Ab Nuvo To Sell Stake Worth Rs 1664 Crore In Insurance Jv
Aditya Aditya Birla Nuvo on Tuesday said 23% stake worth Rs 1,664 crore will be sold in Aditya Birla Sun Life Insurance to substantially reduce its net debt as well as enhance the balance sheet to support their growth plans.
Canada’s Sun Life Financial has proposed to increase its stake in the insurance joint venture Aditya Birla Sun Life Insurance to 49% from 26% with an investment of Rs 1,664 crore.
BLSI is majorly owned by Aditya Aditya Birla Nuvo Ltd and after the deal, it would stably hold the controlling stake in their joint venture at 51%.
ABNL mentioned in a filing that they made to the stock markets,”Proceeds from the stake sale in BSLI will reduce the net debt of ABNL substantially. Coupled with the free cash flow generation from divisions, the standalone balance sheet of ABNL will stand strengthened to support its growth plans,” ABNL said in a filing made to the stock exchanges.
The deal, is expected to be completed by the end of 2015-16 fiscal year, subject to regulatory approvals.
9 December 2015
Sun Life To Raise Its Stake In Aditya Birla Sun Life
Canadian insurer Sun Life Financial Inc. is planning to raise its stake in its joint venture in India, Aditya Birla Sun Life Insurance. Asia contributed about 13 percent to Sun Lifes earnings in the second quarter.
Since the RBI has increased the proportion of foreign investment, insurance companies are creating an opening for Sun Life to expand its presence. Chief Executive, Dean Connor said that Sun Life wants to increase its stake in Aditya Birla Sun Life to 49 percent from the current 26 percent. Conner believes that the Asian business will be larger than their Canadian business.
Sun Life also owns 49 percent of Aditya Birla Sun Life Asset Management, it is the fourth largest mutual fund company in India. Sun Life shares went up to 4.9 percent on 6th August after the company reported a quarterly profit.
11 August 2015
Where To Get Financial Advice
The information in this article is provided for general guidance only and is not offering financial advice.
Heres some ways you can seek unbiased financial advice.
- Unbiased – find qualified financial advisors
- MoneyHelper – information on choosing a financial adviser
- Citizens Advice Bureau – can offer online or face-to-face advice
Find out more about this type of life cover, how much it could cost and why SunLifes Guaranteed Over 50 is the most popular over 50 plan.*
*Most Trusted/UK’s Favourite – Source: Association British Insurers statistics.
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Insurance Regulatory And Development Authority Proposes New Rules To Safeguard Customers Buying Insurance
It is well known that some insurance agents will try to sell you policies that earn them the maximum commissioned and not ones which suit your needs. In light of this the Insurance Regulatory and Development Authority has proposed a new set of rules and guidelines that will promote more transparency and protect the interests of the customer during the sale of insurance products.
According to the new guidelines insurance agents will be required to disclose commision details should the customer ask for them and also tell customers the details of the premiums and any other policy related information that is asked for. They will also have to tell customers of similar products from other companies they represent and suggest the policy that is best for the customer.
These guidelines also make the insurers responsible for any mis-sales by their agents and may attract penalties of up to Rs. 1 crore if violations are discovered. The companies will also have to take responsibility of the agents and resolve conflicts without having to turn to and arbitrator for a solutions. They also suggest stricter hiring norms and background checks with the creation of a centralised list of agents who have been black-listed.
3 February 2015
Sun Life Go Term Life Insurance
Term: 10 or 20 yearsCoverage: $100,000 up to $1 million, in $25,000 incrementsTemporary coverage: Yes
Sun Life Go Term Life Insurance comes with a guaranteed premium for 10 or 20 years based on your choice at the time of purchase. When your term ends, your policy will automatically renew for the same term length unless you choose otherwise.
At this time, your monthly payments will go up and remain consistent for the remainder of your new term.
You must be between the ages of 18 and 69 and legally live in Canada.
How to apply:
Apply online through Sun Life Go and answer some health questions. Temporary insurance is included upon application regardless of the approval decision by Sun Life for up to 90 days.
