the risk involved in an asset class, higher is the return associated with it. For example, equity has the potential to generate higher returns than debt, but at a higher risk. Cash on the other hand, though the safest asset class, generates the lowest returns. E.g. An individual who invested in the equity market in April-September 2009 would have generated a whooping 76% returns on his investment but if he had invested in the entire Financial Year 2009 - 2010 he would have incurred a loss on investment of -38%. Further, his investment would have grown at a Compounded Annual Growth Return (CAGR) of approx 23% had he invested for a period of 20 years ending in September 2009. On the other hand, savings in bank will generate a stable return of 3-4% per annum with no downside risk and no upside potential as well whereas value of cash kept at home without investing will keep shrinking over a longer period of time due to inflation.

To determine your risk appetite you will have to consider several factors such as your age, number of dependants, income, future goals, etc. Your risk appetite may not remain constant and change depending on your life stage and financial status.

The process of dividing your investments across different asset classes is known as 'asset allocation'. By spreading your investment across different asset classes, you create a diversified portfolio where the loss that you may make on a certain asset class can be compensated by the profits that you make on another. Thus, you reduce the overall risk of your investments.

Your risk appetite, investment objective and investment horizon will determine the asset allocation between debt and equity. Higher the risk appetite and longer the investment horizon larger will be the allocation towards equity and vice versa. An ideal portfolio should have a judicious mix of various asset classes.

Market capitalization (market cap) represents the total market value of a company. It is calculated by multiplying the number of shares of the company with its current stock price. On the basis of this market cap, companies are segregated into large-caps, mid-caps and small caps. There is however no standard way to categorize the companies on the basis of this value. At ADITYA BIRLA SUN LIFE INSURANCE, we define mid-caps as companies having market capitalization between US$ 100mn to US$ 2bn. Generally, while large caps are considered to be the present industry leaders, mid caps are the emerging leaders of the future. Mid-caps offer higher risk-return profile than large caps. They rise faster than large-caps in bull markets, but may also fall at the same pace. when the markets collapse.

A ‘growth’ stock is one that has the potential to generate higher returns than the overall market, and deliver substantial earnings. The stock is often traded at a higher value due to the expectation of high future earnings. A ‘value’ stock, on the other hand, is one that is undervalued, and is traded at a price that is much lower than its true worth. The undervaluation can be due to many reasons, for e.g. being in an industry which is going through a downturn etc

In top-down investing, overall economic and market environment is assessed to arrive at sectors that are likely to outperform the market. After selecting sectors, specific companies in those sectors are analyzed and chosen for investments. In bottom-up investing, extensive research and analysis is done on individual companies and they are chosen based on their future prospects and not on the basis of significant economic or market cycles. At ADITYA BIRLA SUN LIFE INSURANCE, we adopt a blend of both strategies.

ADITYA BIRLA SUN LIFE INSURANCE focuses on constructing high quality diversified equity portfolio which is skewed towards large-cap stocks with selective exposure to mid-caps. We invest in companies having clear business plans, scalable business model, efficient & visionary management as well as growth prospects. On the debt side, we predominantly invest in highest rated instruments to ensure better portfolio quality and liquidity.

When a company approaches the capital market with an issue of shares for the first time, the issue is called an ‘Initial Public Offering’ or an IPO. This process makes the way for listing and trading of the company’s equity shares on the stock exchanges. ADITYA BIRLA SUN LIFE INSURANCE invests in IPOs of fundamentally strong companies. Prior to investing, ADITYA BIRLA SUN LIFE INSURANCE conducts an in-depth research of the company with an emphasis on management quality and capabilities. An interaction with the company management is also undertaken to get a better understanding of their business model and future plans.

A Unit Linked Insurance Plan (ULIP) is a life insurance policy, which offers the dual benefits of a protection for life and investments. The protection element is the underlying insurance cover while the investment element is that portion of the premium that is invested by the life insurance company on your behalf in a fund of your choice.

