Why Buy ABSLI DigiShield Plan?
Whether you are a parent, newly married, a young individual, or have a home loan to repay, the ABSLI DigiShield Plan offers term insurance that ensures financial security for your loved ones against life’s uncertainties with its 10 distinct plan options.
Key Features
- Multiple Plan Options: Choose from 10 plan options, making it easier to select the most suitable one based on your coverage needs.
- Extended Coverage: This comprehensive term insurance plan offers coverage up to 100 years of age.
- Flexible Death Benefit Payouts: Opt for death benefits to be paid out as a monthly income, a lump sum, or a combination of both.
- Retirement Income Option: Avail a monthly income for a worry-free retired life, with a survival benefit ensuring financial security after 60 years of age.
Brochure | Leaflet | Policy Contract
Benefits of ABSLI DigiShield Plan
This plan provides a quick, simple, and stress-free way to secure your family’s financial future in case of the policyholder’s unfortunate demise.
Plan Options
The ABSLI DigiShield Plan offers 10 plan options, catering to a wide range of needs.
Term Plan Without Riders
Term insurance without riders is like tea without snacks. Riders offer additional benefits not included in the base policy, available at a nominal extra premium. There are exclusions attached to the riders, so please refer to the rider brochure for more details.
How Does the ABSLI DigiShield Plan Work?
Learn with an Example
The ABSLI DigiShield Plan is designed to protect against multiple life needs. Here’s an example:
Use Case 1
Priya, a healthy 35-year-old female working at a multinational company, wanted a term plan that would provide financial support for her son in case of her absence. She opted for the ABSLI DigiShield Plan Level Cover Option with a Sum Assured of ₹1 crore. The policy she chose had a premium paying term and a policy term of 50 years. At the inception of the policy, she had the freedom to choose the sum assured, policy term, premium payment term, and mode of premium payment. The maximum maturity age allowed was 85 years. Priya passed away in the 25th policy year at the age of 60. After her demise, a lump sum of ₹1 crore was paid to her son.
Eligibility Criteria for ABSLI DigiShield Plan
Entry Age (age last birthday)
- For Plan Options 1, 2, 3, 6, 7, 8, 10: 18 to 65 years
- For Plan Options 4, 5: 45 to 65 years
- For Plan Option 9: 18 to 50 years
Maximum Maturity Age
- For Plan Options 1, 2, 3, 6, 7, 9, 10: 85 years
- For Plan Options 4, 5: 100 years
- For Plan Option 8: 69 years
Policy Term
| Plan Options | Premium Payment Term |
|---|---|
| Plan Options 1, 2, 3, 6 & 7 | Single Pay, Limited Pay – 5 Pay, 7 Pay, 10 Pay, 12 Pay, 15 Pay, 20 Pay, To Age 60 years, Regular Pay |
| Plan Options 4, 5 | Single Pay, Limited Pay – 5 Pay |
| Plan Option 8 | Single Pay, Regular Pay |
| Plan Option 9 | Single Pay, Limited Pay – 5 Pay, 7 Pay, 10 Pay, 12 Pay, 15 Pay, 20 Pay, To Age 60 years |
| Plan Option 10 | Regular Pay |
Premium Payment Term
| Plan Options | Premium Payment Term | Minimum Policy Term | Maximum Policy Term |
|---|---|---|---|
| Plan Options 1, 2, 6 & 7 | Single Pay | 5 years | 55 years |
| Plan Option 3 | Single Pay & 5 Pay | 11 years | 55 years |
| Plan Options 4, 5 | Single Pay | 100 minus Entry Age | 5 Pay |
| Plan Option 8 | Single Pay | 1 year | 4 years |
| Plan Option 9 | Single Pay | 70 minus Entry Age | 55 years |
| Plan Option 10 | Regular Pay | 10 years | 55 years |
Sum Assured
- For Plan Options 1, 2, 3, 4, 5, 6, 7, 9, 10
- Minimum: ₹30 lakh
- Maximum: No limit, subject to Board Approved Guidelines
- For Plan Option 8
- Minimum: ₹1 lakh
- Maximum: ₹20 lakh
Things We Can’t Promise Under the ABSLI DigiShield Plan
While the ABSLI DigiShield Plan provides robust coverage, it doesn’t cover certain scenarios, which include:
- Pre-existing Diseases: If the policyholder was diagnosed with pre-existing diseases within 48 months prior to the policy’s effective date, these are not covered.
- Self-Inflicted Injury: No Terminal Illness Benefit will be paid if the policyholder (whether medically sane or insane) suffers from a self-inflicted injury or attempts suicide.
- Critical Illness or Accidental Death: No coverage is provided if the death of the policyholder results from alcohol consumption, hazardous activities, acts of war, or childbirth.
- Lifestyle Diseases: Death due to lifestyle diseases is not covered, as these are considered a choice.
How to Initiate a Claim?
The claim process is simple and can be completed online in three quick steps:
- Fill in basic details.
- Submit the claim intimation.
- Complete the document submission.
More About Claims
ABSLI DigiShield Plan FAQs
We continuously strive to simplify the ABSLI DigiShield Plan!
What Are the Significant Features of the ABSLI DigiShield Plan?
- The ABSLI DigiShield Plan is a term insurance plan that provides essential financial support for the family, especially in the unfortunate event of the policyholder’s demise.
- 10 Plan Options: Tailored to suit varied protection needs.
- Flexible Term Coverage: Choose term coverage based on your specific needs, with coverage available up to 100 years.
- Multiple Payout Options: Ensure financial stability for your dependents with options for lump-sum payments, monthly income, or a combination of both.
- Survival Income: Unique to this plan, receive guaranteed monthly payouts after reaching 60 years of age, ensuring a stress-free retired life.
- Return of Premium (ROP) Option: Get all your premiums back if you outlive the policy term.
- Terminal Illness Benefit: Accelerate the base sum assured upon diagnosis of any terminal illness.
- Accelerated Critical Illness Benefit (ACI): Receive a lump sum payout if diagnosed with any one of the 42 covered critical illnesses.
- Joint Life Protection Option: Include your loved ones in the policy for added peace of mind.
- Additional Protection Through Riders: Enhance your coverage with multiple riders.
For more information, consult the official documentation or customer support.
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