Plan Options under ABSLI Life Shield:

1. Level Term Assurance
This option provides a fixed sum assured throughout the policy term. It ensures your family receives a predetermined amount in case of an unfortunate event, giving them financial stability without surprises.

2. Level Term Assurance with Waiver of Premium
With this plan, the sum assured remains fixed, and in case of a critical illness or disability, future premiums are waived while keeping the policy active. This ensures continuous protection without added financial burden during tough times.

3. Return of Premium
This plan ensures that all premiums paid are returned to you at the end of the policy term if no claim is made. It combines life cover with the benefit of maturity returns, offering financial security and savings.

4. Return of Premium with Waiver of Premium
In addition to returning all premiums on maturity, this option also waives future premiums in case of critical illness or disability. It ensures uninterrupted coverage and a refund of premiums, providing dual benefits.

5. Increasing Term Assurance
This option increases your sum assured by a fixed percentage each year to account for rising financial responsibilities and inflation. It ensures that your family is adequately protected as your life circumstances evolve.

6. Increasing Term Assurance with Waiver of Premium
Along with increasing coverage, this plan waives future premiums in case of critical illness or disability. It offers growing protection without added financial stress during challenging periods.

7. Decreasing Term Assurance
Ideal for those with decreasing financial liabilities, such as loans or mortgages, this plan reduces the sum assured over time. It ensures your insurance aligns with your financial obligations.

8. Decreasing Term Assurance with Waiver of Premium
This plan combines the benefits of decreasing coverage with a waiver of future premiums in case of critical illness or disability. It ensures your policy continues even if you face financial difficulties.

What is the eligibility Criteria for ABSLI Life Shield?

1. Entry Age:

• For Plan Options 1, 3, 5, 7: 18 to 65 years.
• For Plan Options 2, 4, 6, 8: 18 to 50 years.
  This wide entry age range ensures the plan caters to both young individuals starting financial planning and older individuals seeking life protection.

2. Maximum Maturity Age:
The policy matures at a maximum age of 85 years, providing long-term coverage to secure your family’s financial future even in your later years.

3. Policy Term:

• Plan Options 1 to 6: Minimum term of 10 years and maximum term of 55 years.
• Plan Options 7 and 8: Minimum term of 20 years and maximum term of 55 years.
  This flexibility ensures you can select a term that suits your financial goals and responsibilities.

4. Premium Payment Options:

• Regular Pay: Pay premiums throughout the policy term.
• Limited Pay: Pay premiums for 6, 8, or 10 years.
• Single Pay: Make a one-time payment for the entire policy.
  These options let you choose a payment schedule that aligns with your financial capacity.

5. Premium Payment Modes:
Choose from annual, semi-annual, quarterly, or monthly modes for convenience and budget management.

6. Sum Assured:

• Minimum: ₹25,00,000
• Maximum: No limit (subject to underwriting).
  This wide range ensures you can select a coverage amount that meets your family’s financial security needs.

Conclusion: 

ABSLI Life Shield offers flexible and affordable term insurance options designed to meet the diverse needs of individuals at different life stages. With a wide range of plan options, customizable coverage, and flexible premium payment methods, it ensures that your family’s financial security is never compromised. The plan offers benefits like tax savings, return of premiums, and premium waivers in case of critical illness, providing complete protection for your loved ones. Whether you choose a long-term policy or a short-term solution, ABSLI Life Shield is an ideal choice for comprehensive family security.

Key Takeaways:

• Flexible Coverage: Choose from 8 plan options to match your needs.
• Affordable Premiums: Get high life cover at budget-friendly rates.
• Customizable Sum Assured: Tailor your coverage to fit your financial goals.
• Flexible Payment Options: Pay premiums annually, semi-annually, quarterly, or monthly.
• Tax Benefits: Save on taxes under Sections 80C and 10(10D).
• Return of Premium: Get your premiums back at the end of the term if no claim is made.
• Critical Illness Protection: Waive premiums if diagnosed with a terminal illness.
• Family Protection: Ensure your loved ones are financially secure no matter what.