Aditya Birla Sun Life Insurance Company Limited (ABSLI) has launched a new term insurance plan called the ABSLI Super Term Plan. This comprehensive plan offers an all-in-one solution that combines life protection with built-in health management services, providing policyholders with enhanced flexibility and financial security. The plan offers three coverage options: Level Cover, Increasing Cover, and Level Cover with Return of Premium. These options allow policyholders to choose from a fixed sum assured, increasing protection by 5% annually, or returning 100% of premiums if they survive to maturity.
The plan also provides flexibility in benefit disbursement, allowing policyholders to receive benefits as a lump sum, monthly income, or a combination of both. Additionally, the plan includes health management services that are accessible throughout the policy term, as well as an Enhanced Life Stage Protection option that allows policyholders to increase their sum assured for major life events such as marriage, childbirth, or home loans.
The ABSLI Super Term Plan also features an Instant Payment facility, which provides specified amounts within one working day of claim registration. Other options include Staggered Death Benefit, which allows for five-year monthly instalments, and Commutation of Income Benefit, which allows policyholders to convert monthly payments to a lump sum.
According to Kamlesh Rao, MD & CEO of ABSLI, the plan is designed to offer comprehensive financial security through flexible coverage, in-built health management services, and protection against life’s uncertainties. ABSLI, a joint venture between Aditya Birla Group and Sun Life Financial, manages assets worth ₹99,496 crore and recorded gross premium income of ₹20,639 crore as of March 2025. The launch of the ABSLI Super Term Plan is a significant development in the insurance industry, providing policyholders with a comprehensive and flexible insurance solution that meets their evolving needs. With its innovative features and benefits, the plan is expected to appeal to a wide range of customers seeking reliable and comprehensive financial protection.