Aditya Birla Sun Life Insurance DigiShield Plan (ABSLI DigiShield Plan)

ABSLI DigiShield Plan is a comprehensive term insurance cover designed to singularly protect the policyholder’s family from the uncertainties of life. It is a pure risk insurance plan that secures the family’s financial future, even when the policyholder is no more. As is the norm for term insurance, the ABSLI DigiShield Plan provides a large sum assured against a nominal premium with a solution that ensures the family’s financial future free from worries to pursue their aspirations unhindered.

Salient features of ABSLI DigiShield Plan

The features that make ABSLI DigiShield Plan one of the most popular term insurance solutions are the flexible options to tailor the policy to suit various protection needs and individual preferences. Anyone between the ages of one year to hundred years is eligible for the cover, with such innovative benefits like multiple death payout in lump sum or installments and an in-built terminal illness benefit. Let us check out the plan contours in some detail:

Parameters

Particulars

Plan Options

Premium

Minimum

Maximum

Policy Tenure

1, 2, 6, and 7

Single

5 years

55 years

Limited

PPT + 5 years

Regular

10 years

3

Single + 5 pay

11 years

55 years

Limited

PPT + 5 years

Regular

11 years

4 and 5

Single

100 minus entry age

5 pay

8

Single

1 year

4 years

Regular

9

Single

70 minus entry age

55 years

Regular

10

Regular

10 years

55 years

Premium Paying Term

1, 2, 3, 6, and 7

Single

Limited

5, 7, 10, 12, 15, and 20 pay up to 60 years

Regular

4 and 5

Single

Limited minus 5

Regular

8

Single

Regular

9

Single

 

Limited

5, 7, 10, 12, 15, and 20 pay up to 60 years

10

Regular

Sum Assured

1, 2, 3, 4, 5, 6, 7, 9, and 10

Rs. 30 lacs

No limit

8

Rs. 1 lac

Rs. 20 lacs

Premium Payment Frequency

Single-Premium

Limited and Regular Premium: Yearly, Half-yearly, Quarterly, and Monthly

Loan Facility

No Loan facility is available under the plan

Core Benefits of ABSLU DigiShield

The ABSLI DigiShield Plan offers an array of plan options to suit every preference and to tailor the plan according to individual family needs:

Option Number

Option Name

Features

1

Level Cover

The death sum assured is paid to lump sum.

2

Increasing Cover

The sum assured increases every policy anniversary

3

SA Reduction

The chosen sum assured reduces post defined Retirement Age

4

Whole Life – Level Cover

Coverage  until 100 years of age and the death benefit is paid in a lump sum

5

Whole Life – SA Reduction Cover

Coverage  until 100 years of age and the chosen sum assured reduces post defined Retirement Age

6

Income Benefit

The death benefit is paid in monthly installments

7

Level Cover plus Income Benefit

The death benefit is paid in a combination of Lump sum and installments spread of 10 years

8

Low Cover

The coverage is limited, and the death benefit is paid in a lump sum

9

Level cover with Survival

The plan offers dual benefits after attaining 60 years of age, paying survival benefits till maturity. The death benefits are paid in a lump sum minus the paid survival benefit.  

10

Return of Premium

If the policyholder survives the policy term, the cumulative total of premium paid is returned as Maturity Benefit.

Death Benefit

It is the amount payable to the nominee or the assignee, as the case may, upon the policyholder’s unfortunate demise during the policy term, provided all the premiums are paid, and the policy is live. The payable quantum and the mode are determined by the plan option chosen at inception.

Tax Benefits

Life insurance policies are covered for tax obligations under the Income Tax Act, 1961. The total amount for the premium paid in a financial year is tax-exempt under Section 80 C, while the death and maturity benefit is tax-exempt under Section 10 (10D).

Premium Illustration

We have already seen the premium payment options in the ABSLI DigiShield Plan are very flexible. Accordingly, the policyholder has the option to pay the premium as Single, Limited, or Regular. Further, the regular premium is paid in annual, semi-annual, quarterly, or monthly installments. The amount of premium payable depends on the plan option chosen at inception.

Accordingly, a 35 years old non-smoker policyholder with a sum assured of Rs.1 cr and policy term and PPT of 80 years minus the entry age will pay the following illustrative annualized regular pay premium.

  • Option 1: Rs.16400
  • Option 2: Rs.50000
  • Option 3: Rs.15908
  • Option 6: Rs.40200
  • Option 7: Rs.24600
  • Option 8: Rs.10560
  • Option 9: Rs.71500 (15 pay)
  • Option 10: Rs. 24700

The policyholder must consult the sales brochure for options 4 and 5 as the features are widely varying from the above.

