Term Plans
SBI Life Term Insurance plan helps an individual to create a financial cushion for their loved ones in case of an unforeseen event. A SBI Life Term insurance 50 lakhs helps you build a financial corpus. Under a term insurance plan with a sum assured of Rs. 50 lakhs, the nominee shall receive a death payout equivalent to Rs. 50 lakhs in case of unforeseen death of the policyholder. A SBI Life term insurance 50 lakhs plan can help ensure the financial protection of your family in your absence.
SBI Life Insurance Company offers a number of comprehensive term insurance plans to meet the needs of insurance buyers. The term insurance protection policies offered by SBI Life Insurance are personalized to provide financial security and protection to the family of the insured in case of any eventuality.
While SBI Term insurance plans can be bought offline as well as online. Along with the benefit of death payout, the term insurance plans offered by SBI Life Insurance offer add-on (rider) benefits to supplement the coverage of the policy. With a pocket-friendly premium rate, SBI Term insurance plans are specifically designed for individuals who want to provide financial protection to their loved ones.
Term Plans
A SBI Life term insurance 50 Lakhs is a policy with a sum assured of Rs. 50 lakhs which is provided to the nominee/claimant as a death benefit, in case of unforeseen death of the policyholder during the term of the policy. This type of term insurance comes with a high amount of sum assured but the premium amounts are quite low. These plans provide long time financial protection for the policyholder and his/her family members in difficult situations.
SBI Life Term Insurance 50 lakh can include SBI Life e-shield next and SBI Life smart shield.
It provides financial protection and support to your family
Different term insurance plan options are available as per the requirement
SBI Rewards for a healthy living lifestyle
Flexibility in paying premium amounts
Offers the choice of options of payout
Tax benefits are available under sections 80C and 10(10D) of the Income Tax Act, 1961
Rebates are allowed on larger sum assured amounts
Plans | Entry Age (Min.-Max) | Maturity Age | Policy Term | Sum Assured |
SBI Life e-Shield Next | 18 years -65 years | 85 years | 5 years | Minimum: Rs. 50,00,000 Maximum: No Limit |
SBI Life Smart Shield | 18 years | 60 years | 5 years to 80 years | Minimum: Rs 25,00,000 Maximum: Rs. No Limit |
Note: It is suggested to calculate the term plan premium on the term insurance calculator online tool by Policybazaar before buying the plan.
An individual who is having a regular source of income and financial dependents should always consider buying a term insurance plan. Parents, unmarried/married people, professionals, retired individuals, self-employed, etc. Simply put, individuals who are paying taxes should consider investing in a term insurance plan for tax exemption and also build a financially secured future for their family from the unpredictability of life. It is recommended that young individuals should invest in a term plan as they receive substantial coverage at a minimal cost of the premium.
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It is a new-age protection plan that is specifically designed for you to meet your present needs and your changing responsibilities.
Choice of three plan options which are increasing cover, Level cover and Level cover with future-proofing option to suit your protection requirements.
Personalize the plan to meet your needs by:
Better half benefit option
Death Benefit Payment Mode
The benefit of terminal illness is offered under all plan options
The choice to pay the premium once, for a limited period, or whole policy term as per your convenience
Additional cover benefits through the 2 rider option.
In case of a policyholder’s death during the policy term. The sum assured on death is paid to the nominee as the higher of:
For Regular and limited premium:
10X of annual premium
Absolute assured amount paid on death
105% of the total premium received till death
For Single Premium:
1.25X of single premium
Absolute assured amount paid on death
It is an individual, participating, and non-linked life insurance pure risk premium plan that helps meet all your insurance requirements. With benefits and options specifically designed for those who want financial security at low cost, so that your loved ones stay protected even when you are not with them.
Provides a lifetime of financial protection to your loved ones, at a low cost
Special discounts for maintaining a healthy lifestyle
2 plan options that provide freedom from liabilities
Rebates on the large sum assured
Customize your coverage by selecting from a comprehensive additional benefit such as Accidental total and permanent disability benefit rider, Accident death benefit rider.
In case of life assured’s death, an effective amount of sum assured as on the death date will be paid to the nominee
No maturity and survival benefits are available under this product
Step 1: Choose the plan option that suits your requirement and select the protection level required to make sure the family’s security.
Step 2: Enhance policy with addon-riders available
Step 3: Choose the mode of death benefit that would cater to the requirements of your family
Step 4: Choose the policy term and PPT (Premium Payment Term)
Step 5: Pay the required amount of premium
Note: Know what is term insurance first and then buy a term plan for your loved ones.
Certain KYC documents are always needed at the application time which are:
Identity Proofs such as PAN cards, Aadhar card
Address proof such as Driving license, passport copy, and utility bills
Age proof
Medical Reports
Income proof such as IT returns
Passport photographs
Suicide: In case of policyholder’s death due to suicide, within 12 months from the inception date of risk under the policy or the revival date of the policy, the beneficiary/nominee of the life assured shall be eligible to at least 80 percent of the total premium paid till the death date or the surrender value (whichever is higher).
Note: Check out the best term insurance plan in India and choose one that suits your requirements.
˜Top plans are based on annualized premium, for bookings made through https://www.policybazaar.com in FY 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.