Life Insurance

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Give ₹ 1 Lakh/year for 10 years and get ₹ 20.09 lakhs⁴ guaranteed benefit

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Life Insurance Meaning

Life insurance is more than just a policy; it's a cornerstone of comprehensive financial planning. At its core, a life insurance policy is a contract between you and an insurance provider. In exchange for your premium payments, the insurer promises to pay a designated beneficiary a sum of money upon your passing. But it's not just about leaving behind financial support; it's about securing peace of mind for you and your loved ones.

Moreover, certain types of life insurance policies offer the added benefit of paying out a sum of money upon maturity, serving not just as a safety net but also to accumulate a corpus. This maturity benefit allows you to plan and fulfil personal and family aspirations, making life insurance a versatile tool in achieving your short-term and long-term financial goals.

With life insurance, you're not just planning for the unexpected – you're investing in a future where your family's financial stability is assured, regardless of life's uncertainties.

Why is Life Insurance Essential for Financial Planning?

Incorporating life insurance into your financial strategy is a pivotal step towards holistic financial health. It ensures that in your absence, your loved ones aren't burdened by financial stress. Life Insurance helps your family to get back on their feet and make them financially secure when life takes an unforeseen turn.

Moreover, with life insurance plans having a maturity benefit as well, it ensures that you can meet your financial goals with ease.

Life Insurance can be a powerful tool for:

1. Providing for Your Family: It replaces lost income, helping your family maintain their standard of living.
2. Debt Protection: Ensures your debts or loans aren’t passed on to your family, the sum assured takes care of it.
3. Educational Support: Secure your children's educational future even in your absence.
4. Estate Planning: Helps in estate planning, ensuring your assets are distributed according to your wishes.
5. Retirement Planning: Certain life insurance policies accumulate cash value over time, offering a source of income in retirement.
6. Wealth Accumulation: With maturity benefits, you can plan for your short-term and long-term financial goals, and help your family reach new milestones.

By choosing a life insurance plan, you're not just planning for the unexpected; you're ensuring a secure financial future, ensuring that your family's dreams and well-being are protected no matter what life brings.

Different Types of Life Insurance Plans

Aditya Birla Sun Life Insurance (ABSLI) offers various life insurance plans to cater to diverse needs. Primarily, these can be categorised into Term Plans (Pure risk cover) and Investment Plans (Risk Protection + Investment Option).

Let's explore each:

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Term Life Insurance
Term life insurance provides coverage for a specific period or "term." If the policyholder passes away within this term, the beneficiaries receive the death benefit. It's the simplest and most affordable type of life insurance with a huge sum assured at a lowest premium, offering pure death risk cover without any savings component.
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Endowment Plans
Endowment plans, are a combination of life insurance and savings. These policies pay out the sum assured under both scenarios: if the policyholder survives the policy term, the policyholder receives survival benefit and in case of their untimely death during the policy term, beneficiary receives the death benefit. They are designed to build a corpus for future financial needs.
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Whole Life Insurance
Whole life insurance offers coverage that lasts your entire lifetime, ensuring that beneficiaries receive a death benefit no matter when you pass away. Some whole life policies also accumulate cash value over time, which can be withdrawn or borrowed against, if required.
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Unit Linked Insurance Plans (ULIPs)
ULIPs offer a combination of investment and insurance. A portion of the premium goes towards life cover, while the rest is invested in various equity and debt funds. These plans are linked to the capital market and offer the potential for higher returns but come with investment risks.
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Money-Back Plans
Money-back plans are a type of endowment plan that periodically returns a portion of the sum assured as a survival benefit during the policy term, with the remaining sum assured paid as maturity benefit if the policyholder survives the term.
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Child Plans
Child plans are insurance-investment plans designed specifically to meet the future financial needs of children, such as education. These plans typically offer a lump sum payment on the maturity of the policy or in the event of the policyholder's death that helps in child.
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Retirement Plans
Retirement or pension plans. are designed to build a retirement corpus for policyholders. They ensure a steady income after retirement in the form of annuities or lump sum payments. These plans can be with or without a life cover component.

Quick Comparison Between Different Life Insurance Plans

Feature

Pure Risk Protection

(Term Insurance)

Risk Protection + Investment

(Endowment, Whole Life, ULIPs, Child)

Premium

Lower

Higher

Sum Assured

Fixed Amount

Fixed Amount + Investment Returns

Death Benefit

High Sum Assured

Basic Sum Assured + Investment Returns

Survival Benefit

None

Maturity Benefits Including Investment Returns

Purpose of Buying

Financial Security with High Sum Assured for Beneficiaries in the case of untimely death during the policy term

Financial Security + Wealth Creation / Savings to fulfil short-term & long-term goals

Most Popular Life Insurance Plans by ABSLI

ABSLI offers a range of life insurance plans tailored to meet various needs and preferences. Here's a glance at some of the most popular options:

Plan Name

Plan Type

Key Features and Benefits

ABSLI Nishchit Aayush Plan

Savings Plan

- Offers guaranteed# income for a fixed term post-maturity.

- Provides life cover along with savings benefits.

- Flexibility in choosing premium payment and policy terms.

ABSLI Assured Savings Plan

Savings Plan

- Guaranteed# additions to enhance your corpus.

- Life insurance cover plus savings for your future needs.

- Flexibility in premium payments and policy terms.

ABSLI DigiShield Plan

Term Plan

- Comprehensive term insurance with multiple plan options.

- Flexible premium payment and policy term choices.

- Option to enhance coverage with riders.

ABSLI Salaried Term Plan

Term Plan

- Tailored term insurance for salaried individuals.

- Affordable premiums with substantial life cover.

- Simple and convenient online application process.

ABSLI Assured Income Plus

Savings Plan

- Guaranteed# income for a defined period after maturity.

- Life cover along with regular income.

- Bonus accumulation potential, enhancing the policy's value.

ABSLI Wealth Aspire Plan

ULIP Plan

- Market-linked returns with life insurance cover.

- Choice of multiple investment funds.

- Flexibility to switch between funds and premium redirection.

ABSLI Guaranteed Annuity Plus

Annuity Plan

- Regular income post-retirement.

- Multiple annuity options to suit individual needs.

- Option for life cover and return of purchase price.


Each of these life insurance plans is designed to cater to specific financial goals, whether it’s securing your family’s future, saving for life goals, or growing your wealth. It’s important to assess your personal needs and financial objectives when choosing the most suitable life insurance plan.
Not sure which life insurance plans suit your needs? Get in touch with our experts at ABSLI to understand more.

Why Buy Aditya Birla Sun Life Insurance Plan?

Choosing Aditya Birla Sun Life Insurance (ABSLI) for your life insurance needs means more than just securing a policy; it's about entrusting your financial future to a name synonymous with reliability and excellence. Here's why ABSLI stands out:

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Comprehensive Coverage
ABSLI offers a diverse range of plans, ensuring that there's a solution for every need, whether it's pure protection, wealth accumulation, or retirement planning.
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Customization and Flexibility
With options to tailor coverage, premium payment terms, and benefit payouts, these plans adapt to your evolving life stages and financial goals.
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Innovative Products
ABSLI is known for its innovative life insurance products that are designed to offer maximum benefits, keeping in mind the changing market dynamics and customer needs.
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Financial Stability
Backed by a legacy of financial expertise, ABSLI promises the stability and reliability you need when planning for life's most significant moments.
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Customer-Centric Approach
ABSLI's dedication to customer service is evident in our easy-to-understand policies, transparent processes, and responsive customer support.
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Trusted Brand
Part of a well-respected conglomerate, ABSLI has earned the trust of millions, standing as a testament to its commitment to excellence and customer satisfaction.

About Life Insurance Riders

Life insurance riders are additional benefits that can be attached to a base life insurance policy, offering added protection and coverage options. ABSLI provides a range of riders to enhance your insurance plan:

1. ABSLI Accidental Death and Disability Rider: Offers additional sum assured in case of accidental death or disability, ensuring extra financial support during tough times.
2. ABSLI Critical Illness Rider: Provides a lump sum benefit on the diagnosis of specified critical illnesses, helping you manage high medical expenses and focus on recovery.
3. ABSLI Surgical Care Rider: Ensures financial assistance in case of surgical procedures, easing the burden of healthcare costs.
4. ABSLI Hospital Care Rider: Offers daily cash benefit and ICU benefits during hospitalisation, mitigating the financial strain of prolonged medical treatment.
5. ABSLI Waiver of Premium Rider: Ensures that your policy remains in force by waiving off future premiums in case of total permanent disability or critical illness.