ULIP is a unique investment avenue, which helps you fulfill your long-term financial goals. It fosters disciplined investment as it requires you to make investment at regular intervals. Being long-term in nature, it automatically provides a shield against short-term market volatility. It provides flexibility and transparency. Investment portfolios are disclosed on a monthly basis and Fund’s NAVs are disclosed on a daily basis. It offers a range of fund options with different asset allocations meeting the requirement of policyholders with different risk appetite. Investment in ULIP is eligible for tax deduction of Rs 100000 under Section 80(C) of Income Tax Act as per current tax laws

ULIPs are well suited for meeting your long-term financial goals. The premiums paid by investors (net of insurance charges) are invested in funds as mandated by the policyholders. These funds invest in market-linked instruments such as equity, bonds and government securities. Since the returns on ULIPs are market-linked, they too might get impacted in short term. However, long-term returns do not get much impacted by such short-term volatilities. Over a long-term, one should expect favourable returns from ULIPs.

To analyse how well your ULIP has fared, compare the returns with the fund’s benchmark and peer group. The peer group should be of funds with similar asset allocation, investment strategy and asset quality (ratings, market capitalization and diversification). For example, a fund with a 20 per cent equity and 80 per cent debt exposure should be compared against fund options with similar asset allocation only.

A benchmark is an index used by fund managers to compare the fund’s performance and portfolio risk. At ADITYA BIRLA SUN LIFE INSURANCE, we use BSE100 as a benchmark for equity investments, while CRISIL Composite Bond Index, CRISIL Liquid Index or CRISIL Short-Term Bond Index are used for debt investments.

Being a life insurance company, all investments are undertaken with a long-term view. We conduct active fund management and sell stocks if the fundamentals of the company/sector changes, valuations become too stretched or some other investment opportunity looks attractive in relative terms.

• Tax benefits are subject to changes in tax laws.

• Past performance is not indicative of future performance..

• Investment risk in the investment portfolio is borne by the policy holder.

Survival Benefit is the amount which is paid to the policy holder at the end of the policy term on Monthly/Quarterly/Annually basis the due date of the policy.

Submit the survival certificate at nearest ABSLI branch. To locate a ABSLI branch nearest to you, click here: https://www.adityabirlacapital.com/branch-locator (Timings: Monday to Saturday 9:30 am to 6:00 pm).

Or

Submit the Survival Certificate through our Customer Portal.

Follow the below steps to upload the Survival Certificate through Customer Portal

Switch in Fund – Fund Switch is the facility provided to the policy owner to switch existing fund option in the policy to available fund options as per the plan. On receiving this request, the existing fund value is moved to the fund requested by the customer.

Premium redirection – Premium redirection or Premium Allocation is an option given to the customer to redirect future premiums in requested fund available under the plan. Existing funds will continue to remain in old funds unless switch request is accompanied with the premium redirection request.

• Branches: Submit fund switch form duly Signed by the Policy Owner. To locate nearest ABSLI branch click here: https://www.adityabirlacapital.com/branch-locator (Timings: Monday to Saturday 9:30 am to 6:00 pm).


• Email: Submit switch request by writing to us on care.lifeinsurance@adityabirlacapital.com from registered email id. Provided if the client has invested in multiple funds then you have mention in email, the fund to which you wish to transfer and percentage or can also send scan copy of switch form.


• Contact Centre: Submit the request by calling on our toll-free number 1800270700 (Timing: Daily, 10 am – 7 pm).


• Website: Submit fund switch request through Customer Portal.
  
  Follow below steps to submit the request through Customer Portal (Timing: Daily, 10 am – 7 pm).

  Step 1	https://www.adityabirlacapital.com
  Step 2	Click on – PROTECTING – Life Insurance
  Step 3	Click on – Mange My Policy - Switch Fund Option
  Step 4	Update mobile number/Registered Email ID/ Policy Number and Update Primary Life Insured Date of Birth. Click on Send OTP
  Step 5	Once customer Complete OTP process he/she will redirected to Fund Switch / Premium Redirection page.
  Step 6	Customers need to fulfill all requirement asked on page
  Step 7	On this screen it will show you the current funds with fund value and below you can enter the %age of fund where you want to do switching and click on "NEXT"
  Step 8	Submit the request once all details are mentioned.

Important Points:

• In case of Investor profile change from guaranteed to self-managed fund, client must opt both “Fund Switch” and “Re – direction” option on fund switch from existing fund to new funds and re- allocation for future fund allocation.

