Compare Aditya Birla Sun Life Insurance, SBI Life eShield & HDFC Life Click 2 Protect Plus term plans. Discover premium rates, claim settlement ratios, riders, and benefits to choose the best policy. Get expert insights on coverage, returns & digital buying experience before purchasing!
Choosing the right term insurance plan is a critical financial decision for Indian professionals aiming to secure their family’s future. With numerous options available, comparing Aditya Birla Sun Life Insurance, SBI Life eShield, and HDFC Life Click 2 Protect Plus becomes essential to identify the best fit. This blog post dives deep into these three popular term plans, analyzing their sum assured, premium costs, claim settlement ratios, and overall value to help you decide which plan wins. Packed with the latest data, this guide aims to rank high on Google while delivering actionable insights.
Why Term Insurance
Term insurance is the simplest and most affordable form of life insurance, offering high coverage at low premiums. It ensures financial protection for your dependents in case of your untimely demise. With rising inflation and lifestyle changes in India, securing a term plan with a high sum assured, competitive premiums, and a reliable claim settlement ratio is crucial. The three plans we’re comparing—Aditya Birla Sun Life Insurance, SBI Life eShield, and HDFC Life Click 2 Protect Plus—are among the top choices in 2025, each offering unique features tailored to different needs.
Overview of the Three Term Plans
1. Aditya Birla Sun Life Insurance (DigiShield Plan)
Aditya Birla Sun Life Insurance, a joint venture between Aditya Birla Group and Sun Life Financial, is known for its comprehensive term plans. The DigiShield Plan is a popular online term insurance offering customizable coverage and competitive premiums. It caters to a wide audience with flexible payout options and rider benefits.
SBI Life Insurance, a collaboration between State Bank of India and BNP Paribas Cardif, offers the eShield Next, a new-age term plan designed for affordability and flexibility. Known for its high sum assured and innovative features like the Better Half Benefit, it’s a strong contender in the Indian market.
3. HDFC Life Click 2 Protect Plus
HDFC Life Insurance, a leading private insurer, offers the Click 2 Protect Plus, a robust term plan with multiple variants to suit diverse needs. With features like critical illness coverage and return of premium options, it’s a favorite among professionals seeking comprehensive protection.
Key Comparison Parameters
To determine which plan wins, we’ll compare the three term plans based on the following factors:
- Sum Assured: Which plan offers the highest coverage?
- Premium Costs: Which is the cheapest term plan?
- Claim Settlement Ratio: Who pays claims faster and more reliably?
- Additional Features: Riders, flexibility, and unique benefits.
Sum Assured: Which Plan Offers the Highest Coverage?
The sum assured is the amount your nominee receives upon your demise during the policy term. A higher sum assured ensures better financial security for your family. Let’s see how the three plans stack up.
- Aditya Birla Sun Life DigiShield Plan:
- Sum Assured Range: ₹25 lakhs to ₹10 crores or more, depending on eligibility.
- Key Feature: Offers flexibility to increase coverage at key life stages (e.g., marriage, childbirth) without additional underwriting.
- Suitability: Ideal for professionals seeking customizable coverage with high sum assured options.
- SBI Life eShield Next:
- Sum Assured Range: ₹25 lakhs to no upper limit, subject to underwriting.
- Key Feature: The Future Proofing Benefit allows policyholders to increase the sum assured at life stages like marriage or parenthood without medical checks.
- Suitability: Perfect for young professionals aiming for unlimited coverage at affordable rates.
- HDFC Life Click 2 Protect Plus:
- Sum Assured Range: ₹10 lakhs to ₹10 crores or higher, based on income and underwriting.
- Key Feature: Offers nine coverage options, including Life Option, Extra Life Option, and Income Option, allowing tailored sum assured structures.
- Suitability: Best for those seeking high coverage with additional benefits like critical illness or accidental death riders.
Winner for Sum Assured: SBI Life eShield Next takes the lead due to its no upper limit on sum assured, making it ideal for high-net-worth individuals or those seeking maximum coverage. However, HDFC Life Click 2 Protect Plus is a close contender for its versatile options.
Premium Costs: Which Term Plan is the Cheapest?
