SBI Life Term Insurance 1 Crore Calculator

State Bank of India has played a major role in both our banking system as well as the insurance sector. When we talk about the insurance sector, in particular, SBI has created a mark for itself by offering people protection-oriented plans. The term insurance policies launched by the State Bank of India provide great coverage to the policyholders at minimal premium rates.

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Get ₹1 Cr. Life Cover at just ₹411/month*
No medical checkup required
Save more with upto 10% discount
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Tax Benefit
Upto Rs. 46800
Life Cover Till Age
99 Years
8 Lakh+
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*Tax benefit is subject to changes in tax laws. *Standard T&C Apply

** Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines

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These attractive and policyholder-friendly plans have helped SBI stand out in the insurance marketplace. Another reason for the popularity of SBI plans is the transparency of the premium amount along with its calculations in front of the policyholder. To evaluate the exact premium rate, the insured can use the SBI Life Term Insurance Calculator.

Further, you will get to know about SBI Life Term Insurance for 1 Crore and details related to it.

What is SBI Life Term Insurance Calculator?

State Bank of India has allowed its policyholders to calculate their premium amount themselves to maintain transparency between the insurer and the insured. As SBI has launched a host of protection plans for its customers, each customer must have the right to understand the policy he/she is going to purchase and calculate the premiums on his/her own. SBI Life Term Insurance Calculator allows an individual to calculate the cost of the policy based on the details entered on the calculator on the official website of the company.

Why The Insured Must Use SBI Term Plan Calculator?

The insurance market has seen an immense boom in the last few decades. In this insurance zoo, providers need to create their mark for survival. SBI Life is one such company that caters to the different needs of its customers efficiently. Policy premium depends on a variety of factors like age, income, habits, medical history, amount to be invested, etc. To calculate the premium of the policy manually keeping all the factors in mind can be a daunting task.

SBI Life Term Insurance Calculator helps an individual to calculate the policy price before buying any policy. This online tool helps in understanding the premium amount an individual is expected to invest in a particular policy in a simple and hassle-free way.

How to Use SBI Life Term Insurance 1 Crore Calculator?

To use the SBI Life term insurance 1 crore calculator, the below-mentioned steps need to be followed:

  • Visit the official website,
  • Click on the products option
  • Select individual life insurance plan option
  • Under the option, select the suitable plan of your choice
  • You will be redirected to the plan page of the product selected
  • Read the features, benefits, and all the important details related to the plan carefully
  • After going through the plan carefully, click on the “calculate premium” option on the top
  • After opening the premium calculator, fill in the required details like
    • Name
    • Date of Birth
    • Gender
    • Email ID
    • Mobile number
    • Policy term
    • Premium payment frequency
    • Smoking habits, etc.
  • After mentioning all the details, click on “calculate premium”
  • The approximate premium payment amount of the policy will be displayed on your screen
  • If interested, one can continue to purchase the policy online

What Are the Benefits of the SBI Life Term Insurance Calculator?

Let us have a look at the following benefits of using the SBI Life term insurance calculator:

  • It is a simple, easy, and free of cost online tool offered by SBI Life to their customers
  • It offers instant results according to the information entered
  • Quick premium calculation helps in comparing multiple plans and selecting them accordingly
  • It is a user-friendly tool
  • Insurers can cover a wide range of customers easily compared to the manual process
  • Instant premium payment amount calculation helps in a better decision-making

Eligibility to buy 1 crore SBI life insurance policy

Generally, an individual in his/her middle age, say, 30-35 years should opt for SBI Life term insurance for 1 crore. The reason behind the age group is that a person in the age of 30-35 has the maximum capability of earning more than what he/she is currently in the coming years.

SBI Life term insurance policy for a sum assured of Rs.1 crore is ideal for a person who is the only bread earning member of the family or a person in his/her earning age.

