Key Features
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Complete financial security
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Worry free goal achievement through Policy Continuance Benefit
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Choose from 4 investment options
Plan Options
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Decreasing Term Insurance
Policy Year Policy Term (upto 20 years) Policy Term (above 20 years) 1 to 5 100% 100% 6 to 10 90% 95% 11 to 15 75% 90% 16 to 20 50% 85% 21 to 25 N.A. 70% 25 to 30 N.A. 50% -
Increasing Term Assurance with Waiver of Premium (WOP) Benefits
In addition to benefit applicable for Option 1, in case you are diagnosed with Critical Illness^ or Total and Permanent Disability^ whichever is earlier, all future premiums, if any, will be waived off and policy will continue till end of policy term.
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Increasing Term Insurance
You can choose to enhance your sum assured at inception by 5% / 10% p.a. (simple) as per your needs. Every year, your sum assured will increase by 5% / 10% p.a. (simple) of the original sum assured without any increase in your premium amount.
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Level Term Assurance
You can choose to enhance your sum assured at inception by 5% / 10% p.a. (simple) as per your needs. Every year, your sum assured will increase by 5% / 10% p.a. (simple) of the original sum assured without any increase in your premium amount.
- Death Benefit In case of your unfortunate demise during the policy period, a pre-determined death benefit will be paid to your nominee. The policy will stand terminated once the death benefit is paid.
- Terminal illness benefit The policy comes with an inbuilt terminal illness cover. In case you’re diagnosed with a Terminal illness during the policy period, 50% of the applicable sum assured on death, subject to a maximum of Rs. 2.5 Crore will be paid immediately and the remaining future premiums on your policy will be waived off.
- Waiver of premium In case you suffer with total or permanent disability during the policy term, all future premiums will be waived off. The death benefits under the policy will remain unaffected.
- Return of Premium If you choose Plan Option 7 or 8, the sum total of all premiums paid by you shall be returned to you on policy maturity date in case you survive the policy period.
- Joint life protection 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. You can opt for Joint Life Protection for only if Plan Option 1, 2, 3 or 4 is chosen. No rider can be opted under this option.
- Enhanced life stage protection Your protection needs varies at different lifestages owing to occurrence of events like marriage and birth of children. You can choose to increase the coverage on occurrence of each of the events without undergoing any fresh medical examination.
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Customisable benefits
For added protection, ABSLI Life Shield Plan can be enhanced by following riders for a nominal extra cost:
- ABSLI Accidental Death and Disability Rider
- ABSLI Critical Illness Rider
- ABSLI Surgical Care Rider
- ABSLI Hospital Care Rider
- ABSLI Accidental Death Benefit Rider Plus
- Entry Age (age last birthday) 18 to 65 years
- Maximum Maturity Age 80 years
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Policy Term
Minium
- For Plan Option: 1 | 2 | 3 | 4 | 5 | 6 – 10 years
- For Plan Option: 7 | 8 or 20 years
- Maximum 50 years
- Premium Paying Term Single Pay | Limited Pay – 6, 8 Years | Regular Pay
- Premium Mode Annual | Semi-annual | Quarterly | Monthly
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Sum Assured
Minimum
- Maximum Rs. 25,00,000
- No Limit (subject to underwriting guidelines)
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Riders
ABSLI Accidental Death Benefit Rider Plus (UIN:109B023V02)
Get additional protection for accident leading to death at a nominal cost.
ABSLI Accidental Death and Disability Rider (UIN: 109B018V03)
Get additional protection for accident leading to death or disability at a nominal cost.
ABSLI Critical Illness Rider (UIN : 109B019VO3)
Get benefit amount as a lumpsum upon diagnosis of any of the 4 specified critical illnesses.
ABSLI Hospital Care Rider (UIN: 109B016V03)
Get daily cash benefit, additional ICU benefit and lumpsum recuperating benefit upon hospitalization
ABSLI Surgical Care Rider (UIN: 109B015V03)
Get lump sum benefit amount to cover surgical expenses
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Decreasing Term Insurance
Policy Year Policy Term (upto 20 years) Policy Term (above 20 years) 1 to 5 100% 100% 6 to 10 90% 95% 11 to 15 75% 90% 16 to 20 50% 85% 21 to 25 N.A. 70% 25 to 30 N.A. 50% -
Increasing Term Assurance with Waiver of Premium (WOP) Benefits
In addition to benefit applicable for Option 1, in case you are diagnosed with Critical Illness^ or Total and Permanent Disability^ whichever is earlier, all future premiums, if any, will be waived off and policy will continue till end of policy term.
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Increasing Term Insurance
You can choose to enhance your sum assured at inception by 5% / 10% p.a. (simple) as per your needs. Every year, your sum assured will increase by 5% / 10% p.a. (simple) of the original sum assured without any increase in your premium amount.
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Level Term Assurance
You can choose to enhance your sum assured at inception by 5% / 10% p.a. (simple) as per your needs. Every year, your sum assured will increase by 5% / 10% p.a. (simple) of the original sum assured without any increase in your premium amount.
