SBI Life Smart Shield Plan

SBI Life – Smart Shield, a traditional non-participating pure term plan, you now have a one stop solution that meets all you insurance needs. With options and benefits specially tailored for those who want best financial protection at an affordable cost, this is the perfect plan from your preferred insurance provider. So that your family stays protected, even when you are not around. This plan gives your money invested with profit upon maturity and also covers your life including illness during the policy term. It is a perfect combination of savings and protection to your life.

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Key Features

  • Establishes a solid foundation for a lifetime of financial security for you family at affordable cost
  • Rewards you for maintaining a healthy lifestyle
  • Rebate on Large Sum Assured

Benefits

  • Maturity benefit
There are no maturity benefits under this plan.
  • Death benefit
In case of death of the policy holder, the nominee gets the sum assured according to the plan option selected. In level term, the Sum Assured is fixed. In increasing and decreasing term plans, the sum assured increases or decreases.
  • Tax benefit
Life Insurance premiums paid up to Rs. 1, 00,000 are allowed as a deduction from the taxable income each year under section 80C. The Death Benefit is also Tax Free.

Add-ons

  • Rider benefit
  • SBI Life - Accidental Death Benefit (ADB) Rider
  • SBI Life - Accidental Total & Permanent Disability

    • Am I eligible?

    PARAMETER MINIMUM MAXIMUM
    ENTRY AGE 18 65
    POLICY TERM 5 30
    AGE OF MATURITY - 70
    SUM ASSURED 25,00,000 NO LIMIT
    PREMIUM PAYEMENT TERM SAME AS POLICY TERM
    PAYMENT TERMS ANNUAL, HALF-YEARLY, QUARTERLY, MONTHLY

    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 3 years from the date of discontinuance after paying all the unpaid premiums.
    • I stop the payment
    If premium are paid up for at least two years, then it is converted to paid up Value else policy will cease.
    • I wish to take a loan
    Loan will not be available under this policy.

    Exclusions

    • If the Life Assured, whether sane or insane, commits suicide within 12 months from the date of issue of this policy or the date of any revival/reinstatement of this policy, the policy will become null and void. No benefit will be paid under such circumstances except on an ex-gratia basis at the discretion of the Company.