SBI 2 Crore Term Insurance Plan

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.

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.

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

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