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SBI 2 Crore Term Insurance Plan

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 the best 2 Crore Term Insurance Plan. 2 Crore term insurance from SBI is the safest option if you want high cover at low premium rates.

What is SBI 2 Crore Term Insurance Plan?

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.

Five things to know before buying Term Plan Five things to know before buying Term Plan

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

Now as we already know the basic concepts of an SBI 2 Crore Term Insurance Plan, let’s discuss some benefits:

  1. Affordable Premium Rates

    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.

  2. 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.

  3. 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.

How Does SBI 2 Crore Term Insurance Work?

  • 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?

  • 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.

Why Buy Term Life Insurance from Policybazaar Why Buy Term Life Insurance from Policybazaar

SBI Life e-Shield Next Plan for 2 Crore Term Insurance

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.

  1. Key Features of SBI Life e-Shield Next for

    • 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

  2. Eligibility Criteria

    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.”


  • What does happen if do not die during the policy term?

    Ans: A life assured who has availed of a survival or maturity benefit will get all or share of the premiums back at the end of the policy tenure. However, in other cases, the 2 crore term insurance plan will be terminated.
  • 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.
  • 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.
  • 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.
  • 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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