Exploring ABSLI Life Insurance Riders
Updated On Nov 22, 2021
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In these uncertain times, every responsible individual owes it to themselves and their respective families to have insurance that secures their future. The respective insurance plan chosen by an individual should provide enough coverage as well as smart benefits that will come in handy during times of need. The insurance plan chosen by the respective individual should also ensure that it fits accordingly to their needs as well.
However, having a mere insurance policy in possession is insufficient. The available advantages that will add value to the chosen insurance plan are a must to ensure overall coverage. These benefits are referred to as 'riders,' and they are chosen based on the size of the family, future demands, inflation and rising living costs, and the necessity according to the insured individuals. These insurance riders both subjectively and statistically enhance the overall value and efficacy of an existing selected insurance plan.
ABSLI Riders And Their Benefits
Following are the listed ABSLI riders and their benefits that an individual can add to their respective insurance plans -
1. ABSLI Surgical Care Rider
In this rider, an individual can choose the reward amount ranging from Rs. 3,000 to Rs. 30,000. The assured rider amount will be multiplied by 50 the reward amount. In cases, like an event of a major surgery, an individual will be reimbursed 5 times the benefit amount they have selected. For any other qualified surgical hospitalization, the benefit will be equivalent to the chosen benefit amount.
2. ABSLI Hospital Care Rider
In this rider, the Hospital Cash Benefit is Rs. 600 per day at minimum. And the maximum monetary reward is Rs. 6,000 per day. For each day spent in the intensive care unit (ICU), an extra 100 percent of the daily cash benefit amount is provided to the respective individual. For 7 or more days of continuous hospitalisation, a lump sum recovering a benefit equal to 3 times the chosen daily cash benefit will be paid to the respective individual.
3. ABSLI Waiver of Premium Rider
If the insured individual becomes completely disabled as a result of an illness or accident, or is diagnosed with one of the specified critical illnesses, or dies (if not the life insured), all future premiums for the base insurance plan and attached riders will be waived for the remainder of the policy term, or until the policy is terminated, or until the insured individual reaches the age of 70, whichever situation comes first.
4. ABSLI Death And Disability Rider
If an insured individual dies in an accident, then the respective nominee will receive the chosen rider sum assured up to a maximum of Rs. 50,00,000. An insured individual will get a specified proportion of the rider sum assured if they become disabled as a result of an accident, depending on the kind of injury.
5. ABSLI Surgical Care Rider
The Surgical Care Rider is an optional cover that may be purchased to cover surgical expenses of the respective insured individual. If the concerned individual is admitted to the hospital for surgery, the Surgical Care Rider pays them a lump sum to cover their expenditures. Surgical Care Rider acts like an extra insurance that helps families deal with financial difficulties during stressful times.
Aditya Birla Sun Life Insurance Solutions offers a significant and most comprehensive protection policies with a range of riders that an individual can make use of to customize their policy. One can select from the range of riders that they need and tailor the package to their specific preferences and needs. And all of this is available to a respective individual at a minimal price.
You may also like to read - How Can Term Rider Be Beneficial?
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.