Digit Glow Plus Term Life Insurance

This plan is designed to offer both peace of mind and value, ensuring your loved ones remain financially secure in every situation.

Key Features of Digit Glow Plus Term Insurance

• The plan offers life cover for your entire family, and you can choose from the two available plan variants

• Get inbuilt accelerated Terminal Illness Benefits and inbuilt waiver of premium on the diagnosis of terminal illness at no extra cost

• Receive all your premiums back as maturity benefits with the Term Insurance with Return of Premium variant

• You can choose to defer the premium payments by up to 12 months with the plan’s Pay Later option

• Exit the plan early to receive 100% of the premiums paid as Smart Exit Benefits in case of no longer needing life cover

• The plan offers special premium discounts for salaried employees for the first year

• Receive lower premium rates for female customers and wellness benefits for all policyholders

• You can enhance the base term insurance cover of your plan by adding Accidental Death and Accidental Total and Permanent Disability rider benefits.

• Choose to pay the single premiums, limited premium pay term, or regular premium pay terms.

Plan Options Available with Digit Glow Plus Term Life Insurance

The plan options available with the Digit Glow Plus term insurance are as follows: 

• Term Life Insurance

The death benefits will be paid on the death of the policyholder during the policy term

Inbuilt death benefits can be accelerated on the diagnosis of a terminal illness

No maturity benefit will be payable in case of survival

• Term Insurance with Return of Premium 

The death benefits will be paid in case of death of the policyholder during the policy term

Receive inbuilt accelerated terminal illness benefit, which pays the death benefits in case of diagnosis of a terminal illness

On survival of the policy term, a 100% of the total premiums paid as a lump sum at maturity of the policy will be returned.

Benefits Offered With the Digit Glow Plus Term Insurance Plan

Death Benefits

The Digit Glow Plus term plan pays a lump sum payout to your family in case of your untimely death during the policy term. The death benefit to be paid on death will be calculated as follows:

For a single premium pay policy

• 1.25 times the single premium

• The sum assured on death

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For a limited or regular pay premium policy

• 105% of the total premiums paid 

• 10 times the annual premium 

• The sum assured on death

On the payment of the death benefits, the policy will terminate, and no other benefits will be payable.

In-built Accelerated Terminal Illness Benefits

On the diagnosis of a terminal illness during the policy term, the plan will accelerate a portion of the death benefit payout to the policyholder. The amount to be paid on the diagnosis of a terminal illness will be as follows: 

• If the death benefits are less than or equal to 2 Crores, the entire death benefit will be paid out.

• If the death benefits are more than 2 Crores, up to 2 Crores will be paid on the diagnosis and the remaining will continue the cover with the premiums waived off. The optional rider benefits, like Accidental Death or Accidental Total Permanent Disability, will be terminated on the diagnosis of a terminal illness.

Survival Benefits

On the survival of the policy term, the following will occur depending on your individual cases:

Case 1: With a regular term insurance plan, no payout will be made on surviving the policy term.

Case 2: The term insurance with return of premium variant will payout a lump sum of the total premiums paid (excluding the rider premiums and any extra premiums paid due to underwriting), on surviving the policy term. 

Case 3: On the diagnosis of a terminal illness during the policy term and on receiving the accelerated payout amount, your remaining premiums will be waived off, and the maturity benefits payable under TROP will be: 

• All premiums paid before the diagnosis of terminal illness

• All premiums that were waived off after diagnosis (excluding premiums for optional benefits)

Smart Exit Benefits

The smart exit benefits allow the customers to exit the plan early and receive 100% of the premiums paid back on policy termination. The benefit is only applicable if the policy is active, all the premiums are duly paid, and the policy has completed 29 years (excluding the last 5 years).

Rider Benefits Offered with Digit Glow Plus Term Plan

The term insurance riders offered with the Digit Glow Plus Term Insurance Plan are as follows: 

Accidental Death Benefits (ADB)

In case the policyholder suffers an untimely death within 180 days due to an accident, then the Accidental Death benefits will be paid on top of the base death benefit. 

• The ADB rider sum assured can be up to 100% of the base sum assured. 

• On the payment of the ADB benefit, the policy will terminate.

• To be able to claim this benefit, the death must be caused by the accident within 180 days and not be one of the accident-related exclusions.

