We all wish for the goodwill of our family and the people we love. To make
sure they are taken care of in the most critical stages of life you need a
plan. Designed for salaried professionals and entrepreneurs alike, Aditya
Birla Sun Life Insurance Income Shield Plan provides the financial support
needed to protect your loved ones even in case of death or other
unforeseen circumstances. It ensures that the family continues to earn the
same monthly salary or income necessary to enjoy the same lifestyle as
earlier. Give your family the shield they deserve to protect their dreams
Key Benefits of the plan
- Complete financial protection at an affordable cost
- 4 plan options to suit your protection needs
- EVA benefit – a benefit exclusive for females
- Flexible Premium Paying Terms & Income Benefit Term
- Enhance your insurance with appropriate rider option
In the event of death of the life insured during the policy term, monthly income depending
on the chosen plan option will be paid to the nominee over the Income Benefit Term. The
first payout will be made on the acceptance of the death claim and subsequent monthly
payouts will be made on each policy monthiversary throughout the Income Benefit Term.
The monthly income benefit payable on death is equal to 1.25% of the Sum Assured.
The total monthly income payable on death over the Income Benefit Term will be the
assured benefit to be paid on death under this plan.The Sum Assured on Death is the highest of:
- 10 times of the annualised premium for all ages; or
- 105% of the total premiums paid up to the date of death; or
- Maturity Sum Assured; or
- Assured benefit to be paid on death.
The maturity sum assured is nil under this plan.
A benefit exclusively for women where we ensure freedom from paying premiums for a
year incase the life insured delivers a baby during the policy term. At that stage the top
priority for a mother is to bond with the new born without woring about financial
obligations. Although this benefit will be offered under all plan options, the life insured (if
females) can avail of this benefit only once during the policy term. Post the one year
waiver, the premiums are to be paid when due to enjoy the policy benefits for the rest of
the policy term.
There is no maturity benefit payable under this plan.
For Regular Pay
For Limited Pay
If you discontinue paying premiums after having paid premiums for at least four full years,
your policy will not lapse but will continue on a Reduced Paid –Up basis. Under Reduced
Paid-Up, your Sum Assured shall be reduced in proportion to the premiums actually paid
to the total premiums payable during the premium paying term.
Once the policy has become Reduced Paid-Up, the monthly income payable on death of
the life insured is amended to 1.25% of the reduced Sum Assured as on date of Death. If
Plan Option 2 or Plan Option 4 is chosen the monthly income payable on death of the life
insured will continue to be increased by 5% p.a. simple every year. The pemium waiver on
Critical Illness or Total Permanent Disability or for EVA benefit shall not be applicable on
For added protection, you can enhance your insurance coverage during the policy term by
adding ABSLI Accidental Death Benefit Rider Plus (UIN:109B023V01) for a nominal extra cost.
Please refer to the detailed brochure on rider, consult your financial advisor or visit our
website for further details.
For more details on the benefits, please read the product brochure.
At inception, you choose the sum assured, plan option and how long you want to pay.
||On death we will pay the nominee a level monthly income# during the Income Benefit Term
||On death we will pay the nominee a monthly income increasing at 5% p.a. (simple) during the Income Benefit Term
||On death we will pay the nominee a level monthly income during the
Income Benefit Term Additionally on diagnosis of a Critical Illness^ or
diagnosis of Total Permanent Disability^ whichever is earlier, the future
premiums will be waived off and the policy will continue till the end of
||On death we will pay the nominee a monthly income increasing at
5% p.a.(simple) during the Income Benefit Term
Additionally on diagnosis of a Critical Illness^ or diagnosis of Total
Permanent Disability^ whichever is earlier, the future premiums will be
waived off and the policy will continue till the end of policy term
Plan option once selected cannot be changed during the policy term.
# Monthly Income is 1.25% of the chosen Sum Assured
^ Explained in detail later in the brochure
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked non –
participating 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. An extra premium may be charged
as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc.
The insurance cover for the life insured will commence on the policy issue date. For further details please refer to the policy
contract. Tax benefits are subject to changes in the tax laws. For more details and clarification call your ABSLI Insurance
Advisor or visit our website and see how we can help in making your dreams come true. Aditya Birla Sun Life Insurance
Company Limited (Formerly Birla Sun Life Insurance Company Limited) Registered 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/3/17-18/1963 VER1/MAR/2018