ABSLI Life Shield Plan

• What is the tax benefit in this Plan?
  You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek an independent tax advice.
  
  
• What is the period covered under this plan?
  The maximum policy term is 55 years
  
  
• How long do I pay premiums for?
  You can choose to pay the premium either for a single time, or for a limited period of 6, 8 and 10 years, or regularly till the maturity of the policy.
  
  
• What is the minimum and maximum policy term?
  The minimum policy term for Plan Options 1 to 6: 10 years. (For Limited Pay Variant with PPT 10 years, it is 15 years.). For Plan Options 7 and 8: 20 years.
  
  The maximum policy term for all plan options is 55 years.
  
  
• What is the maturity benefit in a term plan?
  Several term plans come with an option of ‘return of premium’ in case the policyholder survives the policy period. This amount that the policyholder receives upon the termination of policy is known as maturity benefit.
  
  
• What is the death benefit offered under this plan?
  Death benefit for limited or regular pay plans will be the highest of 10 times the annualized premium, or 105% of total premiums paid till date of death, or absolute amount assured to be paid upon death. For single pay plans, the death benefit will be the highest of 125% of single premium amount or absolute amount assured to be paid upon death.
  
  
• Will there be any benefit if someone suicide?
  We will pay the premiums paid to date (excluding applicable taxes) or surrender value, if higher in the event the life insured dies by committing suicide, within twelve months from the inception of the policy or revival date of the policy respectively, provided the policy is inforce.
  
  For Joint Life Protection, the suicide exclusion described above applies in the event of earlier death of either the Primary Life Insured or the Secondary Life Insured and the life cover as mentioned in the Joint Life Protection section shall continue for the surviving Life Insured subject to the payment of reduced future premiums, if any.
  
  
• How long does it take to get the claim settled?
  Post the receipt of all claim requirements/ documents, your claim will be generally settled within 2 to 3* business days. To raise a claim, you can either fill an online claim form, or visit your nearest ABSLI Branch, or call on our toll-free number 1800 270 7000.
  
  *all requisite documents are submitted & claim does not require field investigation

HDFC Bank Limited (IRDAI Registration No: CA0010) is the Corporate Agent of Aditya Birla Sun Life Insurance Company Limited and does not underwrite the risk or act as an insurer.

Registered Address: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013. Participation by the Bank’s clients in the Insurance products is purely on a voluntary basis. The contract of Insurance is between Aditya Birla Sun Life Insurance Company Limited and the Insured and not between HDFC Bank and the Insured.

This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-linked non - participating term insurance plan. All terms and conditions are guaranteed throughout the policy term. GST and any other applicable taxes will be added (extra) to your premium and levied as per extant tax laws. An extra premium may be charged as per our then existing underwriting guidelines for sub-standard lives, smokers or people having hazardous occupations, etc. The insurance cover for the life insured will commence on the policy issue date. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding the sales. Tax benefits are subject to changes in the tax laws.

Aditya Birla Sun Life Insurance Company Limited. Registered Office: One World Centre, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Website: www.adityabirlasunlifeinsurance.com and Toll-free no. 1800-270-7000. IRDAI Reg no.109 CIN: U99999MH2000PLC128110 UIN: 109N109V06 ADV/3/21-22/2324

​​​​​​​BEWARE OF SPURIOUS / FRAUD PHONE CALLS!

​​​​​​​IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.