Aditya Birla Sun Life Insurance has announced a customized term strategy, ABSLI DigiShield Plan, to cater to the exceptional protection requires of consumers. This single strategy will offer you various strategy solutions, added advantages linked to life stages, joint life protection, essential illness cover and rider solutions to tailor-make a distinctive protection option, providing a complete monetary security net for the policyholders.
Unlike standard term plans, this strategy makes it possible for a purchaser to love its advantages in the course of their lifetime via the survival advantage solution. Further, it delivers exceptional flexibility to decrease the sum assured at pre-defined retirement age, permitting consumers to align their cover as per their outstanding liabilities and the life stage. As per the business, this entire-life cover with sum assured reduction function is a 1st-of-its-type in the life insurance coverage sector which gives life coverage till age one hundred years.
Along with these completely customizable offerings, this strategy also delivers many premium paying terms, policy tenures and death advantage spend-out solutions to satisfy exceptional consumer needs. This holistic strategy mitigates liabilities, delivers protection to loved ones and supports retirement and legacy targets.
Commenting on the launch, Kamlesh Rao, MD & CEO, Aditya Birla Sun Life Insurance, mentioned, “Recent uncertain times have generated a need for a resilient financial cover with customized offerings. 2021 would be the year of hyper-personalization and at ABSLI, we aim to offer solutions which evolve with changing needs and lifestyles of our customers. ABSLI’s DigiShield Plan is one of a kind offering that stands as testimony to our customer-centric ethos. Now, our new-age customer will be empowered to tailor-make a comprehensive solution through the various personalization features and carve a protection policy which is a precise fit for self and family”.
Unique advantages
Sum assured reduction solution with entire life cover – This solution gives life coverage till age one hundred years and also makes it possible for the consumer to decrease the sum assured by 50% or 25% at a pre-determined retirement age. This exceptional flexibility makes it possible for consumers to decide on higher sum assured in their earning years and decrease their life cover in the course of their retirement years. It tends to make the providing excellent for salaried consumers or folks who have to handle their liabilities correctly.
Survival earnings on attaining Age 60 years – This solution delivers month-to-month earnings to the consumer on attaining Age 60 years and requires care of retirement earnings requires. Life cover continues all through the policy term and the nominee is paid lumpsum advantage of sum assured, significantly less survival advantages paid, in case of any unfortunate occasion. This solution guarantees will need for life protection & retirement earnings is taken care beneath one strategy.
Income Benefit solution – This solution delivers assistance to the dependent members of the consumer in his/her absence by replacing the lost earnings with a 1.25% of Sum Assured as fixed month-to-month earnings or rising month-to-month earnings at 5% (basic) per annum for a period of 10/15/20 years, as selected by the consumer at inception of the policy.
Level cover solution – The nominee is paid the absolute quantity equal to the sum assured on death, in lump sum.
Customize the strategy based on your requires
DigiShield strategy gives 10 strategy solutions with a selection of advantages to suit each and every individual’s needs. Some of the solutions that one can pick from are:
- Type of cover (level & lowering)
- Tenure of the policy (To Age 85 & Whole Life)
- Premium payment term (Single, Limited & Regular)
- Death advantage spend-outs (Lump sum, Monthly earnings and Lump sum plus Monthly earnings)
Accelerated Critical Illness (ACI) advantage: Secured protection against 42 essential illnesses by opting for the Accelerated Critical Illness (ACI) Benefit solution with added premium payment.
Cover for your spouse: Now one can cover their partner’s life beneath the similar strategy by availing of the Joint Life Protection solution.
Multiple rider advantages: A complete protection strategy can be made by opting for added protection via various riders by paying added premiums.
Enhance protection cover without having health-related: One can avail flexibility to improve the cover quantity on precise events like marriage, childbirth or on availing home without having undergoing fresh health-related or underwriting, just by intimating us on any of these events.
People have many protection requires in the course of distinctive stages of their life and the hyper-flexibility providing of this strategy aids to curate a protection approach that aligns with their precise requires. Besides providing death advantage and acting as an earnings replacement tool, ABSLI DigiShield strategy assists in complete monetary preparing.