Aditya Birla Sun Life launches customisable term plan

Hyderabad: Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), launched a hyper-personalized term plan, ABSLI DigiShield Plan, to cater to the protection needs of customers.

This single plan will offer multiple plan options, added benefits linked to life stages, joint life protection, critical illness cover and rider options to tailor-make a distinctive protection solution, offering a comprehensive financial safety net for the customers and their loved ones.

People have various protection needs during different stages of their life and the hyper-flexibility offering of this plan helps to curate a protection strategy that aligns with their specific needs. Besides offering death benefit and acting as an income replacement tool, the new term plan assists in comprehensive financial planning.

Unlike traditional term plans, this plan allows a customer to enjoy its benefits during their lifetime through the survival benefit option. Further, it provides a unique flexibility to reduce the sum assured at a pre-defined retirement age, allowing customers to align their cover as per their outstanding liabilities and the life stage. This whole-life cover with sum assured reduction feature is a first-of-its kind in the life insurance industry which offers life coverage until age 100 years, the company said.

Along with these fully customizable offerings, this plan also provides various premium paying terms, policy tenures and death benefit pay-out options to satisfy unique customer requirements.