The ABSLI Super Term Plan is a Non-Linked, Non-Participating, Individual Pure Risk Premium Life Insurance Plan that acts as an “all-in-one” solution for family protection. It offers a choice of three core plan options and several built-in benefits that address financial contingencies beyond just the death of the policyholder.
The plan’s main selling points are the Early Exit Value (providing a premium refund option after a certain age), the ability to increase coverage over time (Increasing Cover option), and the Cover Continuance Benefit, which acts as a premium holiday during financial distress.
Quick Overview: ABSLI Super Term Plan Review
| What’s Good? | What’s Not Good? |
| 3 Plan Options: Includes Level Cover, Increasing Cover (5% p.a. simple increase), and Level Cover with Return of Premium (ROP). | ACI is Accelerated: The Accelerated Critical Illness (ACI) Benefit reduces the base Sum Assured (SA) upon payout, it is not an additive benefit. |
| Early Exit Value: Option to exit the policy after age 60/65 and receive 100% of total premiums paid back (available under the Level Cover option). | Long Term Requirement for EE: The Early Exit feature is typically available only for policies with a policy term greater than 30 years. |
| Waiver of Premium (WOP): Inbuilt WOP on diagnosis of Terminal Illness (TI) or Accidental Total and Permanent Disability (ATPD). | No Automatic Increase: The increasing cover option is simple interest (5% p.a.) and is subject to a cap (e.g., 200% of the original SA). |
| Cover Continuance: Allows the policyholder to defer premium payment for up to 12 months (up to three times) without policy lapse. | Maximum Age for TI/ATPD WOP: WOP benefit for ATPD is available up to age 70, and TI benefit up to age 80. |
| Custom Payout: Nominee can choose Lump Sum, Monthly Income, or Income + Lump Sum payout at the time of claim. | Premium Increase: Premiums will be calculated at the current age rate if the SA is increased under the Life Stage Benefit. |
Pricing and Insurer Track Record
This reflects the company’s reliability and financial stability.
| Detail | Aditya Birla Sun Life Insurance Company Limited (ABSLI) |
| Founded in | 2000 |
| Claim Settlement Ratio (FY 2023-24) | 98.65% (Individual Death Claim Paid Ratio) |
| Solvency Ratio | Well above the regulatory mandate. |
| Maximum Maturity Age | Up to 85 years |
Detailed Product Overview
The ABSLI Super Term Plan is distinguished by its built-in safety mechanisms and flexibility. The Early Exit Value feature is a major attraction, allowing policyholders to terminate their coverage after reaching a specified age (e.g., 60) and receiving a full refund of their base premiums paid—a fantastic option for those who expect liabilities to end before the full policy term. .
The Increasing Cover Option helps battle inflation by boosting the Sum Assured by 5% simple interest annually, up to a maximum of 200% of the original Sum Assured. For those who want more, the Life Stage Benefit allows an increase in SA at milestones (marriage, childbirth, home loan) without new medical underwriting.
The Cover Continuance Benefit provides a crucial financial safety net, allowing the policyholder to pause premium payments for up to 12 months during financial difficulty while keeping the life cover active. This can be utilized up to three times during the policy tenure (with specific gap requirements).
At A Glance
| Product Benefit | Feature Details (ABSLI Super Term Plan) |
| Product Type | Non-Linked, Non-Participating, Pure Term Plan (3 options) |
| Plan Options | Level Cover, Increasing Cover, Level Cover with ROP |
| Death Benefit Payout | Lump Sum OR Monthly Income OR Income + Lump Sum |
| Early Exit Value | Receive 100% of Total Premiums Paid (base) after a specified age (Level Cover option only). |
| Return of Premium (ROP) | 100% of Total Premiums Paid returned at maturity (ROP variant only). |
| Cover Continuance | Option to defer premium payment for up to 12 months (max 3 times). |
| Waiver of Premium (Inbuilt) | For Terminal Illness (TI) and Accidental Total and Permanent Disability (ATPD). |
| Accelerated Critical Illness (ACI) | Pays out a lump sum on CI diagnosis; reduces the Death Benefit by the ACI amount paid. |
| Life Stage Benefit | Option to increase SA at milestones (Marriage, Childbirth, Home Loan) without fresh underwriting. |
| Tax Benefits (80C/10(10D)) | Premiums eligible for deduction under 80C; Death benefits are fully tax-exempt. |
Frequently Asked Questions
1. What are the key ABSLI Super Term Plan benefits?
The key ABSLI Super Term Plan benefits are the Early Exit Value feature, the Cover Continuance Benefit (premium holiday), and the flexibility to choose Level, Increasing, or ROP cover options.
2. How does the Early Exit Value work?
The Early Exit Value allows policyholders (under the Level Cover option) to voluntarily surrender the policy after achieving a specified age (e.g., 60) and receive 100% of the total base premiums paid back, providing an excellent hedge against the “money gone” feeling of pure term plans.
3. Is the Critical Illness Benefit additive or accelerated?
The Accelerated Critical Illness (ACI) Benefit is accelerated. This means the amount paid out upon CI diagnosis is deducted from the base Sum Assured (SA), and the remaining SA is paid out upon eventual death.
4. Can I buy ABSLI Super Term Plan and increase my cover later without a medical test?
Yes, under the Life Stage Benefit, you can increase your Sum Assured (SA) at key events (marriage, childbirth, home loan) without fresh medical underwriting, up to specified limits.
5. What is the Cover Continuance Benefit?
The Cover Continuance Benefit provides a safety net, allowing the policyholder to delay premium payments for up to 12 months without the policy lapsing, maintaining the full life cover during this period of financial difficulty.
6. What is the ABSLI Claim Settlement Ratio (CSR)?
ABSLI maintains a strong Claim Settlement Ratio (CSR) of 98.65% (FY 2023-24), indicating high reliability in paying claims.
7. Are there discounts available on the premium?
Yes, the plan often offers special discounts for Salaried Customers and Female Lives (e.g., 10% on the first year’s premium), in addition to online purchase rebates.
8. Does the plan offer a Whole Life Cover option?
The Super Term Plan generally offers coverage up to 85 years. For whole life cover (up to 99/100 years), you would need to explore other ABSLI products like the DigiShield Plan.
9. Can the nominee convert the monthly income payout to a lump sum?
Yes. If the nominee chooses the monthly income payout option, they can typically commute the remaining income benefit into a single discounted lump sum payment at any point during the income benefit period.
10. Does the policy offer the Waiver of Premium (WOP) for Critical Illness?
The plan offers an inbuilt WOP upon diagnosis of a Terminal Illness or ATPD. A separate WOP rider must be purchased if you want the waiver benefit to trigger upon diagnosis of a non-terminal Critical Illness.
Important Disclaimer & Disclosure
Please Read Before Proceeding: The information provided in this blog post about ABSLI Super Term Plan is for informational and educational purposes only. This content is based on our interpretation of policy brochures and market research as of November 2025.
- Not Financial Advice: This is not insurance or financial advice. Always consult with a certified financial advisor or insurance expert before making any purchase decisions.
- Policy Wording is Final: Features, limits, premium rates, exclusions, and benefits are subject to change. The final, legally binding terms and conditions are those stated in the official Policy Wording document issued by the insurer. Please review this document thoroughly before committing to a plan.
- Tax Disclaimer: Tax benefits are subject to changes in the Income Tax Act, 1961. Consult a qualified tax professional to confirm current tax implications for your specific financial situation.
