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• 24 Jan 2025

Comparing Term Insurance Plans: Aditya Birla Sun Life vs SBI Life eShield

Picking a term insurance plan feels like finding your way through a maze of choices. SBI Life eShield and Aditya Birla Sun Life are two names that pop up frequently in India's insurance landscape. These providers offer detailed term insurance plans with their own unique perks, but finding your perfect match needs a good look at what each offer. The best way to compare these insurance giants is to check their coverage amounts, premium rates, claim settlement ratio, and extra benefits. You might be buying insurance for the first time or just want to switch your provider. Either way, knowing the main differences between SBI Life eShield and Aditya Birla Sun Life will help you decide better. Let's get into these plans and see which one will protect your family's future the best.

Aditya Birla Sun Life Term Insurance
Aditya Birla Sun Life Insurance boasts a remarkable 99.59% claim settlement ratio in FY 2021-22. This makes it a trusted choice to protect your family's financial future. Key Features
Your plan includes these practical benefits:

Multiple payout options that include lump sum, monthly income, or both

A single policy that covers both you and your spouse with joint life coverage

Built-in terminal illness benefits in every plan

Option to get your premiums back in select plans

Tax benefits under Section 80C for premiums and Section 10(10D) for claims

The DigiShield Plan gives you 10 different protection options. The Salaried Term Plan includes accelerated critical illness coverage for 42 specific conditions. You can add more protection with riders like critical illness coverage, surgical care, and hospital care benefits.

Coverage Details
The Salaried Term Plan covers you until age 70, while the DigiShield Plan protects you up to age 100. Young professionals can start their financial planning at age 18. The plans start with a sum assured of ₹30 lakhs with no upper limit. You can pay your premiums monthly, quarterly, half-yearly, or annually based on what works best for you. Your premiums stay the same throughout the policy term. Aditya Birla Sun Life guarantees claim payout after three years of regular policy payments. This gives you peace of mind about your family's security.

SBI Life eShield Term Insurance
SBI Life eShield is a pure term insurance plan that provides reliable financial protection at affordable rates. This non-participating, non-linked pure term plan lets you choose coverage that lines up with your family's needs. Key Features
The plan has three distinct options to protect you and your family:

Level Cover: Maintains constant sum assured throughout policy term

Increasing Cover: Automatically raises sum assured by 10% every 5 years

Level Cover with Future Proofing Benefit: Provides additional protection features

You can improve your coverage with the Better Half Benefit option and get life coverage until age 100 with the whole life option. The plan provides a terminal illness benefit in all options, giving you extra financial security at critical times.

Coverage Details
Your protection with SBI Life eShield begins at a minimum sum assured of ₹20 lakhs, without any upper limit on maximum coverage. People between 18 and 65 years can opt for level cover options. The plan gives you flexible premium payment choices - you can pay once, for a limited time, or throughout the policy term. Additional protection comes through an accidental death benefit matching your base sum assured, with a cap of ₹50 lakhs. The policy comes with a 15-day free-look period to review and return if it doesn't meet your needs. Non-smokers seeking coverage of ₹50 lakhs and above get special premium rates, making healthy living more rewarding.

Comparison Table

Feature	Aditya Birla Sun Life	SBI Life eShield
Maximum Coverage Age	Up to 70 (Salaried Term Plan) Up to 100 (DigiShield Plan)	Up to 100 (Whole life option)
Minimum Entry Age	18 years	18 years
Maximum Entry Age	Not mentioned	65 years (Level cover)
Minimum Sum Assured	₹30 lakhs	₹20 lakhs
Maximum Sum Assured	No upper limit	No upper limit
Premium Payment Modes	Monthly Quarterly Half-yearly Annually	Single payment Limited period Regular payment
Terminal Illness Benefit	Yes (Built-in)	Yes (Included)
Claim Settlement Ratio	99.59% (FY 2021-22)	Not mentioned
Special Plan Options	-DigiShield Plan (10 protection options) - Salaried Term Plan - Joint life coverage - Premium return option	- Level Cover - Increasing Cover (10% every 5 years) - Level Cover with Future Proofing - Better Half Benefit
Additional Benefits	- Multiple payout choices - Critical illness coverage (42 conditions) - Surgical care rider - Hospital care rider	- Special rates for non-smokers (≥₹50 lakhs) - Accidental death benefit (up to ₹50 lakhs) - 15-day free-look period

Conclusion
Aditya Birla Sun Life and SBI Life eShield offer unique benefits in their term insurance plans. With an impressive 99.59% claim settlement ratio, Aditya Birla Sun Life provides extensive critical illness coverage for 42 conditions. SBI Life eShield distinguishes itself by offering flexible coverage options. The plan automatically increases protection by 10% every five years. The best choice between these plans depends on your needs. Joint life coverage and return of premium options make Aditya Birla Sun Life an attractive choice. SBI Life eShield works well for those who want future-proofing benefits and special premium rates based on a healthy lifestyle.

Your family's needs, budget, and long-term financial goals need careful evaluation to make this significant decision. Visit https://basketoption.insure/health-insurance, the best Insurance Advisors in Bangalore, can help you choose the ideal term plan. They provide detailed comparisons of both plans and expert guidance. Both insurers provide reliable financial protection through their term plans. Their strong service track records and complete coverage options speak for themselves. A well-chosen term insurance plan is the life-blood of your family's financial security, and it deserves careful thought.