ABSLI Life Shield Plan vs HDFC Life Smart Term Edge Plan

ABSLI Life Shield Plan

Premium starts ₹637/month

Claim Settlement Ratio

98.9%

HDFC Life Smart Term Edge Plan

Premium starts from ₹501/month

Claim Settlement Ratio

99.7%

₹1 Crore Life cover starting from ⁺

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Know More About Plans

ABSLI Life Shield Plan is a term plan with eight ways to build your cover. The cover can stay the same, step up by 5% or 10% each year, step down as a loan shrinks, or come back to you as premiums if you outlive the term. Each type can be paired with a waiver of premium that keeps the policy going if a critical illness or permanent disability strikes. You can add your spouse to the same policy, and your family can receive the money at once or part at once and part as yearly income.

Here are some key features of this plan:

8 plans to choose from

Step-Up and Step-Down Cover Choices

Waiver of Premium Pairing

Joint Cover for You and Your Spouse

Lump Sum or Yearly Income Payout

Top-Up at Marriage and Childbirth

Comparison

Comparison Between Plans

Aditya Birla Sun Life Insurance Life Shield Plan

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HDFC Life Insurance Smart Term Edge Plan

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About Plan (9 Key Differences)

Key Features

8 plan options to choose from
Spouse can be included in the same policy
Option to enhance cover at key milestones

3 plan options available
Percentage of return of premiums on maturity
Flexible premium term of 12 - 30 years

Plan Entry Age

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

Classic plan: 18 to 60 years
Step-up plan: 18 to 58 years
Comprehensive plan: 18 to 60 years

Plan Maturity Age

85 years

Classic plan: 75 years
Step-up plan: 70 years
Comprehensive plan: 75 years

Plan Policy Term

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

Classic plan: 12 to 30 years
Step-up plan: 12 to 30 years
Comprehensive plan: 12 to 30 years

Premium Paying Term

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

Classic plan: 12 to 30 years
Step-up plan: 12 to 30 years
Comprehensive plan: 12 to 30 years

Plan Sum Assured

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

Minimum:
Classic plan: 5 Lakh
Step-up plan: 10 Lakh
Comprehensive plan: 10 Lakh

Maximum: No Limit

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

1. Classic plan
2. Step-up plan
3. Comprehensive plan

Premium Paying Frequency

Monthly, Quarterly, Half-yearly, Yearly

Monthly, Half-yearly, Yearly

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

Classic plan: 100% of the Total Premiums Paid
Step-up plan: Proportion of total premiums paid as per the policy term
Comprehensive plan: 100% of the Total Premiums Paid

Claim Settlement Ratio (2025-26)

98.86 %

98.45%

Riders of Different Plans

ABSLI Accidental Death Benefit Rider Plus

Get an additional payout on death caused due to an accident.

ABSLI Accidental Death and Disability Rider

Add this rider for added benefit against accidental death or permanent disability.

ABSLI Critical Illness Rider

Get a lump sum benefit on diagnosis of any of the specified critical illnesses.

ABSLI Surgical Care Rider

Get this rider for additional payout to specifically cover your surgical expenses.

ABSLI Hospital Care Rider

This rider pays daily cash benefits, ICU benefits and a lump sum for recuperation during 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 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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