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Different Types Of Policies Provided By Aditya Birla Sun Life Insurance Company Limited
Following are the different types of life insurance products offered by Aditya Birla Sun Life Insurance Company Limited:
Aditya Birla Sun Life Insurance Announces That It Is Open To Consolidation
Due to the business disruptions caused by the Covid-19 pandemic that has caused a churn in the insurance industry, Aditya Birla Sun Life Insurance has announced that it is open to consolidations, although there are no discussions going on currently. The company is not looking to raise any funds urgently as it is currently well placed with business in the first quarter of the financial year being in a good condition. It is now focusing on products that have both protection and guarantee. During these challenging times, two products were launched by the company, which were ABSLI Assured Flexisavings Plan and ABSLI Child’s Future Assured Plan. The plan is to achieve around 15% to 29% growth by the end of this financial year. In the first quarter of FY2020-21, the gross premium income was Rs.1,6896 crore. The new premium growth increased by 5%. Approximately 71% of premiums were renewed through digital channels this year. Death claims were lower during the first quarter of this financial year. The company has also received a total of 69 claims for Covid-19 treatments so far which is 2% of the overall claims.
27 August 2020
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How To Check Your Policy Status
The following are the ways in which you can find out the status of your policy status:
- You can dial the toll free number 1-800-270-7000 to find out the status of your policy.
- You can end a mail to .
- You can visit the nearest branch of Aditya Birla Sun Life Insurance to find out the status of your claim.
Via Bdo Online Banking
So here are the steps in paying your Sun Life insurance plan via BDO online banking:
1. Log-in to Your BDO Online Account
Login to your account in BDO Online. Click here to access your BDO accounts online.
2. Click Pay Bills and Reload
Upon signing in, click pay bills and reload > click enrolment > company biller > enroll. Put your policy number as the subscriber number and select other channels you may want to enroll.
3. Wait for the Confirmation Page
Once the enrolment is successful, you can now pay your due.
4. Pay the Premium
Choose Sun Life of Canada Philippines Inc. and fill out the remaining items then click submit.
Thats it. You just need to enroll your Sun Life insurance first and then pay it just like how you settle your utility bills online.
So heres how you can enroll your Sun Life plan via Metrobank online.
So heres how to pay your Sun Life plan via Metrobank online.
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Online Banking Sun Life Payment Via Bpiexpressonline / Bdo Online
How do I pay using BPIexpressonline.com?
- Login to your bpiexpressonline.com account
- On the Menu, go to Payments and Reloading -> Bills Payment -> Enroll All Other Bills Company Name is Sun Life of Canada Reference Number is your Policy Number Click Submit
- Go to Payments and Reloading -> Bills Payment -> Pay Bills Today
- Garry De Castro on FREQUENTLY ASKED QUESTIONS ON INSURANCE PAYMENTS : Hi Grace, yes thats possible. May penalty ba? The good thing with VUL, walang penalty. May effect ba sa VUL
Aditya Birla Sun Life Protection Plans:
The protection plans offered under Aditya Birla Sun Life Insurance help ensure the financial security of ones family, especially during times of crisis. These protection solution plans offer your family total financial security, therefore, reducing the overall stress.
|Type of plan|
|5 to 40 years|
|10 to 40 years|
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Sun Life Go Simplified Term Life Insurance
Coverage: $50,000, $75,000 or $100,000Temporary coverage: Yes
Sun Life Go Simplified Term Life Insurance comes with a guaranteed premium for ten years. After ten years, your insurance will automatically renew , and your rates will increase. This product offers coverage ranging from $50,000 to $100,000.
You must be between the ages of 18 and 69 and legally live in Canada.
How to apply:
Simply answer three health questions and apply online through Sun Life Go. Temporary insurance is included when you apply you will remain covered until your application is either approved or denied, up to 90 days.
Pay Sun Life Premiums Via Gcash
So here are the steps on how to pay Sun Life via GCash:
1. Launch the GCash App
Open the GCash application on your phone and then click the pay bills facility.
2. Choose Insurance
Then choose the most appropriate biller category, which is insurance.
3. Click Sun Life of Canada Phils
4. Fill-out the Form
5. Payment Confirmation
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How To Pay Sun Life Insurance Through Bdo Online
One of the wisest decisions you can make in your lifetime is to prepare for your future and invest in a reliable and legit insurance company. One of these companies is Sun Life Insurance. The Sun Life VUL cant be considered as a mere investment but an insurance product as well. Youre not only insured but your money will be earning interest at the same time. Another good news is that you dont have to go to their office, banks or payment centers to pay your premium. You can pay it online through BDO.
What Is Sun Life Go
Sun Life Go offers users a much more streamlined, flexible, and quick method to access quality life insurance. Coupled with good coverage and terms, Sun Life Go life insurance can be accessed in a matter of minutes and give you coverage between $5,000 to $1 million.
In addition, you are covered temporarily the moment you apply and have access to a 30-day free look during which you can get your money back.
