Aditya Birla Life Shield Plan
  • Avail 8 Plan Options
  • Flexible-Premium Payment
  • Cover for Spouse
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Aditya Birla Life Shield Plan

ABSLI Life Shield plan (Aditya Birla Life Shield Plan) is a versatile and online available term insurance product. The plan is an affordable term insurance plan with a high life cover and 8 different plan options to suit your requirements.

One of the many benefits of the plan is the ability to increase your sum insured at major life stages such as marriage, the birth of your child, and other such major life events.

Here are some key features of this plan:

why-choose
  • Level Term Insurance
  • Increasing Term Insurance
  • Return of Premium
  • Decreasing Term Assurance
  • Tax Benefits
  • Increasing Term Assurance with Waiver of Premium (WOP)

Eligibility Criteria for Aditya Birla Life Shield Plan

Your Occupation

Entry age

Minimum Age - 1 years Maximum Age - 65 years

Mukhyamantri Amrutam Yojana

Maturity age

Maximum Maturity Age - 85 years

Your Gender

Policy term

Minimum term - 10 years Maximum term - 55 years

Maternity Benefit Rider

Sum assured

Base sum assured: 25 Lacs to no limit.

Dr YSR Aarogyasri Trust

Policy loan

The policy loan is not available under ABSLI Life Shield Plan.

Maternity Benefit Rider

Payment modes

Annual, half-yearly, quarterly & monthly

How Does Aditya Birla Life Shield Plan Work?

Let's understand how the Aditya Birla Life Shield Plan work with a simple premium illustration.

Why Buy Term Insurance Online?

Problem

Mr. Sachin Gupta is a 40-year-old Banglore-based software engineer, looking for a term Insurance plan that offers level term cover with return of premium feature.

Solution

His wife suggests he to visit PolicyX.com. PolicyX.com, advisors carefully analyze his query and suggest him to purchase the ABSLI Life Shield Plan.

Let us see a brief illustration of Mr. Sachin Gupta's Aditya Birla Sunlife Digishield Plan

Age of policyholder Annual premiums Policy tenure Premium payment term Total premiums paid Sum assured
40 years Rs 19,596 20 years 20 years Rs 391920 Rs 50 Lakh

Key Takeaways: Mr. Sachin will be covered up to the age of 60 years. In case of any unfortunate event, his nominee will receive a sum assured of Rs. 50 lakhs.

Benefits of Aditya Birla Life Shield Plan

Here are the benefits associated with the Aditya Birla Life Shield Plan

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Riders Associated with ABSLI Life Shield Plan

You can add the following riders to your ABSLI Life Shield Plan:

ABSLI ADD (Accidental Death and Disability)

This rider offers additional protection for accidents leading to death and disability at an affordable cost.

ABSLI Critical Illness Rider

This rider offers a lumpsum amount in case of diagnosis of any of the listed critical illnesses.

ABSLI Surgical Care Rider

This rider offers a lumpsum amount to cover surgical expenses.

Features of Aditya Birla Life Shield Plan

Level Term Assurance

Under this option, once the sum assured value is opted by a customer it will remain constant for the entire policy term.

Increasing Term Assurance

You can choose to enhance your sum assured at inception by 5%/10% per annum as per your requirements and every year your sum assured value will increase by either 5% or 10% as per your selection at the time of policy purchase at no additional premium charges.

Return of Premium

Under this plan option, the sum assured chosen by the customer will remain constant for the entire policy term and if the life insured survives till maturity date, the plan shall return all the premiums paid to the insured life.

Exclusions of Aditya Birla Life Shield Plan

Here is the list of exclusions associated with the plan:

  • Death occurred due to a pandemic is not covered by the company.
  • Death caused due to any type of adventure sports.
  • Death by consumption of any type of drugs and alcohol.
  • Death due to any pre-existing disease that isn't mentioned during the start of the policy.
  • If the policyholder commits suicide within the first 12 months of purchasing the policy, then no death benefits are paid to their nominee. Either premiums paid to date or the surrender value of the policy whichever is higher is paid to them.

Conclusion

ABSLI Life Sheild plan is highly customizable with multiple plan options and benefits which can be opted for as per your family’s requirements. The plan is a boon to individuals who want a high sum assured at an affordable premium price.

