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Exploring ABSLI Surgical Care Rider

Published On Aug 07, 2021

About Aditya Birla Sun Life Insurance 

Incorporated on 4th August 2000, Aditya Birla Sun Life Insurance is one of the celebrated life insurance companies in the country. It is a subsidiary of Aditya Birla Capital Ltd (ABCL). An Aditya Birla Group and Sun Life Financial Inc., 51:49 joint venture, Aditya Birla Sun Life Insurance or ABSLI offers a vast range of traditional term plans, children future plans, retirement and pension plans, wealth protection plans, Unit Linked Insurance Plans (ULIPs) and health plans. 

About ABSLI Surgical Care Rider 

Aditya Birla Sun Life Insurance Surgical Care Rider is an optional cover that one can avail to take care of their surgical expenses. If the policyholder gets hospitalized to undergo surgery, the Surgical Care Rider provides them with a lump sum amount to get their expenses covered. An optional cover, Surgical Care Rider helps families keep financial concerns at bay during already tense situations. 

Features of ABSLI Surgical Care Rider

Some of the key features are:

  • Optional cover 
  • Available only at the time of policy issuance 
  • Comes at an affordable additional premium rate 
  • Minimum entry age - 18 years to 65 years
  • Maximum entry age – 70 years
  • Rider term – Same as that of the base plan or till the life insured attains 70 years of age (minimum- 5 years, maximum - 52 years)
  • Premium paying term – Same as base plan (minimum- 5 years, maximum - 52 years)
  • Pay mode – Same as a base plan
  • Rider sum assured – Rs. 1.5 Lakh (minimum); Rs. 15 Lakh (maximum), subject to a maximum of 100% sum assured of the base plan
  • Waiting period - 90 days for all benefits 
  • Specific waiting period - 2 years for specified conditions/procedures
  • Free-look period - As per the base plan
  • Grace period - As per the base plan

Benefits of ABSLI Surgical Care Rider

The major benefits are:

  • If the policyholder gets a lump sum benefit if they get hospitalized for undergoing a medically necessary surgery for a minimum period of 24 hours and thereafter, undergo the surgery. 
  • The policyholder can choose the benefit amount within the range of Rs. 3,000 and Rs. 30,000. It must be noted that the rider sum assured is 50 times this benefit amount. 
  • The benefit varies as per the surgery. In the case of major surgery (directly involving the brain, heart, liver or lung), the benefit amount is 5 times the chosen benefit amount. In the case of other surgeries, the benefit is equal to the chosen benefit amount. 
  • A policyholder can claim up to 10 times the chosen benefit amount in 1 policy year. Moreover, they can claim up to 50 times the chosen benefit amount during the entire policy term.

Final Words 

ABSLI Surgical Care Rider is definitely a big helping hand for any policyholder in need. What’s best is that a policyholder can also avail tax benefits under section 80D of the Income Tax Act, 1961 for the premium paid.

Also Read:

All About LIC's Premium Waiver Benefit Rider

What Is A Child Rider In Life Insurance Policy?

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.

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