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-Oneindia Staff
Life insurance replaces a household income that stops. Here is what it covers, how much cover to buy, and what ABSLI Super Term Plan offers.
Discover why term insurance is vital for your family’s financial security in 2026. Learn how it replaces lost income, protects savings, and provides peace of mind. This guide covers essential benefits, ideal cover amounts, and how plans like ABSLI Super Term Plan work to safeguard your loved ones.
What Is Life Insurance?
Life insurance is a contract between you and an insurance company. You pay a regular amount called a premium. In return, the company promises to pay a large sum of money, the sum assured, to your family if you pass away during the policy period. Some policies also pay a benefit if you survive the full term, which is how insurance doubles as a savings tool. The premium is small because the insurer pools risk across lakhs of policyholders. The payout is large because that is what a family losing its earner actually needs.
Why Is Life Insurance Important?
Consider everything that continues after an earning member is gone. The rent or the home loan EMI does not pause. School fees arrive on schedule. Groceries, electricity and a parent’s medicines keep their schedule while the salary that funded them ends. A term insurance payout, invested sensibly, can replace a household income for years, keeping children in the same school and the family in the same home.
There is a second reason that gets less attention. Life insurance protects your savings while you are alive. A family without cover that loses its earner is forced to sell assets, break deposits and borrow from relatives. Insurance means the family’s savings stay where they are, doing what they were meant to do.
What Does ABSLI Super Term Plan Offer?
|
Feature |
Detail |
|
Plan name |
ABSLI Super Term Plan |
|
UIN |
109N153V02 |
|
Plan type |
A Non-Linked Non-Participating Life Individual Pure Risk Premium Plan |
|
What it pays |
Sum assured to the nominee on death of the life insured during the policy term |
|
Plan options |
Three options: Level Cover, Increasing Cover, and Level Cover with Return of Premium |
|
Entry age |
Options 1 and 2: 18 to 65 years; Option 3: 18 to 55 years |
|
Maturity age |
28 to 85 years |
|
Premium payment options |
Regular Pay, or Limited Pay of 5, 7, 10, 12, 15 or 20 years or to age 60 under Options 1 and 2; 5, 10 or 15 years under Option 3 |
|
Premium payment modes |
Annual, semi-annual, quarterly or monthly |
|
Minimum sum assured |
Rs 25,00,000, with no upper limit subject to the Board Approved Underwriting Policy |
|
Death benefit payout |
Lump sum, monthly income over 10, 15 or 20 years, or a combination of both |
|
Inbuilt benefits |
Terminal Illness Benefit, Waiver of Premium on Accidental Total and Permanent Disability, and Health Management Services |
|
Optional benefit |
Accelerated Critical Illness Benefit, with ACI sum assured from Rs 5,00,000 |
|
Riders available |
ABSLI Accidental Death and Disability Rider (109B018V03), ABSLI Critical Illness Rider (109B019V03), ABSLI Surgical Care Rider (109B015V03), ABSLI Hospital Care Rider (109B016V03), ABSLI Accidental Death Benefit Rider Plus (109B023V02) and ABSLI Waiver of Premium Rider (109B017V03) |
Special premium discounts are available for salaried customers and female lives. The plan also offers a Cover Continuance Benefit allowing premiums to be deferred by up to 12 months while cover continues, an Enhanced Life Stage Protection option to raise the sum assured on marriage, childbirth or a home loan, and an Early Exit Value under Options 1 and 2 returning total premiums paid, subject to policy conditions.
What Are the Benefits of Life Insurance?
- Protection: financial security for your family through the death benefit.
- Savings: guaranteed** plans combine life cover with assured payouts for goals such as a child’s education, while market-linked plans tie savings to market growth over long horizons.
- Tax: premiums may qualify for tax deductions under applicable provisions of the Income-tax Act, and policy proceeds may be eligible for tax benefits, subject to prevailing tax laws and specified conditions.
- Cost: GST is not applicable on individual life insurance premiums, so the full premium works towards your policy.
- Peace of mind: people with adequate cover consistently describe a background worry that simply switches off.
How Much Life Insurance Cover Do You Need?
Cover of 10 to 15 times your annual income is the widely used benchmark, adjusted upward for outstanding loans and downward for existing assets. Three mistakes are worth naming so you can avoid them. Do not wait, because premiums rise with every birthday and health conditions can make cover costlier or unavailable later. Do not underinsure. And always answer the proposal form honestly, because complete disclosure at purchase is what ensures a smooth claim decades later.
Key Takeaways
- Life insurance pays a sum assured to your family if you pass away during the policy period.
- Cover of 10 to 15 times annual income is the widely used benchmark.
- ABSLI Super Term Plan is a Non-Linked Non-Participating Life Individual Pure Risk Premium Plan.
- ABSLI Salaried Term Plan is designed for salaried policyholders.
- Premiums may qualify for tax deductions and policy proceeds may be eligible for tax benefits, subject to prevailing tax laws and specified conditions.
- GST is not applicable on individual life insurance premiums.
- ABSLI settled 98.86%* of individual death claims in FY 2025-26.
How to Buy ABSLI Term Insurance Online
- Visit lifeinsurance.adityabirlacapital.com/term-insurance/ and select ABSLI Super Term Plan or ABSLI Salaried Term Plan.
- Enter age, income, smoking status and the cover you need.
- Review the premium illustration and choose your policy term and premium payment term.
- Add riders if required.
- Complete the proposal form with full health disclosure, pay online and complete medical requirements if applicable.
Compare term cover and premiums at lifeinsurance.adityabirlacapital.com/term-insurance/. ABSLI settled 98.86%* of individual death claims in FY 2025-26, as per annual audited figures submitted to IRDAI.
Disclaimers:
**Provided all due premiums are paid. *Individual death claim settlement ratio for FY 2025-26, as per annual audited figures submitted to IRDAI. Tax benefits are subject to prevailing tax laws and conditions.
Aditya Birla Sun Life Insurance Company Limited, Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. Registered Office: One World Center Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400013. Toll free no. 1800-270-7000. https://lifeinsurance.adityabirlacapital.com/ | [email protected] | CIN: U99999MH2000PLC128110 | Registration No. 109.
“BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS” IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
For more details on risk factors, terms and conditions please read the sales prospectus carefully before concluding a sale. Life insurance coverage is available in these products.
Product UINs:
ABSLI Super Term Plan (UIN 109N153V02), ABSLI Salaried Term Plan (UIN 109N141V05)