Life insurance riders enable you to widen the coverage and to customise your insurance policy to fit your specific needs, providing peace of mind that goes beyond basic life cover.

Know How the ABSLI Life Insurance Calculator Works!

The ABSLI Life Insurance Calculator is a user-friendly online tool designed to help you estimate the appropriate amount of life insurance coverage you need. Here's how it works:

1. Basic Information: Enter basic details such as age, gender, income, and family structure. This helps in assessing your current life stage and financial responsibilities.
2. Financial Goals and Liabilities: Input information about your financial goals (like children's education, and marriage) and any existing liabilities (loans, debts).
3. Current Savings and Investments: Provide details about your existing savings and investments. This helps in determining how much more you need to secure your family's future.
4. Inflation and Future Costs: The calculator takes into account inflation and the increasing cost of living, ensuring that the coverage recommended is sufficient for future needs.
5. Result: Based on the information provided, the calculator suggests an optimal life insurance cover amount. This estimate helps in making an informed decision when choosing a life insurance plan.

The ABSLI Life Insurance Calculator simplifies the complex task of calculating life insurance needs, ensuring you can make a choice that's tailored to your unique situation.

Factors Affecting Your Life Insurance Premium

The cost of your life insurance premium is influenced by several factors, each playing a crucial role in determining the amount you pay.
Some of the key factors affecting life insurance policy premium include:

1. Age: Younger applicants typically pay lower premiums as they are considered less risky to untimely death compared to older individuals.
2. Health: Your current health condition, including any pre-existing medical issues, has a significant impact on premium costs. Healthier individuals usually enjoy lower premiums.
3. Lifestyle Choices: Habits like smoking or excessive alcohol consumption can increase your premium due to higher health risks associated with such lifestyles.
4. Occupation: Jobs that are considered high-risk can lead to higher premiums. If your profession exposes you to danger, insurers might charge more.
5. Policy Term and Coverage Amount: Longer policy terms and higher coverage amounts typically result in higher premiums.
6. Riders and Add-ons: Adding riders for extra protection increases the premium, as it enhances the scope of your insurance coverage.
7. Gender: In some cases, gender may influence premium rates due to the statistical variance in life expectancy.
Understanding these factors can help you make informed decisions about your life insurance policy, ensuring you choose the right coverage at a cost that aligns with your financial plan.

How to File a Life Insurance Claim with Us?

Filing a life insurance claim, whether it's for a death benefit or a maturity/survival benefit, can be done both online and offline. Here's a step-by-step guide for each process:

Online Life Insurance Policy Claim Process:

1. Visit the ABSLI Website: Go to the official website and locate the 'Claims' section.
2. Submit Claim Form: Fill in the necessary details in the online claim form. For a death benefit claim, provide details of the policyholder and the cause of death. For maturity/survival claims, details of the policy are required.
3. Upload Documents: Attach the required documents (listed below).
4. Claim Review: ABSLI will review the claim and may contact you for additional information if needed.
5. Claim Settlement: Once approved, the claim amount will be transferred to the policyholder’s bank account in case of maturity benefit or beneficiary's bank account in case of death benefit.

Offline Life Insurance Policy Claim Process:

1. Visit ABSLI Branch: Go to the nearest ABSLI branch.
2. Submit Claim Form and Documents: Fill out the claim form and submit it along with the necessary documents.
3. Claim Processing: The claim will be processed by ABSLI after thorough verification.
4. Claim Disbursement: Upon approval, the claim amount will be provided to the beneficiary.
5. Death Benefit Claim: Requires submission of death certificate, policy document, and identity proof of the beneficiary.

Maturity/Survival Benefit Claim: Requires submission of original policy document, identity proof, and bank details for fund transfer.

What Documents are Needed for Filing a Life Insurance Claim?
The required documents for filing a life insurance claim with ABSLI vary based on the type of claim:

For Death Benefit Claim:

1. Death Certificate of the policyholder.
2. Original or attested copy of the policy document.
3. Identity proof of the claimant (Aadhar card, PAN card, etc.).
4. Bank account details of the claimant for the transfer of the claim amount.
5. Any other document as required by ABSLI (medical reports, hospital records in case of death due to illness).

