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ABSLI DigiShield Plan
A non-linked non–participating term insurance plan

Life can take sudden turns, faster than you can think. Your family should be ready to deal with such unforeseen situations. With the new Aditya Birla Sun Life Insurance DigiShield plan, choose to shield them with greater certainty, depending on their future needs. You can customize the plan as per your requirements at every stage of life at an affordable cost.


How does the plan work?

  • STEP 1 : ABSLI DigiShield Plan offers you the freedom to choose your sum assured and plan option, depending on your needs. Once you choose a sum assured, the plan option determines the enhancements to your chosen life cover over the course of your policy.

  • STEP 2 : ABSLI DigiShield Plan offers you the flexibility to choose your policy term and premium paying term.

  • STEP 3 : Complete a simple application form and pay your premiums based on your above choices.

Key features of the plan

  • Complete financial protection at an affordable cost
  • Two plan options to suit your protection needs
  • Option to enhance coverage at key milestones of your life
  • Option to cover your spouse under the same policy
  • Inbuilt Terminal Illness Benefit
  • Multiple options to receive death benefit to meet your needs
  • Flexible premium paying terms
  • Enhance your insurance with appropriate rider options
 

In case of unfortunate demise of the life insured during the policy term Death Benefit will be paid to the nominee. Death Benefit is the Sum Assured on death less any previously paid Terminal Illness Benefit. The policy shall be terminated once the Death Benefit is paid.

Sum Assured on Death for regular| limited pay will be highest of -

  • 10 times of the annualised premium for all ages; or
  • 105% of all the premiums paid as on the date of death; or
  • Minimum guaranteed sum assured on maturity; or
  • Absolute amount assured to be paid on death

Sum Assured on Death for single pay will be highest of -

  • 125% of single premium for all ages; or
  • Minimum guaranteed sum assured on maturity; or
  • Absolute amount assured to be paid on death

The minimum guaranteed sum assured on maturity is nil under this plan.

The absolute amount assured to be paid on death is the Effective Sum Assured as on the date of death.

  • Under Level Term Assurance Option, the Effective Sum Assured is the sum assured at inception. It will remain constant throughout the policy term.
  • Under Increasing Term Assurance Option, the Effective Sum Assured will increase on every policy anniversary. The amount by which the Effective Sum Assured will increase on even policy anniversary is the sum assured at inception multiplied by 5%/10% p.a. (simple),as chosen by you at inception.

For Level Term Assurance Option, the Effective Sum Assured shall include any change in Sum Assured arising from the exercise of the Enhanced Life Stage Protection option.

The nominee has an option to take the Death Benefit by choosing one of the following options

  • Lump sum payment or
  • Staggered payment with fixed annual income. In this option the Death Benefit will be paid as
    • One-time payout of 20% of Death Benefit at the time of claim settlement plus;
    • The remaining Death Benefit is paid as an annual income. An annual income as a fixed percentage of Death Benefit on each death anniversary of the life insured for the chosen payout term (10 or 15 years)will be payable as shown in the table given below:
    Payout term 10 15
    % of Death Benefit 11% 8.37%

  • Staggered payment with increasing annual income @ 5% p.a. In this option the Death Benefit will be paid as
    • One-time payout of 20% of Death Benefit at the time of claim settlement plus;
    • The remaining Death Benefit is paid as an annual income. An annual income as a fixed percentage of Death Benefit at the time of claim settlement and then increasing at the rate of 5% per annum simple on each death anniversary of the life insured for the chosen payout term (10 or 15 years) will be payable as shown in the table given below:
  • Payout term 10 15
    % of Death Benefit 9.16% 6.47%

In case the nominee would like to get a lump sum instead of the staggered payout post exercising this option, a discounted value of the outstanding annual income shall be paid as lump sum subject to a minimum of the Death Benefit payable less annual income already paid. The discounted value currently shall be calculated using an interest rate of 6.25% per annum. This interest rate is subject to change in future with prior IRDAI approval.

