Aditya Birla Sun Life Insurance Company Limited

Insurance Policy Document

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Definition:

Insurance policy document is proof of insurance. It is a formal legal document that is used as a legal binding for the insurance contract. The policy document is the evidence of the insurance contract and contains all the terms and conditions.

Description:

Insurance policy document is a reference document that contains all information regarding cover, insured, insurance company, premium paid, risk covered, and sum assured. The document is issued by the insurance company to outline their terms on which the document is issued. Apart from the conditions, a policy also confirms the receipt of the premium payment.

The policy document will include a proposal form submitted by the insured, first premium receipt, any endorsements, and the policy schedule. Policyholders can refer to all of these in case they are planning to file for a claim.

If the insured loses the original policy document, a written request

Example:

Aisha received her policy document from the XYZ Insurance Company Ltd. The policy document contained information of the policy term, policy sum assured, insured, premium paid, etc.

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ABSLI Salaried Term Plan

Exclusively For Salaried Individuals

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4 Plan Options

Icon-Whole life cover

Life Cover upto 70 years

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Optional Accelerated Critical Illness benefit

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Inbuilt Terminal Illness Benefit

Life Cover
₹1 crore

Premium:
₹508/month*

Recently Added Article

ABSLI Salaried Term Plan (UIN:109N141V02) 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.
*LI Age 21, Male, Non Smoker, Option 1: Life Cover, PPT: Regular Pay, SA: ₹ 1 Cr., PT: 10 years, Annual Premium: ₹ 6100/- ( which is ₹ 508.33/month) Premium exclusive of GST. On death, 1 Cr SA is paid and the policy terminates.
ADV/5/22-23/291