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Overview
Aditya Birla Sun Life Insurance (ABSLI) DigiShield Plan is a term insurance plan that offers a lump sum death benefit, multiple plan variants, and flexible premium payment options at affordable rates.
It provides financial protection to your family in case of your sudden demise during the policy term. The policy also offers variant-based benefits such as increasing cover options and payout flexibility, which helps align protection with changing life needs and financial goals.
Key Features
- Inbuilt terminal illness benefit
- Affordable premiums
- Flexible premium paying term
- Tax benefits
- Rider protection
- Multiple options to receive the death benefit
Benefits of ABSLI DigiShield Plan
Death Benefit
Upon the unfortunate demise of the life insured during the policy term, the ABSLI DigiShield Plan offers the death benefit to the nominee, which will be the highest of the following: 10 times the annual premium, 105% of the total premiums paid, or the sum assured as per the policy.
Maturity Benefit
Under maturity benefits, you can receive your total premiums paid back at the end of the policy term.
Tax Benefits
All premiums paid for the ABSLI DigiShield Plan can be used for claiming tax benefits for up to Rs. 1.5 lakhs under Section 80C and for up to Rs. 2.5 lakhs under Section 10(10D) of the Income Tax Act 1961.
Exclusions
- Death due to a pandemic is not covered by the company.
- Death caused by any type of adventure sports.
- Death by consumption of any type of drugs and alcohol.
- Death due to any pre-existing disease that was not mentioned at the start of the policy.
- If the policyholder commits suicide within the first 12 months of purchasing the policy, no death benefits are paid to their nominee. Instead, either the premiums paid to date or the surrender value of the policy, whichever is higher, is paid to them.
