1. How to pay premium? What are the modes of payment available? You can pay your Birla Sun Life Insurance premium through ANY these following methods: No Cash Payment is Accepted Online Payment- Debit/credit or NEFT Cheque Payment ECS SYSTEM Step 1: Enter your policy details – policy number and policyholders date of birth Step 2: Select your payment method- debit/ credit card or NEFT to pay the premium Step 3: Authenticate and confirm your payment details and print online payment receipt 2. How can I check policy status for Birla Sun Life ULIP plans? For all Birla Sun Life Insurance policyholders, online checking of policy status is available. To check the policy status online, log into the e-portal with your Client ID and password. 3. What is the policy renewal process for Birla Sun Life ULIP plans? The process of Online Policy Renewal facility is as follows; Step 1: Log into the e-Portal with your valid credentials Step 2: Use the mode of payment to renew your policy Step 3: Print the payment receipt 4. What is the companys process to settle claim for Birla Sun Life ULIP plans? The claims must be lodged after 30 days of the expiry of a medical diagnosis or treatment. This process involves a written intimation by the beneficiaries to the claims department, duly signed by the Municipal Authority/Magistrate. Upon receiving the application, Claims Department sends the claimant a required set of documents including claim forms to be duly filled and sent back for processing the same. 5. What is the policy cancellation process for Birla Sun Life ULIP plans? The Birala Sun Life Insurance policyholders must attach all the relevant policy documents along with a duly filled surrender form at any of the branch locations in their city. The surrender value will be calculated as per the prevailing market rates if the form is submitted before 3:00 PM, else the next days value is applicable. Some of the Best Birla Sun Life Insurance Plans of 2015 Birla Sun Life Launches MySolutions Customized Insurance Plans
Unit Linked Insurance Plans (ULIPs) are insurance plans combined with the features of a mutual fund. The premiums paid by the policyholder are held in a corpus which is then invested in stocks and shares of different companies operating in the capital market. The total market value of the corpus invested divided by the number of securities purchased give the Net Asset Value (NAV) which is the price of one unit of the fund. The premium paid is invested at the prevailing NAV which changes every moment with the market trend. ULIPs promise good returns linked to the market and also insurance coverage. The basic features of ULIPs are as follows: The premium paid is invested in a choice of funds offered by the company. Each fund represents different risk criteria. The basic funds offered are Equity Fund which has a high risk, Debt Fund which has low risk and Balanced Fund a mix of Equity and Debt Fund with a moderate risk. The returns are directly related to the risk profile of the fund. Applicable charges are deducted from the premium paid for insurance coverage, administration charge, fund management charge, etc. Insurance coverage depends on the amount of premium paid The premiums are to be locked-in for 5 years after which partial withdrawals are allowed from the fund value Switching option is available which enables the policyholder to switch his investment between funds.
Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group and Sun Life Financial Inc., one of the leading international financial services company from Canada. Birla Sun Life Insurance has contributed to the growth and development of the life insurance industry and is currently one of the leadinglife insurancecompanies in the country. Their customer base comprises of over two million policy holders. The Company offers a complete range of plans comprising protection solutions, children’s future solutions, wealth with protection solutions, health and wellness solutions, retirement solutions and savings with protection solutions. Its distribution network is in over 500 cities, 560 branches, around 85,000 empaneled advisors and over 140 partnerships with corporate agents, brokers and banks.Its been a decade that the company has contributed significantly to the growth and development of the life insurance industry of our country. They have also pioneered in the launch of Unit Linked Life Insurance plans. Their vision is to be a leader and role model in integrated financial services. They value Integrity, commitment, Passion, Seamlessness and Speed.
