ABSLI Life Shield Plan vs Canara HSBC Young Term Plan

ABSLI Life Shield Plan

Premium starts ₹637/month

Claim Settlement Ratio

98.86%

Canara HSBC Young Term Plan

Premium starts from ₹706/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 non- linked term insurance plan with a savings component as you can get 100% of your paid premiums if you survive the maturity term. You can add your spouse to the same plan for joint life protection. Choose to pay premiums as a lump sum amount or as a regular pay or even for a limited number of years such as 6, 8, or 10 years. This plan even helps you enhance your risk protection at every life stage like marriage and child birth.

Here are some key features of this plan:

Lump Sum or Income Payout

8 Options to Pick From

Spouse Cover in the Same Policy

Return of Premium Choice

Waiver of Premium Add-on

Cover up to Age 85

Comparison

Comparison Between Plans

Aditya Birla Sun Life Insurance Life Shield Plan

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Canara HSBC Life Insurance Young Term Plan

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About Plan (9 Key Differences)

Key Features

8 plan options available
Inbuilt terminal illness benefit
Return of premiums at maturity

Whole life insurance
2 plan variants
Enhanced additional protection options

Plan Entry Age

For plan variant 1, 3, 5, 7: 18 to 65 years
For plan variant 2, 4, 6, 8: 18 to 50 years

Minimum: 18 years

Maximum: 60 years

For PPT option “Up to 60 years”
Life Secure: 55 years
Life Secure with Return of Premium: 50 years

Plan Maturity Age

85 years

99 years (80 Years for Non-Working Spouse)

Policy Term

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

Minimum:
Life Secure: 5 years
Life Secure with Return of Premium: 10 Years

Maximum:
Life Secure: 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:
Regular Pay
Limited Pay: 5, 10, 15 years / Up to age 60 years

Life Secure with Return of Premium:
Regular Pay
Limited Pay: 5, 10, 15 years / Up to age 60 years

Plan Sum Assured

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

Minimum:
Life Secure: Rs. 25 Lakhs
For Optional In-built covers under Life Secure – ADB/ATPD: Rs. 5 Lakhs | TI/CCB/BYP: Rs. 25 Lakhs

Life Secure with Return of Premium: Rs. 15 Lakhs
For Optional In-built covers under Life Secure with Return of Premium – ADB/ATPD: Rs. 5 Lakhs | TI: Rs. 15 Lakhs

Maximum: No Limit (Subject to BAUP)
For Non-working Spouse: Rs. 50 Lakhs
Optional In-built Covers (subject to underwriting) ADB/TI: Rs. 2 Crore
ATPD: 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 Option
Life Secure with Return of Premiums Option

Plan Payment Modes

Monthly, Quarterly, Half-yearly, Yearly

Terminal Illness Cover

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

A lump sum maximum of Rs. 2 Crore is paid on diagnosis of terminal illness

Payout Options

Lump sum, Installments

Lump sum, Monthly Income

Maturity Benefit

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

Life secure option: No Maturity Benefit
Life secure with return of premiums option: Sum assured on maturity is paid

Claim Settlement Ratio (2025-2026)

98.86%

99.52%

Rider of Different Plans

ABSLI Accidental Death Benefit Rider Plus

Get a lump sum payout in case of death due to an accident.

ABSLI Accidental Death and Disability Rider

Get an additional payout in case of accidental death or disability.

ABSLI Critical Illness Rider

Add this rider to get a lump sum benefit if you are diagnosed with a critical illness.

ABSLI Surgical Care Rider

Add this rider to get a lump sum to cover your surgery expenses.

ABSLI Hospital Care Rider

Get paid daily benefit, ICU benefit and even a lump sum amount for recovery 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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