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Aditya Birla Sun Life Insurance Company Limited
Aditya Birla Sun Life Insurance Company Limited
ABSLI Saral Jeevan Bima
Pocket-Friendly Term Insurance for everyone
Flexible premium payment options
Rider option to enhance coverage
Get ₹25 lakh life cover
@ just ₹2,490/month3
What is ABSLI Saral Jeevan Bima?
Simple and affordable plan to meet your financial security goals
Flexibility to choose the policy term from 5-40 years
Flexible premium payment: one time, for a limited period, or throughout the policy term, you can choose how you want to pay the premium as per your convenience.
Flexibility to choose sum assured as per your protection needs.
Customizable benefit with ABSLI Accidental Death Benefit Rider Plus at a nominal extra cost.
This policy has a short waiting period of just 45 days from inception.
Benefits of ABSLI Saral Jeevan Bima
ABSLI Saral Jeevan Bima is a plan that assures the financial security of the family in absence of the life insured. It helps the family to maintain the lifestyle in case of your absence.
Death Benefit
In case of unfortunate death of the Life Insured during the Waiting Period under an Inforce Policy, We will pay the Death Benefit to the nominee(s)/legal heir(s)/assignee as below
Revival of Policy
You can revive Your Policy within a revival period of five years from the due date of first unpaid premium, subject to following conditions
Riders
Riders offer additional benefits that are not included in the base policy at a nominal additional premium. There are exclusions attached to the rider. Please refer prospectus for more details
ABSLI Accidental Death Benefit Rider Plus
UIN: 109B023V02
provides 100% of Rider Sum Assured as an additional lump sum amount in case of death due to accident of Life Insured. Additionally, the rider premiums collected aſter the date of Accident till date of death, shall be refunded with interest, along with death benefit payable.
Please refer to detailed prospectus on rider, consult Your financial advisor or visit Our website for further details.
How does ABSLI Saral Jeevan Bima work?
Use Case 1
Use Case 2
Use Case 3
Mr.Raman, aged 45 years, non-smoker, bought the ABSLI Saral Jeevan Bima for the financial safety of the family. The policy sum assured was Rs.5,00,000 and the premium payment was for regular pay.
The annual premium to be paid under the regular pay was Rs.15,270 exclusive of tax.
After paying the premium for 2 years, Raman could not continue to pay the premium due to a financial crisis.
As soon as he recovered financially within 3 years. Raman decided to continue the policy 3 years after the first unpaid premium. He paid all the outstanding premiums and late fees as declared by ABSLI.
As per the policy guidelines for Revival of Policy, Raman’s life insurance policy will revive only if the board approves of it. Considering the evidence that Raman submitted in favor of the failure of non-payment, the board approved to accept the policy in continuance.
Want to build financial security for your family?
Buy ABSLI Saral Jeevan Bima Now.
PLAN AT A GLANCE | ||||
| Entry Age | 18 to 65 years of age(2) | |||
| Maximum Maturity Age | 70 years | |||
| Minimum Premium | Annual: Rs. 5,895 Semi-Annual: Rs. 2977 Monthly: Rs. 508 | |||
| Maximum Premium | No Limit, subject to board approved underwriting policy | |||
| Premium Payment Term (PPT) | Single Pay; Limited Pay – 5 and 10 years; Regular Pay | |||
| Policy Term | Premium Payment Term | Minimum | Maximum | |
| Single Pay | 5 years | 40 years | ||
| Limited Pay | PPT + 1 | |||
| Regular Pay | 5 years | |||
| Premium Mode | Annual | Semi-annual | Monthly | |||
| Sum Assured | Minimum | Maximum | ||
| Rs. 5,00,000 | Rs. 25,00,000 (subject to Board Approved Underwriting Policy) | |||
| (Sum Assured allowed in multiple of Rs. 50,000 only) | ||||
| Grace Period | Grace Period refers to the time granted by Us from the due date for the payment of premium, without any penalty or late fee, during which time Your Policy is considered to be in-force with the risk cover without any interruption, as per the terms and conditions of Your Policy. A period of 15 (Fifteen) days from the due date of the first unpaid Premium for monthly Premium payment mode and 30 (Thirty) days from the due date of the first unpaid Premium for annually or semi-annually premium payment modes will be allowed The insurance coverage continues during the grace period, however, if the Life Insured dies during the grace period, the Company shall be entitled to deduct the unpaid Premium from the Benefits payable under the Policy. Grace period will also apply to Rider Premiums payable along with the Base Policy premium. | |||
| Waiting Period | A waiting period of 45 days is applicable from the date of commencement of risk for Death Benefit payable under this Plan. In case of Revival of Policy, Waiting Period is not applicable. | |||
How to initiate Claim?
3 quick steps, everything online.
FAQ’s
We are constantly trying to simplify ABSLI Saral Jeevan Bima!
ABSLI Saral Jeevan Bima is a Term Insurance Plan. It is an affordable plan to ensure that the policyholder’s family do not fall short of money in case of the untimely demise of the life insured.
The minimum entry age to buy a term plan is 18 years and the maximum entry age is 65 years. {The best age to buy a term plan}(https://lifeinsurance.adityabirlacapital.com/articles/term-insurance/best-age-to-buy-term-plan/) is as early as possible. Because it saves you a lot of premium money. Also, when you are young you are less prone to diseases which again supports buying a policy.
These are the significant features of ABSLI Saral Jeevan Bima:
- Simple & affordable plan to meet Your financial security goals.
- Flexibility to pay premium just once or for a limited period or throughout the Policy Term.
- Enhance Your insurance coverage with Accidental Death Benefit Rider, on payment of additional premium
There is no maturity benefit under this plan.
There is no Survival Benefit payable under this plan. Term plan does not provide any survival benefit under the ABSLI Saral Jeevan Bima Plan.
Other Insurance Plans
ABSLI DigiShield Plan
ABSLI DigiShield Plan term insurance provides financial security to your loved ones from uncertainties of life with its 10 plan options.
ABSLI Life Shield Plan
Aditya Birla Sun Life Insurance Life Shield Plan offers you the flexibility to make a choice from amongst 8 different plan options as per your family's needs so they need not compromise on their lifestyle, even in your absence.
1 ABSLI Saral Jeevan Bima scenario: Male, Entry age: 30. Policy term: 40 years. sum assured: ₹25,00,000. Regular premium payment, Premium: ₹2490.47/month (excluding GST)
2Tax benefits are subject to changes in tax laws. Kindly consult your financial advisor for more details.
3Age as on last birthday
ABSLI Saral Jeevan Bima is a Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc. For policies issued on minor life, the date of commencement of risk shall be the date of commencement of the policy. Where a policy is issued on a minor life, the policy will vest after attainment of majority of the Life Insured. Where the Life Insured (whether major or minor) and Proposer/Policyholder is different, on the death of the Proposer/Policyholder, his legal heirs, in accordance with the existing succession laws, will be considered as new Proposer/Policyholder. As there is no death benefit payable on the death of the Proposer/Policyholder, the policy status does not change, and the policy continues. This product shall also be available for sales through online channel. Tax benefits are subject to changes in tax laws. UIN: 109N128V01
ADV/1/24-25/2660
