ABSLI Life Shield Plan vs PNB MetLife Mera Jeevan Suraksha Plan

ABSLI Life Shield Plan

Premium starts ₹637/month

Claim Settlement Ratio

98.9%

PNB MetLife Mera Jeevan Suraksha Plan

Premium starts from ₹564/month

Claim Settlement Ratio

99.8%

₹1 Crore Life cover starting from ⁺

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Know More About Plans

ABSLI Life Shield Plan is a term insurance plan offering 8 distinct options for you to choose from as per your financial appetite and family’s requirements. You can get back your paid premiums if you survive the policy term and even add-on riders for added protection. A waiver of premium can be added to each type, and your spouse can be insured too. Your family can take the payout as a lump sum or as a lump sum plus yearly income. With Plan Option 1 or 2 and regular premiums, you can raise your cover at marriage or the birth of a child without fresh medical tests.

Here are some key features of this plan:

Level, Rising or Falling Cover

Premium Waiver Option

Spouse Can Be Added

Lump Sum or Yearly Income Payout

Higher Cover at Marriage and Childbirth

Premiums Back Option

Comparison

Comparison between Plans

ABSLI Life Shield Plan

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PNB MetLife Mera Jeevan Suraksha 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 payout options for all needs
Add spouse to your plan
Return of paid premiums on maturity

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: 28 years
Maximum: 80 years

Plan Policy Term

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

Minimum: 10 years
Maximum: 40 years (30 years if return of premiums option is chosen)

Premium Paying Term

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

Regular Pay

Plan Sum Assured

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

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

Lump sum option
Life partner option
Fixed income option
Increasing income option

Premium Paying Frequency

Monthly, Quarterly, Half-yearly, Yearly

Monthly, Half-yearly, Yearly

Annualised Premium

Premium amount is based on the sum assured and plan variant chosen.

Minimum: Rs.3,885
Maximum: No limit, subject to maximum sum assured

Income Payout Term

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

For fixed income and increasing income: 10 years

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

Lump Sum: Sum assured on death is payable
Life Partner: For first life, maximum of Rs. 1 Crore and for second life, 50% of lump sum amount chosen for first life

Payout Options

Lump sum, Installments

Lump sum, fixed income, increasing 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 %

99.81%

Rider of Different Plans

ABSLI Critical Illness Rider

Add this rider to get benefit at the time of diagnosis of any of the mentioned critical illnesses

ABSLI Surgical Care Rider

Add this rider for a payout to cover your surgery expenses.

ABSLI Hospital Care Rider

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

ABSLI Accidental Death Benefit Rider Plus

Add this rider to add protection against accidental death.

ABSLI Accidental Death and Disability Rider

Add this rider for added risk protection at the time of accidental death or permanent disability.

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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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