In today's uncertain world, life insurance has become an essential financial tool for individuals and families to protect their loved ones’ futures. Aditya Birla Sun Life Insurance understands the importance of providing comprehensive coverage and financial security. One of their standout offerings is the DigiShield Plan, a versatile insurance solution designed to cater to the unique needs of policyholders.
In this article, we will explore the key features of the Aditya Birla Sun Life Insurance DigiShield Plan and guide you through the process of purchasing it. Whether you are a young professional starting a family or someone looking to enhance your existing life insurance coverage, the DigiShield Plan offers a range of benefits tailored to your specific needs.
By understanding the plan's features, advantages, and the steps involved in buying it, you can make an informed decision to safeguard your family's financial well-being. Let's delve into the details and explore how you can secure your loved one’s future with the Aditya Birla Sun Life Insurance DigiShield Plan.
Overview of Aditya Birla Sun Life Insurance DigiShield Plan
Aditya Birla Sun Life Insurance DigiShield Term Insurance Plan is a Non-Linked Non-Participating Individual Pure Risk Premium Life Term Insurance Plan. It is designed to provide financial security, flexibility, and peace of mind to individuals and their families. By offering customizable coverage options and tax advantages, the plan aims to meet the diverse needs of policyholders and help them secure a brighter future for their loved ones.
Plan Options
- Plan Option 1: Level Cover Option
- Plan Option 2: Increasing Cover Option
- Plan Option 3: Sum-Assured Reduction Option
- Plan Option 4: Whole Life Option (Level Cover)
- Plan Option 5: Whole Life Option (Sum Assured Reduction Cover)
- Plan Option 6: Income Benefit
- Plan Option 7: Level Cover plus Income Benefit
- Plan Option 8: Low Cover Option
- Plan Option 9: Level Cover with Survival Benefit
- Plan Option 10: Return of Premium (ROP)
Key Features of ABSLI DigiShield Term Plan
Here are some key features that are typically associated with ABSLI DigiShield term insurance plans:
- Aditya Birla Sun Life DigiShield Term Plan offers 10 Plan options to suit your varied protection needs.
- Availability of life insurance cover for 1 year or till age 100 years.
- Provides death benefit to the nominee in the event of the policyholder's demise during the policy term.
- Flexibility to choose the sum assured, which is the amount that will be paid out as a death benefit in the event of the insured's demise.
- Flexible premium payment options such as annual, semi-annual, quarterly, or monthly.
- Option to avail of Survival Benefit as Monthly Income on attaining age 60.
- Availability of additional riders can be added to enhance the coverage provided by the term insurance plan.
- Provides Return of Premium (ROP) option along with life insurance cover to secure your savings.
- Provides Inbuilt Terminal Illness Benefit.
- Offers Critical Illness Benefit option covering 42 specified Critical Illnesses.
- Option to cover your spouse under the same Policy with Joint Life Protection.
Eligibility Criteria of Aditya Birla Sun Life Insurance DigiShield Plan
| Plan Option |
Entry Age |
Maximum Maturity Age |
Premium Payment Term |
Policy Term |
Premium Payment Mode |
Sum Assured |
| Plan Option 1: Level Cover Option |
18 to 65 years |
85 years |
Single pay, Regular pay, 5 pay, 7 pay, 10 pay, 12 pay 15 pay, 20 pay |
5 to 55 years |
Single, Annual, Semi-Annual, Quarterly, Monthly |
30 lakhs to no limit |
| Plan Option 2: Increasing Cover Option |
18 to 65 years |
85 years |
Single pay, Regular pay, 5 pay, 7 pay, 10 pay, 12 pay 15 pay, 20 pay |
5 to 55 years |
Single, Annual, Semi-Annual, Quarterly, Monthly |
30 lakhs to no limit |
| Plan Option 3: Sum-Assured Reduction Option |
18 to 65 years |
85 years |
Single pay, Regular pay, 5 pay, 7 pay, 10 pay, 12 pay 15 pay, 20 pay |
11 to 55 years |
Single, Annual, Semi-Annual, Quarterly, Monthly |
