ABSLI DigiShield Plan
Plan Options
10 plan options of ABSLI DigiShield Plan. A wide range of options to suit different needs.
Term Plan without Riders is Like having tea without snacks.
Riders offer additional benefits that are not included in the base policy at a nominal additional premium. There are exclusions attached to the riders. Please refer rider brochure for more details
How does the ABSLI DigiShield Plan work?
Learn with an example. Lead by an example.
Made up your mind
What's not Covered?
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How to initiate Claim?
3 quick steps, everything online.
- Fill basic details
- Claim intimation
- Document submission
Voice of Happy Customers
ABSLI provides various payment option to pay renewal premium, anytime and anywhere.! Best wishes to ABSLI
Mr. Singh
West Bengal
Entire surrender process was quite smooth with timely documentation and payout. Great experience!
Mr. Ganvit
Gujarat
Easy and simplified surrender process with a supportive branch and speedy payout experience!
Mr. Joshi
Maharashtra
Due to seamless branch support and timely communication from ABSLI, my maturity payout process was quite smooth.
Mr. Bansal
Haryana
Renewal payment through ECS has been quite smooth with timely reminders for the same. Great experience!
Mrs. Maheshwari
Madhya Pradesh
ABSLI DigiShield Plan FAQs
We are constantly trying to simplify the ABSLI DigiShield Plan!
ABSLI Digi Shield plan is the term plan-best financial support for the family especially when the policyholder dies.
- 10 Plan Options to suit varied protection need.
- Flexibility to choose term cover as per the need. Coverage up to 100 years is available.
- Ensure financial stability for the dependents in the absence of life insured with multiple payout options - lump-sum, monthly income or a combination of both.
- Unique benefit – Receive Survival Income in a Term Plan – Guaranteed Monthly payouts post attaining Age 60 years for a stress-free retired life.
- Get all your premium back with Return of Premium (ROP) option in case you outlive the policy term.
- Acceleration of base sum assured in the event of diagnosis of any Terminal Illness.
- Acceleration of Critical Illness sum assured through Accelerated Critical Illness Benefit option (ACI) where a lumpsum payout will be made to the life insured on diagnosis of any one of the covered 42 critical illness.
- Include your loved one’s in the policy with Joint Life Protection option.
- Additional protection through multiple Riders
Sr. No | List of Critical Illnesses |
1 | Cancer of Specified Severity |
2 | Myocardial Infarction (First Heart Attack of Specific Severity) |
3 | Open Chest CABG |
4 | Open Heart Replacement or Repair of Heart Valves |
5 | Coma of Specified Severity |
6 | Kidney Failure Requiring Regular Dialysis |
7 | Stroke Resulting in Permanent Symptoms |
8 | Major Organ /Bone Marrow Transplant |
9 | Permanent Paralysis of Limbs |
10 | Motor Neuron Disease with Permanent Symptoms |
11 | Multiple Sclerosis with Persisting Symptoms |
12 | Benign Brain Tumor |
13 | Blindness |
14 | Deafness |
15 | End Stage Lung Failure |
16 | End Stage Liver Failure |
17 | Loss of Speech |
18 | Loss of Limbs |
19 | Major Head Trauma |
20 | Primary (Idiopathic) Pulmonary Hypertension |
21 | Third Degree Burns |
22 | Alzheimer's Disease |
23 | Aplastic Anaemia |
24 | Medullary Cystic Disease |
25 | Parkinson's Disease |
26 | Systemic Lupus Erythematosus - with Lupus Nephritis |
27 | Apallic Syndrome |
28 | Major Surgery of the Aorta |
29 | Fulminant Viral Hepatitis - resulting in acute liver failure |
30 | Primary Cardiomyopathy |
31 | Muscular Dystrophy - resulting in permanent loss of physical abilities |
32 | Poliomyelitis - resulting in paralysis |
33 | Sporadic Creutzfeldt-Jakob Disease (sCJD) |
34 | Chronic Recurring Pancreatitis |
35 | Bacterial Meningitis - resulting in persistent symptoms |
36 | Chronic Adrenocortical Insufficiency (Addison's Disease) |
37 | Loss of Independent Existence |
38 | Encephalitis |
39 | Progressive supranuclear palsy |
40 | Severe Rheumatoid arthritis |
41 | Scleroderma |
42 | Systematic lupus Erythematosus with Renal Involvement |
Please refer product brochure for definition of the listed critical illnesses.
For Plan Option 10: On survival of Life Insured till end of Policy Term, Maturity Benefit is payable as Total Premiums Paid less loadings for modal premiums, if any.
For Plan Option 9: In the event the Life Insured survives till the Policy anniversary falling after the Life Insured attains an age of 60 years, Survival Benefit of 0.12% of Sum Assured per month is paid commencing with the first Policy Month Anniversary after the event and continuing for each Policy Moth Anniversary till the end of the Policy Term or death of the Life Insured whichever is earlier.
