ICICI Prudential Term Insurance vs Aditya Birla Sun Life Term Insurance

There are numerous advantages of purchasing a term insurance plan. The essential benefit is its cost and high life cover. However, choosing the right term plan with the desired coverage becomes quite tricky due to the presence of multiple-term plans in the market. To know more about the term plans, you need to compare them on various parameters. Here are the details of the term insurance plans by ICICI Prudential Life Insurance and Aditya Birla Sun Life Insurance which you can go through and make the right buying decision.

ICICI Pru Term Insurance Plans vs Aditya Birla Sun Life Term Insurance Overview

Term Insurance policies – ICICI Prudential vs Aditya Birla Sun Life Insurance

ICICI Prudential Life Insurance is a joint venture between ICICI Bank and Prudential Corporation Holdings Limited and commenced its operation in 2001. It is one of the top insurance providers in the country, offering various insurance products, including term insurance plans catering to different requirements of its customers. 

Aditya Birla Sun Life Insurance (ABSLI) Company is a leading life insurance company in the Indian private insurance sector. A subsidiary of Aditya Birla Capital Ltd and promoted by Aditya Birla Group of India and Sun Life Financial Inc. of Canada, Aditya Birla Sun Life Insurance is the first company to introduce a free look period. The term insurance offered by the leading insurer provides complete financial protection to the policyholders.

To opt for the right term insurance plan, you can compare ICICI Prudential, and Aditya Birla Sun Life Insurance term plans on different parameters mentioned below.

Term Insurance Plans by ICICI Prudential vs Aditya Birla Sun Life Term Plans

 ICICI Prudential Term Insurance Plans

• ICICI Prudential Term Plans are specifically designed to cater to various needs of people, such as coverage against 34 critical illnesses, including cancer and heart attack.
• ICICI Prudential’s 5 distinct term plans – ICICI Pru iProtect Smart, ICICI Pru iCare II, ICICI Pru Saral Jeevan Bima, ICICI Pru POS iProtect Smart, and ICICI Pru Life Raksha offer comprehensive security at affordable premiums.
• The term plans provide Rs 5 lakh to Rs 2 crores sum assured and extra cover in case of death due to an accident. 
• All premiums paid towards ICICI Prudential term plans are eligible for tax benefits under prevailing laws of the Income Tax Act 1961.
• The term plan offers flexible premium payment options and payout choices.

Why choose ICICI Prudential term policy?

• ICICI Prudential term plans come with attractive features and benefits.
• The insurer guarantees faster and hassle-free claims settlement. 
• If not satisfied with the terms and conditions of the policy, you can return it within 30 days of buying it.
• The term plans comprise in-built feature benefits like in-built permanent disability waiver and in-built terminal illness cover. 

Aditya Birla Sun Life Term Insurance Plans

• Aditya Birla Sun Life Insurance offers 3 different term plans – ABSLI Life Shield Plan, ABSLI DigiShield Plan, and ABSLI Saral Jeevan backed with various features and benefits.
• Each term plans offer different life cover options along with flexible premium payment terms.
• The term plans also offer life cover until 100 years of age, different payout options, and a return of premium option on policy maturity.
• Rider benefits are available to enhance the scope of the coverage in the base policy while providing additional protection.

Why choose Aditya Birla Sun Life Term Insurance?

• Aditya Birla Sun Life Term Insurance provides high life cover at a minimal premium price.
• The term plans are carefully designed to provide financial assistance to the insured’s family in case of their sudden demise.
• Aditya Birla term plans are backed by various flexible options such as various life cover options, payout options, and premium payment options, allowing the policyholder to choose the right one based on their requirements.