For Maturity/Survival Benefit Claim:

1. Original policy document.
2. Identity proof of the policyholder.
3. Bank details for the transfer of the maturity amount.
4. A duly filled discharge form in some cases.

It’s important to provide accurate and complete documentation to ensure a smooth and quick claim settlement process.

So, What Should You Do Next?

1. Explore Your Options: Dive into the world of ABSLI life insurance policies. Each policy is crafted with your needs in mind, offering a blend of protection, savings, and wealth creation. Whether you're looking for term insurance, whole life plans, or investment-centric policies, ABSLI has options that cater to every need and life stage.

2. Connect with Experts: The journey of choosing the right insurance can be intricate. That's where our experts come in. The ABSLI team is not just well-versed in insurance solutions but also understands the nuances of effective financial planning. They are here to guide you, answer your questions, and help tailor a policy that fits your unique requirements.

3. Take the First Step: Reach out to us! Visit the ABSLI website, call our helpline, or drop by at our nearest branch. Our professionals are ready to assist you in navigating through your options and ensuring that you make a choice that brings peace of mind and financial security.

4. Secure Your Future Today: Remember, the best time to buy life insurance is now. Delaying can result in higher premiums and reduced benefits. Take charge of your financial future today and embrace a life of security and assurance with ABSLI.

5. We're Here to Help: Your journey with ABSLI doesn't end at purchasing a policy; it's just the beginning of a lifelong commitment to your well-being and peace of mind. Our support and services are always at your disposal, ensuring that your experience of buying life insurance in India is seamless and rewarding.

6. Act Now: Don’t wait for tomorrow what you can secure today. Research, reach out, and let us help you embark on a path of financial security and prosperity with Aditya Birla Sun Life Insurance. Buy life insurance online or offline today.

