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SBI Life Term Insurance 1 Crore Calculator

SBI Life Insurance is one of India's most reputed insurance providers, especially for term insurance. It offers various life insurance products such as term insurance policies with high insurance coverage at lower premium rates. Several factors like age, income and smoking habits also determine the premium rates. Insurance buyers can use the SBI Term Insurance Calculator to estimate their approximate premium rate.

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Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
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The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
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In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

Benefits of SBI Term Insurance 1 Crore Premium Calculator

Without online tools, it is challenging to calculate and customize a policy. It also helps the customers to do their research with varying sum assured amounts and policy tenures, including 1 crore term insurance plans. 

Below are some of the benefits provided by Term Insurance Calculator:

  • Free of Cost: The Term Insurance Calculator is easy to use, plus it is free of cost.

  • Saves Times and Hassles: The Term Insurance Calculator saves time as it does not ask for any documents while calculating your plan. In a very few steps, you get the quote, and then you can decide if you want to go with the same or not.

  • Compare different Term Plans: SBI Life insurance offers various term plans to suit the needs of their customers. The Term insurance premium calculator lets you compare different plans' features and benefits and select the plan that's right for you. 

  • Right Plan: You can also choose the highest possible life insurance amount that befits your necessity with the help of the calculator. There is an option for Additional Benefit as well, available at the best possible rate of premium.

  • Correct Premium Amount: SBI Life Insurance Calculator aims to provide the correct premium amount for your term insurance. The availability of different premium amount under different plans assists you in comparing and choosing the best-priced premium amount befitting your need.

Term Plans Offered by SBI (State Bank of India)

To understand what is term insurance, you can take a look at the term plans offered by SBI life insurance:

  • SBI Life Purna Suraksha

  • SBI Life e-shield

  • SBI Life Smart Shield

  • SBI Life Grameen Bima

  • SBI Life Saral Swadhan+

  • SBI Life Smart Swadhan Plus

  • SBI Life Insurance Saral Jeevan Bima

Steps to Use the SBI Life Term 1 Crore Insurance Calculator

SBI Life Insurance plan premium is easy to calculate with the premium calculator available online. Following are the steps to use the premium calculator:

  • Visit the official SBI website.

  • Enter your details like date of birth, gender, marital status, life cover, etc. 

  • Enter the income details, such as the income details showing the earning capacity. It also plays a crucial role in determining the premium plans for you. 

  • Click on ‘View Plans.' 

  • Once you click on ‘View Plan,' a page will appear asking if you smoke or chew tobacco. Click according to your preference.

  • Choose your occupation and educational qualifications.

  • Enter how much amount you want (1 crore in this case) and the time duration. Click on 'Calculate.'

  • A page will appear with a customized plan and with some other Additional Benefit Plans. It will show you the premium amount and other plan details.

  • Select and choose your plan and buy according to your preference, if you agree to it. 


Purpose of the SBI Life Term 1 Crore Insurance Calculator

Online calculators easily help you decide the premium amount a policyholder needs to pay against SBI Life Term 1 crore plan. The calculator is also free of cost to use. Plus, an individual can choose from any customized plan available for them. 

The policyholder can pay the monthly amount yearly, quarterly, and even monthly and use the SBI Term Insurance Calculator to calculate the rough estimate of the premium. The insurance buyers can also modify the factors according to their needs. If the buyer does so, the plan will be changed accordingly. 

To calculate the Life Term Insurance, buyers are required to enter the following details:

  • Name of the Applicant

  • Name of the Plan

  • Premium Frequency

  • Gender

  • Date of Birth

  • Assured Amount

  • Rider

  • Tenure

How to Calculate SBI Term Insurance Plan Premium?

The applicants' plans and credentials regulate the premium term rate. The data of the buyer's input in the calculator decides the premium amount. All a buyer needs to do is simply enter their personal information, the amount, and the tenure. The calculator itself will do the rest. 

Factors Determining the Premium Rates

Certain factors determine the rate of the Term Insurance. Following are those factors that need to be taken into consideration before calculating the premium of a term insurance policy:

  • Age: Age is the most important factor to consider before calculating the term insurance premium. As the SBI Life Insurance Calculator calculates the lesser premium for young buyers, it is recommended that they start a term insurance plan at an early age to enjoy long-term benefits. 

  • Insurance Coverage: While determining the premium term for the buyers, insurance requirement is also another essential factor that the calculator takes into consideration. Choosing the term insurance premium plan and the coverage wisely according to your need and requirement is highly recommended. 

  • Selected Policy Term: A buyer should always go for a longer tenure, as they have to pay a small premium. Hence it is economical.

  • Online Purchasing of the Term: If a buyer is buying the term online, it is convenient in terms of paying and cost-effective as well.

  • Occupation of the Buyer: Individuals working as fishermen, miners, firefighters, etc., are considered dangerous because of the nature of the work. Buyers with these occupations might need to pay slightly higher premiums.

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

In Conclusion

The benefit received for the Term Insurance Plans from SBI Life is much higher than the payment done. It is necessary to have a premium plan to take care of their family. The Term Insurance Plan Calculator by SBI Life helps you to calculate the term plan insurance premiums and decide the plans fit for you.

FAQ's

  • As smoking increases the chances of getting lung and throat cancer, smokers need to pay higher premiums than non-smokers.
  • Firstly, the plans offered by SBI are quite affordable. Second, SBI's claim settlement ratio is 94.52% FY 2019-20, making it a reliable company to buy insurance from.
  • Purchasing online Term Insurance is an easy and hassle-free process. It is entirely safe as its payment is made through a safe payment gateway.
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SBI Life Term Insurance 1 Crore Calculator
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SBI Life Term Insurance 1 Crore Calculator Reviews & Ratings

4.3 / 5 (Based on 29 Reviews)
(Showing Newest 10 reviews)
Rishi
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.
Sudhir
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.
Awedesh
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.
Vinay
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.
Ojasvi
Sorada, August 24, 2016
Good
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.
Devesh
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.
Nirbhaya
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.
Pulkit
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.
Lokendra
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.
Rahul
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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