Accidental Total and Permanent Disability (ATPD)

If the policyholder becomes totally and permanently disabled due to an accident during the policy term, the rider benefit will be paid. The ATPD rider sum assured can be up to 100% of the base sum assured of the policy, and will be paid on top of the base death benefit.

• The ATPD rider must be claimed within 180 days of the accident.

• On the ATPD claim payout, the coverage will end, but the base policy cover will continue for the remaining policy term.

Eligibility Conditions for the Digit Glow Plus Term Life Insurance 

You need to meet the following eligibility conditions to buy the Digit Glow Plus term insurance plan: 

Policy Details of the Digit Glow Plus Term Insurance Plan

Wellness Benefits

With Digit Glow Plus Term Insurance, policyholders get access to a wide range of wellness services that make health management easier and more affordable. These include up to 27,000 worth benefits per year, offering doctor-on-call consultations, wellness coaching, lab and diagnostic services, pharmacy home delivery, activity monitoring, medical wallet, home care services, ambulance arrangements, OPD services, and even fitness and mental well-being support. Please note that these are value-added services and not part of the insurance coverage, and any usage is optional and paid by the user.

Pay Later Option

You can choose to defer or delay your premium payments for up to 12 months without losing coverage or paying interest. During this period, your policy remains fully active with all benefits intact. After the break, you need to pay all missed premiums along with the next scheduled premium. This feature is available only after completing three full years of timely payments and can be used multiple times with a five-year gap in between. However, it cannot be availed in the last year of the premium payment term or during certain restricted periods.

Salaried Customer Discount

The salaried customers can claim a special salaried customer discount on first-year premiums for a sum assured of 50 Lakhs or more. The single pay premium option offers a discount of 1% on the premium, and the discount for limited and regular pay options varies as follows: 

• 4% for 50 Lakhs to 99.99 Lakhs

• 6% for 1 Crore to 1.49 Crores

• 10% for 1.5 Crores

Grace Period

If you miss a premium payment, you get a grace period of 15 days for monthly payments and 30 days for other payment modes. During this time, your policy continues to offer coverage. However, if a claim is made, any unpaid premium will be deducted from the claim amount. Grace periods are not applicable to single-pay policies.

Policy Lapse

If you fail to pay premiums even within the grace period, your policy will lapse (applicable for regular or limited pay plans). Once lapsed, the coverage stops, but you can revive the policy later, subject to conditions. Single-pay policies do not lapse.

Reduced Paid-Up (for TROP option)

If you have a Term Return of Premium (TROP) plan, and it has acquired a surrender value, your policy may convert into a Reduced Paid-Up policy if you stop paying premiums. In this case, your death, maturity, or terminal illness benefits will reduce proportionately, based on the number of premiums paid compared to the total due.

Policy Revival

You can revive a lapsed policy within five years by paying all overdue premiums along with interest (currently 9% per annum, subject to change). The insurer may also require fresh medical tests before revival. If the policy is not revived, the outcome will depend on the policy type and how many premiums you had already paid before lapsation.

Exclusions for Digit Glow Term Insurance

Suicide Clause in Glow Plus Term Insurance

If the policyholder dies by suicide within the first 12 months of the policy inception or revival of a lapsed policy, the insurer will not pay the full death benefit. Instead, the nominee will receive the higher of the following:

• 80% of the total premiums paid (excluding taxes and rider charges), or

• Unexpired risk value, which is calculated based on the remaining coverage period and policy terms.

This clause is included to discourage misuse of life insurance policies and to protect the insurer from early claim risks. However, if the death by suicide occurs after 12 months, the death benefit will generally be payable as per the policy terms.

Accidental Death & Disability Benefit (ADB/ATPD) Exclusions

The insurer will not pay benefits under Accidental Death or Accidental Total and Permanent Disability if the claim arises due to the following:

• Suicide or self-inflicted injuries

• Consumption of drugs, alcohol, or other intoxicating substances

• Participation in war, rebellion, or civil unrest

• Involvement in criminal acts or unlawful activities

• Flying in non-commercial aircraft (except as a fare-paying passenger)

• Participation in extreme or adventure sports such as skydiving or bungee jumping

• Pre-existing medical conditions that were not disclosed at the time of policy purchase

• Mental health or nervous system disorders

• Treatments related to cosmetic procedures, fertility, or experimental therapies

• Injuries caused due to radiation or nuclear exposure