SBI Life eShield Plan

SBI Life eShield is a non-linked, non-participating pure term insurance plan which provides high insurance coverage at a very affordable premium rate. This term plan is available for purchase on the company’s website. The online buying process of SBI Life e-Shield is very simple and hassle-free. This is a comprehensive plan that provides tailored benefits to the policyholder and secures the family of the insured against any type of eventuality. Moreover, the plan also provides a tax benefit to the policyholder.

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Get ₹1 Cr. Life Cover at just ₹449/month+
No medical
checkup required
Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
Happy Customers

+Tax benefit is subject to changes in tax laws.

++All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Get ₹1 Cr. Life Cover at just ₹449/month+
No medical checkup required
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SBI eShield Life Insurance Key Features

  • It is a pure term insurance plan with regular pay premium paying options
  • Provides security to your loved ones at low premium rates 
  • The hassle-free online process for securing a right life coverage 
  • Add on benefits are also available of an accidental death benefit 
  • The plan also rewards you for maintaining a healthy lifestyle 
  • It has four protection variants to suit every individual’s needs as level cover, level cover with an accidental death benefit, increasing cover, and increasing cover with an accidental death benefit. 

Product Specification:




Plan Options 

  • Level Cover 
  • Level Cover with Accidental Death Benefit 
  • Increasing Cover 
  • Increasing Cover with Accidental Death Benefit 

Entry Age (Last Birthday)

18 years

For Increasing Cover and increasing cover with accidental death benefit – 60 years  

For Level and Level Cover with accidental death benefit- 65 years

Maturity Age (Last Birthday)

70 years

Policy Term (PT) in years

For Level and Level Cover with accidental death benefit – 5 years  

For Increasing Cover and increasing cover with accidental death benefit – 10 years 

30 years 

Premium Paying Term (PPT) in years

Equal to the policy term

Premium Paying Frequency


Yearly Premium


No Limit 

Sum Assured


No limit

SBI eShield Life Insurance Benefits 

  • Death Benefits - The nominee gets the Sum Assured on the death of the policyholder based on the plan option selected. Death benefits have been paid if you have completed all regular premium payments to date and your policy is in force as of the claim date. 
  • Maturity Benefit – No maturity benefit is available under the plan 
  • Inbuilt Accidental Death Benefit rider with options 2 & 4 equal to SA or 50 Lakhs, whichever is lower
  • Discount for Non-Smokers – The plan offers a discount to non-smokers, thus helps maintain a healthy lifestyle. The premium rate of non-smokers is comparatively lower for the sum assured of Rs. 50 lakhs and above. 
  • Tax Benefit - Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.
  • Four plans are available under this plan 
    • Level Cover – In this, the sum assured amount remains constant throughout the policy tenure. 
    • Level Cover with Accidental Death Benefit – This option provides you additional coverage against the demise (due to accident) during the policy tenure. 
    • Increasing Cover - This benefit increases your SA automatically after every 5th year of policy without any rise in your premium amount.
    • Increasing Cover with Accidental Death Benefit- Additional coverage is provided against the life assured’s death due to an accident during the tenure of the policy. In this, the accidental death benefit cover will not increase during the policy tenure.

Details About SBI eShield Life Insurance Premium

The below graph illustrates the annual premium in Rupees for SBI Life Insurance policy term of 20 years and SA of 50 Lakhs. 


Male Lives

Female Lives




















Policy Details of SBI eShield Plan

  1. Accidental Death Cover 

    The sum assured amount for accidental death is equal to the death SA. So, the maximum Sum assured one can avail under this case is Rs. 50,00,000 and the minimum SA will be Rs. 5,00,000 for subsequent policies. 

  2. Grace Period

    30 days grace period is allowed for payment of premium from the due date of premium. During the grace period, the policy will remain in force and will lapse if no further premium is paid. 

  3. Revival 

    The plan offers an option to revive the lapsed policy within the 2 policy years from the date of 1st non-paid premiums. 

  4. Policy Termination or Surrender Benefit

    There is no option of surrendering the plan.

  5. Freelook period

    If you are not satisfied with the coverage, and terms and conditions of this SBI life insurance policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Additional Features or Riders

  • Saving in premiums are given for non-smokers
  • Saving on premium for female lives.


  • In case of suicide committed within 12 months of policy inception or revival only 80% of premiums paid are returned to the nominee.
  • For the rider, accidents due to infection, drug abuse, self-inflicted injury, war or civil commotion, criminal acts, aviation, etc. are excluded

Documents Required

The policyholder has to fill up an ‘Application form/ proposal form’ online and provide self-attested copies of KYC/AML Documents.

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