Some of our branches are now open. You may view the list of open branches here. For any query and Self-service related needs you can instantly send your request by accessing our digital channels. Use Chatbot - ABC Assist or Whatsapp (send "HI" to 88288 00040). Avail our online services. Write to Stay Home. Stay Safe.| Get an additional one month grace period on policy premium due in the month of March & April, 2020 |

Aditya Birla Sun Life Insurance Company Limited

What is Term Insurance Plan?

A Term Insurance Plan or Term Life Insurance is a financial coverage provided to the term policy holder for a specific time period. It is a financial backup provided to the policy holder's family in case of the insured person's untimely demise.

Term Insurance plans are one of the best ways to secure one's life and provide a financial independence to the loved ones of the insured individual. This policy is a need of the hour and can be easily purchased at lower premiums too. The premiums can be paid monthly, quarterly, semi-annually or annually as per the policy holder's convenience.

How can Term Insurance Plan Help?

Term insurance is one of the best ways to ensure financial stability for your loved ones in your presence or absence. It is a form of protection that everyone should have in this world of uncertainty.

  • The base plan is applicable for riders in case of critical illness or disability.

  • A lump sum amount is credited to the family of the term policy holder in case of mishap.

  • One can receive the benefits in the form of monthly income along with the lump sum amount.

Term Insurance Plans By ABSLI

ABSLI Life Shield Plan

Every family is different and so are their protection needs. One policy may not match all of them. Be it Joint life protection with your spouse, increasing or decreasing term assurance option, waiver of premium benefit in case of disability or disease or return of premium... KNOW MORE

  • Tax benefit:

    Tax benefit might not be on your mind while insuring life but it is certainly an added bonus. The premiums and the payouts both offer tax benefits and exemptions as per the existing tax laws of section 80C and section 10(10D).

  • Affordability:

    One can choose the desired life cover as per their needs. The premiums can be paid as per the term policy holder's ease. It can be paid monthly, quarterly or yearly.

  • Financial liability:

    In case of the policy holder's death, the lump sum amount received by the family can be used to clear out the existing debts or loans.

  • Death benefit:

    In case of the policy holder's death, the lump sum amount received by the family can be used to clear out the existing debts or loans.

  • Critical illness:

    In case the policy holder is diagnosed with some critical illness he/ she can receive a lumpsum amount or receive a supplementary monthly income.

How Term Insurance Plan works?

Term plan in lucid language means securing/ protecting one's life by paying a fixed premium at a fixed frequency (annually, semi-annually, quarterly or monthly). Term insurance is the simplest form of life insurance product. It offers a big amount of cover at a minimum premium amount.

In case of a sudden natural or accidental death of the policy holder the cover is given to the nominee mentioned in the policy. It can either be given as a lump sum amount, monthly income amount or the two combined together as chosen by the insurer at the time of purchase.

The core purpose of opting for a term insurance is to provide financial independence to your family, be it in your presence or absence. Here are some important key factors that one needs to consider before finalizing on a term policy:

  • Policy Tenure:

    One can choose the number of years he/she wants their life to be covered under the tenure. While choosing a term it is better to choose the one that would cover your retirement as it would provide additional benefits.

  • Claim settlement ratio:

    The proportion explains the number of settlements that have been done per 100 claims. The higher the ratio better it is. ABSLI has a 97.54% claim settlement ratio.

  • Cover amount:

    Generally the cover amount is decided as per the individual’s income and his/her existing debts/outstanding loans.

  • Term insurance premium:

    Based on an individual’s age and lifestyle, one needs to pay a small premium amount to build the life cover. Hence, the premium amount differs from one policy holder to the other.

  • Inflation factor:

    The rising price is one of the direct effects of inflation. In order to maintain your standard of living, it is wise to get a term insurance plan to secure your tomorrow.

A Term Insurance Plan covers all the needs that one might have at key milestones of their life. It is always best to be well aware about the features of your Term Insurance as it helps you to keep a close eye on every minute detail.

  • Policy Term:

    The minimum eligibility age is 18 and maximum limit is 65 with additional benefits. As ones age increases the premium for the policy increases too. Hence, it is better to start early.

