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ABSLI DigiShield Plan is a non-linked, non-participating term insurance plan offered by Aditya Birla Life Insurance Company. On opting for this plan, your family will be paid a lum sum as a death benefit, in case you pass away during the policy term. The family of the policyholder could use this amount to meet their financial needs, without disturbing their day-to-day expenses.
Aditya Birla Digishield term insurance plan comes with affordable premiums and plan variants, which makes this plan a comprehensive, wide coverage option.
Here are some key features of this plan:
Minimum Age - 18 years Maximum Age - 65 years
Maximum Maturity Age - 85 years
Minimum term - 5 years Maximum term - 40 years
Base sum assured: 30 Lacs to no limit.
The policy loan is not available under ABSLI Digishield Plan.
Annual, half-yearly, quarterly & monthly
Let's understand how the Aditya Birla Sun Life Digishield Plan work with a simple premium illustration.
Mr. Kartik Sharma a 40-year-old Gurugram based Software engineer, is looking for a term insurance plan that offers inbuilt critical illness along with increasing life cover.
He saw a add on social media by policyx.com for term plan offers same benefits. Policyx.com carefully analyze his queries and guide him to go with ABSLI Digishield Plan.
Let us see a brief illustration of Mr. Kartik Sharma's Aditya Birla Sunlife Digishield Plan.
Age of policyholder | Annual premiums | Policy tenure | Premium payment term | Total premiums paid | Sum assured |
40 years | Rs 32, 654 | 20 years | 20 years | Rs 653080 | Rs 50 Lakh |
Key Takeaways: Mr. Kartik will covered up to the age of 60 years. In case of an unfortunate event, his nominee will receive a sum assured of Rs. 50 lakhs.
Here are the benefits associated with the Aditya Birla Sunlife Digishield Plan
Upon the unfortunate demise of life insured during the policy term, the ABSLI Digishield Plan offers the death benefit to the nominee among the highest of the following: 10 times of annual premium or 105% total sum assured or sum assured as per policy.
You can avail the benefit of getting back your total premiums paid at the end of the policy term under the maturity benefits.
All the premiums paid for the ABSLI Digishield term plan can be used for claiming tax benefits for upto Rs. 1.5 lakhs under section 80C and for upto Rs. 2.5 lakhs under 10(10D) of the Income Tax Act 1961.
Here is the list of exclusions associated with the plan:
Aditya Birla Sun Life Digisheild is a pure-term insurance plan that offers comprehensive protection for your whole life. This plan offers some exclusive features such as Level Cover, Increasing Cover, SA Reduction, Income Benefit, and so on. With the ABSLI DigiShield Plan, you can opt for a large sum assured at an affordable cost. In case you have more doubts regarding this plan you can contact PolicyX.com. Our certified insurance advisors work 24/7 to solve every possible query at zero cost.
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The policy tenure of the ABSLI Digishield Plan is 5 to 40 years.
The sum insured for ABSLI Digishield Plan is a Minimum Rs. 1 Lakh and Maximum Rs. 20 lahks.
The premium payment mode of the ABSLI Digishield Plan is Yearly/Half Yearly/Quarterly/Monthly.
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Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.
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February 5, 2023
Asia/Kolkata
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