Death Benefit in Aditya Birla Sun Life Insurance Guaranteed Milestone Plan (Joint Life)

 When it comes to ensuring lifelong protection and financial security for your loved ones, Aditya Birla Sun Life Insurance (ABSLI) has consistently delivered trusted life insurance solutions. Among its top offerings, the ABSLI Guaranteed Milestone Plan (GMP) stands out, especially with its Joint Life Death Benefit feature. This plan is designed to offer guaranteed benefits, life cover, and savings for both single and joint policyholders.

In this article, we will focus on the Death Benefit (Joint Life) option under the Aditya Birla GMP and how it provides dual protection for couples and families.

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What is the ABSLI Guaranteed Milestone Plan (GMP)?

The ABSLI Guaranteed Milestone Plan is a non-linked, non-participating life insurance savings plan offered by Aditya Birla Capital Life Insurance. It is specifically crafted for individuals who seek guaranteed benefits, protection, and milestone-based payouts.

Key highlights of the plan:

• Guaranteed lump sum payouts

• Flexibility to choose between Single Life or Joint Life cover

• Long-term savings with life cover

• Loyalty additions

The plan is preferred among many policyholders who value financial certainty and long-term goals like child education, marriage, or retirement.

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Understanding Joint Life Cover in Aditya Birla Life Insurance Plans

The Joint Life Cover option under the Aditya Birla GMP allows two lives (usually spouses) to be covered under a single policy. This option is ideal for couples seeking comprehensive family protection.

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Death Benefit in Joint Life (ABSLI Guaranteed Milestone Plan)

In the unfortunate event of the first policyholder's death, the plan provides a death benefit while continuing the cover for the surviving life assured. Here's how it works:

🔹 On First Death (During Policy Term)

• The Sum Assured on Death is paid to the nominee.

• The policy continues without any future premiums (Premium Waiver Benefit).

• All future benefits remain intact.

🔹 On Second Death (Surviving Life Assured)

• An additional Sum Assured is paid out to the nominee.

• The policy terminates post the second death.

✅ Sum Assured on Death = Higher of:

• 10 times the annual premium

• 105% of total premiums paid

• Guaranteed Sum Assured on Maturity

• The absolute amount assured to be paid on death.

This dual death benefit makes ABSLI life insurance one of India's best joint protection plans, ensuring complete peace of mind.

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Why Choose Aditya Birla Sun Life Insurance Joint Life Option?

1. Double Protection: Both partners are secured under one plan.

2. Guaranteed Payouts: Fixed benefits irrespective of market fluctuations.

3. Premium Waiver: The Surviving partner is not burdened with future premiums.

4. Wealth Creation: Milestone payouts offer long-term savings.

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Aditya Birla Sun Life Insurance Policy Details (GMP Joint Life)

Feature	Details
Plan Type	Joint Life (Non-linked, Non-participating)
Death Benefit	Dual payout on first and second death
Premium Payment Term	Limited Pay options: 6, 8, 10, 12 years
Policy Term	Up to 25 years
Maturity Benefit	Guaranteed Milestone Benefit + Loyalty Additions
Entry Age	18 to 55 years (Primary Life)
Maximum Maturity Age	85 years

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Who Should Buy the ABSLI Guaranteed Milestone Plan (Joint Life)?

• Married couples looking for shared financial protection

• Parents seeking secure future for their children

• Individuals planning for dual legacy

• Families with long-term financial responsibilities

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Conclusion

The Death Benefit (Joint Life) under the Aditya Birla Sun Life Insurance Guaranteed Milestone Plan is an ideal solution for couples wanting dual life protection, guaranteed returns, and future-proofing their financial goals. By opting for this smart and secure plan, you're not just investing in insurance—you're securing a milestone-based legacy for your family.

Claim Settlement Ratio in HDFC Life Insurance 2025 – All You Need to Know

 When choosing a life insurance provider, one of the most crucial factors is the claim settlement ratio (CSR). A high CSR indicates that the company is reliable and honors most of the claims raised by policyholders or their nominees. In this guide, we’ll explore the Claim Settlement Ratio in HDFC Life and how it reflects the credibility of HDFC Life Insurance.

