SBI Life 50 Lakh Term Insurance

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.

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SBI Term Insurance Plans 

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. 

What is a SBI Life Term Insurance 50 Lakhs? 

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. 

Features of Buying SBI Life Term Insurance 50 Lakhs

  • 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 

Eligibility Criteria for SBI Life Term Insurance 50 Lakhs Plan

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

Who Should Purchase SBI Life Term Insurance 50 Lakhs? 

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. 

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

Benefits of SBI Life Term Insurance 50 Lakh Plans

  1. SBI Life e-Shield Next

    It is a new-age protection plan that is specifically designed for you to meet your present needs and your changing responsibilities.

    Benefits of SBI Life e-Shield Next

    • 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 

  2. SBI Life Smart Shield 

    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. 

    Benefits of SBI Lie Smart Shield 

    • 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

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

How To Buy SBI Life Term Insurance 50 Lakhs?  

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 

Documents Required 

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).

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