ABSLI Life Shield Plan vs Canara HSBC Life iselect Smart360 Term Plan

ABSLI Life Shield Plan

Premium starts ₹637/month

Claim Settlement Ratio

98.86%

Canara HSBC Life iSelect Smart360 Term Plan

Premium starts from ₹722/month

Claim Settlement Ratio

99.52%

₹1 Crore Life cover starting from ⁺

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Know More About Plans

ABSLI Life Shield plan is a term insurance plan that allows you to increase your risk coverage at every key milestone like getting married or having a child under various plan variants as per your need. This ABSLI plan provides a joint life protection for your spouse under the same plan and a waiver of premiums if you are suffering from a critical illness and offers a return of premiums at maturity. Additionally, you can freely choose your premium payment term and policy term as per your convenience.

Here are some key features of this plan:

8 Plan Options

Fixed, Growing or Shrinking Cover

Joint Life Cover for Your Spouse

Cover Increase at Life Events

3 Claim Payout Styles

50% Early Payout on Terminal Illness (up to ₹2.5 Cr)

Comparison Between Plans

Parameter

Aditya Birla Sun Life Insurance Life Shield Plan

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Canara HSBC Life Insurance iSelect Smart360 Term Plan

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About Plan (9 Key Differences)

Key Features

Enhance coverage at life stages
Multiple premium paying terms
Waiver of premiums available

Multiple plan options
Additional benefit through riders
Attractive concessions to women, salaried customers and for spouse addition

Plan Entry Age

Variants 1, 3, 5, 7: 18 to 65 years
Variants 2, 4, 6, 8: 18 to 50 years

Minimum: 18 years
Maximum: 65 years, except
Single premium: 40 years

For PPT of ‘Up to 60 years’ under Life Secure: 55 years
For PPT of ‘Up to 60 years’ under Life Secure with Income/Life Secure with Return of Premium: 50 years

Life Secure with Income: 55 years

Non-working Spouse: 50 Years (40 years for Single Premium)

Plan Maturity Age

85 years

Maximum: 99 years

Single premium & non-working spouse: 80 years

If ADB/ TI/ ATPD PP/ATPD PPP Optional In-Built Cover are opted: 75 years

Plan Policy Term

Variants 1 - 6: 10 - 55 Years
Variants 7 & 8: 20 - 55 years

Minimum:
Life Secure: 5 years
Life Secure with Income: 65 minus age at entry
Life Secure with Return of Premium: 10 Years

Maximum:
Life Secure:
Regular pay/Limited pay: 81 Years (99 minus age at Entry)
Single pay: 62 years (80 minus age at entry)

Life Secure with Income: 81 Years (99 minus age at Entry)

Life Secure with Return of Premium: 81 Years (99 minus age at Entry)

Premium Paying Term

Single Pay
Limited Pay – 6, 8, 10 Years
Regular Pay

Life Secure:
Single Pay: (Not applicable where Maturity Age is above 80 Years)
Regular Pay
Limited Pay: 5/10/15/20/25/up to age 60 years

Life Secure with Income/Life Secure with Return of Premium:
Regular Pay
Limited Pay: 10/15/20/25/up to age 60 years

Plan Sum Assured

Minimum: Rs. 25,00,000
Maximum: No Limit

Minimum:
Life Secure: Rs. 25,00,000
Life secure with Income and Life Secure with Return of Premiums: Rs. 15 Lakh

Maximum: No limit
Non-working spouse: Rs. 50 Lakh

Optional In-built Covers: ADB/Terminal Illness Sum Assured : Rs. 2 Crore
ATPD Sum Assured: Rs. 1 Crore

Plan Variants

Level Term Assurance
Level Term Assurance with Waiver of Premium (WOP) Benefits
Increasing Term Assurance
Increasing Term Assurance with Waiver of Premium (WOP) Benefits
Decreasing Term Assurance
Decreasing Term Assurance with Waiver of Premium (WOP) Benefits
Return of Premium
Return of Premium with Waiver of Premium (WOP) Benefit

Life Secure
Life Secure with Income
Life Secure with Return of Premium

Premium Paying Frequency

Monthly, Quarterly, Half-yearly, Yearly

Single, Monthly, Quarterly, Half-yearly, Yearly

Income Payout Term

For variants 1 & 2: Fixed annual income or Increasing annual income is paid for 10 or 15 years

Monthly income as installments on death benefits payable for 60 months

Terminal Illness Sum Assured

50% of Sum Assured on Death is paid on diagnosis and all future premiums are waived off

Maximum TI: 2.5 crore

Sum Assured subject to maximum of Rs.2 Crore for the Life Assured/Working Spouse

Child Care Benefit

Not Available

Available but has to be added at inception. Can be added later if the child is born after the inception of the policy.

Payout Options

Lump sum, Installments

Lump sum, monthly income

Maturity Benefit

Variants 1-6: No maturity
Variants 7 & 8: Return of premiums paid

Lump sum, Fixed income, increasing income: 100% of total premiums paid are returned

Life partner option:
If both spouses survive: 100% of total premiums paid are returned

In case of death or diagnosis of terminal illness of the First Life, and survival of Second Life till maturity:
100% of total additional premiums paid.

In case of death or diagnosis of terminal illness of the Second Life, and survival of First Life till maturity:
100% of total premiums paid for first life cover.

Claim Settlement Ratio (2025-26)

98.86%

99.52%

Riders of Different Plans

ABSLI Accidental Death Benefit Rider Plus

Add this rider to get a lump sum payout in case of accidental death.

ABSLI Accidental Death and Disability Rider

Add this rider for enhanced risk coverage against accidental death or permanent disability.

ABSLI Critical Illness Rider

Add this rider to get a payout on diagnosis of the mentioned critical illnesses.

ABSLI Surgical Care Rider

Add this rider for an additional payout at the time of surgery to cover costs.

ABSLI Hospital Care Rider

Add this rider to get daily cash benefits, ICU benefits and a lump sum amount for recuperation during your hospital stay.

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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 Insurance Brokers Private Limited 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

+On the basis of your profile

+Rs. 410/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. 410/month (Rs.14/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 rounded off to nearest 10

+Rs. 245 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.

+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. 15/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. 504/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. 494/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. 636/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. 918/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. 1,286/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.

+Rs. 453/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.582/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. 786/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. 1,592/month 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.

+Rs. 525/month is the starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 68 years of age.

+Rs. 668/month is starting price for a 2 crore term life insurance for an 25 year-old male, non-smoker, with no pre-existing diseases, cover upto 45 years of age.

+Rs. 1,200/month is starting price for a 2 crore term life insurance for an 35 year-old male, non-smoker, with no pre-existing diseases, cover upto 55 years of age.

+Rs. 410/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.

+Rs. 577/month is starting price for a 1 crore term life insurance for an 18 year-old Male, self employed, 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. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

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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