SBI Life eShield Term Insurance Review

State Bank of India is the most reputed and popular Government Bank which gives services to the Indian people since July 1955. Today we will discuss Insurance policies which are most important for us. State Bank of India SBI launched “SBI Life eShield Next” Term Insurance While strengthening your physical immunity, you need to build your financial immunity to prepare for life’s uncertainties. With a new age protection plan that enables you to take care of your current requirements and your changing responsibilities, you can boost your family’s financial power in an ever-changing world.

SBI Life eShield Next Insurance comes with Level Cover with Future Proofing Benefit Option, Death Benefit, Better Half Benefit Option and Life Cover Upto 100 Years^ to suit your protection needs. Life covers up to 100 years (Whole life) or 85 years (other than Whole Life) with Terminal Illness Benefit available under all Plan options. It has the option to Pay a premium – Only once or for a limited period or entire policy term.

Additional coverage through two Ridar* options such as *The Riders under this product are SBI Life – Accidental Death Benefit Rider (UIN: 111B015V03) and SBI Life – Accidental Total & Permanent Disability Benefit Rider (UIN: 111B016V03).

  • Security: Avail financial security for your family based on your chosen Plan Option.
  • Flexibility: Choice of 3 plan options.
  • Simplicity: Customize the plan to meet your requirements through Death Benefit Payment mode and the Better Half Benefit option.
  • Reliability: Life covers up to 100 years (Whole life) or 85 years (other than Whole Life).
  • Affordable: A perfect fit in your financial planning with a reasonable premium.

Depending upon the plan option chosen, the nominee/beneficiary will receive the following Death Benefit: provided the policy is in force as on the date of death of the life assured.

  • Death Benefits:
  • For Regular and Limited Premium Policies: Ten times the annualised1 premium or absolute amount Assured+ to be paid on death or 105% of the total2 premiums received up to the death.
  • For Single Premium Policies: 1.25 times of a single premium or absolute amount assured+ to be paid on death.

In the unfortunate event of the life assured being diagnosed with a terminal illness, during the policy term, or before attainment of 80 years, whichever is earlier the benefit equal to the sum assured on death as on date of diagnosis would be payable, subject to a maximum of Rs. 2,00,00,000 (for in-force policies) would be payable. Following the claim under the Terminal illness benefit, if the Sum assured is higher than the Terminal Illness benefit paid, the balance death benefit will be paid on the death provided the policy is in force. The policyholder is required to pay the reduced premium for the balance death benefit to keep the policy in force.

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