  • Age of entry:

    The minimum policy term is 5 years and can vary from 10,15,20,25 years. It is always wise to opt for longer terms as it covers all the milestones and provides a financial aid in an hour of crisis.

  • Additional rider benefits:

    Additional benefits such as critical illness or permanent disability are also available. These benefits can be added and the term plan can be customized by paying an additional premium amount. ABSLI offers:

    • ABSLI Accidental Death Benefit Rider Plus

    • ABSLI Accidental Death and Disability Rider

    • ABSLI Critical Illness Rider

    • ABSLI Surgical Care Rider

    • ABSLI Hospital Care Rider

  • Premium payment term:

    As per the policy holder’s convenience, he/she can choose the premium paying term. The term can be either single pay, limited pay or regular pay.

Toll free (Within India):

1800 270 7000

Outside India: :

+91 22 66917777

(Call charges apply)

Between 9 am to 9 pm, All 7 Days

Get an Advisor

Mail on:

Get to a branch closest to you

Connect with us on Whatsapp:

Step 1. Register

Register by giving a missed call on 7676690033 or SMS OPTIN on 567679 from your registered mobile number

Step 2. Begin Chatting

Save the number 8828800040 as ABSLI contact and say 'Hi' to us on WhatsApp

Types of Life Insurance Plans


Health Plans


Saving with Protection

Why choose ABSLI?

Claim Settlement Ratio

It is often said that higher the claim settlement ratio, better it is. ABSLI has an astounding claim settlement ratio of 97.54%.

Strong legacy

Aditya Birla Capital is one of the most trusted brands & its joint venture with Sun Life Insurance has gained accolades in the industry with the name Aditya Birla Sun Life Insurance.

Simple & need based products

ABSLI aims to make savings and living easier for each individual. So, each product has been made in accordance with the basic and simple needs of every customer.

Articles Related to Term Protection

Choosing term insurance the right way

It's true what they say about life changing in a second, where one is happy and settled one... Read more

How do term insurance plans help my family?

Money is important to us at every stage of life. It is idyllic to say 'Money cannot buy happiness'... Read more

The most important article that a 25-year-old must read

People in their 20s have the best time of their lives. They are young, healthy, have a good income and relatively few responsibilities...Read more

How is term insurance different from life insurance?

In today's world, almost every responsible family-oriented person wishes to protect his family from the vagaries of fate...Read more

How much should be the adequate budget to be allotted for term insurance?

There is no arguing with the fact that life insurance is the backbone during uncertain times...Read more

What are the key things to look for in a term life insurance policy?

If you are new to the world of life insurance, and are looking for a policy that covers you for...Read more

Benefits of a Term Plan @ Aditya Birla Sun Life Insurance Articles

Term plan is the most recommended pure protection insurance plan which secures the financial future of your family at a low cost... Read more

Insurance is a Pure Must Have Plan for Parents @ Aditya Birla Capital

If your children and others are financially dependent upon you, there really is no alternative to buying a tern insurance plan... Read more

Reasons to Buy Term Plan@ Aditya Birla Sun Life Insurance

Term plan is the most recommended Life Insurance Plan for an individual. Term Plans are the most basic form of life insurance plans...Read more

Is term insurance an investment or expense?

Term life insurance , by definition, offers coverage for a fixed term, and charges a small amount as premium...Read more

Term Insurance and the Common Facts One Should Know @ Aditya Birla Sun Life Insurance

Term Insurance plans are pure protection plans designed to protect your family's financial future arising out of an unforeseen...Read more

What is term insurance?

Term insurance, or temporary insurance as it is also known, provides coverage for a specific term. In case of any...Read more

When Is the Best Age to Buy a Term Insurance Plan?

A term plan is indeed one of the most useful forms of life insurance. It is inexpensive...Read more

Why Term Plan is Must besides Having Healthy Portfolio @ Aditya Birla Capital

We often get involved in building an investment portfolio for a variety of reasons...Read more

Frequently Asked Questions


Yes, the term insurance plan expires after the policy term gets over.


Yes, natural and accidental deaths are covered under term plan.


When the policy matures and if the policy holder is still alive, no amount is paid but if he/she dies then the cover is paid to the nominee.