ABSLI Life Shield Plan Vs Canara HSBC Saral Jeevan Bima

ABSLI Life Shield Plan
Premium starts ₹637/month
Claim Settlement Ratio
98.9%
VS
Canara HSBC Saral Jeevan Bima
Premium starts from ₹722/month
Claim Settlement Ratio
99.5 %
₹1 Crore Life cover starting from +
Lowest Price Guarantee ˜
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ABSLI Life Shield offers fixed, rising, falling or return-of-premium cover, each available with a waiver of premium if you are diagnosed with a covered critical illness or become permanently disabled. You can add your spouse to the same policy, and your family can take the payout as a lump sum or a staggered income. With Plan Option 1 or 2 and regular premiums, you can raise your cover on marriage or the birth of a child wgithout fresh medical tests.

Here are some key features of this plan:

8 plan options
Terminal Illness Benefit
Joint Life Protection
Enhanced Life Stage Protection
Waiver of Premium on Critical Illness or Disability
Spouse Covered in the Same Policy

Canara HSBC Saral Jeevan Bima plan is a term insurance plan that pays a death benefit to your family in case of death of the policyholder. You can easily select your desired policy details like sum assured, policy term, premium paying term etc. This plan by Canara HSBC Life Insurance requires 45 days of waiting period after the commencement of risk.

Here are some key features of this plan:

₹5 Lakh to ₹25 Lakh Cover
Policy Term of 5 to 40 Years
Single, 5-Pay, 10-Pay or Regular Premium
Accidental Death Covered From Day One
Simple Enrolment Process
Tax Benefits as per Applicable Laws

Comparison

Comparison between Plans
ABSLILIFEABSLI Life Shield Plan
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HSBCLIFECanara HSBC Saral Jeevan Bima
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About Plan (9 Key Differences)
Key Features
  • Flexible policy terms
  • Return of premiums on survival
  • Add riders for added benefits
  • Economical term insurance plan
  • Policy cover up to 40 years
  • Choose your desired sum assured
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
Plan Maturity Age
85 years
Minimum: 23 years
Maximum: 70 years
Plan Policy Term
Variants 1 - 6: 10 - 55 Years
Variants 7 & 8: 20 - 55 years
Minimum: 5 years
Maximum: 40 years
Premium Paying Term
Single Pay
Limited Pay – 6, 8, 10 Years
Regular Pay
Single Pay
Limited Pay: 5 / 10 years
Regular Pay: Equal to the policy term
Plan Sum Assured
Minimum: Rs. 25,00,000
Maximum: No Limit
Minimum: Rs. 5 Lakh
Maximum: Rs. 25 Lakh
Plan Variants
  1. Level Term Assurance
  2. Level Term Assurance with Waiver of Premium (WOP) Benefits
  3. Increasing Term Assurance
  4. Increasing Term Assurance with Waiver of Premium (WOP) Benefits
  5. Decreasing Term Assurance
  6. Decreasing Term Assurance with Waiver of Premium (WOP) Benefits
  7. Return of Premium
  8. Return of Premium with Waiver of Premium (WOP) Benefit
Not Available
Premium Paying Frequency
Monthly, Quarterly, Half-yearly, Yearly
Monthly, Half-yearly, Yearly
Income Payout Term
For variants 1 & 2: Fixed annual income or Increasing annual income is paid for 10 or 15 years
Not Available
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
Not Available
Payout Options
Lump sum, Installments
Lump sum
Maturity Benefit
Variants 1-6: No maturity
Variants 7 & 8: Return of premiums paid
Not Available
Claim Settlement Ratio (2025-26)
98.86%
99.52%

Rider of Different Plans

Accidental Death and Disability Rider

Pays a benefit if you die or become disabled because of an accident

Accidental Death Benefit Rider Plus

Pay an extra amount to your family if you die in an accident

Critical Illness Rider

Pays a benefit when a covered critical illness is diagnosed

Surgical Care Rider

Pays a benefit when you undergo a specified surgery.

ABSLI Hospital Care Rider

Get daily cash benefits, ICU benefits and a lump sum amount for recuperation during your hospital stay.

Accidental Death Cover From Day One (built in)

YDuring the 45-day waiting period the plan covers death due to an accident, and pays the full sum assured. After the waiting period, the sum assured is paid on death from any cause while the policy is in force.

˜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

+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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