SBI Life Term Insurance 1 Crore Plans

Here are the top 2 SBI Life term insurance plans that offer a sum assured of 1 crore. Let us have a look:

SBI Life eShield Plan

As the name suggests, SBI Life eShield plan is a technology-friendly, individual, non-participating, non-linked, pure risk protection plan. The plan comes with a dual benefit of:

  • Level Cover
    The protection amount remains the same throughout the policy tenure
  • Increasing Cover
    The protection amount increases over the policy tenure
  1. Features of SBI Life eShield Plan

    Here are some top features offered under SBI Life eShield Plan:

    • Secures the future of the family at an affordable cost
    • Comes with dual benefit structure of Level Cover and Increasing Cover
    • Additional accelerated terminal illness benefit is available under both the abovementioned benefit structure
    • Non-smokers are offered better premium rates
    • Tax benefits are available as per the prevailing tax laws under the Income Tax Act, 1961
    • Additional rider benefit option is also available
  2. Eligibility Conditions and Other Restrictions



    Benefit Structures

    Level Cover

    Increasing Cover

    Entry Age

    Minimum: 18 years


    Level Cover: 65 years

    Increasing Cover: 60 years

    Maturity Age

    80 years (for Level Cover Benefit)

    75 years (for Increasing Cover Benefit)

    Basic Sum Assured

    Minimum: Rs. 35,00,000

    Maximum: No Limit (Subject to board approved underwriting policy)

    Sum Assured would be in multiples of Rs. 1,00,000

    Premium Payment Mode

    Yearly, Half-yearly, Quarterly & Monthly

    Premium For Non-Yearly Mode

    Half-Yearly: 51.00% of yearly premium

    Quarterly: 26.00% of yearly premium

    Monthly: 8.50% of yearly premium

    Policy Term


    For Level Cover: 5 years 

    For Increasing Cover: 10 years 


    For Level Cover: 80 years less Age at Entry

    For Increasing Cover: 75 years less Age at Entry

    Premium Payment Term

    Same as Policy Term

    Premium Amount 


    Yearly - Rs. 2,779 Half-Yearly - Rs. 1,418 Quarterly - Rs. 723 Monthly - Rs. 237

    Maximum: No Limit (Subject to board approved underwriting policy)

    Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

SBI Life Smart Champ Insurance Plan

Secure and strengthen your child’s future financial needs with SBI Life Smart Champ Insurance Plan. An individual, participating, non-linked, life insurance plan that offers smart benefits with four equal annual benefits, this SBI Child Plan covers life insurance of the proposer as well.

  1. Features Of SBI Life Smart Champ Insurance Plan

    Here are some top features offered under SBI Life Smart Champ Insurance Plan:

    • Guaranteed smart benefits
    • Loans and discounts as per conditions
    • Survival benefits
    • Coverage against unfortunate events
    • Premium waiver and instant payment of sum assured
    • Accidental benefits
    • Terminal bonuses
  2. Eligibility Conditions and Other Restrictions


    Eligibility Criteria

    Plan Type

    Non - Linked, Participating Life Insurance Plan

    Entry Age

    Children: 0 years to 13 years

    Parents/ Legal Guardian: 21 years to 50 years

    Maximum Maturity Age

    Children: 21 years

    Policyholder: 70 years

    Policy Term

    21 years- Entry age of the child

    Premium payment term

    18 minus the entry age of the child

    Premium paying term

    Single Pay, or Limited Pay for (21, entry age of the child) years

    Sum Assured

    Minimum: Rs 1 Lakh Maximum: Rs. 1 Crore

    Mode of Premium Payment

    Annually, Half-yearly, Quarterly, Monthly or Single Pay


  • Q1. Why choose SBI Life insurance?

    Answer: State Bank of India has been in the insurance market for several years and has created a mark for itself. If a person is willing to invest his/her hard-earned money in a trusted company, SBI Life can surely be the best place to put your bets on.
  • Q2. Is SBI Life term insurance for 1 crore worth buying?

    Answer: Life insurance, along with the coverage of the life of the policyholder, also offers a lump sum amount to the nominee in case of the untimely demise of the insured. There are a lot of options in the market to choose from depending upon your investment capacity. The more the invested amount, the better would be the returns.
  • Q3. How does age affect the SBI Life term insurance plan for 1 crore?

    Answer: Age plays an important role while purchasing any policy. The more you age, the more will be the premium amount payable under the plan. Hence, it is highly recommended to buy the right plan at the right age to reap better results.
  • Q4. Does SBI Life Term insurance for 1 crore offer tax exemption?