FAQs on Life Insurance

To check your life insurance policy details online, you need to follow a few simple steps:
  • Visit the ABSLI Website: Go to the official website of ABSLI.
  • Log In to Your Account: If you're a registered user, log in using your credentials. If you haven't registered yet, you may need to create an account using your policy number, date of birth, and other personal details..
  • Access Your Policy Details: Once logged in, navigate to the section where your policy details are displayed. This usually includes your policy status, premium details, nominee information, and other relevant data..
  • Download/View Documents: Often, there's an option to download or view your policy documents for your reference.
  • Customer Support: If you face any issues or need additional information, you can always contact the insurer’s customer support for assistance..
Buying life insurance online is a streamlined process. Here are the typical documents you need:
  • Identity Proof: A valid government-issued ID such as a passport, driver's license, or Aadhar card.
  • Age Proof: Documents like your birth certificate, passport, or PAN card can be used to verify your age.
  • Address Proof: Utility bills, bank statements, or government-issued documents that have your current address.
  • Income Proof: Recent salary slips, Income Tax Return (ITR) documents, or an employer's certificate that validates your income.
  • Medical Records: Depending on the policy and the insurer, you might be asked for medical reports or a declaration of good health.
  • Photograph: A recent passport-sized photograph.
  • Other Documents: Depending on the insurer, there might be additional forms or declarations to be filled out.
Life insurance is crucial for several reasons:
  • Financial Security: It provides financial security to your loved ones in the event of your untimely demise, ensuring they are not burdened by debts or living expenses.
  • Debt Protection: Helps in covering any outstanding debts, like home loans or personal loans, so that the burden doesn’t fall on your family.
  • Income Replacement: Acts as an income replacement, especially if you are the primary breadwinner of the family.
  • Long-Term Goals: Assists in achieving long-term financial goals like children’s education or retirement planning, depending on the type of policy you choose.
  • Tax Benefits*: Offers tax benefits* under various sections of the Income Tax Act, adding to your savings.
Choosing the right sum assured requires careful consideration of several factors:
  • Income and Expenditure: Consider your current income, regular expenses, and the lifestyle you wish to secure for your family.
  • Financial Liabilities: Factor in debts like loans or mortgages that need to be paid off.
  • Future Goals: Account for future financial obligations, like children’s education or marriage.
  • Inflation: Keep in mind the impact of inflation on future expenses.
  • Insurance Needs: Analyze how much financial coverage your family would need in your absence.
  • Affordability: Choose a sum assured that aligns with a premium you can comfortably afford.
A life insurance premium is the amount you pay to the insurance company to keep your life insurance policy active. It can be paid monthly, quarterly, semi-annually, or annually. The premium amount is determined based on factors such as the policyholder’s age, health, sum assured, policy term, and the type of life insurance policy chosen. It's essentially the cost you incur for the life cover and other benefits provided by the policy.
The life insurance premium is determined by the insurance company. At ABSLI, we use actuarial science to calculate the premium, taking into account:
  • Age: Younger applicants generally pay lower premiums as they are considered less risky.
  • Health: Medical history and current health status can affect premium rates.
  • Lifestyle: Habits like smoking or high-risk hobbies can lead to higher premiums.
  • Policy Type and Term: Different types of policies and coverage periods have varying premium rates.
  • Sum Assured: Higher the sum assured, higher the premium.
  • Riders/Add-ons: Additional coverage options selected can increase the premium.
The following is what takes place when you do not pay your premium on time:
  • Grace Period: Most policies offer a grace period (typically 15-30 days) after the due date for paying the premium without losing coverage.
  • Policy Lapse: If the premium is not paid within the grace period, the policy may lapse, and the coverage will cease.
  • Reinstatement: Many insurers allow policy reinstatement within a specific period post-lapse, but this may involve paying all due premiums, interest, and possibly undergoing a medical examination.
  • Loss of Benefits: A lapsed policy means loss of life cover, and in the case of certain policies, a loss of accumulated benefits or bonuses.
This depends on the type of policy:
  • Term Insurance: Usually, there are no survival benefits under pure term insurance policies.
  • Endowment Plans, Whole Life Insurance, ULIPs: These policies often include survival benefits, paying out a maturity amount if you outlive the policy term.
To claim life insurance after the policyholder's death, follow these steps:
  • Notification: Inform the insurance company about the policyholder’s death as soon as possible.
  • Documentation: Submit the required documents, which typically include the death certificate, policy documents, ID proof of the beneficiary, and a claim form.
  • Claim Processing: We will process the claim after verifying the documents.
  • Claim Settlement: Once the claim is approved, the death benefit is paid to the nominee(s).
  • Financial Protection: Life insurance is worth buying for financial protection and peace of mind, ensuring that your family remains financially secure in your absence
  • Debt Coverage: It can cover outstanding debts, preventing financial burden on your family.
  • Tax Benefits*: Offers tax savings, which can be an added incentive.
  • Investment Component: Some life insurance policies come with an investment component, aiding in wealth creation over time.
  • Individual Needs: The worth of life insurance ultimately depends on individual circumstances, financial goals, and family responsibilities.
  • Multiple Beneficiaries: You can name multiple beneficiaries on a life insurance policy. The number can vary based on the policy terms and the insurer's guidelines.
