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Digit Glow Term Life Insurance is specifically designed to meet the needs of self-employed individuals by offering life insurance coverage for a chosen term. This plan provides financial security to your family in your absence. It includes optional benefits like protection against accidental death, permanent disability, and terminal illness, ensuring comprehensive coverage tailored to your needs.
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Here is a list of key features that you need to know about this term insurance plan:
The plan provides life insurance coverage to secure your family's financial future.
Offers wellness benefits to support the policyholder's overall well-being.
Offers flexibility to choose your preferred payment frequency from single, annual, half-yearly, quarterly, or monthly.
It includes optional benefits for added protection against accidental death, permanent disability, and terminal illness.
Flexible premium payment options are available to pay once, for a limited period, or throughout the policy term.
Term Plans
| Parameters | Minimum | Maximum |
| Entry Age | 18 years | 65 years |
| Maturity Age | 19 years | 85 years |
| Policy Term | 1 year | 40 years |
| Sum Assured (in Rs.) | 2,25,000 | 1,00,00,000 |
| Premium Payment Frequency | Single Pay Annual, Half-Yearly, Quarterly, Monthly for Limited and Regular Pay |
|
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Take a look at the benefits one can avail with Digit Glow Term Insurance:
In case of the policyholder's death during the policy term, the death benefit is paid to the nominee as a lump sum. The amount paid is the higher of:
105% of total premiums paid till the date of death
10 times the annualized premium
Sum assured on death
The plan offers several inbuilt options for enhanced coverage, such as:
Additional Accidental Death Benefit (ADB)
Provides an extra payout equal to 100% of the sum assured on death in case the policyholder's death is due to an accident.
This benefit applies if the death occurs within 180 days of the accident, even if the policy term has ended.
The policy terminates upon payment of this benefit, and no further payouts are made.
Additional Accidental Total and Permanent Disability (ATPD) Benefit
Offers a lump sum equal to 100% of the sum assured on death if the policyholder suffers total and permanent disability due to an accident.
This benefit applies even if the disability occurs within 180 days of the accident after the policy term ends.
On payment of this benefit, only the ATPD coverage terminates; the policy continues for death and other optional benefits.
Accelerated Terminal Illness Benefit
Provides an early payout of the death benefit as a lump sum if the policyholder is diagnosed with a terminal illness during the policy term.
Terminal illness is defined as a medical condition expected to result in death within six months, as confirmed by two independent medical practitioners.
Once this benefit is paid, the policy terminates with no further payouts.
The premiums paid, and proceeds received under the policy may be eligible for tax benefits per prevailing tax laws.
The Digit Glow Term Plan includes a Wellness Benefits Program to promote a healthier lifestyle and support overall well-being. These services are facilitated through empanelled service providers and offer the following features:
Doctor on Call
Access round-the-clock medical advice via chat, voice, or video calls through empanelled medical practitioners.
Wellness Coach
Receive regular guidance and information on weight management, fitness, nutrition, tobacco cessation, alcohol addiction, disease awareness, and dietary plans.
Diagnostic Lab Services
Facilitate test sample collection, such as blood, urine, stool, etc., or imaging services through empanelled providers.
Pharmacy Services
Enjoy home delivery of prescribed medications and nutritional supplements, subject to prescription requirements and availability.
Vital and Physical Activity Monitoring
Integrate your health devices, such as fitness trackers, glucometers, or smartwatches, to track and assess vitals and receive periodic health updates.
Reminder Notifications
Receive reminders for medical appointments or medication schedules via notifications or follow-up calls.
Digital Medical Wallet
Store and access medical reports online for easy sharing with healthcare professionals or others, ensuring convenience and security.
Health Report Aggregation
Get a comprehensive analysis of your health status based on shared medical records or data.
Home Care Services
Avail home care services like nursing, physiotherapy, yoga training, elder care, palliative care, and medical equipment rental.
Ambulance Arrangement
Facilitation of ambulance services for transportation, subject to availability.
Pick-Up and Drop Services
Transportation to healthcare facilities for consultations or diagnostics can be arranged through empanelled providers.
Prioritized Appointments
You can get priority appointments with healthcare providers based on urgency, including consultations, diagnostics, and treatments.
Mental Wellbeing Services
Access therapy sessions, self-assessments, and educational content focused on mental health.
Physiotherapy Services
Facilitate consultations and treatments for pain management and ergonomic solutions.
Childcare and Activities
Recreational and developmental activities for children of various age groups.
Outpatient (OPD) Services
Assistance with online and on-site doctor consultations, diagnostics, and pharmacy services.
Fitness Services
Access fitness classes and memberships for yoga, Zumba, Pilates, dance, and gym workouts.
**These health management services in term insurance are tailored to ensure a healthier and more balanced lifestyle. However, the policyholder needs to bear the costs of specific services.
A grace period ensures uninterrupted coverage in case of late premium payments. For monthly premium payments, the grace period is 15 days, while for other payment frequencies, it is 30 days. During the grace period, the policy remains active, and applicable benefits are provided, subject to deducting unpaid premiums. Grace periods do not apply to single-pay policies.
If premiums are not paid within the grace period for regular or limited pay policies, the policy lapses, and all benefits cease.
If at least three years of premiums have been paid, a death benefit equal to the unexpired risk premium value is payable upon the life assured’s death after the grace period.
This policy does not offer a reduced paid-up benefit.
Single Pay Policies: You may terminate the policy anytime before the policy term ends and receive an unexpired risk premium value, calculated as:
60% x Single Premium x (Outstanding Policy Term/Policy Term)
Limited Pay Policies: Early termination is allowed if three full years’ premiums have been paid. The unexpired risk premium value is calculated as follows:
60% x Total Premiums Paid x (Outstanding Policy Term/Policy Term) x (1 - Premium Payment Term/Policy Term)
If three years of premiums are not paid, no unexpired risk premium value is payable.
Regular Pay Policies: Early termination offers no unexpired risk premium value.
A lapsed policy can be revived within five years from the date of the first unpaid premium, subject to the following:
Submission of proof of insurability as per underwriting requirements.
Payment of all due premiums and applicable late fees at the prevailing interest rate.
Medical examination, if required.
Loans are not available under this policy.
You have a 30-day free look period to review the policy terms and conditions. If you cancel, the premium will be refunded after deducting the proportionate risk premium for the coverage period, medical examination expenses (if any), and stamp duty charges.
Suicide Exclusion
Suppose the life assured passes away due to suicide within 12 months from the policy's risk commencement date or revival date (whichever applies). In that case, the nominee or beneficiary will receive the higher of:
80% of the total premiums paid up to the date of death or
The unexpired risk premium value as of the date of death.
This benefit is provided only if the policy is active at death. Once the benefit is paid, the policy will terminate.
†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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