“I was very keen to purchase a life insurance for myself. Then I searched online and then I came across policybazaar. I read articles that were given on the website. I must say they helped me a lot, very informative. Then I thought to give policybazaar a try and to my surprise I was amazed I submitted all the details and got a call from them. They guided me to figure out what product I should buy and soon I purchased a life insurance of SBI eShield Plan. They delivered what they promised. Good job policybazaar. I will surely recommend this to my friends and family.” – Mukesh, Guntur
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Mukesh, a resident of Guntur, made a smart decision by purchasing the SBI eShield Term Plan to safeguard his family from unforeseen circumstances in the future. SBI Life Insurance offers various flexible plan benefits that suit your way of life and needs, guaranteeing the safety and well-being of your loved ones during unexpected events.
Let’s understand the various features and benefits of the SBI eShield Term Plan.
SBI Life Insurance is known for its many flexible plans that can be customized to match the life goals of policyholders.
Below are some reasons why you can consider buying the SBI Life Insurance:
This term insurance plan provides a comprehensive life cover that offers financial stability for both you and your loved ones during unforeseen circumstances such as critical illnesses, disabilities, or loss of life.
Premiums up to Rs. 1.5 Lakh per year are tax-exempt under section 80C of this life insurance plan. Moreover, the life cover paid to your nominee is completely tax-free under section 10(10D) in case of your unfortunate death.
SBI Life offers an additional cover through the Accidental Death Benefit rider, which can be as high as twice the life cover, at a nominal cost in case of death due to an accident.
By paying an additional premium, the Accidental Total & Permanent Disability Benefit Rider provides extra coverage in case there is an accidental total and permanent disability.
SBI Life's Better Half Benefit ensures sufficient coverage for your spouse in your absence, as they will have the sole responsibility for the family.
Term Plans
SBI eShield Term Plan is a protection plan that provides financial security to your family in the unfortunate event of your death. With terminal illness benefit in all the plan options and two rider options, this plan provides coverage for additional risks of life. Let’s know more about the SBI eShield Term Plan and understand its features.
Below listed are the key benefits of the SBI eShield Term 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.
The eligibility criteria for buying the SBI eShield Term Plan is mentioned below:
Parameters | Minimum | Maximum |
Entry Age | 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 | 100 years | |
Policy Term | For Level and Level Cover with accidental death benefit: 5 years For Increasing Cover and increasing cover with accidental death benefit: 10 years |
85 - Entry Age (for non whole life) |
Sum Assured | ₹ 75 Lakhs | ₹ 10 Crores |
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Mukesh made a good choice by purchasing the SBI eShield Term Plan. It will help him protect his loved ones from future financial burden. Along with this plan, he received coverage for his whole life (till 100 years of age), which makes him and his family ready for bigger risks in the future. Mukesh easily bought the plan from Policybazaar and received extra savings in his premiums.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in