Example:

If Fund Switch/premium redirection request is received and accepted at branch/contact centre/website before or at 3.00 pm then applicable NAV will be of the same day provided it is a business working day or else NAV of next working day is applied.

If Switch in fund/premium redirection request is received and accepted at branch/contact centre/website after 3.00 pm then applicable NAV will of the next day provided it is a business working day or else NAV of next working day is applied. Also, If the request is submitted on holidays then applicable NAV will be of next day.

If your Bank account details are already updated, maturity benefits would be automatically transferred to the registered bank account, depending upon the plan features.

To check your registered bank details or to register/update your bank details now, click here: https://lifeinsurance.adityabirlacapital.com/customer-service/manage-your-policy/edit-bank-account-details

In case you don’t receive the Maturity amount or cheque in 15 days from the Maturity date, you may reach out to our customer support through Email/Call/Branch.

Note - 1: While submitting the documents through Email/Branch, if the request is submitted by any person other than the policy owner, photo id proof of that person is also required.

Note - 2: In case of NRE transfer, bank statement with premium payment transactions need to be submitted at the customer support touchpoints.

NRI customers can also send Email to our NRI helpdesk : Absli.nrihelpdesk@adityabirlacapital.com

Note - 3: In case of Maturity of Deferred Pension Plan, Please reach out to any of the customer support touchpoints to opt out commutation and annuity benefit.

For further assistance, reach us at:

• Call us: 18002707000 (Timings: Daily, 10 am - 7 pm)
• Email Us: care.lifeinsurance@adityabirlacapital.com

ABSLI Branch visiting hours: To locate a ABSLI branch nearest to you, click here: https://www.adityabirlacapital.com/branch-locator (Timings: Monday to Saturday 9:30 am to 6:00 pm)

The policy number consists of nine digits and can be found at the right hand side of the first premium receipt of your policy document.

This is a unique identification number that distinguishes your policies from other policies and will remain unchanged throughout the lifetime of the policy.

Remember to quote the policy number every time in your correspondence, as it helps us to locate your records for reference.

Whereas, the client ID consists of ten digits, which is located at the left hand side of the first premium receipt of your policy document. This ID remains unique if you have more than one policy with us.

This provides an alternative to your policy number. Easy to remember one client ID, if you have more than one policy number.

Every policy is taken for different types of needs; therefore the conditions for your policy will vary according to the Plan and Term of the policy.

Policy document consist of a. Your Personal Details, b. First Premium Receipt and c. Your Policy Details. Hence it is important that you read the policy document and understand the policy conditions. The details like annual premium for your policy, the premium payment term and the term of the policy, the maturity date of the policy, the maturity value of the policy are mentioned in the policy document's' Your Policy Details' page.

The policy features are stated in the policy value provisions. Request you to refer to the policy value provisions depending upon your requirement you may avail the features offered.

Kindly make a thorough search before concluding that you have lost the policy document. Look for the same within your residence, among your investment papers, at your office and even with your agent to whom you might have entrusted the document for some reason.

It could have been even pledged with us/any other financial institution for availing a loan by you. We retain the policy document when you go in for a loan against the policy. Make sure that the document you are searching is not one that has already been assigned to us, or to another financial institution.

If the policy document is partially destroyed due to natural causes like, fire, flood, etc, the remaining portion may be returned as evidence of loss of policy to us, while applying for a duplicate policy.

In case you are sure that the policy document is untraceable due to unknown causes, there is a simple procedure to comply with while applying for the duplicate policy at the branch that services your policy. You may submit an Indemnity bond executed on a stamp paper of Rs. 500 if you reside within Maharashtra or Rs. 200 if you reside outside of Maharashtra. The stamp paper needs to be duly signed by you (policy owner) along with the below requirements.

• Self-attested Address proof (validity 6 months), also to be attested by ABSLI authorized signatory.
• Self-attested Identity proof also to be attested by ABSLI authorized signatory.


To locate the nearest branch, click here

Once we receive your request, the duplicate policy documents will be dispatched to your registered mailing address within 10 days.

