Think Term Plan. Smart Financial Security For Loved Ones
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10 Plan Options
Buy ₹1 Crore Term Insurance @ ₹575/month1
A quick, simple, stress-free way to assure financial security for the family in case of policyholder’s unfortunate demise.
10 plan options of ABSLI DigiShield Plan. A wide range of options to suit different needs.
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
Use Case 1
Use Case 2
Mr. Sharma, 35 years old opts for ABSLI DigiShield Plan – Level Cover Option for a Sum Assured of Rs. 1 crore.
He chooses a Policy Term of 50 years and Premium Payment Term of 50 years.
Unfortunately, he dies during the 25th Policy year. His Nominee is paid a lump-sum equal to Rs. 1 crore and the Policy terminates.
At the inception of the policy, the policyholder has the freedom to choose the sum assured, policy term, premium payment term, and mode of premium payment. The maximum maturity age allowed is 85 years.
Plan Option |
Premium Paying Term |
Minimum Policy Term |
Maximum Policy Term |
Entry Age |
Minimum Maturity Age |
Maximum Maturity Age |
| ||
1, 2, 6,7 |
Single Pay |
5 years |
55 years |
18 – 65 years |
23 years |
85 years |
| ||
Limited Pay |
5 Pay |
(PPT + 5) years
|
55 years |
18 – 65 years |
28 years |
85 years |
| ||
7 Pay |
55 years |
18 – 65 years |
30 years |
85 years |
| ||||
10 Pay |
55 years |
18 – 65 years |
33 years |
85 years |
| ||||
12 Pay |
55 years |
18 – 65 years |
35 years |
85 years |
| ||||
15 Pay |
55 years |
18 – 65 years |
38 years |
85 years |
| ||||
20 Pay |
55 years |
18 – 60 years |
43 years |
85 years |
| ||||
To age 60* |
55 years |
18 – 54 years |
65 years |
85 years |
| ||||
Regular Pay |
10 years |
55 years |
18 – 65 years |
28 years |
85 years |
| |||
9 |
Single Pay |
70 - Age at Entry |
55 years |
18 – 50 years |
70 years |
85 years |
| ||
Limited Pay |
5 Pay |
55 years |
18 – 50 years |
85 years |
| ||||
7 Pay |
55 years |
18 – 50 years |
85 years |
| |||||
10 Pay |
55 years |
18 – 50 years |
85 years |
| |||||
12 Pay |
55 years |
18 – 48 years |
85 years |
| |||||
15 Pay |
55 years |
18 – 45 years |
85 years |
| |||||
20 Pay |
55 years |
18 – 40 years |
85 years |
| |||||
To age 60* |
55 years |
18 – 49 years |
85 years |
| |||||
3 |
Single Pay |
11 years |
55 years |
18 – 65 years |
61 years |
85 years |
| ||
Limited Pay |
5 Pay |
11 years |
55 years |
18 – 65 years |
85 years |
| |||
7 Pay |
(PPT + 5) years |
55 years |
18 – 65 years |
85 years |
| ||||
10 Pay |
55 years |
18 – 65 years |
85 years |
| |||||
12 Pay |
55 years |
18 – 65 years |
85 years |
| |||||
15 Pay |
55 years |
18 – 65 years |
85 years |
| |||||
20 Pay |
55 years |
18 – 60 years |
85 years |
| |||||
To age 60* |
55 years |
18 – 54 years |
65 years |
85 years |
| ||||
Regular Pay |
11 years |
55 years |
18 – 65 years |
61 years |
85 years |
| |||
4, 5 |
Single Pay |
100 – Entry Age |
45 – 65 years |
100 years |
100 years | ||||
Limited Pay |
5 Pay |
100 – Entry Age |
45 – 65 years |
100 years | |||||
8 |
Single Pay |
1 year |
4 years |
18 – 65 years |
19 years |
69 years |
| ||
Regular Pay |
1 year |
4 years |
18 – 65 years |
69 years |
| ||||
10 |
Regular Pay |
10 years |
55 years |
18 – 65 years |
28 years |
85 years |
|
Do it in less than 5 minutes.
It costs the emotions and courage of a family when the policyholder passes away. But the ABSLI DigiShield Plan does not cover the family in these circumstances.
3 quick steps, everything online.
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.
Depending upon the smoking status of the life insured, he/she will be classified as Non-Smoker or Smoker. The proposed life insured will be classified as Non-Smoker, if he/she has not consumed tobacco products in the last 12 months. This includes any nicotine products like cigarette, cigars, chewable tobacco or any other classified stimulants.
