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ABSLI Life Shield Plan
ABSLI Life Shield Plan from ABSLI is an innovative term life insurance plan that is a collaborative effort of Aditya Birla Capital Ltd and Sun Life Financial Inc., a leading Canadian financial in Canada incorporated in August 2004. The company has pioneered in the field of general insurance and covers a broad spectrum of insurance solutions for clients in diverse ranges known to mitigate life risks.
15 lakh Families Secured
₹13,50,000 Crore of Life Cover Assured
Customer Rating
4.8++5 Reviews
4.8++5 Reviews
₹1 Crore Life cover starting from ₹478/month+
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Term Insurance
- ABSLI Life Shield Plan
The plan aims to provide comprehensive coverage to the policyholder's family in his absence. Available in eight different plan variants, this plan endeavours to offer a comprehensive family cover. In the case of total permanent disability or critical illnesses, the insured can also secure a premium waiver benefit.
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Parameters |
Details |
|
Policy Tenure |
10-55 years depending on the plan option |
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Premium Paying Term |
● Single Pay ● Limited Pay( 6,8, or10 Years) ● Regular Pay |
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Premium Paying Mode |
Monthly, Quarterly, Semi-Annually and Annually |
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Entry Age |
18 to 65 years, depending upon plan option |
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Maturity Age |
Maximum age is 85 years |
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Grace Period |
30 days (15 days for Monthly premiums) |
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Sum Assured |
Minimum – Rs.25,00,000 Maximum – No Limit *subject to underwriting guidelines |
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Liquidity |
No loan is available under this policy. |
Benefits of ABSLI Life Shield Plan
The ABSLI Life Shield plan provides customizable life coverage and comes with the following benefits:
- 8 different plan options for various protection needs
- Spouse coverage under one policy
- Option for Return of Premium on maturity
- Waiver of Premium benefit available in case of disease or disability
- Coverage can be enhanced as the insured covers key milestones in life, like, marriage and childbirth.
- Terminal Illness Benefit included
- Multiple ways for death benefit payment
- Increased protection with appropriate riders for accidental death and disability, critical illness, hospital care, etc.
- *Tax benefits under Income Tax Act, Sec 80C & 10(10D)
*“Tax benefit is subject to changes in tax laws”
The premium for ABSLI Life Shield Plan
The ABSLI Life Shield Plan premium amount depends upon the plan variant that the insured chooses, along with the sum assured, plan tenure, age of the insured, payment frequency, and any add-on riders.
You can use the ABSLI Life Shield Plan calculator online to give a customized premium illustration. You can enter your DOB, gender, whether you are a smoker or not, monthly income, etc. your premium will be calculated and displayed.
Additional Riders for ABSLI Life Shield Policy
- ABSLI Accidental Death and Disability Rider – Provides financial coverage to the nominee in the case of untimely demise or disablement of the insured
- Accidental Death Benefit Rider Plus- 100% rider sum assured in case of the insured's accidental death plus the return of premiums after the accident.
- ABSLI Critical Illness Rider – Helps to cover costs for 4 major critical illnesses
- ABSLI Hospital Care Rider – Coverage for various hospital expenses, like ICU and hospital charges, and hospital cash benefits.
- ABSLI Surgical Care Rider –Extra cover for hospital surgical expenses.
Eligibility Criteria for ABSLI Life Shield Plan
- Indian national
- The age range for plans Level Term Assurance, Increasing / Decreasing Term Assurance, and Return of Premium option- 18 to 65 years
- Age range for plans Level Term Assurance with Waiver of Premium, Increasing / Decreasing Term Assurance, and Return of Premium with Waiver of Premium options- 18 to 50 years
- Maximum age of maturity is 85 years
What are the documents required to buy this plan?
- Identity Proof- PAN Card/ Passport/Driving License/Voter Id
- Address proof- AADHAAR card/Passport/Driving License
- Income proof- latest salary slips, ITR, Form 16, bank statements
How to buy this plan online?
You can visit the insurer website and follow the instructions given to buying the ABSLI Life Shield Plan.
- Alternatively, for a quick and easy purchase experience, you can buy online ABSLI Life Shield Plan from Policybazaar.
- You can visit the Policybazaar website at policybazaar.com. On the home page, select Life Insurance>> Term insurance. Select the plan from the available options and provide your details as asked. Choose your payment method and make the payment online. You can also check the ABSLI Life Shield Plan policy status online on Policybazaar.
- You can also contact Policybazaar Sales at their helpline number at 1800-208-8787.
Exclusions for ABSLI Life Shield Policy
The policy will reject critical illness or total permanent disability benefits claim made due to the following for the Waiver of Premium:
- Any death or suicide claim made outside the policy period
- Any Pre-Existing condition or disease within 48 months of policy issue or revival
- Any sickness within 90 days from the policy commencement or revival date
- Sexually transmitted diseases
- Suicide or attempted suicide
- Self-inflicted injuries
- Death due to participation in a criminal, terrorist, or unlawful activity;
- Consumption of liquor, drugs, or narcotics leading to death.
- Any contamination or accident due to radioactive or nuclear material,
- Any death or disability arising due to participating in professional sports, hazardous or adventurous pursuits
Note: Check all the best term insurance plan in India.
Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.
FAQs
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Q1. Does this plan provide a free look-up period?
A1. The policyholder can return the policy to the insurer within 30 days of the date of purchase if he is not satisfied with the policy. He needs to send a written notice to the insurer explaining the reasons to opt-out. However, the ABSLI Life Shield Plan reviews show that most customers are fully satisfied with their purchase. -
Q2. What are the various death benefit options under this policy?
A2. The various death benefit options under the policy are as follows:- Single Pay-Sum assured or 125% of the single premium paid amount
- Under Regular Pay or Limited Pay- Higher of Sum assured or 10X annualized premium, or 105% of total premium paid
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Q3. Are any benefits for the premium waiver provided?
A3. In case of critical illness and total permanent disability, the insurer gives you the benefit of waiving all future benefits under plan options 2, 4, 6, and 8 of this policy. -
Q4. Does the ABSLI Life Shield policy provide joint life protection?
A4. The policy gives an option to insure both the policyholder and his spouse for a minimum sum insured of Rs 50 Lakh.- In the event of the death of the primary insured, the secondary insured gets 50% sum assured and continues to pay the remaining premium
- In the event of the second insured's death, the primary insured gets his sum assured, and the premium amount is reduced
- In case of the death of both together, the whole sum insured goes to the nominee
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Q5. What is the return of premium option in the ABSLI Life Shield Plan?
A5. In this plan option, your Sum Assured remains constant for the entire term. All premiums paid are returned to the policyholder if he survives till the maturity date. -
Q6. What are the benefits provided by this plan in case of terminal illness diagnosis of the policyholder?
A6. Upon the first diagnosis of the policyholder’s terminal illness, the insurer will pay 50% of the sum assured to the family, up to a maximum of Rs 2.5 Crore. Also, any future premiums will be waived off. If the insured dies, the nominee gets a reduced amount post the deduction of the terminal Illness amount.
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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.
+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
Women
+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.
1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.
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