Plan Options
Plan Option 1: Level Cover Option
Under this option, In the unfortunate event of the death of the Life Insured during the Policy Term, Nominee will be paid an absolute amount, equal to Sum Assured on Death, in lump-sum.
Plan Option 2: Increasing Cover Option
Under this option the Sum Assured will increase every year during the Policy Term by 5% or 10% per annum depending on the Sum Assured Escalation Rate selected by the Policyholder at inception. In the unfortunate event of the death of the Life Insured during the Policy Term, the nominee will be paid an absolute amount, in lump-sum. Sum Assured Escalation Rate can either be 5% p.a. (simple) or 10% p.a. (simple).
Plan Option 3: Sum Assured Reduction Option
Under this option Policyholder will have an option to reduce the chosen Sum Assured by 50% or 25% on attainment of Retirement Age as 60 years, 65 years, 70 years or 75 years selected by the Policyholder at inception. On exercising this option, Policy will continue with the reduced Sum Assured till the end of Policy Term. In the unfortunate event of the death of the Life Insured during the Policy Term, the nominee will be paid an absolute amount, in lump-sum.
Plan Option 4: Whole Life Option (Level Cover)
Under this option life cover will be till 100 years of Age. In the unfortunate event of the death of the Life Insured during the Policy Term, Nominee will be paid an absolute amount, equal to Sum Assured on Death, in lump-sum.
Plan Option 5: Whole Life Option (Sum Assured Reduction Cover)
Under this option life cover will be till 100 years of Age and Policyholder will have an option to reduce the chosen Sum Assured Factor of 50% or 25% on attainment of Retirement Age as 60 years, 65 years, 70 years or 75 years selected by the Policyholder at inception. On exercising this option, the Policy will continue with the reduced Sum Assured till the end of Policy Term. In the unfortunate event of the death of the Life Insured during the Policy Term, the nominee will be paid an absolute
amount, in lump-sum.
Plan Option 6: Income Benefit
Under this option, In the unfortunate event of the death of the Life Insured during the Policy Term, the nominee will be paid monthly income, equal to 1.25% of Sum Assured, during the chosen Income Benefit Period of 10 years, 15 years or 20 years. Policyholder will have the choice at inception, to receive Increasing Monthly Income, wherein the monthly income will increase by simple 5% p.a. during the chosen Income Benefit Period.
Plan Option 7: Level Cover plus Income Benefit
Under this option, in the unfortunate event of the death of the Life Insured during the Policy Term, the nominee will be paid Sum Assured in lump sum immediately on the date of death of the Life Insured; plus Level Monthly Income paid over 10 years as 0.5% of Sum Assured, for a period of 10 years.
Plan Option 8: Low Cover Option
Under this option, on death, the nominee will be paid an absolute amount, equal to Sum Assured on Death, in lump sum.
Plan Option 9: Level Cover with Survival Benefit
Under this option, on survival of Life Insured till the policy anniversary falling after the attained age of 60 years, a Survival Benefit equal to 0.12% of Sum Assured, will be paid every month till the end of the Policy Term. In the unfortunate event of the death of the Life Insured during the Policy Term, the nominee will be paid an absolute amount in lump-sum. The absolute amount is the Sum Assured less the Survival Benefit already paid.
Plan Option 10: Return of Premium (ROP)
Under this option, on survival of Life Insured at the end of the Policy term, the total premiums, as defined under Maturity Benefit, will be paid to the Policyholder. In the unfortunate event of the death of the Life Insured during the Policy Term, the nominee will be paid an absolute amount in lump sum.
Eligibility Criteria
Entry Age (age last birthday)
For Plan Option : 1|2|3|6|7|8|10: 18 to 65 years
For Plan Option : 4|5: 45 to 65 years
For Plan Option : 9: 18 to 50 years
Maximum Maturity Age
For Plan Option : 1|2|3|6|7|9|10: 85 years
For Plan Option : 4|5: 100 years
For Plan Option : 8: 69 years
• Premium Paying Term
| Plan Options |
Plan Options |
| Plan Option # 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 Option # 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 |
| Policy Term |
| Plan Options |
Premium Paying Term |
Minimum Policy Term |
Maximum Paying Term |
| Plan Option # 1, 2, 6 & 7 |
Single Pay |
5 years |
55 years |
| Limited Pay |
(PPT + 5) years |
| Regular Pay |
10 years |
| Plan Option # 3 |
Single Pay & 5 Pay |
11 years |
55 years |
| Limited Pay |
(PPT + 5) years |
| Regular Pay |
11 years |
| Plan Option # 4, 5 |
Single Pay |
100 minus Entry Age |
100 minus Entry Age |
| 5 Pay |
| Plan Option # 8 |
Single Pay |
1 year |
4 years |
| Regular Pay |
| Plan Option # 9 |
Single Pay |
70 minus Entry Age |
55 years |
| Limited Pay |
| Plan Option # 10 |
Regular Pay |
10 years |
55 years |
Sum Assured
For Plan Option: 1|2|6|7|3|4|5|9|10
Minimum – Rs. 30 Lakh
Maximum – No Limit, subject to Board Approved Guidelines
For Plan Option: 8
Minimum – Rs. 1 Lakh
Maximum – Rs. 20 lakh
Key Features of ABSLI DigiShield Plan
It is a pure term insurance plan providing financial security to the family of the life insured in his absence, it’s Key Features include:
- 10 Plan Options to suit your varied protection need;
- Flexibility to choose term cover as per the need – coverage up to 100 years 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
Coverage Description
Death benefit
In case of unfortunate demise of the Life Insured during the Policy Term, Death Benefit will be paid to the Nominee(s)/legal heir(s) as per the Plan Option chosen by Policyholder.
