Term Life Insurance provides financial protection to your family or dependents for a specified period in the event of the policyholder’s untimely death. It ensures that your loved ones are financially secure and can maintain their standard of living, cover debts, or meet future obligations without financial strain.
 

Why Buy ABSLI Super Term Plan Today?

You’ve always put your family first, doing everything you can to give them a comfortable and secure life. Now, take that commitment further with the ABSLI Super Term Plan – a simple, flexible, and reliable protection plan designed to provide financial security to your family.

• Choose from 3 plan options: Level Cover | Increasing Cover | Level Cover with Return of Premium
• Special 10% Discount on First-Year Premium for Salaried Customers and Female Lives.
• Option to defer premiums by up to 12 months with Cover Continuance Benefit
• Health Management Services Worth ? 74000
• 100% return of premium

Death Benefit

In case of death of the Life Insured during the Policy Term, Death Benefit will be paid to the Nominee as per the Plan Option chosen (as explained in the below-mentioned section). 

For Plan Option 1, 2 & 3: Death Benefit will be the Sum Assured on Death payable as Lumpsum, Income or Income plus Lumpsum depending upon the death benefit payout option chosen at inception.

Sum Assured on Death is highest of:

• 11 times the Annualized premium 
• 105% of the Total Premiums Paid as on the date of death
• The Absolute amount assured to be paid on death

Where,

• Annualized premium shall be the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. Any extra premium on account of ACI Benefit, if any, is also excluded. Any discount on the first year premium, is also excluded.
• Total Premiums Paid means total of all the premiums received, excluding any underwriting extra premiums, any loadings for modal premiums, any rider premium and taxes. Any extra premium on account of ACI Benefit if any, is also excluded. Any discount on the first year premium if any, is also excluded.
• The Absolute amount assured to be paid on death is the Effective Sum Assured as on the date of death. The Effective Sum Assured changes to reflect any change in Sum Assured arising from the exercise of the Enhanced Life Stage Protection option, if any. The Effective Sum Assured is:

• For Option 1 (Level Cover), the Sum Assured chosen at inception.  

• For Option 2 (Increasing Cover), the Sum Assured at inception increases at 5% per annum simple at each policy anniversary subject to a cap of 200% of the Sum Assured at inception.

• For Option 3 (Level Cover with Return of Premium), the Sum Assured chosen at inception.

Terminal Illness Benefit

In the event of the Life Insured, aged up to 80 years, being diagnosed with a Terminal Illness during the term of the policy, provided the policy is in-force, the Terminal Illness Benefit shall be payable in lump-sum and all future premiums shall be waived off. The Terminal Illness Benefit is 50% of the Sum Assured on death as applicable at the time of diagnosis of Terminal Illness, or Rs. 1,00,00,000, whichever is lower. Where a Terminal Illness claim has been paid, in the event of 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 previously paid. Terminal Illness Benefit shall only be payable on the first diagnosis of any Terminal Illness of the Life Insured during the policy term. The Terminal Illness benefit is inbuilt into the policy and will be available to all policies.

Waiver of Premium on Accidental Total and Permanent Disability (ATPD)

In the event of the Life Insured, aged up to 70 years, resulting in Total and Permanent Disability caused by an accident (a sudden unforeseen and involuntary event caused by external and visible means) during the term of the policy, provided the policy is in-force, the future premiums shall be waived off. The Waiver of Premium on Accidental Total and Permanent Disability is inbuilt into the policy and will be available to all eligible policies.

Accelerated Critical Illness (ACI) Benefit

Under this option, Accelerated Critical Illness (ACI) benefit is payable on the diagnosis of any of the critical illnesses, as mentioned in the table below, during the ACI Benefit Cover Period, provided the Policy is in-force and meets the required ACI terms and conditions. This option needs to be chosen at the inception of the policy

Once the ACI Sum Assured is paid on the first occurrence of any of the specified critical illness during the ACI Term, the ACI benefit will terminate.