  • Primary and Contingent: Beneficiaries are often categorized as primary (first in line to receive the death benefit) and contingent (receive the benefit if the primary beneficiaries are deceased).
  • Percentage Allocation: You can specify the percentage of the death benefit each beneficiary will receive. This allocation must total 100%.
  • Changes and Updates: It's important to regularly review and update beneficiary information, especially after major life events like marriage, divorce, or the birth of a child.
  • Claim Process Duration: The time it takes to receive the life insurance amount after a death can vary. Typically, once a claim is filed with the necessary documentation, the insurance company may take a few days to a few weeks to process the claim.
  • Documentation and Verification: Prompt submission of required documents like the death certificate, claim form, and policy document can expedite the process. The insurer will review and verify these documents.
  • State Regulations: Some regions have specific regulations about how quickly insurance companies must process claims. It's advisable to check local laws for guidance.
  • Complex Cases: In cases where the claim is complex or if there's an investigation (e.g., in the event of suspicious circumstances surrounding the death), the process can take longer.
Once all of these documents are filed, the insurer will process the claim, and if found to be sufficient and proper, they will disburse the death benefit. Determining the right amount of life insurance involves several factors:
  • Financial Obligations: Consider your debts, like mortgages or loans, and ongoing financial responsibilities.
  • Income Replacement: Calculate how much income your family would need to maintain their lifestyle in your absence. A common approach is to choose a cover 10-15 times your annual income.
  • Future Goals: Factor in future expenses like children’s education or retirement planning for your spouse.
  • Inflation: Account for inflation and how it might affect future financial needs.
  • Existing Savings and Assets: Deduct your current savings and investments from the total required sum to avoid over-insuring.
  • Financial Adviser: Consulting a financial adviser can provide personalized advice based on your specific circumstances.
The cost of life insurance varies based on:
  • Type of Policy: Term insurance is generally more affordable than whole life or investment-linked policies.
  • Age and Health: Younger, healthier individuals typically pay lower premiums.
  • Lifestyle Factors: Smoking or high-risk hobbies can increase premiums.
  • Coverage Amount: Higher sums assured lead to higher premiums.
  • Term Length: Longer policy terms can increase the cost.
  • Riders/Add-ons: Additional coverage options will increase the premium.
  • Gender and Occupation: These can also influence the cost.
Yes, we offer multiple premium payment options:
  • Frequency: Options often include monthly, quarterly, semi-annual, or annual payments or lumpsum one-time payment.
  • Methods: Payments can be made via direct debit, credit card, online transfers, checks, or even cash at the insurer’s office.
  • Automatic Payments: Setting up autopay can ensure premiums are paid on time and prevent policy lapse.
Upon maturity of a life insurance policy:
  • Term Insurance: These policies typically do not have a maturity benefit.
  • Endowment and Whole Life Policies: You will receive the sum assured along with any bonuses or dividends accrued, if applicable.
  • ULIPs: The maturity benefit will include the sum assured and the value of the investment component.
  • Payout: The maturity amount is usually paid out as a lump sum, but some policies offer structured settlement options.
  • Tax Implications: Be aware of any tax implications on the maturity proceeds, as per recent Tax laws.
The Aditya Birla Group, of which Aditya Birla Sun Life Insurance is a subsidiary, is a significant and respected conglomerate with a wide range of businesses. The organisation has a proven track record of satisfying consumers with high-quality insurance policies and services throughout the course of its many years in business. Here some of the top things to note about the company:
● 98.12%^ Claim Settlement Ratio
● 56,104 Life Insurance Advisors$
● ₹50,688 Crores Assets Under Management^
● 165+ Years of Excellence
The Insurance Regulatory and Development Authority of India (IRDAI) is the government agency responsible for policing the Indian insurance sector, including Aditya Birla Sun Life Insurance. As a result, policyholders have some assurance that the firm is operating in accordance with IRDAI norms and regulations.
Keep in mind, however, that investing in life insurance carries with it certain inherent dangers, and that you can never be sure that you will get the profits you anticipate. Before investing in a life insurance policy, it's vital that you read the policy's terms and conditions thoroughly and consult a financial counsellor if you have any doubts or queries.
It's crucial to perform one's own research and due diligence before making any investment selections, but Aditya Birla Sun Life Insurance looks to be a safe alternative for investing in India.
No, in India, the proceeds from a life insurance policy are generally tax-free under Section 10(10D)** of the Income Tax Act, 1961.However proceeds from life insurance policy issued on or aſter 1st April 2023 shall be taxable as income from other sources if the cumulative annual premium payable by taxpayer for life insurance policies exceeds ₹ 5 lakhs. This means that if you or your nominee receive a payout from a life insurance policy, the amount received will be subject to income tax, only if the anuual premium amount exceeds ₹ 5 Lakhs. Additionally, the premium paid towards the online life insurance policy may be eligible for tax deduction under Section 80C of the Income Tax Act, subject to a maximum limit of Rs. 1.5 lakh per year.
However, there are certain exceptions to this rule. If the premium paid on the policy is more than 10% of the sum assured for policies issued after April 1, 2012, then the amount received upon maturity or surrender will be taxable. Additionally, if the policy is transferred to another person for consideration, the proceeds may also be taxable.
It's important to note that the tax laws in India are subject to change, so it's always a good idea to consult a tax professional for the most up-to-date information.
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  • Disclaimer