Premium affordability is a key factor for Indian buyers. Premiums depend on factors like age, sum assured, policy term, and lifestyle (e.g., smoking habits). Below is a comparison based on a sample profile: a 30-year-old non-smoker male, married, seeking ₹1 crore sum assured for a 35-year policy term, paying annual premiums.
- Aditya Birla Sun Life DigiShield Plan:
- Estimated Annual Premium: ₹8,500–₹10,000.
- Discounts: 4% discount on online purchases, lower rates for non-smokers and women.
- Key Feature: Offers Limited Pay options (e.g., pay for 5–20 years for a longer policy term), reducing long-term costs.
- Affordability: Competitive pricing with flexible payment terms.
- SBI Life eShield Next:
- Estimated Annual Premium: ₹7,800–₹9,500.
- Discounts: Online purchase discounts and special rates for non-smokers.
- Key Feature: Affordable premiums with the option to lock rates at purchase and increase coverage later without premium hikes.
- Affordability: One of the cheapest for high sum assured plans.
- HDFC Life Click 2 Protect Plus:
- Estimated Annual Premium: ₹9,000–₹11,000.
- Discounts: Special rates for women and non-tobacco users; discounts for higher sum assured.
- Key Feature: Return of Premium option allows policyholders to get back premiums paid if they survive the term, though it increases costs.
- Aff ability: Slightly higher premiums due to additional benefits like critical illness coverage.
Winner for Cheapest Premium: SBI Life eShield Next is the most affordable, offering lower premiums for a ₹1 crore sum assured, especially for online purchases. Aditya Birla Sun Life DigiShield is a close second for its competitive pricing and discounts.
Claim Settlement Ratio: Who Pays Faster & More Reliably?
The claim settlement ratio (CSR) indicates the percentage of claims an insurer settles in a year. A higher CSR reflects reliability, while faster claim processing ensures timely support for nominees. The latest IRDAI data for FY 2023–24 provides the following insights:
- Aditya Birla Sun Life Insurance:
- CSR: 98.12% (FY 2023–24).
- Claim Settlement Speed: Settles 99.86% of claims within 30 days, with a claim amount settlement ratio of 96.15%.
- Process: Online claim tracking and a dedicated toll-free number (1800 270 7000) are available, but the claim form is lengthy, and there’s no home pickup service.
- Reliability: High CSR and low complaint volume make it a dependable choice, though customer service response speed is moderate.
- SBI Life Insurance:
- CSR: 97.05% (FY 2022–23; latest 2023–24 data unavailable).
- Claim Settlement Speed: Known for efficient processing, with most claims settled within 30 days, though specific 2023–24 data is limited.
- Process: Offers online claim submission and a streamlined process, supported by SBI’s extensive branch network.
- Reliability: Slightly lower CSR compared to competitors but benefits from SBI’s trusted brand and financial stability.
- HDFC Life Insurance:
- CSR: 99.39% (FY 2023–24).
- Claim Settlement Speed: Settles 99.94% of claims within 30 days, with an InstaClaim feature for claims processed within one day.
- Process: Online claim tracking and toll-free support are available, but the claim form is moderately long, and there’s no personal relationship manager or home pickup.
- Reliability: One of the highest CSRs and fewer claim complaints, making it highly reliable.
Winner for Claim Settlement: HDFC Life Click 2 Protect Plus excels with a 99.39% CSR and the fastest claim processing via InstaClaim. Aditya Birla Sun Life is a close second for its high CSR and quick settlements.
Additional Features: Riders, Flexibility, and Unique Benefits
Beyond sum assured, premiums, and CSR, additional features like riders, payout options, and unique benefits enhance a term plan’s value.
- Aditya Birla Sun Life DigiShield Plan:
- Riders: Critical Illness, Accidental Death Benefit, Total and Permanent Disability, Waiver of Premium.
- Payout Options: Lump sum only.
- Unique Benefits: Offers 10 variants, including Level Term Assurance and Increasing Cover, with terminal illness benefit (50% of sum assured, up to ₹2.5 crores) paid on diagnosis.
- Flexibility: Limited pay options (5, 7, 10, 12, 15, 20 years, or till age 60) and coverage up to age 85.
- SBI Life eShield Next:
- Riders: Better Half Benefit, Accidental Death Benefit, Accidental Total & Permanent Disability.
- Payout Options: Lump sum, monthly installments, or a combination.
