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Product Information
Protection Plans ABSLI Life Shield Plan
Synopsis:
A that offers you the flexibility to make a combination from amongst 8 different plan options as per your family's needs so they need not compromise on their lifestyle, even in your absence.

Features:

  • Multiple options to suit your different protection needs
  • Option to enhance coverage at key milestones of your life
  • Option to cover your spouse under the same policy
  • Return of premium option
  • Inbuilt Terminal Illness Benefit
  • Inbuilt Terminal Illness Benefit
  • Enhance your insurance with appropriate rider options

Benefits:

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  • Death Benefit:
    In case of the unfortunate demise of the life insured during the policy term, Death Benefit will be paid to the nominee.
  • Terminal Illness Benefit:
    In case you are diagnosed with a Terminal Illness, 50% of the applicable Sum Assured on Death, subject to a maximum of Rs.2.5 crore, will be paid immediately and all future due premiums are waived off. On subsequent death of the Life Insured during the policy term, the Sum Assured on Death shall be reduced by the amount of Terminal Illness Benefit already paid. Future due premiums are not liable to be paid on their premium due dates.
  • Joint Life Protection:
    Under this option, two lives, i.e., you (primary life insured) and your spouse (secondary life insured) are covered under the same policy.
  • Enhanced Lifestage Protection:
    Your protection need varies at different lifestages owing to occurrence of joyous events such as marriage and birth of children.
Eligibility:
Entry Age (age last birthday) : 18 to 65 years of age
Maximum Maturity Age: 80 Years
Policy Term Minimum: 1. Plan Option: 1 | 2 | 3 | 4 | 5 | 6 – 10 years
2. Plan Option: 7 | 8 – 20 years
3. Maximum - 50 years
Premium Paying Term : Single Pay | Limited Pay – 6 | 8 Years | Regular Pay
Premium Mode : Annual | Semi-annual | Quarterly | MonthlyPay | Limited Pay – 5 | 7 years | Regular Pay