SBI Life eSheild Plan

SBI Life - eShield, an Online Pure Term, Non-Linked, Non-Participating insurance plan, where you are just a click away from getting insured and saving your time from the tedious paper work. With options and benefits specially tailored for those who want the best financial protection at an affordable cost, this is the perfect plan from your preferred insurance provider. Thus, your family stays financially protected, even in unforeseen circumstances.

Key Features

  • Protection at affordable cost
  • Easy and seamless online process for securing Life Cover
  • Rewards you for maintaining a healthy lifestyle
  • Wide variety of plan options, which has level and increasing cover

Benefits

  • Maturity benefit
This plan provides no maturity benefit.
  • Death benefit
In case of death of the life insured, the nominee would get the sum assured with death benefit if any and policy would terminate.
  • Tax benefit
Tax deduction under Section 80(C) is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured.

Am I eligible?

PARAMETER MINIMUM MAXIMUM
ENTRY AGE 18 65
POLICY TERM 5 30
AGE OF MATURITY - 70
SUM ASSURED 20,00,000 NO LIMIT
PREMIUM PAYEMENT TERM SAME AS POLICY TERM
PAYMENT TERMS YEARLY

What if?

  • I am unable to pay on time
If the policy holder stops paying the premium, then all benefits of the policy will stop after the grace period ends. The policy can be reinstated within 2 years from the date of discontinuance after paying all the unpaid premiums.
  • I stop the payment
If the policy holder stops paying the premium, the policy lapses and all benefits cease. However, the policy can be revived within 3 years from the due date of the policy inception.
  • I wish to take a loan
Loan will not be available under this policy.

Exclusions

  • If the life assured, commits suicide, within a year of policy start 80% of the premiums paid, will be given to nominee. In case of suicide within one year from revival date, 80% of premiums paid or surrender value, whichever is higher would be paid and the policy will terminate.