Claim Settlement Ratio in HDFC Life

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 What is the Claim Settlement Ratio?

The Claim Settlement Ratio (CSR) is the percentage of insurance claims a company successfully settles in a financial year. For instance, if 1000 claims were raised and 985 were settled, the CSR would be 98.5%. This number gives insight into how trustworthy an insurer is when it comes to fulfilling its promise.

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 HDFC Life Claim Settlement Ratio 2023-24

As per IRDAI’s latest annual report, HDFC Life Insurance reported a Claim Settlement Ratio of 99.39% for individual claims in FY 2023-24. This reflects the company’s strong commitment to customer service and trust.

✅ This high ratio makes HDFC Life one of the most reliable life insurers in India.

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 Why Claim Settlement Ratio Matters in HDFC Life Insurance

Here’s why you should care about CSR when purchasing any HDFC Life Insurance policy:

• ✅ Ensures your loved ones receive the promised financial support

• ✅ Builds trust in the insurer's credibility

• ✅ Reflects customer satisfaction and ethical claims practices

• ✅ Important for long-term policies like HDFC Term Insurance or whole-life plans

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 HDFC Life Policy Details You Should Know

If you’re planning to buy or already hold an HDFC Life insurance policy, make sure to review:

• Policy term & maturity details

• Premium payment frequency

• Policy exclusions

• Claim process and required documentation

• HDFC Life renewal options (via online & offline)

You can view your HDFC Life policy details online through the official HDFC Life customer portal.

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 How to File a Claim Under an HDFC Life Insurance Policy

HDFC Life offers a simple and online-enabled claim process:

1. Notify the insurer through their online portal, branch office, or helpline.

2. Submit required documents (death certificate, ID proofs, policy documents).

3. Claim review by HDFC Life claim assessors.

4. Claim settlement is usually within a few working days if the documentation is complete.

This quick turnaround time contributes to the high HDFC Life Claim Settlement Ratio.

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 Benefits of HDFC Life Online Insurance

Purchasing HDFC Life online insurance offers several perks:

• Instant premium quotes

• Quick policy issuance

• Transparent policy comparison

• Hassle-free HDFC Life renewal

• 24/7 access to HDFC Life policy details

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 HDFC Bank Life Insurance Partnership

HDFC Bank offers exclusive life insurance plans in collaboration with HDFC Life. These are ideal for customers who prefer premium auto-debit, fast claim service, and account integration.

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 HDFC Life Insurance Benefits

Here’s why policyholders prefer HDFC Life Insurance:

•  High Claim Settlement Ratio (99.39%)

•  Transparent policies and smooth claim process

•  Strong portfolio of HDFC Life insurance plans

•  Easy policy renewal and tracking

•  Trusted by millions of Indians

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 Summary Table

Feature	Details
Company	HDFC Life Insurance
CSR (2023-24)	99.39%
Claim Time	Within 3–10 days (with complete documents)
Popular Plans	Click 2 Protect Super, Sanchay Plus, Click 2 Wealth
Purchase Mode	Online & Branch
Renewal	Online, UPI, Debit Card, Netbanking

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 Final Thoughts

Choosing a life insurance plan is not just about premiums and benefits — it’s also about the insurer’s reliability and trust. With a 99.39% Claim Settlement Ratio, HDFC Life assures policyholders that their loved ones will be taken care of when it matters the most.

Whether you're exploring HDFC Term Insurance, investment-linked plans, or online policies, ensure your insurer has a consistent track record. And HDFC Life checks all the right boxes.

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 FAQs – Claim Settlement Ratio in HDFC Life

Q1. What is HDFC Life's claim settlement ratio for 2023-24?
A. It stands at 99.39%, as per the latest IRDAI report.