30 lakhs to no limit |
| Plan Option 4: Whole Life Option (Level Cover) |
45 to 65 years |
100 years |
Single pay, 5 pay |
100 – entry age |
Single, Annual, Semi-Annual, Quarterly, Monthly |
30 lakhs to no limit |
| Plan Option 5: Whole Life Option (Sum Assured Reduction Cover) |
45 to 65 years |
100 years |
Single pay, 5 pay |
100 – entry age |
Single, Annual, Semi-Annual, Quarterly, Monthly |
30 lakhs to no limit |
| Plan Option 6: Income Benefit |
18 to 65 years |
85 years |
Single pay, Regular pay, 5 pay, 7 pay, 10 pay, 12 pay 15 pay, 20 pay |
5 to 55 years |
Single, Annual, Semi-Annual, Quarterly, Monthly |
30 lakhs to no limit |
| Plan Option 7: Level Cover plus Income Benefit |
18 to 65 years |
85 years |
Single pay, Regular pay, 5 pay, 7 pay, 10 pay, 12 pay 15 pay, 20 pay |
5 to 55 years |
Single, Annual, Semi-Annual, Quarterly, Monthly |
30 lakhs to no limit |
| Plan Option 8: Low Cover Option |
18 to 65 years |
69 years |
Single pay, Regular pay |
1 to 4 years |
Single, Annual, Semi-Annual, Quarterly, Monthly |
1 lakh to 20 lakhs |
| Plan Option 9: Level Cover with Survival Benefit |
18 to 50 years |
85 years |
Single pay, 5 pay, 7 pay, 10 pay, 12 pay 15 pay, 20 pay |
70 – (Age at Entry) to 55 years |
Single, Annual, Semi-Annual, Quarterly, Monthly |
30 lakhs to no limit |
| Plan Option 10: Return of Premium (ROP) |
18 to 65 years |
85 years |
Regular pay |
10 to 55 years |
Single, Annual, Semi-Annual, Quarterly, Monthly |
30 lakhs to no limit |
Benefits of Aditya Birla Sun Life Insurance DigiShield Plan
The Aditya Birla Sun Life Insurance DigiShield Plan offers several benefits to policyholders, providing them with comprehensive coverage and financial security. Here are some key benefits of the DigiShield Plan:
- Death Benefits: The DigiShield Plan provides life insurance coverage, ensuring that your loved ones are financially protected in the event of your demise during the policy term. The plan offers a lump sum payout as the death benefit, which can help your family meet their immediate and future financial needs.
- Customizable Coverage Options: The plan allows you to customize the coverage amount based on your financial requirements and obligations. You can choose the sum assured that aligns with your family's needs and provides adequate protection.
- Flexibility in Policy Term: The plan offers flexibility in choosing the policy term based on your financial goals and requirements. You can select a term that aligns with your long-term plans and provides the desired coverage duration.
- Tax Benefits: The premiums paid towards the DigiShield Plan are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. Additionally, the death benefit or maturity proceeds are usually tax-exempt under Section 10(10D) of the Income Tax Act, subject to prevailing tax laws.
- Additional Riders: You have the option to enhance your coverage by adding riders to the DigiShield Plan. These riders offer additional benefits such as critical illness coverage, accidental death benefit, waiver of premium, etc., providing you with comprehensive protection against specific risks.
How to Buy Aditya Birla Sun Life Insurance Digishield Plan Online
The process of buying an ABSLI DigiShield term insurance policy online has become simple with PolicyBachat. Follow the below steps to buy term insurance online:
At PolicyBachat Website:
- Step 1: Visit the PolicyBachat website. Click on the ‘Term’ tab. Enter the details such as Gender, Annual income from all the sources, Alcohol consumption and tobacco consumption, Salaries or Self-employed, and Date of Birth. After this, you need to enter your contact details to facilitate a call from our agent.
- Step 2: Now the premium from different insurance companies will be displayed on the screen. You can edit the details such as Coverage, Term, Premium payment method, Mode of claim settlement, etc., and submit the details to get the desired premium. The premium can be changed by changing other factors such as Coverage required, mode of payment, etc.
