Aditya Birla Sun Life Term Insurance Benefits

Term Plans offered by Aditya Birla Sun Life Insurance Company Limited are amongst some of the highly recommended insurance plans that safeguard the future of your family financially at an affordable cost. With term plans, you can support your family members financially even in your absence i.e. if any unfortunate thing happens with you during the policy duration, then your nominee is entitled to receive the complete sum assured from the insurance company. Moreover, these plans offer various coverage benefits alongside tax benefits. Aditya Birla Term Plans provide coverage at an affordable premium and multiple riders to choose from in case you wish to enhance the existing coverage.

Why To Buy Aditya Birla Sun Life Term Insurance?

There are multiple reasons to buy Aditya Birla Sun Life Term Insurance. Some of them are explained below: :

• Financial Safety: The family members of the policyholder receive financial protection in the event of his/her unfortunate demise, who may be the sole bread earner of the family. The nominee would receive the sum assured after the demise of the insured in order to meet the household expenses of the family, loan liabilities and to protect other future goals of the family members financially.
• The flexibility of Choosing Pay-Out Options: Aditya Birla Sun Life Term Insurance Plans offers the policyholder the flexibility of choosing the payout options. On the death of the policyholder during the policy duration, the payout of the sum assured can be done in a lump sum or in the form of income (monthly or annually). This assists the family members in meeting their regular expenses and various other financial needs in your absence.
• High Coverage at Low Cost: A policyholder is offered a high life cover at a low premium cost. You should consider buying the term plan early as the premiums paid against the terms' plans depend upon your age i.e. if the age is lower and the term of the policy is high, then the premium would be the lowest.
• Multiple Riders: Aditya Birla Sun Life Term Insurance Plans can be purchased together with multiple riders or add-on covers in order to enhance the existing coverage of the plan and to get various other additional benefits. Various riders offered by the insurance company include accidental death and disability rider, waiver of premium rider, hospital care rider, surgical care rider, amongst others.
• Tax Benefits: Premiums paid against Aditya Birla Sun Life Term Insurance Plans is eligible for a tax deduction as per section 80C of the Income Tax Act, 1961 up to Rs 1.5 Lakh maximum. Moreover, the claim amount received by the nominee from the term plan (on the death of policyholder) is eligible for tax exemption as per section 10(10 D) of the Income Tax Act, 1961.