Your address is very important for us. Without your latest address we would not be in a position to contact you for any service offering. We would not like to keep any benefit that is due to you pending for want of this very important information. Whenever you shift residences, please inform the new address to us. Otherwise any communication we send to you, like premium notices, discharge vouchers for maturity and survival benefits etc., will get delayed in reaching you

To change your address, you may submit a Policy service request form to any of our branches, along with the below requirements;

• Self-attested Address proof (validity 6 months), also to be attested by ABSLI authorized signatory.
• Self-attested Identity proof also to be attested by ABSLI authorized signatory

You can update your contact numbers and email addresses on our website using your CIP / TPIN.

Do let us know in case of any change of name by providing a copy of the gazette notification or a copy of the marriage certificate in case of change in name due to marriage. For all other request with significant name change, a copy of the gazette notification is required. Certified true copy (ies) of the supporting document should also be enclosed.

In case of a correction in name, please enclose a copy of any of the following:

• Passport
• PAN Card
• Voter's Identity Card
• Driving license
You may submit a Policy service request form to any of our branches along with the above stated requirement(s).


To locate the nearest branch, click here

Once we receive your request, the name change endorsement letter will be dispatched to your registered mailing address within 10 days.

Nomination enables speedy processing of claims ensuring that your loved ones get hassle free-access to the policy benefits in their hour of need.

Nominee is possible where owner and insured is the same person.

You may nominate more than one person under a policy; however percentage wise nomination is permitted. You may also change/add nominees anytime during the tenure of the policy.

A minor can be nominated, however for all such nomination an appointee who is a Major need to be appointed.

Click here for the Nomination form to be used for fresh/addition/change of nominee. The form should be completely filled in all respects.

Assignment is a means whereby the beneficial interest, rights and title under a policy get transferred from assignor to assignee. Insurance Act, 1938 recognizes only one mode of transfer of ownership of an insurance policy i.e., assignment under Section 38 of the Act.

Assignor is the policy owner who transfers the title of the policy and assignee is the person who derives the title to the policy from the assignor.

To assign the policy you can fill the Assignment form and submit to any of our branches along with the below requirements.

Original Policy contract/document

• Photograph of the proposes/new policy owner Not required in case of assignment to banks/Financial Institutions for loan.
Note: In case of assignment to banks /Financial Institutions for loan the following documents are required;

Identity Proof

• Passport
• PAN card
• Voter's Identity card
• Driving license
• Letter from any recognised public authority or public servant verifying the identity and residence of the customer

Residence Proof (last 3 months)

• Telephone bill
• Bank account statement
• Electricity bill
• Ration card
• Letter from any recognized public authority.

Income Proof (only in case of the total annual premium contribution for all the policies attached to the assignee id is Rs. 1 Lakh or above. Policies where assignee is owner and payee or just payee need to be considered for this calculation).

Yes, you need to fill up the Deed of Relinquishment form along with the below mentioned requirement/s;

• Change in ownership form
• Deed of relinquishment DOR should be notarized on a Rs.200 stamp paper
• Death certificate
• Photograph of the proposed policy owner
• Proof of identity of the proposed policy owner
• Proof of residence of the proposed policy owner
• Proof of Income of the proposed owner.

Note: The income proof is required only in case of the total annual premium contribution for all the policies attached to the assignee id is Rs. 1 Lakh or above. Policies where assignee is owner and payee or just payee need to be considered for this calculation.

Remember to pay your premium in time i.e. on the due date mentioned in the policy document. Aditya Birla Sun Life Insurance sends renewal notice one month prior to your due date. However there may be postal delays / issues leading to non receipt / delay in receipt of renewal notice.

In case you have not paid the premium within the due date there is still time for you to make the payments without payment of interest on the premium. This period is called the grace period.

The grace period for policies where the premium payment mode is monthly is 15 days from the due date. (For plans issued from September 01, 2010)

The grace period for policies where the premium payment mode is quarterly, half-yearly or yearly is one month but not less than 30 days.

Online payment - Make an online payment on our website - www.lifeinsurance.adityabirlacapital.com.

ECS / Direct Debit – Make regular premium payment debit from your bank account by registering for ECS / Direct Debit. To download the form Click here.

Direct Debit from credit card – Enroll your credit card and avail the benefit of SIP. To download the form Click here.

Branch Office - You can pay your premiums at our branch by cheque or cash.

Bill Junction / Bill Desk – You can also authorize your premium payments online through Bill Desk / Bill Junction.

NEFT - NEFT is a secure way of making premium payment on the bank's website.

