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 ones in the policy with Joint Life Protection option.
• Additional protection through multiple Riders

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 instalments 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.

Please refer product brochure for definition of the listed critical illnesses.

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. Policyholders 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:

• 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 policy will be terminated at the earliest of:

• 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.

Policyholder will have the right to return the Policy to us within 15 days (30 days in case of electronic Policy or the Policy issued under the provisions of IRDAI Guidelines on Distance Marketing of Insurance products) from the date of receipt of the Policy. We will refund the premium paid once we receive your written notice of cancellation (along with reasons thereof) together with the original Policy documents. We will deduct 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 Interest) Regulations, 2017.