- Unique Benefits: Future Proofing Benefit allows sum assured increases without medical underwriting; Better Half Benefit covers the spouse post-policyholder’s demise.
- Flexibility: Three variants (Level Cover, Increasing Cover, Level Cover with Future Proofing) and whole-life coverage up to age 100.
- HDFC Life Click 2 Protect Plus:
- Riders: Critical Illness, Accidental Death Benefit, Waiver of Premium due to Critical Illness.
- Payout Options: Lump sum, monthly income, or a combination.
- Unique Benefits: Return of Premium option refunds premiums on survival; Income Plus Option provides payouts from age 60.
- Flexibility: Nine coverage options, limited pay terms (5 to policy term minus 1 year), and coverage up to age 85.
Winner for Additional Features: HDFC Life Click 2 Protect Plus stands out for its nine coverage options, comprehensive riders, and flexible payout structures. SBI Life eShield Next is a strong contender for its innovative Better Half and Future Proofing benefits.
Which Term Plan Wins in 2025?
To crown the winner, let’s summarize the strengths of each plan:
- Aditya Birla Sun Life DigiShield Plan:
- Pros: High CSR (98.12%), competitive premiums, flexible limited pay options, and terminal illness benefit.
- Cons: Limited payout options (lump sum only) and moderate customer service response speed.
- Best For: Those seeking a balance of affordability, reliability, and customization.
- SBI Life eShield Next:
- Pros: Cheapest premiums, no upper limit on sum assured, innovative features like Better Half and Future Proofing.
- Cons: Slightly lower CSR (97.05% in 2022–23), less comprehensive rider options.
- Best For: Young professionals wanting high coverage at low costs with spouse coverage options.
- HDFC Life Click 2 Protect Plus:
- Pros: Highest CSR (99.39%), fastest claim processing, versatile coverage options, and return of premium feature.
- Cons: Slightly higher premiums, no home pickup for claims.
- Best For: Professionals seeking comprehensive protection with critical illness and income benefits.
Overall Winner: HDFC Life Click 2 Protect Plus emerges as the top choice in 2025 for its exceptional claim settlement ratio, versatile coverage options, and fast claim processing. However, SBI Life eShield Next is the best for budget-conscious buyers seeking high sum assured, while Aditya Birla Sun Life DigiShield suits those prioritizing flexibility and reliability.
How to Choose the Right Term Plan for You
Selecting the best term plan depends on your financial goals, budget, and family needs. Here are some tips to guide your decision:
- Assess Your Coverage Needs: Aim for a sum assured of 10–15 times your annual income. For example, if you earn ₹10 lakhs annually, a ₹1–1.5 crore sum assured is ideal.
- Compare Premiums: Use online calculators on insurer websites or platforms like Policybazaar to get accurate premium quotes.
- Check Claim Settlement Ratio: Opt for insurers with a CSR above 98% for reliability.
- Evaluate Riders: Choose riders like critical illness or accidental death based on your lifestyle and health risks.
- Consider Payout Options: If your family needs regular income, opt for plans with monthly payout options like SBI Life eShield Next or HDFC Life Click 2 Protect Plus.
- Leverage Online Discounts: Buying online often fetches discounts, as seen with all three plans.
Final Thought
In the battle of Aditya Birla Sun Life Insurance vs SBI Life eShield vs HDFC Life Click 2 Protect Plus, each plan has unique strengths. HDFC Life Click 2 Protect Plus wins for its reliability, comprehensive features, and fast claim settlements, making it ideal for professionals seeking all-around protection. SBI Life eShield Next is the go-to for affordability and high sum assured, while Aditya Birla Sun Life DigiShield offers flexibility and competitive pricing. Evaluate your needs, compare quotes, and choose a plan that aligns with your financial goals in 2025.
For more details, visit the official websites of Aditya Birla Sun Life Insurance, SBI Life Insurance, or HDFC Life Insurance. Secure your family’s future today with the right term plan!
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With over 15 years of experience in Banking, investment banking, personal finance, or financial planning, Dkush has a knack for breaking down complex financial concepts into actionable, easy-to-understand advice. A MBA finance and a lifelong learner, Dkush is committed to helping readers achieve financial independence through smart budgeting, investing, and wealth-building strategies, Follow Dailyfinancial.in for practical tips and a roadmap to financial success!