    Answer: Yes, SBI Life offers tax exemptions under Section 80C, Section 10(10D), and Section 80D of the Income Tax Act, 1961, subject to terms and conditions.
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 29 Reviews)
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SBI Life Term Insurance 1 Crore Calculator Reviews & Ratings

4.3 / 5 (Based on 29 Reviews)
(Showing Newest 25 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.
Kanpur, April 21, 2016
Above Average
SBI life term insurance plan is one of the perfect insurance i took it. The policy is good in service and it can be buy online also. The web service is awesome and 5% less for women on premiums. Policy coverage and the claims are high. Due to online facility, it reduces the paper work and the waiting part is erased. It saves taxes also.
Ooty, April 21, 2016
My sbi life term insurance plan is good with nice benefits. The policy coverage is high ~89% and the claims are approx. Rs.36 L after policy get mature. Claims are easily sanctioned because of fast services provided by the executives. Fantastic policy plan which provides good terms and conditions.
Navi_mumbai, April 21, 2016
Good Investment
I own sbi life term insurance plan and it really very good. The premiums are ~Rs.39.3 K per year. The claims are good and easily sanctioned. Service facilitate by executives and staff members are very nice and fast. The policy saves taxes and it is really very good investment for future.
Jajpur, April 21, 2016
Very Nice
Policy plan is nice with huge benefits like low premiums and the policy coverage is high 87%. Claims are are good and the payback amount is around Rs.33 L after the policy get mature. Internet services are great with easy interface and vast variety of policies are there with full descriptions. Good future investment which saves taxes.
Agartala, April 21, 2016
Good Service
I purchase sbi life term insurance plan. They has good in facilitate the fast services. Policy coverage is 91% and the claims are good with easy claiming process. The investment is good and it saves taxes also. The behaviour of executives and staff members is good with great service provided anytime.
Hyderabad, March 02, 2016
My term plan has all benefits which i bought from sbi life insurance. Policy coverage is 90% and claims are ~Rs.18 L. Service are good and claiming process get easy due to fast service. I really like the policy terms and conditions.
Plan Name: eShield
Agent Code: BPW00301
Udaipur, March 02, 2016
superb plan.
My term policy plan is with sbi life insurance. Policy is nice with low premiums and even terms and conditions are also good. Policy coverage and claims are high. Service is the best and executives and staff behave well with any query or conversation.
Plan Name: eShield
Agent Code: BPW00301
Delhi, March 01, 2016
Good Plan.
I purchase sbi life insurance term policy plan and i'm really happy with the terms and conditions of the policy. Coverage of the plan is high and the investment is low. Claims are also good ~Rs.13 L. The service is fast and always on time. Thanks for this great policy plan.
Plan Name: eShield
Agent Code: BEW00148
Mumbai, February 25, 2016
Average Policy.
I bought sbi life insurance term plan. The policy coverage and the claims are not that much as i expected. Premiums are high and services are okay not the best and not even poor. Kaam chalau plan hai.
Plan Name: eShield
Agent Code: BPW00301
Indore, February 24, 2016
My policy plan is not that good as i expected. Even the premiums are high but the returns are not. SBI life insurance term plan provide good services but not much good in other fields. Claims are also fair.
Plan Name: eShield
Agent Code: BPW00065
Vadodara, February 24, 2016
Policy coverage is less.
I have sbi term insurance plan which has low policy coverage but the service provided is great. Premium is low but the returns are also not much higher. An average policy plan according to me.
Plan Name: eShield
Agent Code: BEW00148
Patna, February 19, 2016
Great Policy Plan.
I have sbi term insurance policy plan which has low premiums. But the investment is also little bit high. Policy coverage is 90% and the claims are easy to get without any waiting. Service is really good, i'm happy with my policy plan.
Plan Name: eShield
Agent Code: BEW00148
Indore, February 18, 2016
Average Policy.
I bought term policy plan and sbi life insurance has low premiums on policies. You guys provided the nice services but please improve on your websites. Claims and policy coverage are high. I must say an average policy with okay benefits.
Plan Name: eShield
Agent Code: BPW00065
Delhi, February 18, 2016
Fine term plan
SBI life insurance term plan i have which provides me many benefits. Low premiums and high returns. Policy coverage is 80% and Policy claims are around eighteen lakhs. Services are pretty fast and on time time now. Great work.
Plan Name: eShield
Agent Code: BPW00301
Bengaluru, February 12, 2016
Good Life Insurance Policy.
My life is secure with sbi insurance. The policy is good enough to give five stars with closed eyes. The policy coverage is 90% and the claim is ~Rs.25 lakh. The service is very fast and follow-ups is time to time with nice response.
Plan Name: eShield
Agent Code: BBE06282
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