Life cover made easy: Hassle-Free Onboarding

There is no Maturity Benefit payable in this plan.

There is no Survival Benefit payable in this plan.

What are the benefits available? As per extant tax laws, this plan offers tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961, subject to fulfillment of the other conditions of the respective sections prescribed therein. Tax benefits are subject to changes in tax laws. You are advised to consult your tax advisor for details

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:

• 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, 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 the following events:
(a) the date of settlement of the Death Benefit; or
(b) the date of payment of the surrender Benefit, if any; or
(c) If the policy has not acquired an Unexpired Risk Premium Value, the date on which the revival period ends; or
(d) the date of maturity of the Policy; or
(e) the date of payment of free look cancellation amount.

In case of death of Life Insured due to suicide within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the amount described in the Death Benefit provision will not be payable. In such circumstances, ABSLI shall refund the premiums paid since date of inception of policy till the date of death or ABSLI shall pay the Surrender Value (for Plan Option 2) or Unexpired Risk Premium Value (for Plan Options 1, 3 & 4) available as on the date of death, whichever is higher to the nominee or beneficiary of the policyholder, provided the policy is in force.
▪ Where the Policy has acquired the Surrender Value/unexpired risk premium value, higher of Surrender Value or (Total Premiums Paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes) till date of death. Aditya Birla Sun Life Insurance Insta Digi Term Plan – Frequently Asked Questions Prepared by Product Management 8 For Internal Circulation only
▪ Where the Policy hasn’t acquired the Surrender value/unexpired risk premium value, Total Premiums Paid plus underwriting extra premiums paid plus loadings for modal premiums paid excluding applicable taxes till date of death.