ABSLI Life Shield Plan

All You Need To Know

FEATURE

Plan Options

The plan options available are given below:

Option 1 - Level Term Assurance

Option 2 - Level Term Assurance with Waiver of Premium (WOP) Benefits

Option 3 - Increasing Term Assurance

Option 4 - Increasing Term Assurance with Waiver of Premium (WOP) Benefits

Option 5 - Decreasing Term Assurance

Option 6 - Decreasing Term Assurance with Waiver of Premium (WOP) Benefits

Option 7 - Return of Premium

Option 8 - Return of Premium with Waiver of Premium (WOP) Benefit

Special Features

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.

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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. The Sum Assured applicable for your spouse shall be equal to 50% of your applicable Sum Assured.

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Enhanced Lifestage Protection:

You may opt to increase your life cover on occurrence of each of the events below without undergoing for any fresh medical examination. This feature is available only for policy under Plan Option 1 and Option 2, standard life at inception of the policy, regular pay policy and the attained age of life insured is less than or equal to 50 years while exercising this option.

Event Enhanced Protection (% of Sum Assured at Inception of the policy)
First Marriage 50% subject to a maximum of Rs. 50,00,000
Birth of 1st Child 25% subject to a maximum of Rs. 25,00,000
Birth of
2nd Child		 25% subject to a maximum of Rs. 25,00,000
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