Policyholder will need to choose the ACI Sum Assured in steps of Rs. 5 lacs subject to boundary conditions as mentioned below:

Staggered Death Benefit

The nominee has an option to take the amount of Death Benefit in monthly installments, over a period of 5 years as opposed to the lumpsum death benefit. This can be availed for both Lumpsum and Income plus Lumpsum death benefit payout options

The instalment is determined such that its present value is close to the lump-sum death benefit at an interest rate of 4.50% p.a. Given that the pricing interest rate reflects the prevailing market conditions, the Company may revise the instalment, subject to prior IRDAI approval, based on the then prevailing market conditions. Any change in the methodology/formula for calculating the instalment shall also be subject to IRDAI approval.

Commutation of Income Benefit

If the policyholder has opted death benefit payout option as Income or Income plus Lumpsum, and if the nominee at any time during the Income Benefit Period would like to get a lumpsum instead of the monthly instalments, the commuted value of the outstanding benefits shall be paid as a lump sum.

Monthly commutation factors are provided on the company website (www.lifeinsurance.adityabirlacapital.com).

where,

The Commutation Factors, represent the discounted value of future benefits at the time of commutation. The factors supplied have been determined using a discount rate of 8.5%. Any change in the methodology/formula for calculating the factors shall be subject to IRDAI approval.

What's Not Covered Under ABSLI Super Term Plan?

Suicide

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 3) or Unexpired Risk Premium Value (for Plan Options 1 & 2) available as on the date of death, whichever is higher to the nominee or beneficiary of the policyholder, provided the policy is in force.

For this purpose, premiums considered will be exclusive of applicable taxes as the same are collected over and above the premiums as per prevailing tax rules.

Terminal Illness Benefit Exclusion

The Life Insured will not be entitled to any Terminal Illness benefit if it is caused directly or indirectly due to or occasioned, accelerated or aggravated by intentional self-inflicted injury or attempted suicide, whether medically sane or insane.

What Is ABSLI Income Suraksha Plan?

ABSLI Income Suraksha Plan is a term plan designed to provide financial protection to your family and help you live worry free.. This term plan comes with a promise of monthly incomes to your family in your absence that helps them live the life of their dreams without financial worries.

Customize your protection by choosing from two plan options

Shield your family from inflation with increasing income under Increasing Income Protection Option

Flexibility to opt for Limited or Regular Premium Payment Term

Enhance your insurance with appropriate rider options, on payment of additional premium

Term Plan With Riders Offer Added Protection

You can enhance your insurance coverage during the Policy Term by adding following riders for a nominal extra cost. You can only opt for either ABSLI Accidental Death and Disability Rider or ABSLI Accidental Death Benefit Rider Plus. Please refer to detailed prospectus on riders, consult your financial advisor or visit our website for further details.

What Is ABSLI Salaried Term Plan?

ABSLI Salaried Term Plan is an exclusive comprehensive protection solution designed for Salaried individuals. It gives you the freedom to design your own plan that suits your protection needs. This plan offers the flexibility of a Lumpsum Cover & Monthly Income Cover options. Be it education, lifestyle, or day-to-day needs, this pure risk term plan is crafted to provide unwavering financial support, allowing your family to stride confidently into the future, even when you're not there!

• Diverse array of 4 Plan Options to match your varied protection requirements.
• Life insurance coverage spanning upto Age 75, offering holistic financial security
• Versatile options for Death Benefit payouts to choose for: Lump-Sum or Monthly Income
• Additional Protection With Inbuilt Terminal Illness Benefit
• Accelerated payout in case life insured is diagnosed with any of the 42 specified critical illnesses by choosing Accelerated Critical Illness Benefit.

Plan Options

You shall choose one Plan Option at the inception of the Policy. The option once selected cannot be changed at a later date. Premium payable will vary depending upon the Option chosen.

