Have you planned for the monetary requirements of your family in case of an emergency? If you have not planned yet then immediately provide sufficient protection for their monetary requirements. Apply for an SBI Term Insurance Plan which provides Smart Shield to your family in an emergency. So, having this SBI Term Insurance Plan you can gain peace of mind by knowing that your family is financially secure.

What Is SBI Term Insurance Plan

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What Is SBI Term Insurance Plan?

SBI Life Insurance Company has launched a new term policy. With this SBI term insurance plan, it is also providing the benefit of health cover. Under this policy called ‘SBI Life Full Protection’, 36 serious diseases have been included. The specialty of this SBI term insurance plan is that as the period of policy increases, the cover of serious illnesses will also increase.

He also said that the cover for serious diseases along with aging will also increase. In the first half of the current financial year, the total premium income of SBI Life is INR 9,248/- crore. The company got premium of INR 4,288/- crore from the new business. The premium of the company has been 44%.

In the last financial year, the company had received a premium of INR 21 thousand crores. It includes a new premium income of 10 thousand crores.

Now let’s take a glance at different types of SBI term insurance plans and also its features.

Types Of SBI Term Insurance Plans

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Types Of SBI Term Insurance Plans

There are 4 types of SBI term insurance plans available in the insurance market. These SBI term insurances are as follows.

SBI Life Grameen Bima

This plan is mainly intended for the welfare of backward sector. No health check-up is required for this plan. In case of the life insured person’s death during the term of this plan, the assured sum will be then paid to its nominee.

Policy Term:

5 years

Entry Age:

Minimum 18 years to maximum 50 years

Premium Amount:

Minimum INR 3,500/- on the basis of maximum coverage

Sum Assured:

Minimum INR 10,000/- to maximum INR 50000/-

SBI Life eShield

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SBI Life eShield

You can buy the SBI Life eShield term insurance plan online at a low premium and hassle-free needless paperwork. The Tax profit is available on the premium paid.

The consumer can select from 4 available policy choices under the online SBI life eShield. These are as follows:

  1. Increasing Cover with Accidental Death Benefit
  2. Level Cover with Accidental Death Benefit
  3. Level Cover
  4. Increasing Cover

Policy Term:

Minimum 5 years to maximum 30 years

Entry Age:

Minimum 18 years to maximum 65 years

Premium Amount:

Minimum INR 3,500/- on the basis of maximum coverage

Sum Assured:

Minimum INR 20,00000/- and there is no maximum limit

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SBI Life Saral Shield

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SBI Life Saral Shield

Tax profit is also available on the paid premium. The consumer can select from 3 available policy options. The subsequent noncompulsory plans for riders can be chosen to get more comprehensive coverage.

Policy Term:

Minimum 5 years to maximum 30 years

Entry And Maturity Age:

Minimum 18 years to maximum 60 years entry age and the maturity age is maximum 65 years

Premium Amount:

The Regular Pay is INR 2,000/- and the Single Pay is minimum INR 10,000 on the basis of maximum coverage

Sum Assured:

Minimum INR 7.5 lakhs to maximum INR 24 lakhs

SBI Life Smart Shield

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SBI Life Smart Shield

Tax profit is also available on the paid premium. The subsequent noncompulsory plans for riders can be chosen to get more comprehensive coverage. The consumer can select from 3 available policy options. These are as follows:

  • Increasing Term Assurance
  • Level Term Assurance
  • Decreasing Term Assurance (Family Income Protection)
  • Decreasing Term Assurance (Loan Protection)

Policy Term:

Minimum 5 years to maximum 30 years

Entry And Maturity Age:

Minimum 18 years to maximum 60 years entry age and the maturity age is maximum 65 years

Premium Amount:

The Regular Pay is INR 5,000/- and the Single Pay is minimum INR 15,000 on the basis of maximum coverage

Sum Assured:

Minimum INR 25 lakhs and there is no maximum limit

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