Additional Riders

The ABSLI DigiShield Plan offers many riders to help the policyholder customize the plan according to the family’s specific needs to ensure a comfortable financial future when he is not around. The riders are chosen at policy inception against an additional premium. Some of the riders are:

  • Critical Illness
  • Surgical Care
  • Hospital Care
  • ADB (Accidental Death Benefit)
  • ADD (Accidental Death and Disability)
  • Premium Waiver

Eligibility Criteria of ABSLI DigiShield Plan

The ABSLI DigiShield Plan eligibility norms are varied depending on the chosen plan option. it is an individual pure risk insurance product open for purchase by male, female, or transgender. The other norms are:

Parameters

Particulars

Plan Options

Premium

Minimum

Maximum

Entry Age

1, 2,3, 6, 7, 8, and 10

18 years

65 years

4, and 5

45 years

65 years

9

18 years

50 years

Maturity Age

1, 2,3, 6, 7, 9, and 10

85 years

4 and 5

100 years

8

69 years

What are the Documents required to Buy ABSLI DigiShield?

The documents required to buy the ABSLI DigiShield Plan are an only indicative standard requirement. The insurer may ask for additional documents if warranted. Only copies of the officially valid documents (OVD) are accepted. The following documents are mandatory.

  • Proposal form
  • Identity proof
  • Date of birth proof
  • Address proof
  • Recent photographs
  • Bank account details

How to buy the ABSLI DigiShield Plan online?

The most convenient way to purchase the ABSLI DigiShield Plan is online at the insurer portal or the aggregator’s site facilitating the purchase. At the insurer portal, the purchase is a four-step affair as under:

Step 1: Invoke the buy online option to enter basic personal details and smoking status on the opening page. Tick the agree button to proceed.

Step 2: The second page is where the policyholder must enter all the financial parameters and select the rider to get a premium quote depending on the chosen premium frequency.

Step 3: On clicking on the ‘Proceed’ button, a new page opens for entering the detailed personal information to complete the proposal form. The final page opens upon invoking the ‘Continue to Register and Payment’ button.

Step 4: Upload the requisite documents and pay the premium online at the safe gateway by choosing the convenient option to complete the purchase process

Key Exclusions of Aditya Birla Sun Life Insurance DigiShield Plan

It is essential to learn about the exclusions in the ABSLI DigiShield Plan to ensure a seamless claim experience as and when the need arises. Accordingly, the primary exclusions are described below. It is sensible to check the policy document for a detailed exclusion list.

Suicide Clause: This clause comes into play if the policyholder commits suicide within twelve months of policy inception. Total paid premium and the acquired surrender value, whichever is higher, are paid to the beneficiary.

  • Terminal Illness: If the illness is caused by any self-inflicted injury or attempted suicide.
  • Critical Illness: The rider covers 42 listed critical illnesses subject to the following conditions:
  • Any pre-existing disease existing 48 months prior to the effective policy date:
    • Any disease with the first 90 days from the policy inception date.
    • Many other reasons for medical conditions directly or impacting the diagnosis of any of the listed critical illnesses.

FAQs

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

**Tax benefit is subject to changes in tax laws. Standard T&C apply.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 32 Reviews)
Aditya Birla Sun Life Insurance DigiShield Plan (ABSLI DigiShield Plan)
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Aditya Birla Sun Life Insurance DigiShield Plan (ABSLI DigiShield Plan) Reviews & Ratings

