SBI Term Insurance for 1 Crore

SBI Term insurance 1 Crore is a pure risk protection plan from SBI Life Insurance that offers a cover of ₹1 Crore to the nominee of the policy, in case of the policyholder’s untimely death during the policy term. This benefit payout amount can help your family take care of their financial needs in your absence, like paying off the remaining debts or taking care of monthly financial needs. Let’s understand how an SBI Life term insurance 1 crore plan works, its key benefits and help you decide if it fits your needs:

53 Partners Insurance Partners

13.2 Crore Registered Consumer

6.29 Crore Policies Sold

We are rated ++ rating

₹1 Crore Life cover starting from ⁺

Lowest Price Guarantee ^˜

Male

Female

Name

Date of Birth (DD/MM/YYYY)

Mobile Number

Check Your Premium Now

Get Updates on WhatsApp

SBI Term Insurance 1 Crore Plans

SBI Life-Smart Shield Plus is a term insurance plan, which offers benefits crafted for your growing needs to create a safe life.

Let’s understand this SBI term insurance 1 crore plan in detail:

SBI Smart Shield Plus Term Insurance for 1 Crore

SBI Smart Shield Plus is a flexible term insurance plan designed to provide high life cover at affordable premiums. The plan offers multiple coverage options, terminal illness benefits, and the flexibility to choose limited or regular premium payment terms. It also allows policyholders to enhance protection through optional riders like an accidental death benefit.

If you are searching for SBI Life Insurance 1 crore policy details, SBI Smart Shield Plus can be a suitable option for individuals looking for comprehensive financial protection for their family with customizable coverage features.

Note: To know about the detailed policy details, exclusions, riders, policy T&Cs, refer to the policy brochure and the policy wordings.

Key Features and Benefits of SBI Term Insurance for 1 Crore

Affordable Premiums: SBI term insurance for 1 crore plans is available at highly affordable premiums compared to other types of life insurance. To secure a lower premium, you should buy term plans as early as possible.
Customization: You can easily customise the plan to meet your personal needs with options like the Better Half Benefit Option and the different Death Benefit Payment Modes.
Choose from 3 plan options: You can choose from 3 plan options within the plan depending on your preferences: level cover benefit, increasing benefit, and level cover with future proofing benefits.

Note: For this, your beneficiary must submit reports from an Indian Medical Association-recognized doctor to your insurer to avail of this benefit. *Standard terms and conditions apply*

Online Facility: The SBI Term Life Insurance Company offers online services and allows you to access your policy details and make hassle-free premium payments.
Tax Deductions: You can avail of term insurance tax benefits on premiums paid under Section 80C of the Income Tax Act 1961.

*Tax benefit is subject to changes in tax laws*

Eligibility Criteria of SBI Term Insurance for 1 Crore

Parameters	Details
Plan Options	Increasing Cover Level Cover Level Cover with Future-Proofing Benefit
Entry Age	18 years to 65 years
Max. Maturity Age	100 years
Sum Assured	Minimum: 50 Lakhs Maximum: No Limit
Premium Payment Mode	Single/Yearly/Half-yearly/Monthly
Policy Term (in years)	5 years to 100 less entry age

Why Buy SBI Term Insurance for 1 Crore?

Following are some factors that make 1 crore term insurance a must-have plan:

High Cover at Low Premium Rates: SBI Term plans are economical because they provide a single death benefit and no other components of saving. An SBI 1 Cr Term insurance plan can be easily availed for as low as Rs.556.
Secure Your Family From Loans, Liabilities, and Debts: Having an SBI term insurance 1 crore plan makes it easier to receive a loan in case of an eventuality. The payout from a term insurance plan can help in repaying the loan and keep your loved ones stress-free from the debt in case you are not around.
Purchasing at Early Ages: By purchasing an SBI 1 Crore Term Insurance Plan at an early age, you can get good life cover at low premium rates than buying at later stages. Also, you can save more taxes.
Get Comprehensive Cover: This plan offers comprehensive cover that makes sure that the policyholder and his/her family are financially secured.
Whole Life Cover: A SBI 1 Crore Term Insurance Plan offers comprehensive cover for your lifetime or till the time premium amounts are paid. This makes sure that you and your loved ones are financially safe to fulfilling all their life goals.
Tax Benefits: The premium amount paid for an SBI term insurance 1 crore policy and the death payout received are exempted from tax under 80C and 10(10D) of the ITA, 1961.

