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The financial security and planning for your family members cannot be overstated. Anything can happen anytime and choosing comprehensive coverage such as a 2 crore term insurance plan can be a wise decision, a few years down the line.
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If you are thinking to invest in your family’s financial security, it might be the right time to start looking for 2 Crore Term Insurance Plan. 2 Crore term insurance from SBI is the safest option if you want high cover at low premium rates.
Term Plans
An SBI 2 Crore Term insurance policy is a type of life insurance plan designed to offer a sum assured of Rs.2 Crore to the nominee or beneficiary appointed under the plan after the policyholder’s death during the policy term.
Therefore, investing in a term plan for 2 Crores will make sure that the financial needs of your family members will be taken care of even in your absence. In addition to this, the monthly amount of premiums are quite low, making the 2 crore term insurance plan a popular choice among policy seekers.
Note: Now that you know that what is SBI 2 Crore Term Insurance Plan you should also know about what is term insurance before buying any term plan for your loved ones.
Now as we already know the basic concepts of an SBI 2 Crore Term Insurance Plan, let’s discuss some benefits:
Term insurance with a life cover of Rs.2 Crores is economical and you can also save a lot of money on the premium if you invest at an early age.
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.
According to section 10(10D) of the ITA, 1961, the sum assured or death benefit of term insurance plans is exempted from taxes.
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.
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₹1 CRORE
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Get an online discount of upto 15%#
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If you are the breadwinner of your family
If you have multiple dependents
If your annual income is more than Rs.5 Lakhs
Note: The plan is available at very affordable premium rates if you are in your late 20s or early 30s and healthy.
SBI Life e-Shield Next is a new age protection policy that is specially designed for you to meet your current needs but also takes care of your changing responsibilities. So, it is a perfect solution for providing financial security and protecting your family in today’s changing world.
Choice of three plan options: Increasing cover, Level cover with future pooling benefit, and level cover to suit your protection requirements.
Customize the plan to meet your needs through better half benefit and benefit of payment mode.
The benefit of terminal illness available in all plan options
Pay premium amounts as per your preference: One time, limited time, or for the whole policy term.
Add-on coverage from 2 rider options
Note: Check out the best term insurance plan in India and choose one that suits your requirements.
| Criteria | Details |
| Plan options | Level Cover Increasing Cover Level Cover with Future-Proofing Benefit |
| Entry Age | 18 years to 65 years |
| Maturity Age | 100 years |
| Sum Assured | Minimum: 75 Lakhs Maximum: 99 Lakhs |
| Premium Payment Mode | Single/Yearly/Half-yearly/Monthly |
| Policy Term | 5 years to 100 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.
Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
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
+Rs. 487/month (Rs.16/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 38 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
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+Rs. 820/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 38 years of age.
+Rs. 1,443/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 38 years of age.
˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.
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