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ABSLI Life Shield Plan from ABSLI is an innovative term life insurance plan that is a collaborative effort of Aditya Birla Capital Ltd and Sun Life Financial Inc., a leading Canadian financial in Canada incorporated in August 2004. The company has pioneered in the field of general insurance and covers a broad spectrum of insurance solutions for clients in diverse ranges known to mitigate life risks.
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The plan aims to provide comprehensive coverage to the policyholder's family in his absence. Available in eight different plan variants, this plan endeavours to offer a comprehensive family cover. In the case of total permanent disability or critical illnesses, the insured can also secure a premium waiver benefit.
|
Parameters |
Details |
|
Policy Tenure |
10-55 years depending on the plan option |
|
Premium Paying Term |
● Single Pay ● Limited Pay( 6,8, or10 Years) ● Regular Pay |
|
Premium Paying Mode |
Monthly, Quarterly, Semi-Annually and Annually |
|
Entry Age |
18 to 65 years, depending upon plan option |
|
Maturity Age |
Maximum age is 85 years |
|
Grace Period |
30 days (15 days for Monthly premiums) |
|
Sum Assured |
Minimum – Rs.25,00,000 Maximum – No Limit *subject to underwriting guidelines |
|
Liquidity |
No loan is available under this policy. |
The ABSLI Life Shield plan provides customizable life coverage and comes with the following benefits:
*“Tax benefit is subject to changes in tax laws”
The ABSLI Life Shield Plan premium amount depends upon the plan variant that the insured chooses, along with the sum assured, plan tenure, age of the insured, payment frequency, and any add-on riders.
You can use the ABSLI Life Shield Plan calculator online to give a customized premium illustration. You can enter your DOB, gender, whether you are a smoker or not, monthly income, etc. your premium will be calculated and displayed.
You can visit the insurer website and follow the instructions given to buying the ABSLI Life Shield Plan.
The policy will reject critical illness or total permanent disability benefits claim made due to the following for the Waiver of Premium:
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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