Note: Know what is term insurance first and then buy a term plan for your loved ones.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

How Does SBI Term Insurance for 1 Crore Work?

Let’s understand how SBI term insurance for 1 Crore works with the help of an example:

Anup is a young, healthy individual, 25 years old, who purchases an SBI Term Insurance for 1 Crore. The below table illustrates the Finances of Anup:

Parameters	Details
Age of Anup	25 Years
Yearly Income	6 Lakhs
Personal Expenses of Anup	4 Lakhs
Current Term Plan Cover	1 Crore
Investment + Personal Savings	2 Lakhs

*No home loan is availed and no such family members are dependent on him.

**No child education expenses

Anup is smart enough to purchase an SBI Life term insurance 1 crore at an early age to get low premium rates and high coverage and to get prepared in case of any eventuality.

Who Should Buy SBI Term Insurance for 1 Crore?

Here are the types of individuals who should buy SBI Life Term Insurance 1 crore:

Category	Why SBI Term Insurance for 1 Crore is Suitable
Primary Breadwinners	Provides financial security to dependents by covering daily expenses, education, and lifestyle needs in case of untimely demise.
Home Loan Borrowers	SBI term insurance for 1 crore makes sure that loans and debts that are still pending can be paid off, thus, lowering the financial burden on the family members.
Parents Planning for Children’s Future	With a high sum assured, it supports the securing of children's education, marriage, and other long, term goals.
Professionals Seeking Affordable High Coverage	By offering a considerable life cover at fairly low premiums, it is the perfect solution for people who want SBI term insurance 1 crore coverage but without the high costs.
Individuals Planning Short- to Mid-Term Protection	Allowing coverage for a certain time with affordable premiums, it gives the assurance of financial protection when it is the most necessary.

Factors to Consider While Buying SBI Life Term Insurance 1 Crore

You must consider the following factors before buying an SBI term insurance plan for 1 crore:

Rider Benefits: Term insurance riders can help you enhance your base coverage with additional protection. Benefits like critical illness cover, accidental death benefit, or waiver of premium can offer extra financial support alongside the base SBI term insurance for 1 crore cover.
Claim Settlement Ratio (CSR): You should always assess the claim settlement ratio of the companies and go for one with a high CSR. You can check the IRDAI annual report to find the CSR of any insurer. Currently, SBI term Insurance has a 98.56% CSR ratio.
Offered Life Cover: If you are planning to buy SBI term insurance for 1 crore, you need to consider the inflation effect, current income, debt, and plans to determine premiums. It is advisable to go for a sum assured that is 10 times higher than your current annual income.
Policy Tenure: The policy period is also equally significant in making the final decision. The earlier you plan, the longer policy tenure you can choose. The premiums for a long term policy tenure are much more affordable than short term policies.
Premium Affordability: While choosing a higher cover amount is important, the premium should still remain manageable over the long term so that the policy stays active without financial strain.

Note: Check all the best term insurance plan in India.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @

Get an online discount of upto 15%^#

Compare 40+ plans from 15 Insurers

⁺Standard T&C Applied

How to Buy SBI Term Insurance for 1 Crore From Policybazaar?

Here are the steps required to buy SBI Life Term Insurance 1 crore plan from Policybazaar:

Step 1: Go to the SBI term insurance for 1 crore Form
Step 2: Fill in the basic details such as Name, Date of Birth, and Contact Number and click on ‘View Plans’
Step 3: Answer the questions about smoking or chewing habits, annual income, occupation type, educational qualification, and language
Step 4: After submitting all the details, a list of all available 1 Crore term insurance plans will be displayed
Step 5: Select the SBI 1 crore term insurance plan and check for the policy details
Step 6: Proceed to Buy, if they match your requirements

Note: It is suggested to calculate the term plan premium on the term insurance calculator online tool by Policybazaar before buying.

