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SBI Life - eShield Next

SBI Life e-shield plan, recently launched by State Bank of India Life Insurance, is a new age-term insurance plan. It is a non-linked and non-participating pure life risk protection plan that is specifically designed to meet your financial requirements on a go. Thus, this plan is a one-stop solution for strengthening your financial immunity and protects your family against the uncertainties of life.

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Features of SBI Life eShield Next 

The SBI Life – eShield plan offers various unique features that help build financial immunity and prepares you for today’s changing world. Here’s a quick laydown: 

  • Flexibility to choose from the following 3 plan options. 
  • Level Cover – In this, the absolute assured amount paid on death remains the same throughout the tenure of the policy. 
  • Increasing Cover – The absolute assured amount paid on death increases by 10 % yearly of the SA (sum assured) after the 5th policy year. 
  • Level cover with future-proofing – The life assured has the option to enhance cover with important stages of life such as weddings or undergoing any medical test, etc. 

You can select any option as per your requirements and financial liabilities. 

  • Customization of the plan as per your needs through 
  • Mode of paying the death benefits  
  • The benefit of better half 
  • Terminal illness option is available for all policy options 
  • You can pay premiums as per your suitability. There are different options to pay premiums i.e. only one-time, limited period, or throughout the policy tenure. 
  • Rider options are available under this plan that provides additional coverage. 

one crore term plan

Term Plans


Life Cover

@ Starting from ₹ 16/day+


Life Cover

@ Starting from ₹ 8/day+


Life Cover

@ Starting from ₹ 12/day+

Eligibility Criteria of SBI Life- eShield Plan 

Minimum  Maximum 
Entry Age  For Whole Life Cover – 45 years 

Other than Whole Life Cover – 18 years 

For Level, increasing and level cover with future-proofing benefit:

Single premium and Limited Premium Term- 65 years 

For better half – 55 years 

Maturity Age 

For Single and Regular Premium – 85 years 

For Limited Premium Payment Term – 85 years 

Policy Term  5 years  Single and Regular Premium – 85 minus ages at entry 

Limited Premium Payment Term: 

For Whole life cover – 100 minus Entry age 

Sum Assured  For Online channel – Rs. 50,00,000

For another distribution channel – Rs. 75,00,000

For non-smoker – No limit 

For Smoker – Rs. 99,00,000

Plan Options

Level Cover 

Increasing Cover 

Level Cover with Future-Proofing Benefit 

Mode of Premium Payment 

Single/Half-yearly/ Monthly 

Premium Amount  For Single – Rs. 19,000

For Yearly – Rs. 3,600

For Half-Yearly – Rs. 1,836

For Monthly – Rs. 306 

No Limit 

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

Note: It is suggested to calculate the term plan premium on the term insurance calculator online tool by Policybazaar before buying the plan.

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Benefits of SBI Life- eShield Plan 

  1. Death Benefit 

    The nominee or the beneficiary will receive the death benefit based on the plan option selected, provided the policy is in force as on the death date of the policyholder. 

    The sum assured on death is payable in case of assured’s death during the policy tenure is: 

    • For Regular and Limited Premium Payment: The nominee will receive the highest of the following: 
      • 10X of the annualized premium 
      • 105% of the total premium amount that is received up to the death date 
      • Absolute amount assured to be paid at the time of death 
    • For Single Premium Payment: The nominee will receive the highest of the following: 
      • 1.25X of the single premium 
      • Absolute amount assured to be paid at the time of death 

    Note – Absolution amount assured that is paid at the time of death depends on the type of plan chosen by the life assured while purchasing the policy. 

    Selected plan option  Absolute amount to be paid on death 
    Level Cover  Sum Assured 
    Increasing Cover  Base sum assured as on the death date along with the eligible benefit increased till the death date 
    Level Cover with Future-Proofing Benefit  Base sum assured + Extra sum assured till the death date 
  2. Maturity Benefit 

    No maturity benefit is available under this plan 

  3. Terminal Illness Benefit 

    If the life assured has been diagnosed with the terminal illness during the policy tenure or before 80 years of age (whichever comes first), the benefit will be payable as on the diagnosis date, subject to the maximum amount of Rs. 2,00,00,000 would be payable. The Terminal illness benefit shall be payable in any mode of payments i.e., lump sum, monthly installments, or lump sum + monthly installments.

  4. Paid-up Benefit 

    No paid-up benefit is available for a regular premium under this plan 

    In case of limited premium payment, if at least 2 years of full premiums are paid and then no further premium is duly paid, then the policy becomes Reduced paid-up. Upon the policyholder’s death during the policy tenure, the ‘sum assured on paid-up’ is payable to the nominee/beneficiary as per the modes of the death benefit. 

  5. Surrender Benefit 

    No surrender benefit is available for regular premium payment. In the case of a single premium, a policyholder has the option to surrender the policy anytime during the policy tenure. 70% of the single premium is payable as the surrender value. 

    In the case of Limited Premium payment, surrender value is valid if the premiums of 2 full consecutive years have been paid. 

  6. Tax Benefits

    Get the tax benefits on premium paid as per the prevailing laws of the Income-tax Act, 1961. 

    Note: Know what is term insurance first and then buy a term plan for your loved ones.