Term Plan With Riders Offer Added Protection

You can enhance your insurance coverage during the Policy Term by adding following riders for a nominal extra cost. You can only opt for either ABSLI Accidental Death and Disability Rider or ABSLI Accidental Death Benefit Rider Plus. Please refer to detailed prospectus on riders, consult your financial advisor or visit our website for further details.

Why Buy ABSLI DigiShield Plan?

No matter if you are a parent, newly married, young individual, or have a house loan to repay; ABSLI DigiShield Plan term insurance provides financial security to your loved ones from uncertainties of life with its 10 plan options.

• Not 1 but 10 plan options to choose from. Opting for the most suitable option based on coverage needs has never been so easy.
• This Comprehensive Term Insurance Plan covers policyholders till 100 years of age.
• Flexible death benefit payouts as a monthly, lump sum or both.
• Option to avail monthly income for a worry-free retired life. Survival benefit for policyholders to ensure financial security after 60 years of age.

Term Plan Without Riders Is Like having Tea Without Snacks.

Riders offer additional benefits that are not included in the base policy at a nominal additional premium. There are exclusions attached to the riders. Please refer rider prospectus for more details

What Is ABSLI Poorna Suraksha Kawach?

ABSLI Poorna Suraksha Kawach is a complete and comprehensive protection solution, specifically designed to fulfil your financial requirements and secure your family’s future in the face of uncertainties. In a world full of uncertainties, what remains constant is your desire to shield your loved ones from any contingencies. You strive to accommodate all the necessities of your family and look after their sense of well-being, happiness, and security. ABSLI Poorna Suraksha Kawach gives complete protection for your family`s financial future with multiple plan options to choose from.

• Multiple plan options
• Inbuilt Terminal Illness Benefit
• Accelerated Critical Illness Benefit against 42 listed Critical Illnesses.
• Option to avail a ‘One time exit value’ for emergencies

Term Plan With Riders offer Added Protection

You can enhance your insurance coverage during the Policy Term by adding following riders for a nominal extra cost. For more details on riders, please refer to the product and rider prospectus on the website.

ABSLI Insta Digi Term Plan

Explore premium options starting at just Rs. 12 per day*
Future- Proof your family’s financial security with us
ABSLI Insta Digi Term Plan A Non- linked Non-participating Individual Life Pure Risk Premium Term Insurance Plan

• Unbeatable Premium Rates Discover our affordable premium offers. Tailored coverage options are available to help meet diverse needs!
• Hassle-Free Digital Onboarding Experience a seamless, 100% digital onboarding process. Benefit from a quick policy issuance that prioritizes ease and convenience!
• Effortless Coverage Enjoy hassle-free coverage with no need for documents or medical exams. Insurance made easy, so you can focus on what truly matters!

How to choose your plan

ABSLI Insta Digi Term Plan is a streamlined product with a 100% digital onboarding and issuance process, providing hassle-free experience.
Sum Assured, Premium Payment Term, Policy Term and mode of premium payment chosen at inception cannot be changed thereafter. Premium will vary depending upon the Options chosen at inception

What is ABSLI Saral Jeevan Bima?

ABSLI Saral Jeevan Bima is a simple term life insurance policy. It offers financial assistance to the family in case of the demise of the policyholder within the policy term.
If you are a first-time life insurance buyer and your goal is to ensure financial protection for your family with a simple insurance policy, then ABSLI Saral Jeevan Bima is a good option for you. The simplicity and the affordability of this policy make it convenient for everyone.

• Simple and affordable plan to meet your financial security goals
• Flexibility to choose the policy term from 5-40 years
• Flexible premium payment: one time, for a limited period, or throughout the policy term, you can choose how you want to pay the premium as per your convenience.
• Flexibility to choose sum assured as per your protection needs.
• Customizable benefit with ABSLI Accidental Death Benefit Rider Plus at a nominal extra cost.
• This policy has a short waiting period of just 45 days from inception.

Riders offer additional benefits that are not included in the base policy at a nominal additional premium. There are exclusions attached to the rider. Please refer prospectus for more details