    *Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
    **Sec 10(10D) benefit is available subject to fulfilment of conditions specified therein
    #Provided all due premiums are paid
    ^ As per annual audited figures submitted to IRDAI for the period FY 22 – 23 for individual death claims paid.
    $ As on 30`th November 2023
    ¹LI Age 21, Male, Non Smoker, Option 1: Life Cover, PPT: Regular Pay, SA: ₹ 1 Cr., PT: 10 years, Premium paying term: 10 years, Annual Premium: ₹ 5900/- ( which is ₹ 491.66/month) Premium exclusive of GST. On death, 1 Cr SA is paid and the policy terminates.
    ² Provided 0 year deferment & monthly income frequency is chosen at the time of inception of the policy.
    ³ABSLI Empower Pension Plan, age 40 year healthy male, Policy term is 10 years, Accumulation period is 10 years, basic premium is Rs.100000/-, Plan Option: Assured, Payment frequency: Annual, Return@8% fund value is Rs.13.57 lakhs and @4% is Rs.10,84,803/-
    ⁴ABSLI Child’s Future Assured Plan. Plan option: Education & Marriage Milestone. Male | Age: 35 years | Policy term: 25 years | Premium paying term: 10 years | Education milestone benefit period: 3 yrs & Education assured benefit start term: 15 yrs | Marriage assured benefit start term: 25 years | Annualized premium: ₹1,00,000 (excluding tax) | Total Benefits Payout: Rs 21,58,664 [Education Milestone Payout: Rs 10,79,332 (policy year 15,16,17) and Marriage Milestone Payout: Rs 10,79,332 (policy year 25)] | Age of Child: 0 years, Child as a nominee | Sum assured multiple for marriage: 100%
    ⁵ABSLI Wealth Assure Plus plan for 30 years of a healthy male. Plan type: Classic. Investment option: Smart option. Risk Profile: Moderate. Payment frequency: Yearly. Basic annual premium: ₹24,000. Policy Term: 15 years. Premium paying term: 10 years
    ⁶Scenario: Healthy male age 25 years, premium paying term 10 years, policy term 20 years, payment frequency monthly, Sum Assured Rs. 16.2 lakhs, Premium Rs.10000/month excluding GST), you get Rs. 30.48 lakhs by age 45
    ABSLI Accidental Death And Disability Rider - This rider is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). UIN: 109B018V03
    ABSLI Critical Illness rider. This rider is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). UIN: 109B019V03
    ABSLI Surgical Care Rider. This rider is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). UIN: 109B015V03
    ABSLI Hospital Care Rider. This rider is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). UIN: 109B016V03
    ABSLI Waiver Of Premium Rider. This rider is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI).UIN: 109A039V01
    ABSLI Nishchit Aayush Plan. This is a non-linked non-participating individual savings life insurance plan. UIN No 109N137V06
    ABSLI Assured Savings Plan. his is a Non-Linked Non-Participating Individual Savings Life Insurance Plan.UIN: 109N134V08
    ABSLI DigiShield Plan. This is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 9 (Level Cover with Survival Benefit) and Plan Option 10 (Return of Premium [ROP]) this product shall be a non-linked non-participating individual life savings insurance plan. UIN: 109N108V11
    ABSLI Salaried Term Plan. This is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 2 (Life Cover with ROP) this product shall be a non-linked non-participating individual savings life insurance plan.UIN:109N141V01
    ABSLI Assured Income Plus. This is a Non-Linked Non-Participating Individual Savings Life Insurance Plan. UIN: 109N127V13
    ABSLI Wealth Aspire Plan. This is a non-participating unit linked life insurance plan. UIN:109L100V05
    ABSLI Guaranteed Annuity Plus. This is a Non-Linked, Non-Participating, General Annuity Plan All terms & conditions are guaranteed throughout the Policy Term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. UIN: 109N132V09
    In the Unit Linked Policy, the investment risk in the investment portfolio is borne by the Policyholder.
    Linked Life insurance products are different from the traditional life insurance products and are subject to the risk factors.
    Linked Insurance Products do not offer any liquidity during the first five years of the contract.
    The policyholder will not be able to withdraw/surrender the monies invested in Linked Insurance Products completely or partially till the end of the fifth year from inception. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document. The premium paid in unit linked life insurance policies are subject to investment risk associated with equity markets and the unit price of the units may go up or down based on the performance of fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. Tax benefits may be available as per prevailing tax laws. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding the sale.
    For further details regarding the above-mentioned rider, please refer to the respective rider brochure(s) available on our website.
    Honesty is the best policy
    Applicants should ensure that insurance details in the application form is filled by oneself with “ Utmost good faith”.
    Be honest & truthful about your medical history, health conditions, or any other complications.
    Also, let the insurer know about any habits like use of alcohol, tobacco or any narcotics/ psychotropic substances in the present or past, to ease the process of Policy issuance and claim assessment process.
    ADV/2/23-24/3667