Activating the ECS facility is a one-time activity. The policyholder should fill up the Auto Debit Form and get it verified and certified by the Bank where the Bank Account is maintained. The Mandate form should be sent to the nearest ABSLI branch with an original cancelled cheque.

It takes 30 days for the first time.

• What does this service cost me?
It costs nothing. This service is free of charge

• When will the premium amount get debited?
Premium amount will get debited on the due date. If the due date falls on a holiday, the same will get debited a day or two after the date depending upon on the RBI cycle.

• Do I get the receipt for my auto premium payments?
Yes. A Tax certificate detailing all the premiums received in the financial year will be sent to you in the last quarter of that financial year.

• Can I cancel this facility if once availed?
Yes. You can cancel this facility at any time but we must receive the request / letter for cancellation two weeks prior to the due date.

A policy lapses when the policy holder fails to pay the premium even within the grace period. In this case, the policy loses all its benefits.

You may revive the policy depending upon when you approach us for revival of the policy

Less than 180 days of lapsation Amount as Per Reinstatement Quotation

Between 181 to 365 days of lapsation Amount as Per Reinstatement Quotation

Certificate of Insurability Duly filled and signed

Note: Further requirements can be called

Between 366 to 730 days of lapsation Amount as Per Reinstatement Quotation

Certificate of Insurability Duly filled and signed

Medicals depending upon the Sum at Risk

Note: Rs. 100/- per revival is charges and reserve the rights to increase this charge at any time in the future, subject to a maximum of Rs. 1000/- per revival.

The feature of Change in frequency is allowed and varies from product to product. For more details on the applicability for your policy, you are requested to refer to your policy contract.

The requirements for Change in frequency are as under:

Update the new frequency on our website using your Username and Password.

Policy service request form duly signed by the policy owner.

Call on the call center to take the request for change of frequency.

Note: If mode of the policy needs to be changed to Monthly, then the method should be ECS, Direct Debit or Credit Card.

Yes you may increase the sum assured (plan specific) by submitting following things A Letter written and signed by the Policy owner. Fresh Application copy Premium amount All medical and other applicable underwriting requirements.

Yes you may decrease the sum assured (plan specific) by submitting following things

A Letter written and signed by the Policy owner.

Original policy document.

Note: The reduction in sum assured will be effective the next policy monthiversary date coinciding with or immediately following the date of receipt of the above requirements. Eg: In case policy issue date is 24/01/2009, then 24th of every month is referred to as monthiversary.

Yes you may add any rider (plan specific) by submitting following things

• A Letter written and signed by the Policy owner.
• Illustration
• Rider Premium
• Certificate of insurability

Note

• Rider can be added only after completion of the first Policy year.
• Rider cannot be added if life insured is minor
• Riders are not allowed for NRI customers
• Addition of rider is subject to Underwriting decision

Payouts refer to Availing loan on your policy, Partial withdrawal from your policy or Surrender/Closure of your policy.

You may take a loan against your policy once it has acquired a surrender value. Please refer to your Policy document for details minimum and maximum loan. We shall charge interest on the outstanding loan balance at a rate declared by us from time to time based on then prevailing market conditions.

Partial withdrawal of a policy implies withdrawal of only a part of the funds of your policy. The applicable norms for partial withdrawal may differ for every product. Please refer policy document for details.

When the policy term is complete, you can avail the maturity benefits.

For Non Pension Policies you can also transfer your maturity proceeds towards the initial premium of a new policy.

For Pension Policies you can also transfer 1/3rd of your vesting benefit amount towards the initial premium of a new policy.

You may submit a Payout form(for Loan, Withdrawal and Maturity) or Policy Cancellation form (for Surrender) for availing payouts.

Please ensure that below requirements are met for availing payouts;

• Duly filled Payout/Cancellation form.
• Original policy document (except in case of Withdrawal).
• KYC (In case of any change in address).
• Self attested valid photo ID proof signed by authorized ABSLI personnel.
• Original cancelled cheque with pre-printed name and account number or
• Bank passbook/statement with pre-printed name and account number duly attested by authorized ABSLI personnel.

Note - 1: In case the payout request is submitted by any person other than the policy owner, the photo id proof of that person is also required.

