Formerly known as Birla Sun Life Insurance Company Limited , Aditya Birla Sun Life Insurance Company Limited is (ABSLI) is a subsidiary of Aditya Birla Capital Ltd (ABCL). It is one of the leading private sector life insurance companies in India. The insurer offers a wide range of products such as children future plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans and ULIP (Unit Linked Insurance Plan).
Note: All information has been sourced from the official website of Aditya Birla Sun Life Insurance Company Limited.
Aditya Birla Sun Life Insurance Cancer Shield Plan is a traditional non - participating health insurance plan which offers coverage against all stages of cancer with an option to receive monthly income for 5 policy years on the diagnosis of a major stage of cancer.
The Key Features and Benefits of This Plan Are:
| Tax Benefits | As per Section 80D of the Income Tax Act, 1961 |
| Reimbursement | This is a fixed benefit payout plan |
| Pre-existing Disease | None, this plan is a cancer-specific plan |
| Flexibility | |
| Sum Insured | |
| Coverage | All stages of cancer |
| Premium Charges | |
| Plan Payouts | |
| Waiting Period | A waiting period of 180 days from the policy commencement date or from the date of reinstatement of the policy is applicable for all benefits payable under this coverage |
| Survival Period | There is no restriction of survival period after the date of diagnosis of cancer for the benefit to be paid |
| Maturity Benefit | There is no maturity benefit payable under this plan |
| Death Benefit | There is no death benefit payable under this plan |
| Surrender Benefit | There is no surrender benefit available under this plan |
Premium Waiver Benefit - In case of a claim upon detection of an early stage of cancer, all future premium payments for the policy will be waived for lower of 5 years or remaining policy term, starting from the next premium due date following the date of diagnosis of an early-stage cancer.
Income Benefit Option - under this option, monthly income equivalent to 1% of the Sum Assured on Illness would be paid out once a claim for Major Stage Cancer has been admitted. This monthly income benefit will be payable for a fixed period of next 5 years, the payout will continue even after the completion of the policy term. In case of death of the policyholder, the nominee will receive the payout.
Premium Guarantee - Under this option, the premium rates are guaranteed for the period of five years from the commencement of the policy.
The inclusions under this plan are all stages of cancer.
The exclusions under this plan are:
Pre-Existing Disease
Cancer occurred during the waiting period, or there were signs or symptoms during the waiting period that led to the subsequent diagnosis of Cancer
Acquired Immunodeficiency Syndrome (AIDS), AIDS-related complex or infection by Human Immunodeficiency Virus (HIV)
Any medical condition/any medical procedure arising from the donation of any of the life insured’s organ
Damage caused directly or indirectly by alcohol or drug abuse
Any medical condition/any medical procedure arising from nuclear contamination, radioactive, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accidents arising from such nature
Entry Age 18 - 65 Years
Maturity Age or Cover Ceasing Age 85 years
Policy Term Minimum - 5 Years / Maximum - 50 Years
Premium Paying Term Regular Pay
Premium Paying Mode Annual | Semi-Annual | Quarterly | Monthly
Sum Assured Min - Rs.10 Lakhs / Max - Rs.50 Lakhs
The plan will terminate at the earliest of the following:
In case of a claim, you need to intimate ABSLI immediately via online or email (claims.lifeinsurance@adityabirlacapital.com) or phone (1800 270 7000). You can also visit the branch physically. Post intimation, you need to submit the claim form and the relevant documents. The claims team will scrutinize each claim document in detail. Post verification, the payment is directly made to the policyholder or beneficiary.
The standard list of documents required for submission are:
