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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.

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Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
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The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
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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.   



Policy Tenure

10-55 years depending on the plan option

Premium Paying Term

●       Single Pay

●       Limited Pay( 6,8, or10 Years)

●       Regular Pay

Premium Paying Mode

Monthly, Quarterly, Semi-Annually and Annually

Entry Age

18 to 65 years, depending upon plan option

Maturity Age

Maximum age is 85 years

Grace Period

30 days (15 days for Monthly premiums)

Sum Assured

Minimum – Rs.25,00,000

Maximum – No Limit

*subject to underwriting guidelines


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 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


  • 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
  • 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
  • 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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Aditya Birla Sun Life Term Insurance Plans Reviews & Ratings

4.5 / 5 (Based on 32 Reviews)
(Showing Newest 10 reviews)
B.khajuripada, March 31, 2021
Beneficial product
The term insurance which I bought from the birla sun life insurance is one of the best plan I have got. It was done from the website of the policybazaar. I really like the offers and the plans are really beneficial for me and my family. I am thankful to both the team. Thanks.
Rohinaa, March 30, 2021
A great financial services
I have recently got the term insurance plan from the website of the policybazaar. It was the plan of birla sun life insurance. This company is good and have been providing with a lot of better services to me and my family. Thanks team.
Ambaliyasan, March 30, 2021
Beneficial product
The term insurance which I bought from the birla sun life insurance is one of the best plan I have got. It was done from the website of the policybazaar. I really like the offers and the plans are really beneficial for me and my family. I am thankful to both the team. Thanks.
Maandhata, February 16, 2021
Beneficial plan:
I have recently bought a term insurance plan from the policybazaar. It was of aditya birla sun life insurance and that plan is superb. I got to know about various benefits in one plan. Thanks a lot team.
Laharpur, February 16, 2021
High sum insured:
I recently bought a aditya birla sun life term insurance policy from the policybazaar. It is a nice product and has helped me in securing my family’s future. I took the plan with high coverage. Thanks a lot team policybazaar.
Badayun, October 20, 2016
Perfect Policy
Birla Sun life insurance company is good insurers and they provide wide range of insurance policies. Policy coverage is high and the claims are even better. claiming amount is big which is sanctioned when the policy get matured. Online portal is for online renewals of the insurance policies.
Nainital, September 27, 2016
Big Savings
Friend of mine suggested me a term insurance policy which I bought from birla sun life insurance company ltd. Service is absolutely fantastic which is facilitated by the whole term of the insurance company. The renewals are made easy through the service of online portal service.
Ajmer, August 25, 2016
Birla Insurance Policy
Recently i have purchased term insurance policy through birla sun life insurance. Premium is less and returns are high. Coverage is very high and claiming is very simple. Service is fast provided by company members.
Greater_noida, July 18, 2016
Term plan
Term insurance plan which i purchased from birla sun life insurance. The policy premiums is very less and claims are high. The policy coverage is high and service provided by the executives and members of the company is great.
Pipili, July 05, 2016
Very Nice
The term insurance plan which i purchase in less investment amount and it has low premiums too. Service given by the staff of the company is fantastic and even there web service is easy which can do renewals and many more things.
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