Prices Increasing soon Prices Increasing Soon

SBI Life eShield Plan

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

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:-

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

What Are The Key Features Of SBI Life eShield Plan?

Below mentioned are the key features of SBI Life eShield Plan:

  • 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 the 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:

    • Level cover

    • Level cover with an accidental death benefit

    • Increasing cover

    • Increasing cover with an accidental death benefit

  • It also provides tax benefits, under Sections 80C and 10(10D), as per the prevailing laws of ITA, 1961.

one crore term plan

Term Plans


Life Cover

@ Starting from ₹ 16/day+


Life Cover

@ Starting from ₹ 8/day+


Life Cover

@ Starting from ₹ 12/day+

What are the Eligibility Conditions of the SBI Life eShield Plan?

Here is a list of the eligibility criteria required to buy this SBI Term Insurance plan:

Parameters  Minimum Maximum
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 70 years
Sum Assured 20,00,000 No limit
Plan Options 
  • Level Cover 
  • Level Cover with Accidental Death Benefit 
  • Increasing Cover 
  • Increasing Cover with Accidental Death Benefit 
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 Annual

What Are The Benefits Of SBI eShield Life Insurance?

Below mentioned are the key benefits of SBI eShield Insurance:

  • 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.

  • Plan Options – The four plan options are available under this plan are as follows:

    • 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 an 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.

  • Accidental death cover – The sum assured amount for accidental death will be equivalent to the base death SA. However, the maximum accidental SA that you can opt for under this plan is Rs. 50 Lakhs. The minimum accidental SA is Rs. 5 Lakhs.

  • Discount for Non-Smokers – The plan offers a discount to non-smokers, thus helping them 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.

  • Healthy Lifestyle Reward – Under this plan, you can also get a discount on life cover of Rs. 50 Lakhs and above if you are a non-smoker. 

one crore term plan

Secure Your Family Future Today


Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

Details About SBI Life eShield Insurance Plan Premium

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

Age Male Lives Female Lives
Smokers Non-smokers Smokers  Non-smokers
30 7770 4660 6275 3920
40 17,145 9495 12,260 6955
50 41,615 22,305 29,020 15,680

Policy Details of SBI Life eShield Plan

  1. 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. 

  2. Revival 

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

  3. Policy Termination or Surrender Benefit

    There is no option of surrendering the plan.

  4. Free Look 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 30 days (for online purchase) and 15 days (for offline purchase) of receipt of the policy documents, provided there has been no claim.

  5. Assignment and Nomination

    According to Section 39 and Section 38 of the Insurance Act 1938, nomination and assignment of the policy are allowed respectively.

How to Buy SBI eShield Plan From Policybazaar?

You can buy the SBI Life eShield Insurance Plan from Policybazaar in a couple of easy steps, as mentioned below:

  • Step 1: Go to the Policybazaar’s official website and select ‘Term life insurance’ 

  • Step 2: Fill in your details, such as Name, DoB and Contact Number.

  • Step 3: Enter the rest of the details, such as smoking habits, annual income, qualification and occupation type, and click on ‘View Plans’.

  • Step 4: Select the SBI eshield plan and proceed to pay

*Note: Premiums are lower for non-smokers and females.


  • 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

*Note: For the policy amount to be claimed after death due to accident, the policyholder must die within 120 days of the accident date and directly/solely due to accident injuries and no independent cause.

Documents Required

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


  • Q: What is SBI eShield policy?

    Ans: SBI eShield policy is a pure risk cover plan that offers comprehensive benefits at affordable premiums. You can customise the plan to fit your needs and ensure the financial stability of your loved ones in the event of your untimely death.
  • Q: What is the Claim Ratio of SBI eShield?

    Ans: The Claim Settlement Ratio of SBI Life is 97.05%.
  • Q: What is the grace period for SBI Life eShield Plan?

    Ans: The grace period for SBI Life eShield Plan is 30 days from the due date of the premium since the plan only has an annual premium payment mode.
  • Q: How can the ‘increasing cover’ plan option of SBI Life eShield help an individual?

    Ans: The increasing cover plan option of SBI Life eShield plan helps in situations like inflation, increasing liabilities, etc.
  • Q: What is the time limit for reviving a lapsed policy?

    Ans: You have 2 years from when you missed your first payment to revive a lapsed policy.
  • Q: Is SBI Life Insurance Safe?

    Ans: Yes, SBI life insurance is a safe insurer to buy term life insurance plans from, as the company maintained a CSR of 97.05% in the FY 2021-22. This means, that the company settled most of the claims received and is likely to settle your family’s potential claim in the future.
Premium By Age

Term insurance articles

Recent Articles
Popular Articles
Everything About IRDAI - Understanding India's Insurance Regulatory Authority

30 Nov 2023

The Insurance Regulatory and Development Authority of India
Read more
ABSLI  - Aditya Birla Sun Life Insurance Salaried Term Plan

06 Nov 2023

The Aditya Birla Sun Life Insurance (ABSLI) Salaried Term Plan
Read more
Term Insurance – A Long-Term Protection Plan for Your Children

03 Nov 2023

In this fast-paced and ever-evolving world, keeping your kids
Read more
Tata AIA Saral Jeevan Bima

05 Oct 2023

Tata AIA Saral Jeevan Bima is a pure risk cover plan that
Read more
Bajaj Allianz Term Insurance for NRI

03 Oct 2023

Today, many Indians live abroad, away from their family or loved
Read more
What Are The Medical Tests Done For Term Insurance
Term insurance offers a sum assured to the beneficiary of the policyholder upon their death that can help them
Read more
Best Term Insurance Companies in India 2023
Buying term insurance is a great way to protect your loved ones financially in the unfortunate event of your
Read more
Term Insurance for Women in India
Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and
Read more
LIC Term Insurance 1 Crore
LIC of India offers various plans to help you secure the financial future of your loved ones. In order to make
Read more
What Kind Of Deaths Are Not Covered In A Term Insurance Plan
A term insurance plan is the best way to ensure the financial well-being of your family members in case of any
Read more

View Plans
Download the Policybazaar app
to manage all your insurance needs.