ABSLI Life Shield Term Insurance plan:

ABSLI Life Shield is a simple, affordable term insurance plan to secure your family’s future. It provides financial support to your loved ones if something happens to you, ensuring they can continue their lives without financial stress.

This plan offers multiple options, so you can choose the one that best fits your needs. Whether you want a lump sum or regular income for your family, ABSLI Life Shield has you covered. It also includes features like increasing coverage at key life stages, adding critical illness benefits, and discounts for insurers. Applying for this plan is easy and completely online, making it convenient for you to protect your family’s future and offering tax benefits, adding to its value.

What are the key features of ABSLI Life Shield Term Insurance?

1. High Life Cover at Affordable Premiums:
ABSLI Life Shield offers significant life insurance coverage at pocket-friendly premium rates. This ensures that you can protect your family’s financial future without straining your budget. With its affordable premiums, this plan provides maximum value for your investment, making it an ideal choice for comprehensive protection.

2. 8 Flexible Plan Options:
To cater to varying protection needs, ABSLI Life Shield provides 8 different plan options. Whether you want a lump sum payout, regular income for your family, or a combination of both, this policy offers flexibility to match your unique financial goals and life circumstances.

3. Customizable Sum Assured:
With ABSLI Life Shield, you can customize your sum assured based on your budget and financial requirements. This feature allows you to select the right level of protection for your family without exceeding your financial limits.

4. Flexible Premium Payment Modes:
The plan offers flexibility in premium payments, allowing you to choose annual, half-yearly, quarterly, or monthly modes. This ensures that the policy fits seamlessly into your financial planning and cash flow.

5. Increase Coverage at Life Stages:
Life is full of milestones, such as marriage, becoming a parent, or buying a home. With ABSLI Life Shield, you can increase your insurance coverage at these major life stages, ensuring that your protection grows with your responsibilities.

6. Return of Premium on Maturity:
One of the standout features of this plan is the return of premium facility. If the policy matures without a claim, all the premiums you have paid will be returned to you, making it a risk-free investment option.

7. Easy Online and Offline Purchase:
Buying the ABSLI Life Shield policy is simple and convenient. Whether you prefer online or offline methods, the process is designed to be quick and hassle-free.

8. 3 Claim Payout Options:
Choose how your family receives the claim amount: a lump sum payment, staggered payments with fixed annual income, or staggered payments with increasing annual income. This flexibility ensures your family gets the support they need in the way that works best for them.

What are the benefits provided under Life Shield Term insurance plan?

1. Income Tax Benefits:
With ABSLI Life Shield, you not only secure your family’s future but also enjoy tax savings. Premiums paid under the policy are eligible for tax deductions under Section 80C of the Income Tax Act, 1961. Additionally, the claim amount received by your family is exempt from taxes under Section 10(10D), ensuring maximum financial benefits.

2. Enhanced Life Stage Protection:
Life changes, and so do your responsibilities. ABSLI Life Shield allows you to enhance your insurance coverage at key life stages, such as marriage, becoming a parent, or buying a home. This feature ensures your protection grows with your needs, giving your family added security when they need it most.

3. Rider Options for Extra Protection:
The policy offers a variety of rider options, such as critical illness cover, accidental death benefit, and disability cover. These add-ons allow you to customize your plan to address specific risks, providing an extra layer of protection against unforeseen events.

4. Joint Life Protection:
ABSLI Life Shield lets you secure two lives under a single plan. With this joint life option, you and your spouse can be covered together, ensuring financial stability for your family even in challenging times.

5. Maturity Benefits:
Unlike traditional term plans, ABSLI Life Shield offers a return of premium option. If no claim is made during the policy term, all the premiums paid are returned to you upon maturity, making it a risk-free investment.

6. Waiver of Premium for Terminal Illness:
In case of a terminal illness diagnosis, ABSLI Life Shield waives future premiums. This ensures that your coverage continues without financial burden, allowing you to focus on treatment and care.

Conclusion: 

ABSLI Life Shield is a smart and comprehensive term insurance plan designed to provide financial security and peace of mind. With its affordable premiums, flexible plan options, and benefits like tax savings, enhanced life stage protection, and maturity returns, it ensures your family’s future is well-protected. The added advantages of rider options, joint life coverage, and a waiver of premium for terminal illness make it a reliable and customizable solution. Whether online or offline, buying this policy is simple and hassle-free. Secure your loved ones’ dreams today with ABSLI Life Shield  a plan that truly cares.

Key Takeaways:

• Multiple Plan Options: Choose from 8 plans to suit your needs.
• Affordable Premiums: High life coverage at pocket-friendly rates.
• Customizable Coverage: Adjust the sum assured to fit your budget.
• Flexible Premium Payment: Annual, half-yearly, quarterly, or monthly options.
• Enhanced Life Stage Protection: Increase coverage at major milestones.
• Tax Benefits: Save under Sections 80C and 10(10D) of the Income Tax Act.
• Rider Options: Add critical illness, accidental death, and disability cover.
• Joint Life Protection: Cover you and your spouse under one plan.
• Return of Premium: Get back premiums if no claim is made.
• Terminal Illness Waiver: Premiums waived for terminal illness diagnosis.

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