
Aditya Birla Salaried Term Plan
Aditya Birla SunLife Insurance
Our Verdict
ABSLI Salaried Term Plan suits salaried individuals seeking flexible life cover with income options. It offers critical illness benefits and ROP but has a coverage limit of 70 years, restricting lifelong protection.
About the Plan
ABSLI Salaried Term Plan is a comprehensive term insurance solution tailored for salaried individuals, offering four distinct plan options: Life Cover, Life Cover with Return of Premium (ROP), Fixed Income Cover, and Increasing Income Cover. It provides life insurance coverage up to age 70, ensuring long-term financial security. Policyholders can choose between lump-sum or monthly income death benefit payouts, with the flexibility to select fixed or increasing income options. The plan includes an inbuilt Terminal Illness Benefit and offers the option to add coverage for 42 critical illnesses through the Accelerated Critical Illness Benefit.
About the Plan
Eligibility
• Entry Age :
Minimum 21 years; Maximum 55 years.
• Maturity Age :
Maximum 70 years.
• Sum Assured :
Minimum: ₹25,00,000.
Maximum: No limit (subject to underwriting).
• Premium Payment Term (PPT) :
Options of 5, 7, 10, 12, 15, or 20 years.
• Policy Term (PT) :
For Limited Pay, PT = PPT + 5 years; for Regular Pay, minimum PT is 10 years, maximum PT is 49 years.
Eligibility
Features of the Product
Terminal Illness
The plan includes an inbuilt Terminal Illness Benefit, providing an accelerated payout if the life insured is diagnosed with a terminal illness.
Zero Cost Option
The provided sources do not mention a Zero Cost Option within the ABSLI Salaried Term Plan.
Inflation Protection Coverage
One of the plan options, Increasing Income Cover, offers a monthly income benefit that escalates annually by a chosen rate (5% or 10% simple interest) to counteract inflation.
Premium Payment Customizations
The plan offers multiple premium payment terms, including Single Pay (one-time payment), Limited Pay (5, 7, 10, 12, 15, or 20 years), and Regular Pay (throughout the policy term).
Exclusions
If the life insured dies due to suicide within 12 months from the policy commencement or revival date, the nominee will receive the higher of 80% of total premiums paid or the surrender value (if applicable), and the policy will terminate.
The Terminal Illness Benefit will not be payable if the condition is caused by intentional self-inflicted injury or suicide attempt, whether medically sane or insane.
Claims arising from self-inflicted injuries or attempted suicide are not covered under accidental death and disability or critical illness riders.
Participation in hazardous activities such as racing, mountaineering, or bungee jumping is excluded from coverage.
Drug abuse, alcohol intoxication, or consumption of narcotics leading to an incident is not covered.
Claims related to criminal acts, unlawful activities, or intentional harm are excluded.
Death or disability caused by war, terrorism, riots, or civil unrest is not covered.
Injuries or death resulting from participation in aviation activities (except as a passenger on a commercial flight) are excluded.
Pre-existing diseases are not covered under the critical illness benefit unless disclosed and accepted by the insurer.
Exclusions
Accidental Death - Rider Option: Policyholders can opt for the ABSLI Accidental Death Benefit Rider Plus, which provides a lump-sum payout in case of accidental death, with a maximum sum assured of ₹1 crore.
Critical Illness - The plan offers an optional Accelerated Critical Illness Benefit, covering 42 specified critical illnesses. Upon diagnosis, a portion of the sum assured is paid out, providing financial support during challenging times.
Add-ons

If you are a woman
Female policyholders are eligible for an additional 9% discount on premiums, making the plan more cost-effective for women.

If you smoke
Smoking habits influence premium rates. Smokers may be subject to higher premiums due to increased health risks.
Note :
Suicide Clause : If the life insured dies due to suicide within 12 months from the policy commencement date or the date of policy revival, the nominee or beneficiary will receive the higher of:
Total premiums paid till the date of death, or
The surrender value as available on the date of death.
Upon this payment, the policy will terminate, and no further benefits will be payable.
Free look up period: Policyholders have a free look period to review the policy terms:
Duration: 15 days from the date of receipt of the policy document.
Distance Marketing: 30 days (if the policy is purchased through distance marketing channels).
If the policyholder disagrees with any terms and conditions, they can return the policy within this period. The insurer will refund the premium paid after deducting:
Proportionate risk premium for the period of cover.
Expenses incurred on medical examination (if any).
Stamp duty charges.
Grace Period: A grace period is provided to pay overdue premiums without losing policy benefits:
Monthly Premium Payment Mode: 15 days.
Other Premium Payment Modes (Annual, Semi-Annual, Quarterly): 30 days.
If a premium is not paid within the grace period, the policy may lapse, and coverage will cease.
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About the Company
ABSLI is a joint venture between Aditya Birla Capital and Canada based ‘Sun life financial Inc.’. Aditya Birla is the holding company of Aditya Birla group's financial services businesses, through its subsidiaries ABCL provides a comprehensive layout of financial solutions including loans, insurance, payments to cater the customers throughout their lifecycle.
Sun Life Financial Inc., commonly known as Sun Life, is a leading international financial services organization headquartered in Toronto, Canada. Established in 1865, the company offers a diverse range of products and services, including life insurance, health insurance, investment management, and retirement planning.
Aditya Birla Sun Life Insurance (ABSLI) offers a wide range of insurance plans designed to meet diverse financial goals, including protection, savings, wealth creation, retirement planning, and child education.