In case you are diagnosed with a Terminal Illness, 50% of the applicable Sum Assured on Death, subject to a maximum of Rs. 2.5 crore, will be paid immediately and future due premiums are waived off. On subsequent death of the Life Insured during the policy term, the Sum Assured on Death shall be reduced by the amount of Terminal Illness Benefit already paid.

Terminal Illness Benefit shall only be payable on the first diagnosis of any Terminal Illness of the Life Insured during the policy term.

Under this option, two lives i.e., you (primary life insured) and your spouse (secondary life insured) are covered under the same policy. The sum assured applicable for your spouse shall be equal to 50% of your applicable sum assured. This option shall only be available where the sum assured of prima life insured is greater than or equal to Rs 60,00,000. You can opt for this option at the inception of the policy and the same shall not be changed subsequently. No rider can be opted under this option.

Your protection need varies at different life stages owing to occurrence of joyous events such as marriage & birth of children. You may opt to increase your life cover on occurrence of each of the events without undergoing for any fresh medical examination. This feature is available only for policy under Level Term Assurance Option, standard life at inception of the policy, regular pay policy and the attained age of life insured is less than or equal to 50 years while exercising this option. This option is not available if Joint Life Protection is opted. Future premiums shall be increased in proportion of the increase in the sum assured to the sum assured at inception of the policy and will be reflected from the subsequent policy anniversary.

The details of Enhanced Lifestage Protection are mentioned below:

Event Enhanced Protection (% of Sum Assured at Inception of the policy)
First Marriage 50% subject to a maximum of Rs.50,00,000
Birth of 1st Child 25% subject to a maximum of Rs.25,00,000
Birth of 2nd Child 25% subject to a maximum of Rs.25,00,000

You can choose to reduce the sum assured in future to the extent of sum assured increased under the Enhanced Lifestage Protection option. Any increase in sum assured due to your first marriage, birth of first child or second child under this option, may be subsequently reduced subject to the written request.
There is no maturity benefit payable under this plan.
For added protection, you can enhance your insurance coverage during the policy term by adding following riders for a nominal extra cost.
  • ABSLI Accidental Death and Disability Rider (UIN: 109B018V03)
  • ABSLI Critical Illness Rider (UIN: 109B019V03)
  • ABSLI Surgical Care Rider (UIN: 109B015V03)
  • ABSLI Hospital Care Rider (UIN: 109B016V03)
  • ABSLI Accidental Death Benefit Rider Plus (UIN:109B023V01)

Riders are not available for Joint Life Protection Option.

You can only opt for either ABSLI Accidental Death and Disability Rider or ABSLI Accidental Death Benefit Rider Plus.

Please refer to detailed brochures on riders, consult your financial advisor or visit our website for further details.

For more details on the benefits, please read the product brochure.

Entry Age 18 to 65 years of age
Maximum Maturity Age 80 years
Plan Option I - Level Term Assurance II - Increasing Term Assurance
Policy Term 5 to 40 years
Premium Paying Term Single Pay | Limited Pay - 5 | 7 years | Regular Pay
Premium Mode Annual | Semi-annual | Quarterly | Monthly
Sum Assured Min. Rs.30,00,000 Max. No Limit (subject to underwriting guidelines)


The above values are illustrative and for a healthy male. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc..

Please click here to Download product brochure
Please click here to download policy contract
Disclaimer

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI) This is a non-participating traditional term insurance plan. All terms & conditions are guaranteed throughout the policy term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. For more details on risk factors, terms and conditions, please refer to the sales brochure before concluding the sale. Tax benefits are subject to changes in the tax laws. For more details and clarification call your ABSLI Insurance Advisor or visit our website. Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited) Reg. Office: One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841 Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI reg no.109 CIN: U99999MH2000PLC128110 ADV/7/18-19/3013 VER1/JUL/2018

UIN: 109N108V02