4.5 / 5 (Based on 32 Reviews)
(Showing Newest 25 reviews)
Pragya
B.khajuripada, March 31, 2021
Beneficial product
The term insurance which I bought from the birla sun life insurance is one of the best plan I have got. It was done from the website of the policybazaar. I really like the offers and the plans are really beneficial for me and my family. I am thankful to both the team. Thanks.
Shilpa
Rohinaa, March 30, 2021
A great financial services
I have recently got the term insurance plan from the website of the policybazaar. It was the plan of birla sun life insurance. This company is good and have been providing with a lot of better services to me and my family. Thanks team.
Dev
Ambaliyasan, March 30, 2021
Beneficial product
The term insurance which I bought from the birla sun life insurance is one of the best plan I have got. It was done from the website of the policybazaar. I really like the offers and the plans are really beneficial for me and my family. I am thankful to both the team. Thanks.
Avinash
Maandhata, February 16, 2021
Beneficial plan:
I have recently bought a term insurance plan from the policybazaar. It was of aditya birla sun life insurance and that plan is superb. I got to know about various benefits in one plan. Thanks a lot team.
Brijesh
Laharpur, February 16, 2021
High sum insured:
I recently bought a aditya birla sun life term insurance policy from the policybazaar. It is a nice product and has helped me in securing my family’s future. I took the plan with high coverage. Thanks a lot team policybazaar.
Madhvan
Badayun, October 20, 2016
Perfect Policy
Birla Sun life insurance company is good insurers and they provide wide range of insurance policies. Policy coverage is high and the claims are even better. claiming amount is big which is sanctioned when the policy get matured. Online portal is for online renewals of the insurance policies.
Gunjan
Nainital, September 27, 2016
Big Savings
Friend of mine suggested me a term insurance policy which I bought from birla sun life insurance company ltd. Service is absolutely fantastic which is facilitated by the whole term of the insurance company. The renewals are made easy through the service of online portal service.
Tapish
Ajmer, August 25, 2016
Birla Insurance Policy
Recently i have purchased term insurance policy through birla sun life insurance. Premium is less and returns are high. Coverage is very high and claiming is very simple. Service is fast provided by company members.
Vinay
Greater_noida, July 18, 2016
Term plan
Term insurance plan which i purchased from birla sun life insurance. The policy premiums is very less and claims are high. The policy coverage is high and service provided by the executives and members of the company is great.
Hatim
Pipili, July 05, 2016
Very Nice
The term insurance plan which i purchase in less investment amount and it has low premiums too. Service given by the staff of the company is fantastic and even there web service is easy which can do renewals and many more things.
Saurabh
Bawal, June 28, 2016
Good Policy
My term insurance plan is very good and returns are much more than investment. The premium of the policy is low and claims are high. Policy coverage is fantastic and claims are easily sanctioned due to superb service provided by the company members. Nice future investment.
DEEPA
Mumbai, May 14, 2016
THREE EASY STEP
I M VERY HAPPY TO HAVE THIS PLAN AS IT IS VERY EASY TO TAKE IN THREE EASY STEPS WHICH WOULD BE NOT AVAILABLE WITH DIFFERENT POLICIES IN INSURANCE SECTOR.SERVICE PROVIDED BY BSLI IS SO EXCELLENT FOR WHICH I M SUGGESTING FOR OTHERS TO TAKE THIS PLAN.
Hitesh
Pune, March 30, 2016
Full Point
I purchased birla sun life insurance policy and the product is term insurance policy plan. The premiums are ~Rs.7 K per month. The claims are good and easily sanctioned. Service facilitate by executives and staff members are very nice and fast. The policy saves taxes and it is really very good investment for future.
Nitin
Agartala, March 30, 2016
I Like The Policy Plan
Searching for life insurance and finally got one from birla sun Life Insurance one of the best insurance company. I took term insurance policy plan. The premium is normal and the policy coverage is approx. 93% and claims are high. The service is fine and the web services are also good.
Mayank
Manesar, March 30, 2016
Damn Good
My term policy plan is with birla sun life insurance policy plan. The policy coverage is high ~80%. Claims are easily sanctioned because of the quick services. The amount of payback is Rs.23 L. I'm satisfied with this policy plan.
Tarun
Mohali, March 30, 2016
Perfect Term Plan
My term policy plan has 90% policy coverage. Claims are high and easily sanctioned due to fast service. Premiums are ~37 K annually. Service is fast and always with taking good care by executives and staff members. Thank you, birla sun life insurance for this great policy. I like it very much.
Poonam
Udaipur, March 30, 2016
Fast Services
My term policy plan is good but the claims are less as compare with investment. The premiums is ~9.2 K twice per year. And returns are around Rs. 21 L. Birla sun life insurance is basically good policy company like they give 5% extra less for women on premiums. I like it.
Ritesh
Ranchi, March 30, 2016
Super Policy
I buy birla sun life term insurance policy plan. The policy coverage is good about 81% and the claims are high. The premium is low ~rs.33 K thrice per year. The services are fast and the claims are easily sanctioned. My taxes are also saved due to this policy. Good investment good policy plan, I like it.
Jignesh
Lonavla, March 30, 2016
Much Better Plan
Birla sun life insurance term policy plan i buy in low premiums and the policy coverage is 95% with good claims. The service is great provided by the executives and the 5% less on premiums for women. I like the policy plan. Behaviour also really nice from the staff members.
Rahul
Mysore, March 30, 2016
Fair Deal
The policy provide benefits according to premiums, so the term policy plan which i buy from birla sun life insurance is fair deal. Policy coverage is 70% and the claims are little bit low as the premiums are low. Around 23 L is the returns and the online portal is good and respond well.
Yajan
Jammu, March 30, 2016
Good Future Investment
My term policy plan is with birla sun life insurance. It has low premiums and the returns are high. Policy coverage is 90% and the claims are sanctioned easily form the insurance department. The taxes are not for premiums and claims. Even the 5% extra benefits for women on premiums. I like the policy plan, nice future investment.
Saahir
Malapuram, March 30, 2016
Fine Term Plan
Birla sun life insurance is equally good as other insurers for term insurance policy plan. The policy has low premiums and 5% extra less for women. The policy coverage is high with high claims and the claiming part is easy and no paper work so no waiting. Nice job guys.
Aman
Chandigarh, March 30, 2016
Best Policy
Policy plan is wonderful with huge benefits like low premiums and the policy coverage is high 90%. Claims are are good and the payback amount is around Rs.25 L after the policy get mature. Internet services are great with easy interface and vast variety of policies are there with full descriptions.
Jiten
Hyderabad, March 30, 2016
Wonderful
Birla sun life insurance is one of the best insurer for term insurance policy plan. The policy coverage is 93% and the claims are good even the the claiming procedure is easy because the service provided by the company members are good and even the web services are even better. The premiums are low and for women 5% less extra benefits.
Devesh
Faridabad, March 30, 2016
Good Plan
I buy term insurance policy plan from birla sun life insurance. The policy coverage is 80% and the premiums are low ~25 K per year. The claims are easily sanctioned because the services are fast from the executives side and from online web services also. The policy premiums are 5% less for women.
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