If youre in a hurry, you can get a quick quote with Sun Life Go and get coverage nearly immediately. If youve got a little bit more time, you can also get a personalized quote, which only takes 25 minutes. Note: Quebec residents must complete a customized quote.
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Choosing The Right Life Insurance For You
Life insurance helps to protect your family in difficult times.
A lot of different factors, such as age, gender, and health status, can go into deciding which life insurance is right for you. Generally, most people will benefit from the flexibility and lower cost of term life insurance.
Sun Life Gos Simplified Term Insurance can be good for those who may have concerns about their health and do not want to answer an extensive list of health questions or undergo a checkup.
If you consider yourself to be in good health, you should consider applying for another term life insurance product, such as the regular Term Insurance from Sun Life Go or Sun Lifes other term life insurance products, where youll answer some additional health questions but will likely secure a better rate.
The Guaranteed Life Insurance is a safety net for your loved ones when it comes to funeral expenses. This type of insurance coverage can be good for those who are in poor health.
What Is A Free Look Period Does Aditya Birla Sun Life Insurance Provide A Free Look Period
Yes, Aditya Birla Sun Life Insurance offers a free look period. In fact, they were the first insurance company to introduce the idea of free look period that was later made mandatory by the IRDAI.
Free look period is the time during which you can hold a particular insurance policy and then give it back if you want to. This period lasts for 15 days since the time you receive the policy. This period is applicable to all types of policies. You will get a refund of the premium that you would have paid. This amount will be ascertained after subtracting the medical expenses, stamp duty, and the proportionate risk premium.
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How Can I Get A Loan On My Aditya Birla Sun Life Insurance
Once your policy has reached surrender value, you can avail a loan against it. You will have to refer to your policy document to find out about the minimum and maximum loan amount that you can apply for. Aditya Birla Sun Life Insurance will charge an interest on the outstanding balance of the loan at a rate that is decided by them.
My Financial Advisor Garry
Investing Guide in Sun Life Insurance, Mutual Funds, VUL etc in the Philippines.
One of the most Frequently Asked Questions Ive been getting from aspiring, new and existing Sun Life Policy Holders is How Do I Pay Easily my Sun Life Insurance in the Philippines and abroad?
Good thing Sun Life Philippines officially posted all the possible options how you can easily pay your Sun Life Insurances / Policies be it offline, online, here and abroad.
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Sign Up To Access My Sun Life:
If you have submitted a paper claim in the past you will be able to register both online and over the phone. If you have never submitted a paper claim before you will need to register by phone. You’ll need your Employee ID # and University contract number 25379 for both online and over the phone registration.
To register online:
To register by phone:
Sun Life uses two-step verfication process to strengthen their online portal security. When you sign-in to mysunlife.ca youll be asked for your preferred phone number and given a choice between voice or text message verification. Youll also be able to select whether you would like Sun Life to ask for two-step verification every time you sign-in, or only when they need it.
Sun Life uses a US-based provider for this service. They will be doing so in compliance with all applicable Canadian laws, and will only be sharing phone numbers with the provider.
Please note: Pension and Benefit Advisory Services staff cannot assist you with forgotten Access IDs or passwords. Please contact Sun Life for assistance if needed.
Does Aditya Birla Sun Life Insurance Offer Plans For Nris
Yes, Aditya Birla Sun Life Insurance offers plans for NRIs also. NRIs can get financial solutions through Vision LifeIncome Plan. This plan provides survival benefits and life coverage. Policyholders get survival benefits each year from the end of the term of paying the premium to the date of maturity. They can also get riders to enhance their policy.
What Is Term And Permanent Life Insurance
Before we dive into Sun Life Gos products, lets briefly go over the two types of life insurance they offer: term and permanent.
Term life insurance is designed for flexibility and provides coverage for a specific period of time, such as one year, five years, 15 years, or more. Term life insurance offers temporary protection that you can customize to meet your changing needs and is more affordable than permanent life insurance.
With this type of insurance, the policy pays a tax-free benefit to your beneficiaries in the event of your death.
Permanent life insurance, on the other hand, lasts for your whole life and is more expensive than term life insurance.
With most permanent life insurance products, however, your monthly costs/premiums will be guaranteed for life, meaning it will not go up despite inflation or increased costs of living. In addition, you dont have to continue paying after you hit a certain age with some permanent life insurances, which is a bonus.
The two other common types of life insurance are participating life insurance and universal life insurance. However, these are not available through Sun Life Go.