SBI 2 Crore Term Insurance Plan

SBI 2 Crore term insurance plan is specifically designed to offer a large life cover that ensures your loved ones remain financially secure even in case of your absence. With a high sum assured of Rs. 2 crore, low premiums, the reliability of SBI Life Insurance, this term plan is especially to protect your family from financial difficulty, daily living expenses, long term goals (like for higher education and marriage), and unpaid loans. Let’s discuss benefits, and features of SBI 2 Crore Term Insurance plans in detail:

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5.9 Crore Policies Sold

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₹1 Crore Life cover starting from ⁺

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Why Should You Buy an SBI 2 Crore Term Insurance Plan?

Now, let us discuss some benefits of the SBI term insurance 2 crore plan:

Affordable Premium Rates
You can buy an SBI 2 crore term insurance at lower premiums by buying the plan at an early age.
Acts as a Financial Support
The death benefits received from this plan can be used for education loans, household expenses, and liabilities of your family members even if you are not around.
Get Comprehensive Cover
The SBI term insurance 2 Crore plans offer cover against death, disability, and illnesses at low premiums.
Tax Benefits
You can claim term insurance tax benefits as per the prevailing tax laws under sections 80C and 10(10D) of the Income Tax Act, 1961.
Tax Benefits
According to section 10(10D) of the ITA, 1961, the sum assured or death benefit of term insurance plans is exempted from taxes.

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 2 Crore Term Insurance Work?

Let's look at an example to see how the SBI 2 crore term insurance plans work:

Rohit is a 28-year-old working man who wants to protect his family's financial future by buying an SBI Term Insurance policy worth 2 Crore.

Parameters	Details
Age of Rohit	28 Years
Annual Income	₹12 Lakhs
Monthly Household Expenses	₹5 Lakhs (Yearly)
Current Term Plan Cover	₹2 Crore
Investments + Savings	₹10 Lakhs

Rohit has a home loan of ₹60 Lakhs that is still active and will be paid off in 20 years.

He intends to provide financial assistance to his parents and future family.

Rohit locks in a manageable premium by choosing a higher cover early in life. This way, even if life takes an unexpected turn, his family's lifestyle, loan payments, and long-term goals will still be safe.

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

What is the Process of SBI 2 Crore Term Insurance Plans?

SBI Term Insurance provides life cover for a pre-determined or fixed term
If as a life assured, you die during the active policy, your nominee will get a death benefit from the insurer.
You will have to pay a fixed amount of premium monthly, quarterly, bi-yearly, or yearly, depending on your preference. However, the premium rate of a 2 crore term insurance plan depends on various factors such as gender, age, smoking habits, and yearly income.
Your 2-crore term plan can lapse if you do not pay a premium on time.
If you outlive the policy term, the policy terminates unless you avail for a maturity or survival benefit rider.

Who Should Opt for SBI Term Insurance of 2 Crores?

Here are the list of individuals who should buy an SBI 2 crore term insurance:

Category	Why SBI Term Insurance for 2 Crore is Suitable
Primary Breadwinners	Offers financial cover for daily expenses, education, and lifestyle needs in case of policyholder’s untimely demise.
Home Loan Borrowers	The loans and debts that are still pending can be paid off, which lowers the financial burden on the family members.
Parents Planning for Children’s Future	With a large cover it secures children's education, marriage, and other long term goals.
Professionals Seeking Affordable High Coverage	Get large cover for low premiums for your family and secure their financial protection.
Individuals Planning Short- to Mid-Term Protection	Get cover against life’s eventualities with the SBI 2 crore term insurance plans.

Note: The plan is available at very affordable premium rates if you are in your late 20s or early 30s and healthy.

SBI 2 Crore Term Insurance Plans

SBI term insurance for 2 crore is a term insurance that offers a death benefit of 2 Crores to the nominee in case of the policyholder’s untimely death during the policy term. The payout from these plans can help your family replace your income, take care of their financial needs, and pay off any remaining loans. Let us understand this plan in detail:

SBI Life Smart Shield Premier Plan for 2 Crore

SBI Life Smart Shield Premier is a term life insurance offered by SBI Life. The plan provides higher coverage with multiple premium payment options to suit the varying needs of different individuals.

Key Features of SBI Life Term Insurance 2 Crore

Choose from 2 plan options, level cover and increasing cover.
Financial cover for family at affordable premiums.
Select the suitable policy term with cover up till 85 years of age.
Pay the premiums for the regular or limited premium pay terms.
Enhance the base cover with an Accident benefit rider.

Note: Check out the best term insurance plan in India and choose one that suits your requirements.

Eligibility Criteria for SBI Term Insurance 2 Crore

Criteria	Details
Plan options	Level Cover Increasing Cover
Entry Age	18 years to 60 years
Maturity Age	85 years
Sum Assured	Minimum: 2 Crores Maximum: No limit
Premium Payment Mode	Yearly/Half-yearly/Monthly
Policy Term	10 years to (85 - age at entry) years

Disclaimer: “Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.”

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

How to Buy SBI Term Insurance for 2 Crore From Policybazaar?

Here is how you can buy an SBI 2 crore term insurance from Policybazaar:

Step 1: Visit the term insurance page of Policybazaar.

Step 2: Fill in your required details like name, gender, and contact details.

Step 3: Select your occupation type, annual income, educational qualifications, and smoking habits.

Step 4: Choose the SBI term insurance for 2 crore and view the plan details

Step 5: Proceed to pay the first premium.

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

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What is Term Life Insurance

FAQs

Q: What is the right age to buy a 2 crore term insurance plan from SBI?

Ans: You should consider buying a 2 crore term insurance plan from SBI at a younger age.
Q: Can I buy the SBI Term Insurance for 2 Crore?

Ans: Yes, you can easily buy the SBI Term insurance plan for 2 crores online from PolicyBazaar’s official website. After going through the features and benefits of the plan, you can use the term insurance calculator to know the premium rates. If you are completely satisfied with the T&Cs, you can continue with the buying process.
Q: Is SBI 2 Crore Term Insurance policy free of tax?

Ans: According to Section 10(10D) of the ITA, 1961, the death benefit from this term plan is completely free of taxes.
Q: Is 2 Crore Term insurance enough?

Ans: At the time of choosing the coverage amount for an SBI 2 crore term insurance plan, you need to consider several parameters such as gender, age, yearly income, current expenses, smoking habits, liabilities, and loans.

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˜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.

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