No, Plan Option once chosen at inception; cannot be changed anytime during the Policy Term.
Retirement Age is applicable under Plan Option 3 Sum Assured Reduction Option and Plan Option 5 Whole Life Option (Sum Assured Reduction Cover). Policyholder has the option to select 60 years, 65 years, 70 years or 75 years as Retirement Age at inception, at which the Sum Assured reduces by the chosen Sum Assured Reduction Rate. The Retirement Age should be at least 10 years more than the age of the Life Insured at inception of the policy and less than the maturity age.
Income Benefit Period is applicable under Plan Option 6 Income Benefit, during which the monthly installments are paid to the Nominee after the death of the Life Insured. Policyholder has the option to select 10 years, 15 years or 20 years as Income Benefit Period at inception.
This is inbuilt benefit available under all Plan Options. In case life insured is diagnosed with a Terminal Illness up to an age of 80 years, while the policy is in force, 50% of the applicable Sum Assured on Death, subject to a maximum of Rs. 2 crores will be paid immediately as a lump-sum and future due premiums shall be 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.
Accelerated Critical Illness (ACI) Benefit is an optional benefit, where Policyholder can avail protection against 42 listed critical illness during the ACI Cover Period, on payment of additional premium. On diagnosis of any of the specified critical illnesses, Accelerated Critical Illness (ACI) Sum Assured will be payable to Policyholder, provided the Policy is in-force and meets the required ACI terms and conditions. The ACI Benefit is accelerated and not an additional benefit i.e. Policy will continue with death cover till maturity after the ACI benefit is paid, provided the Policy is in-force and all premiums are paid in full.
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 |
Joint Life Protection is an optional benefit under which two lives can be covered on joint life basis as Primary Life Insured and Secondary Life Insured under the same policy. The sum assured applicable for the secondary life insured shall be equal to 50% of applicable sum assured for primary life insured. Currently spouse can be covered under Joint Life Option as Secondary Life Insured.
Enhanced Life Stage Protection is an optional benefit which allows Policyholder to increase the Sum Assured on occurrence of events like marriage or birth of children or on availing home loan, without undergoing any fresh medical examination. Policyholder have to opt for this option at inception so it can be exercised by giving a written request to the Company within one year of the occurrence of specified events.
No, since this plan offers choice of avail death benefit in lump sum or income or lump plus income thus Policyholder makes an informed choice while selecting the option to ensure the death benefit is paid to the nominee as required by them, hence there is no option for the Nominee to avail instalment of lump sum death benefit or discounted value of future instalment in lump sum.
For Plan Options 1, 2, 3, 4, 5, 6, 7, 8 and 9: There is no Maturity Benefit payable
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 Options 1, 2, 3, 4, 5, 6, 7, 8, and 10: There is no Survival Benefit payable
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.
If you are unable to pay your policy premium by the due date, you will be given 30-day grace period, to pay your due premiums, during which your coverage will continue. however, In case of occurrence of death or Terminal Illness or critical illness during the grace period, the Company shall be entitled to deduct the unpaid Premium from the Benefits payable under the Policy.
You can revive your Policy within a revival period of five years from the due date of first unpaid premium, subject to following conditions:
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, 2024, 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 policy will be terminated at the earliest of:
You have a free look period of 30 days from the date of receipt of the Policy, to review the terms and conditions of the Policy, in case You disagree with the terms & conditions of Your Policy, you have the option to return the original policy document to us for cancellation. We will refund the premium paid post receipt of written notice of cancellation (along with reasons thereof) together with the original Policy document from Your end. We may reduce the amount of the refund by proportionate risk premium for the period of cover and expenses incurred by us on medical examination, if any and stamp duty charges while issuing Your Policy in accordance with IRDAI (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024.
¹ Scenario for Female, Non Smoker, Age: 21 years, Plan Option: Level Cover, Premium paying Term: Regular pay, Policy Term: 25 years, Pay Frequency: Annual, Premiums are exclusive of GST. (Annual Premium of Rs. 6900/12 months(On Average Rs.575/month) (offline premium)
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 9 (Level Cover with Survival Benefit) and Plan Option 10 (Return of Premium [ROP]) this product shall be a non-linked non-participating individual life savings 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 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. UIN: 109N108V13
ADV/11/24-25/2185
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