Sample Premium Illustration 

The below table illustrates the premium payable by a healthy male, non-smoker, for different ages and policy terms: 

  1. For Level Regular Premium 

    For Healthy males, non-smoke

    For healthy non-smoker female

    Age (years)

    Term (years)

    Age (years)

    Term (Years)

    10  20  30   10 20  30
    30  8,589 9,585 11,595 30 7,990 8,400 9,773
    40  14,453 19,620 23,470 40 11,793 15,394 18,708
    50 45,018 44,468 52,493 50 26,678 34,888 41,100
  2. For Increasing Cover Regular Premium: 

    For Healthy males, a non-smoker

    For healthy non-smoker female

    Age (years)

    Term (years)

    Age (years)

    Term (Years)

    10  20  30   10 20  30
    30  8,834 10,645 13,964 30 8,197 9,212 11,579
    40  15,028 22,512 28,898 40 12,211 17,572 22,980
    50 36,613 50,788 63,574 50 27,904 39,942 49,823
  3. For Level Cover with Future-Proofing Benefit with Regular Premium:

    For Healthy males, a non-smoker

    For healthy non-smoker female

    Age (years)

    Term (years)

    Age (years)

    Term (Years)

    10  20  30   10 20  30
    30  8,589 9,585 11,595 30 7,990 8,400 9,773
    40  14,453 19,620 23,470 40 11,793 15,394 18,708
    50 45,018 44,468 52,493 50 26,678 34,888 41,100

Rider Benefits 

Following Rider can be opted at the starting of the policy by the policyholder: 

SBI Life – Accidental Death Benefit Rider 

  • The sum assured of a rider is payable, in case the policyholder dies within the 120 days of the accident date during the rider tenure, provided the policy is in force.  
  • Accident Death Benefit Rider is available for all the plan options.

SBI Life – Accident Total and Permanent Disability Rider 

  • In case of the policyholder’s accidental total and permanent disability during the rider tenure, then the basic sum assured of a rider is payable, provided the policy is in -force. 
  • This rider is also available for all 3 plan options.  

Policy Details 

  1. Grace Period 

    The plan offers a grace period of 30 days from the due date of the premium for yearly and half-yearly premium payment mode and 15 days for the monthly premium mode. During the grace period, the policy remains in force and lapses thereafter, if no further premium is paid. This grace period is also applicable for the rider premium payments. 

  2. Free Look Period 

    Policyholders have the option to renew the T&Cs of the policy within 30 days from the issuing date of the receipt of policy for online channels (digital marketing and electronic policies) and 15 days for any other channel. Additionally, if a policyholder is not satisfied with the terms and conditions of the policy, then he/she can return the policy to the company for the cancellation purpose, mentioning the reasons for this step. The paid premiums will be refunded excluding the proportionate risk premium, expenses incurred on the medical check-ups, and the stamp duty charges. 

  3. Revival 

    Policyholders have the option to revive the lapsed policy or a reduced paid-up policy in 5 consecutive years from the date of the first non-paid premium amount and before the maturity date. The rider and the policy revival will be depending on the prevailing underwriting policies. 

  4. Loan 

    A loan facility is not available under this policy 

Discount on Online Purchase 

The following discount is applicable for those who have sourced their policies through online mode using the website of the company. 

For Regular Premium  1.5 %
For Limited Premium  4 %


For Single Premium

2% for policy term 5-12 years
3% for policy term 13 and above years 



If the life assured dies due to the suicide within 12 months from the date of inception of risk under the plan or the revival date of the policy, then the nominee/beneficiary will be eligible to receive at least 80 percent of the total premium amount till the death date or the surrender value (if any).

You may also like to read: Term Insurance Plan

Note: Check out the best term insurance plan in India and choose one that suits your requirements.


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SBI Life - eShield Next Reviews & Ratings

4.3 / 5 (Based on 29 Reviews)
(Showing Newest 10 reviews)
Abohar, March 10, 2021
Financial stability for my family
I got the sbi general term insurance plan last year as I am concerned about my family. I searched various great plans and got to know into the website of policybazaar. Such great plans. Great work.
Baripada, March 09, 2021
Various good offers
I have recently bought a sbi term insurance plan from the website of the policybazaar. I am happy that policybazaar and team provided me with so many good offers at reasonable prices. Thanks.
Ambala, January 08, 2019
Less costly
This is the plan which I have bought from SBI. Here we have to make the lump sum payment of premium amount. And in case if the person dies then the amount which has been paid will be given to the family. The premium amount is less costly. I like the plan and would recommend everyone.
Mubarakpur, October 10, 2016
SBI term insurance
SBI life eshield Term insurance policy which i buy from sbi life insurance ltd is perfect policy plan. Insurance gave me more security and more benefits. Service is fast which is given by the company members. Renewal of the plan can be done through online portal service.
Sorada, August 24, 2016
My my sbi life eshield insurance policy is the best. Policy gives maximum coverage and claims are good. The service is quick and behaviour is very nice from the whole members of the company. Good decision to take this term insurance plan.
Kota, July 27, 2016
SBI term policy
Every one have insurances in this time, so i buy one for me and my family safety. Service given by the company members is fabulous and my plan is sbi term insurance which is a quality product. It gives full facilities to me and my parents.
Tezpur, July 27, 2016
Fantastic Insurance
Very fine terms and conditions of my sbi life eshield insurance plan. The coverage is maximum and claims are even better. Services provided by executives of the company is awesome and on time. 24X7 assistance by the staff members.
Katehri, July 27, 2016
High Coverage
SBI eshield insurance plan i have is fabulous, i took it from sbi policy insurers. Just the premiums are little bit high but the returns are huge with good number of benefits. The service is super fast and renewals can be done on web portal.
Madhuban, July 27, 2016
Term plan
The colleague of mine suggested me a online sbi saral plan. The policy is perfect and it coverage ratio is about 91%. Service by the members of the insurance company is quick and due to this the claiming become more easier than before. Sbi policy i have satisfies me completely.
Rajkot, April 21, 2016
Great Policy
I buy sbi life term insurance plan. The policy coverage is 94% and the premiums are low ~28 K. The claims are easily sanctioned because the service is fast from the executives side and from online web page also. The policy premiums are 5% less for women. Great investment which saves taxes too.
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