In case you have any doubts regarding the ABSLI Life Shield Term Plan you can contact PolicyX.com. Our certified insurance advisors work 24/7 to resolve every possible query for you.

Explore more about Aditya Birla Term Insurance Plans

Explore other Aditya Birla Term Insurance

Aditya Birla Term Insurance offers one of the best term insurance plans to cater to the unique needs of every customer. You can buy their term plans with high life cover at pocket-friendly costs. Get a 5% discount for online purchases and 100% claim assistance with Aditya Birla Term Insurance plans. Below is the list of term plans offered by Aditya Birla.

ABSLI Life Shield plan (Aditya Birla Life Shield Plan) is a versatile and online available term insurance product. The plan is an affordable term insu...

Unique Features

  • Avail 8 Plan Options
  • Flexible-Premium Payment
  • Cover for Spouse

Aditya Birla Life Shield Plan (Pros)

Aditya Birla Life Shield Plan
  • 105% of total death benefit
  • Tax benefits as per law
  • Return of premium

Aditya Birla Life Shield Plan (Cons)

Aditya Birla Life Shield Plan
  • No policy loan
  • No critical illness
  • no tax benefit

Aditya Birla Life Shield Plan (Other Benefits)

Aditya Birla Life Shield Plan
  • Suicide Cover After 12 Months
  • Discount for Non-Smokers
  • 5% online discount

Aditya Birla Life Shield Plan (Eligibility Criteria)

Aditya Birla Life Shield Plan
  • Min entry age-1 years
  • Max entry age-65 years
  • Min. sum assured-25 Lac
  • Max. sum assured- No limit
  • Premium payment term-Regular/limited

ABSLI Poorna Suraksha Kawach is a comprehensive plan that offers the benefit of return of premium and early return of premium along with the life insu...

Unique Features

  • 6 Plan option
  • Increasing or decreasing SA benefit
  • Special exit value

ABSLI Poorna Suruksha Kawach (Pros)

ABSLI Poorna Suruksha Kawach
  • Death benefit
  • Return of Premium
  • Critical illness benefit

ABSLI Poorna Suruksha Kawach (Cons)

ABSLI Poorna Suruksha Kawach
  • No Policy Loan
  • No investment option
  • No terminal illness benefit

ABSLI Poorna Suruksha Kawach (Other Benefits)

ABSLI Poorna Suruksha Kawach
  • Maturity benefit
  • Tax benefit
  • Surrender benefit

ABSLI Poorna Suruksha Kawach (Eligibility Criteria)

ABSLI Poorna Suruksha Kawach
  • Minimum entry age- 18 years
  • Maximum entry age-65 years
  • Maximum sum assured-20 crore
  • Minimum policy term-5 years
  • Maximum policy term-55 years

ABSLI DigiShield Plan is a non-linked, non-participating term insurance plan offered by Aditya Birla Life Insurance Company. On opting for this plan, ...

Unique Features

  • Large Sum Insured
  • Many Plan Options
  • Affordable Premium

Aditya Birla Sunlife Digishield Plan (Pros)

Aditya Birla Sunlife Digishield Plan
  • Level cover option
  • Increasing cover
  • Income benefit

Aditya Birla Sunlife Digishield Plan (Cons)

Aditya Birla Sunlife Digishield Plan
  • No sucide cover
  • No policy loan
  • no pre-exiting cover

Aditya Birla Sunlife Digishield Plan (Other Benefits)

Aditya Birla Sunlife Digishield Plan
  • Smart exit value
  • Premium break
  • Sum assured top-up

Aditya Birla Sunlife Digishield Plan (Eligibility Criteria)

Aditya Birla Sunlife Digishield Plan
  • Min entry age-18 yrs
  • Max. entry age-65 yrs
  • Min. sum assured-30 Lac
  • Max. sum assured-no limit
  • Plan payment- Limited/regular.

Other Term Insurance Companies

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Simran Kaur Vij

Written By: Simran Kaur Vij

Simran is an insurance expert with more than 4 years of experience in the industry. An expert with previous experience in BFSI, Ed-tech, and insurance, she proactively helps her readers stay on par with all the latest Insurance industry developments.