- Step 3: Compare different plan rates with the ABSLI DigiShield plan, Select the plan and pay the premium online. After the premium payment is successful, you will receive an email of the premium payment receipt.
At Aditya Birla Sun Life Insurance Company Website
- Visit the official website: Go to the official website of Aditya Birla Sun Life Insurance
- Understand the Plan: Review the plan details, benefits, coverage options, premium amounts, and any additional features or riders available. Ensure that the plan aligns with your requirements.
- Calculate Premium: Utilize any online premium calculators available on the website to get an estimate of the premium amount based on your chosen coverage and policy term.
- Fill in Personal Details: Click on the Buy Now button to proceed with the purchase. Fill in the required personal details such as your name, age, contact information, etc.
- Choose Coverage and Riders: Select the desired coverage amount and any additional riders or benefits you wish to include with the plan. Make sure to read the terms and conditions associated with each rider before selecting them.
- Review and Confirm: Carefully review all the information provided, including the coverage, premium amount, and personal details. Make any necessary adjustments or corrections.
- Submit Application: Once you are satisfied with the information, submit your application for the Aditya Birla Sun Life Insurance DigiShield Plan online.
- Complete Documentation: After submitting your application, follow the instructions provided to complete the necessary documentation. This may include submitting identification documents, medical records (if required), and any other supporting documents.
- Make Premium Payment: Pay the premium amount online using the available payment options. The website should provide secure payment gateways for smooth transactions.
- Policy Issuance: Once the payment is processed and the documentation is verified, you will receive the policy documents via email or courier, depending on the company's process.
Documents Required to Buy Aditya Birla Sun Life DigiShield Plan Online
When purchasing an Aditya Birla Sun Life Insurance Policy, you will typically be required to submit the following documents:
| Identity Proof: |
Aadhaar card
PAN card
Passport
Voter ID card
Driving license |
| Address Proof: |
Aadhaar card
Utility bill (electricity bill, telephone bill, etc.)
Bank statement
Passport
Rent agreement |
| Age Proof: |
Birth certificate
Passport
PAN card |
| Income Proof: |
Salary slips
Income tax returns (ITR)
Bank statements
Form 16 |
| Photographs: |
Passport-sized photographs |
Advantages of Buying Aditya Birla Sun Life Insurance Digishield Plan Online
Buying the Aditya Birla Sun Life Insurance DigiShield Plan online offers several advantages, providing convenience and accessibility to policy seekers. Here are some advantages of purchasing the DigiShield Plan online:
- Convenience: Buying the DigiShield Plan online allows you to complete the entire process from the comfort of your home or any location with internet access. You can explore the plan details, calculate premiums, and submit your application at your convenience, without the need to visit a physical branch.
- Time-Saving: Online purchase eliminates the need for multiple visits to the insurance company's office or engaging in lengthy paperwork. You can complete the process quickly, saving valuable time that would otherwise be spent on commuting and waiting in queues.
- Access to Information: Online platforms provide comprehensive information about the DigiShield Plan, including coverage options, benefits, and premium details. You can access these details at any time, compare different plans, and make an informed decision based on your needs and budget.
- Ease of Comparison: Buying online enables you to compare the DigiShield Plan with other insurance products offered by Aditya Birla Sun Life or even different insurance companies. You can review the features, benefits, and premiums of various plans side by side to select the one that best suits your requirements.
- Transparent Process: Online platforms generally provide clear and transparent information about the terms and conditions, coverage, and premium payment options. You can review the policy details, including any limitations or exclusions, before making a purchase decision.
- Instant Policy Issuance: Once you complete the online application and make the premium payment, the policy documents are usually generated instantly or within a short period. You can receive the policy documents via email, allowing you to start enjoying the benefits and coverage of the DigiShield Plan without delays.
Conclusion
Buying the Aditya Birla Sun Life Insurance DigiShield Plan online offers numerous advantages. The convenience and accessibility provided by online platforms streamline the purchasing process, saving time and effort. With online access to plan details, premium calculations, and policy comparisons, potential policyholders can make well-informed decisions based on their specific needs and budget.
Compare life insurance quotes now at PolicyBachat and get the ABSLI DigiShield plan at an affordable price.