What is the DigiShield Plan about?
Aditya Birla Sun Life Insurance DigiShield Plan is a term insurance plan designed to secure your family’s financial future against uncertainties and unforeseen circumstances.
What are the key features of the DigiShield plan?
- Complete financial protection at an affordable cost
- Two plan options - level and increasing sum assured 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 lump sum or regular income to receive death benefit to meet your needs
- Flexible premium paying terms
- Variety of rider options to enhance your insurance
What benefits does the DigiShield Plan offer?
In case of the unfortunate demise of the life insured during the policy term, Sum assured will be paid to the nominee. The policy shall be terminated once the Death Benefit is paid. If terminal illness benefit is paid, equivalent amount will be deducted from final death benefit.
Joint Life Protection
Under this option, you can cover your spouse under the same policy
The sum assured applicable for the life insured’s spouse shall be equal to 50% of the applicable sum assured.
This option is only available where the sum assured of the primary life insured is greater than or equal to Rs. 60, 00,000.
One can opt for this during the time of purchase of the policy and cannot be changed subsequently.
No rider can be opted for under this option.
Enhanced Life stage Protection
The protection needs of the life insured increase at key milestones in their life like marriage and child birth. With this policy, the life insured can opt for increased life cover at the occurrence of such events.
This option is not available if Joint Life Protection is opted for.
Future premiums will increase based on the chosen increase in your sum assured and will be applicable from the following policy anniversary
With this option, the life insured can enhance their insurance coverage by adding riders for a nominal cost
What are riders?
A rider is an add-on to the original life insurance policy, which offers benefits over and above the plan subject to certain conditions
Why should one opt for riders?
Riders are a way of maximizing the benefits on a current policy. Riders are also a way of customizing a life insurance plan as per the specific needs of the life insured.
What are the different types of riders available for this plan?
ABSLI Accidental Death and Disability Rider:
This rider provides additional financial security in case of accidental death or disability.
ABSLI Accidental Death and Disability rider covers the following events:
Accidental Death: In the unfortunate event of the death of the life insured within 180 days of the occurrence of an accident, the nominee gets the rider sum assured.
Accidental Disability: In the event of disability due to accident which is established 180 days following the date of the event, the life insured will get paid a percentage of rider sum assured, based on the description of bodily injury.
ABSLI Critical Illness Rider:
This rider provides an additional cover to protect you from costs of medication of 4 major illnesses
This rider covers 4 major illnesses:
- First Heart Attack of specified severity
- Cancer of Specified Severity
- Stroke Resulting In Permanent Symptoms
- Major Organ / Bone Marrow Transplant
In the unfortunate event that the life insured is diagnosed to be suffering from any one of the above 4 critical illnesses, he/ she would get paid 100% of the rider sum assured as a lumpsum on survival of 30 days following the date of confirmed diagnosis
ABSLI Surgical Care Rider:
This rider provides an additional cover to protect you from the high costs of surgeries
If the life insured is hospitalized for undergoing a medically necessary surgery in India for a minimum period of 24 hours and actually undergoes that surgery, a lump sum benefit will be paid. You can choose your benefit amount from Rs 3000 to Rs 30,000. The rider sum assured with be 50 times this benefit amount.
You can claim up to 10 times the chosen benefit amount in one policy year and upto 50 times the chosen benefit amount in the entire policy term.
ABSLI Hospital Care Rider:
This rider provides a daily cash benefit in case of hospitalisation for medically necessary treatment of any illness or injury for a minimum period of 24 hours.
Benefits of the Hospital Care Rider are:
- Hospital Cash Benefit
- ICU Benefit
- Recuperating Benefit
The life insured can claim 100 times the chosen daily cash benefit amount in one policy year and 250 times the chosen daily cash benefit amount in the entire policy term.
ABSLI Accidental Death Benefit Rider Plus:
This rider offers additional financial security at a nominal cost to the life insured’s family in the event of their untimely accidental death.
What is the criteria to apply for a DigiShield Plan?
Here’s the eligibility criterion,
|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)
Anybody meeting this criterion can apply for a DigiShield plan.
|Entry Age||35 years||Annual Premium (in Rs.)||8,331|
|Gender||Male||Premium Paying Term||Regular Pay|
|Policy Term||10 years||Pay Frequency||Annual|
|Sum Assured||Rs 1,00,00,000||Plan Option||Level|
|Policy Year||Premium Paid (in Rs.)||Death Benefit (in Rs.)|
Premiums are inclusive of GST and any applicable taxes
How does one apply for a DigiShield Plan?
It only takes 3 simple steps to get the plan.
Step 1: Choose your Sum Assured and Plan Option
Step 2: Choose your Policy Term and Premium Paying Term
Step 3: Fill application form and pay premiums
The ABSLI DigiShield Plan gives your family the financial independence and security that you have always aimed for in your absence.
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. An extra premium may be charged as per our then existing underwriting guidelines for substandard lives, smokers or people having hazardous occupations etc. For more details on risk factors, terms & conditions, please read the brochure carefully before concluding the sale. For detailed terms & conditions 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.
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