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The SBI Life Smart Shield Premier Calculator is an online tool designed to help potential policyholders calculate the premiums applicable under the SBI Life Smart Shield Premier plan. This calculator simplifies the process of understanding the premium costs associated with your desired coverage, making it easier to plan and manage your budget effectively.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
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The SBI Life Smart Shield Premier Calculator helps you customise its results based on personal details like age, gender, smoking habits, and preferred coverage, providing an accurate premium estimate.
Term Plans
The SBI Life Smart Shield Premier Calculator allows individuals to calculate the premium they need to pay based on their chosen coverage options, such as the sum assured, policy term, premium payment term, and additional riders. It takes into account specific details like the benefit option, mode of premium payment, and taxes, providing a clear breakdown of the costs.
This term insurance calculator is essential for anyone considering the SBI Life Smart Shield Premier plan, as it offers transparency and clarity by showing how factors like age, smoking habits, and the amount of coverage impact the premium. It also informs you of potential savings, such as staff discounts, and calculates the applicable taxes.
Using the SBI Life Smart Shield Premier Calculator offers several benefits:
Personalized Estimates: Fill in your personal details like age, gender, and lifestyle to get a term insurance premium calculation customised to your needs.
Plan Comparison: Quickly compare term insurance premium costs across different cover options (Level Cover or Increasing Cover) and decide what suits you best.
Transparency: This tool provides a detailed breakdown, showing monthly and annual premiums with and without taxes, making it easy to understand your insurance costs.
Cost Planning: Get a clear picture of how much you’ll need to budget for your life insurance coverage, including optional term insurance riders for enhanced protection.
Instant Access: With just a few clicks, you can instantly access vital financial information, helping you make informed decisions about your life insurance policy.
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Here is how you can use the SBI Life Smart Shield Premier calculator:
Step 1: Visit the term insurance calculator page of Policybazaar
Step 2: Fill in the required details like age, gender, smoking habits, required sum assured, and policy term
Step 3: The approximate premiums for your profile will be displayed and you can click on ‘Check Your Premiums’ to see the exact premiums for the SBI Life Smart Shield Premier plan.
Let’s consider a personalized calculation for Nilesh T, a 60-year-old non-smoker male, opting for the Increasing Cover benefit:
Policy Term: 15 years
Premium Payment Term: 5 years
Sum Assured: ₹30,000,000
Mode of Payment: Monthly
Death Benefit Payment: Lump Sum
Based on these inputs, the monthly premium calculated without taxes is ₹47,049.54. With applicable taxes (18%), the monthly premium becomes ₹51,632.16. If eligible for a staff discount, the monthly premium is reduced to ₹43,756.07, inclusive of taxes.
This illustration clearly demonstrates how this life insurance calculator provides detailed estimates, ensuring you are fully aware of the costs associated with your chosen coverage and policy options.
Comprehensive Financial Protection: This term insurance plan provides substantial life cover, ensuring your family’s financial stability in case of your untimely demise.
Inflation Protection with Increasing Cover: By opting for the Increasing Cover benefit, your coverage grows with inflation, ensuring that your family’s needs are met over time.
Payment Options: With this plan, you can choose to pay the premiums at your own pace on a monthly, half-yearly, or yearly basis for a limited or regular premium pay term.
Rider Options for Additional Security: Add-ons like the Accident Benefit Rider offer enhanced protection, covering risks related to accidental death or disability.
Flexible Payout Options: Choose how your family receives the death benefit, allowing for either immediate lump-sum payments or installment options to manage their financial needs effectively.
The SBI Life Smart Shield Premier plan offers the following features:
Benefit Options:
Level Cover: The sum assured remains constant throughout the policy term.
Increasing Cover: The sum assured increases by 10% after every 5th policy year to account for inflation, up to a maximum increase of 100%.
Rider Benefits: Enhance your policy by adding optional riders like the Accident Benefit Rider, which covers accidental death and partial permanent disability.
Customizable Death Benefit Payment Mode: You can choose how the death benefit is paid—whether as a lump sum, in monthly installments, or a combination of both.
High Sum Assured: The plan offers a minimum sum assured of ₹2 Crores, making it ideal for individuals seeking high-value coverage for their families.
Tax Benefits: You can avail of term insurance tax benefits on the premiums paid under this plan, as per the prevailing tax laws.
Here is how you can buy the SBI Life Smart Shield Premier plan:
Step 1: Visit the term insurance page of Policybazaar
Step 2: Enter the required details like name, gender, contact information, and gender
Step 3: Answer some questions about your smoking habits, occupation type, annual income, and educational qualifications
Step 4: Select the SBI Life Smart Shield Premier plan and proceed to pay
Note: You should also check the term insurance benefits if you are planning to purchase the term insurance plan.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
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
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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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.
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