- Paying all outstanding premiums together with interest and/or late fees as declared by us from time to time;
- Providing evidence of Life Insured’s insurability satisfactory to us
- Revival of the Policy shall take effect only after revival of the Policy is approved by Us basis the Board approved underwriting Policy and communicated to you in writing.
- Once the Policy has been revived, on the effective date of revival, all benefits will be restored to their full value.
The monthly interest rate charged on unpaid premiums will be declared by ABSLI on June 1st of each calendar year and is determined as (x+1%)/12 rounded to the next 0.5%, where x is the base rate of the State Bank of India. The current applicable interest rate, as declared on June 1st, 2021, is 1% per month compounded annually.
Any change in basis of determination of interest rate for revival can be done only after prior approval of the Authority. If a lapsed Policy is not revived within five years, the Policy shall be terminated, and no value is payable to you.
- The date of settlement of the Death Benefit or the date of settlement of death benefit on last surviving life in case of Joint Life Protection option; or
- The date of payment of the surrender value, if any; or
- If the Policy has not acquired a surrender value, the date on which the revival period ends
- The date of maturity of the Policy; or
- The date on which the sum assured on death has completely been paid out through ACI Benefit and/ or Terminal Illness claim.
- The date on which we receive a free look cancellation request.
Other Insurance Plans
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Disclaimer
ABSLI Nishchit Aayush Plan. This is a non-linked non-participating individual savings life insurance plan. UIN No 109N137V06
^ - Provided 0 year deferment & monthly income frequency is chosen at the time of inception of the policy.
~ Male- 25 yrs invests in ABSLI Nishchit Aayush Plan with Level Income + Lumpsum Benefit. He chooses premium payment term 10 yrs , policy term 40 years, benefit option -Long Term Income, Sum Assured 7 times of Annualized Premium and Deferment Period 0 years. Annualized Premium is ₹1,20,000 (Exclusive of GST.). Annual Income of ₹45,900 (45,900*40=18,36,000) + Maturity Benefit (₹16,80,000)= ₹35,16,000
How does Monthly Income Plan work?
Riders
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ABSLI Waiver of Premium Rider (UIN: 109B017V03)
All future premiums waived in case of permanent disability due to illness or accident, any of the specified critical illnesses or death.
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ABSLI Critical Illness Rider (UIN: 109B019V03)
Get benefit amount as a lumpsum upon diagnosis of any of the 4 specified critical illnesses.
Monthly Income Plan FAQs
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What is the main benefit of this plan?
The main benefit of the ABSLI Monthly Income Plan is the income benefit.
After completion of the Deferment Period, you shall start receiving monthly income benefit in advance as a percentage of the sum assured over the Income Benefit Period as per the option chosen at inception.
Also, there is an inbuilt Accidental Death Benefit offered in this plan. In the event of death of the Life Insured due to an accident, additional benefit equal to the Sum Assured chosen will be paid immediately in lump sum to the nominee as an Accidental Death Benefit.
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How much income is assured and on what basis?
You may choose one of the following Income Benefit Option at the inception of this monthly income policy:
- Level Income Benefit - Under this option, the income benefit paid will be 1% of the Sum Assured per month and will remain fixed throughout the Income Benefit Period (IBP).
- Increasing Income Benefit - Under this option, the income benefit paid will start at 1% of the Sum Assured per month and then such amount of income benefit will increase at 5% per annum simple, every 12 months during the Income Benefit Period (IBP).
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Is the receivable income taxable?
As per extant tax laws, tax benefits may be eligible under Section 80C, 80(D) and Section 10(10D) of the Income Tax Act, 1961, subject to fulfillment of the other conditions of the respective sections prescribed therein. Tax laws are subject to amendments from time to time.
As per the current provision of Section 194DA of the Act; the policy proceeds are subject to TDS if conditions prescribed under Section 10(10D) are not met.
You are advised to consult your tax advisor for applicability of tax benefits on premiums paid and benefits received.
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Can I increase my monthly receivable income afterwards?
No, Income Benefit Option- Level or Increasing Income Benefit needs to be chosen at inception.
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Can I make a lump sum premium payment for this plan?
The premium paying term is 10/12 years. You can choose between annual, semi-annual, quarterly & monthly modes for making premium payment.
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What is Annualized Premium?
*Annualized Premium shall be the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any.
Disclaimer:
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a participating non-linked life insurance plan. All terms & conditions are guaranteed throughout the policy term, except for the bonuses which would be declared at the end of each financial year. Some benefits are guaranteed and some benefits are variable with bonuses based on the future performance of the participating business and economic conditions.. Goods and Service Tax (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 sub-standard lives, smokers or people having hazardous occupations etc. For more details on risk factors, terms and conditions, please read the sales brochure carefully 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 and see how we can help in making your dreams come true. Aditya Birla Sun Life Insurance Company Limited Reg. Office: One World Center Tower 1, 16th Floor, Jupiter Mill Compound, 841 Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI Reg No. 109 Call Centre: 1-800-270-7000 www.adityabirlasunlifeinsurance.com CIN: U99999MH2000PLC128110 UIN: 109N122V02
ADV/9/20-21/1153