Why Choose Policybazaar?

At Policybazaar. We have secured 15 lakh+ families and help them choose the right term life insurance plan. Customers like Anna trust us for affordable premiums, reliable coverage, and a hassle-free insurance experience that keeps their family financially secure:

“Buying term insurance was one of the best financial decisions I made for my family. Three years ago, I purchased an SBI Life policy through Policybazaar at an affordable premium, and the process was very smooth. Since then, I’ve had peace of mind knowing that my wife and children will remain financially secure even if something happens to me.

I would also recommend reading an SBI Life Insurance Review before purchasing a policy, as it helps you understand real customer experiences and plan benefits better. Thanks to the Policybazaar team for helping me choose the right coverage.” – Anna, Gaya

100% dedicated claim assistance
IRDAI-certified Advisor support
Up to 15% discount on premiums
100% recorded calls to avoid mis-selling
Lowest price guarantee

People also search for

What is Term Life Insurance

FAQs

Q: What is a 1 crore policy in SBI?

Ans: A 1 crore policy in SBI refers to a life or term insurance policy by the insurer that pays the amount of 1 crore to the nominee in case of the policyholder's death during the policy term. This amount can help your family take care of their financial needs in your absence and thus should be selected after assessing your family's future financial needs.
Q: What is the benefit of 1 crore term insurance SBI?

Ans: The benefits of a 1 crore term insurance SBI are affordable premiums, large life cover, long term protection, financial security for family, and tax benefits.
Q: What is the premium for an SBI 1 crore term plan?

Ans: The premium for an SBI term insurance 1 crore ranges from ₹556 per month onwards, as the premiums depend on varying factors.
Q: Who can buy an SBI 1 crore term plan policy?

Ans: People with age between 18 to 65 years are eligible to buy SBI term insurance 1 crore policy. Apart from that, the insurer might accept or reject your term insurance application based on your lifestyle, health conditions, and income.
Q: How is the premium for ₹1 crore term insurance SBI calculated?

Ans: The premium for a ₹1 crore SBI term insurance plan is calculated based on factors such as your age, gender, health condition, smoking habits, policy term, income, and chosen riders. Younger and healthier individuals usually get lower premium rates.
Q: How to check SBI Life Insurance ₹1 crore policy details?

Ans: You can check your SBI Life Insurance ₹1 crore policy details through the insurer’s official website, customer portal, mobile app, policy documents, or by contacting SBI Life customer support.

Different types of Plans

Term Insurance

View Plans

Life Insurance

View Plans

List of Term Insurance Companies

View Plans

TROP

View Plans

Term Insurance For Senior Citizen

View Plans

Term Insurance For Spouse

View Plans

Term Insurance For Family

View Plans

Term Insurance For NRI

View Plans

List of Term Insurance Plan

View Plans

Life Insurance Corporation of India

View Plans

What is Term Insurance?

View Plans

Term Insurance Calculator

View Plans

1 Crore Term Insurance

View Plans

2 Crore Term Insurance

View Plans

Author's Bio

Varun Agarwal IRDAI Certified Term Insurance Expert with 10+ Years of Experience

Varun has spent years in the insurance space, but what drives him isn't policies or premiums — it's the conversations he's had with real people. A young father in Pune wondering if his salary is enough. A newly married couple in Jaipur putting off "the insurance talk" for later. A mother in Chennai who never knew her husband was underinsured until it was too late.
These stories stay with him. As Head of Term Insurance at Policybazaar, Varun knows the numbers well — 52.4% of Indians are aware of term insurance, yet only 9.6% own it. And 87% of families don't realise they're leaving their loved ones with far less protection than they actually need. But behind every statistic, he sees a family that just needed someone to sit with them, explain it simply, and help them take that one step. That's exactly what Policybazaar's term insurance is built to do. In his words, "Most people aren't avoiding protection — they're just waiting for someone to make it easy. That's what we're here for."

Write to Varun

Explore the popular searches and stay informed

˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.