Q2. How can I check my HDFC Life insurance policy details?
A. Log in to the HDFC Life customer portal or call their helpline to access policy information.

Q3. Is HDFC Life reliable?
A. Yes, its high CSR, wide plan options, and efficient service make it a trustworthy insurer.

Q4. Can I file a claim online?
A. Yes, HDFC Life allows online claim intimation and tracking via its website and app.

30-Day Return Policy in ICICI Prudential iProtect Smart Term Insurance – Know Your Rights

 When buying a term insurance plan, knowing your rights as a policyholder is important. One key benefit offered by ICICI Prudential Life Insurance is the 30-day free-look period under its flagship term plan – ICICI Pru iProtect Smart. This policy feature allows you to review your insurance decision and request a cancellation if you’re not satisfied.

Let’s dive into how the 30-day return policy works, who it applies to, and how you can benefit from it.

30-Day Return Policy in ICICI Prudential iProtect Smart

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 What is the 30-Day Free-Look Period in ICICI Pru iProtect Smart?

The free-look period is a provision under the ICICI Prudential iProtect Smart plan that allows policyholders to cancel their policy within 30 days of receiving the policy document. If you are not happy with the terms and conditions, features, or benefits mentioned in your policy, you can return it during this time for a full refund (subject to deductions).

This policy feature is designed to increase customer confidence and satisfaction in all ICICI Prudential Life Insurance Plans.

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 Conditions to Avail the 30-Day Return Benefit

To successfully cancel your ICICI Life Term Insurance Plan under this provision, the following conditions must be met:

• The policyholder must initiate the cancellation within 30 days of receiving the policy.

• The policy should have been purchased online or through distance marketing mode.

• A written request for cancellation, along with a valid reason, must be submitted to ICICI Pru Life.

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 Refund Process: What You Get Back

When you cancel the ICICI Pru iProtect Smart Plan within the free-look period, the premium you paid will be refunded after deductions. These deductions include:

• Stamp duty charges

• Medical examination costs (if applicable)

• Proportionate risk premium for the number of days the policy was active

This refund process is initiated only after the original policy document is returned to ICICI Prudential.

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 How to Initiate a Return Request?

You can cancel your ICICI iProtect Smart Policy in three easy steps:

1. Contact Customer Support: Call or email ICICI Prudential Life customer service with your policy number.

2. Submit a Written Request: Draft a request explaining why you want to cancel the policy.

3. Return Original Documents: Send back the policy document and provide necessary identification proof.

You can also visit your nearest ICICI Bank branch for in-person support or raise a service request through the ICICI PruLife app or website.

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 Why ICICI Prudential Offers This 30-Day Policy?

As a leading player in the insurance space, ICICI Prudential Life Insurance aims to maintain transparency and trust. The 30-day free-look period:

• Encourages informed decision-making

• Increases customer satisfaction

• Reflects the integrity of ICICI Prudential Plans

• Aligns with IRDAI regulations

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 ICICI Pru iProtect Smart – An Overview

Before you cancel, it's worth reconsidering the powerful benefits of this plan:

Feature	Details
Plan Name	ICICI Pru iProtect Smart
Type	Term Life Insurance
Coverage	Life, Terminal Illness, Accidental Death, Critical Illness
Add-ons	Waiver of premium, Disability protection
Premium Payment	Monthly/Annual
Tax Benefits	Under Sec 80C & 10(10D)

This ICICI Life Term Insurance Plan is not just cost-effective but highly flexible, making it one of the most popular ICICI Life Insurance Policies available today.

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 Final Thoughts – Use the Free-Look Period Wisely

The ICICI Prudential iProtect Smart plan offers great features, but it’s important to make sure it fits your long-term financial goals. The 30-day return policy gives you that cushion to rethink or re-evaluate your decision. So, if you feel this term insurance is not right for you, don’t hesitate to cancel during this window.

But if you’re confident about your choice, this plan can offer comprehensive coverage with high reliability, backed by the trusted name of ICICI Prudential Life Insurance.