Note - 2: Direct transfer/ RTGS not available for NRE accounts. If the customer needs to deposit the cheque into his NRE account then he should provide a letter from the bank / copy of bank statement to prove that the payment towards premiums have been done through a NRE account to enable us to issue a repatriation letter.

A switch will enable you to shift the existing units of your unit-linked policy into a new fund and will not change your future premium allocation. A premium redirection will enable you to change your allocation for all the future premiums of your policy. However, your existing units will not be shifted into a new fund.

To switch or redirect or both you may;

Update the fund details on our website using your Username and Password.

Switch form duly signed by the policy owner.

Call on the call centre to take the request for change of fund details.

The Net Asset Value (NAV) is applicable at the time of valuation/purchase. It is calculated as the value on the day you make a transaction request (provided it is a working day).

Top Up premium is the additional amount/s paid by you within a policy year over and above the annual policy premium. The Top Up premium can be paid along with the Top Up at any of our branches.

Please refer to your Policy document for details on charges/minimum and maximum amount of Top Ups.

Top up premium shall have a lock in period of three years (for plans issued prior September 01, 2010) and five years (for plans issued on or after September 01, 2010) from the date of payment of that top up premium.

Top ups are not allowed during the last three years (for plans issued prior September 01, 2010) and five years (for plans issued on or after September 01, 2010) of the policy contract.

The following are the broad benefits of holding Insurance Policies in electronic form:

a) Safety: There is no risk of loss or damage of a policy as is common with paper policies; the electronic form ensures that the policies are in safe custody and can be easily accessed whenever and wherever needed. A copy of the policy can be downloaded at any time by accessing the e-Insurance account.

b) Convenience: All insurance policies, be it life, pension, health or general, can be electronically held under a single e-Insurance account. This means all details of all policies are available in a single account (place). The details of any of the policies can be accessed at any time by logging on to the online portal of Insurance Repository.

c) Single Point of Service: Service requests in respect of e-Insurance account or any of the electronic policy can be submitted at any of Insurance Repository's service points. A single request can sometimes cater to the requirements of several Insurers. As an illustration, a single change of address request made to the Insurance Repository can update the policies issued by multiple Insurers. There would be no need to go to several offices of individual Insurers for service.

d) Less Paper work and savings in time: An e-Insurance account holder is freed from the trouble of submitting KYC details each time a new policy is taken. Further, any changes in personal details like address or contact number can be effected through a single request thus saving on paper and time.

e) Statement of Account: At least once every year, the Insurance repository would send a statement of account to the e–Insurance account holder with the details of the policies of the account holder.

f) Payment Options: Premium for all the policies can be paid online and several service requests can be logged from the e-Insurance account.

g) Increased number of service touch points: Since, the Insurance repositories function in addition to the Insurers, the policyholders will have increased number of touch points for having their servicing needs attended.

h) Easy payout transfers: Policy benefits would be paid through electronic facility to the registered bank account, thus ensuring speedier and convenient settlement.

i) Single view: Single view of all policies will be made available to an authorized person in case of death of the e-Insurance account holder.

Customer can opt-in for whatsApp Notification by following 3 option mentioned below.

1) Miss call (By giving miss call on 7676690033 for opt in from registered mobile number)*

2) SMS (Sending an SMS with “OPTIN” to 567679 from registered mobile number)*

3) Customer Portal (By logging in to the portal through OneABC ID)*

Goods and Services Tax (GST), is a new Indirect Tax based on the concept of “One Nation One Tax”. It replaces the existing indirect taxes such as Service Tax, Vat, Excise Duty etc.

GST comes in applicable from 1st July 2017.

GST will be levied on supply of both, Goods and Services.

All present day Central and State taxes like VAT, Excise Duty, Service Tax etc will be subsumed in GST and only one tax

Yes GST is applicable on Insurance Premium.

Different types of life insurance products will attract different taxable rates.

Intra-state means where buyer/service provider and seller/service recipient are located within same State.

Inter-state means where buyer/ service provider or seller/ service recipient are located in different States

On intra-State supply of goods or services a Central GST (CGST) plus a State GST (SGST) would be levied proportionately. In case of Union territories Central GST (CGST) plus a Union Territory GST (UTGST) would be levied proportionately.

For inter-state supply of goods and services and Integrated GST (IGST) will be levied by the Central Government