For Plan Option 1, or 2 or 3 or 4 or 5 or 8 or 9 or 10: Death Benefit will be the Sum Assured on Death payable in lump sum.
For Plan Option 6: Death Benefit will be payable in monthly instalments as 1.25% of Sum Assured during the Income Benefit Term. If Policyholder has chosen Increasing Monthly Income the monthly instalments will increase by 5% simple each year throughout the Income Benefit Term
For Plan Option 7: Death Benefit will be payable as Sum Assured in lump sum paid immediately plus Level monthly income paid over 10 years as 0.5% x Sum Assured, commencing from the first Policy month on or after the date of death.
In case Terminal Illness claim and/or Accelerated Critical Illness (ACI) Benefit claim has been paid, the Death Benefit shall be reduced proportionately to the extent of reduction in Sum Assured on account of Terminal Illness and/or Accelerated Critical Illness (ACI) Benefit already paid.
Where, Sum Assured on Death for a Regular Pay and Limited Pay Policy will be the highest of -
- 11 times of the Annualized Premium; or
- 105% of Total Premiums paid as on the date of death; or
- The Effective Sum Assured as on the date of death
Sum Assured on Death for Single Pay Policy will be the highest of -
- 125% of Single Premium; or
- The Effective Sum Assured as on the date of death
Survival Benefit
This Plan does not offer any survival benefit except if the Plan Option 9 is opted. If Plan Option 9 is chosen, 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 Month Anniversary till the end of the Policy Term or death of the Life Insured whichever is earlier.
Maturity Benefit
This Plan does not offer any maturity benefit except if the Plan Option 10 is opted. If Plan Option 10 has been chosen, the Total Premiums Paid less loadings for modal premiums, if any will be payable at the end of the Policy Term.
Terminal illness benefit
In case you are diagnosed with a Terminal Illness during the Policy Term, up to an age of 80 years, provided 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.
Accelerated Critical Illness (ACI) Benefit
Accelerated Critical Illness (ACI) Sum Assured will be paid on the first diagnosis of any of the specified critical illnesses during the ACI Benefit Cover Period, provided the Policy is in-force and meets the required ACI terms and conditions.
Please refer to product brochure on our website for applicable exclusions on Accelerated Critical Illness Benefit.
Enhanced Life Stage Protection
As your protection need varies at different life stages owing to occurrence of joyous events such as marriage & birth of children. If you have opted for this benefit at Policy inception, you may opt to increase your life cover (Sum Assured) on occurrence of each listed events without undergoing for any fresh medical examination.
| Event |
Enhanced Protection
(% of Sum Assured of the Policy) |
| First Marriage |
50% subject to a maximum of Rs. 50,00,000 |
| Child Birth (Two Children) |
25% subject to a maximum of Rs. 25,00,000 per child |
| House Loan (Once during the Policy Term) |
50%, subject to a maximum increase of Rs. 50,00,000 |
Rider Options
You can enhance your insurance coverage during the Policy Term by adding following riders for a nominal extra cost.
- ABSLI Accidental Death and Disability Rider (UIN: 109B018V03)
- ABSLI Critical Illness Rider (UIN: 109B019V03)
- ABSLI Surgical Care Rider (UIN: 109B015V03)
- ABSLI Hospital Care Rider (UIN: 109B016V03)
- ABSLI Accidental Death Benefit Rider Plus (UIN:109B023V02)
- ABSLI Waiver of Premium (UIN: 109B017V03)
Riders are not available for Joint Life Protection Option and for Plan Option 3 and 5.
You can only opt for either ABSLI Accidental Death and Disability Rider or ABSLI Accidental Death Benefit Rider Plus. There are exclusions attached to the rider, please read rider brochures before concluding sale. Please consult your financial advisor or visit our website for further details.
