SBI Life Smart Shield Premier

SBI Life - Smart Shield Premier is a plan designed for individuals who want enha ...Read More

Happy Customers

No Spam, No Gimmicks

Genuine, honest, and hassle-free

Buy Policy in just 2 mins

Personalised Insurance Advice

Advice that fits your life

Easy and Efficient

24*7 Claim Assistance

24/7 hassle-free claim support

Google Ratings (2500+)

11+ Years

IRDAI Approved

5M+

Quotes Generated

100K+

Happy Customers

PolicyX is one of India's leading digital insurance platform

Customized Term Insurance Plan for you.

Get upto 10% Online Discount*

GENDER

Google Ratings (2500+)

11+ Years

IRDAI Approved

5M+

Quotes Generated

100K+

Happy Customers

PolicyX is one of India's leading digital insurance platform

PolicyX Exclusive Benefits

No Spam

No Spam
No Gimmicks

Advice

Personalised
Insurance Advice

Support

24×7
Claim Assistance

SBI Life Smart Shield Premier

Introduction

SBI Life - Smart Shield Premier is a plan designed for individuals who want enhanced financial protection and flexibility. This plan offers enhanced financial protection and flexibility, designed to meet the needs of individuals seeking comprehensive life coverage and growing financial security. It goes beyond standard life cover by providing automatic growth in sum assured, flexible payout options, and a high minimum entry threshold. The policy adapts with your growing responsibilities while ensuring that your loved ones get the right support when they need it.

This plan offers you various benefits including:

why-choose
  • Automatic Inflation Shield
  • Affordable Financial Security
  • Premium Payment Flexibility
  • Enhanced Rider Protection
  • Tax Advantages

Eligibility Criteria for SBI Life STEP Plan

Your Occupation

Entry age

18 years-60 years

Mukhyamantri Amrutam Yojana

Maturity age

85 years

Your Gender

Policy tenure

10 years- 85-entry age

Maternity Benefit Rider

Premium payment term

Limited pay, regular pay

Dr YSR Aarogyasri Trust

Premium payment frequency

Monthly, yearly, half-yearly

Maternity Benefit Rider

Sum assured

2 crores to no limit

How Does SBI Life Smart Shield Premier plan work?

Let’s understand how the SBI Life Smart Shield Premier plan works with the help of a simple illustration.

Why Buy Term Insurance Online?

Problem

Mr. Verma wants a term insurance with high-value protection. He expects his responsibilities to grow over time. He wants his family to have total authority over how the claim is received.

Solution

Mr. Verma chose the SBI Life Smart Shield Premier plan, with flexible nominee options and automatic sum assured increase. At 30 years old, he opted for a ₹2 Crore sum assured, paying an annual premium of ₹55,000 for 30 years.

Let's understand how the SBI Life Smart Shield Premier plan works for him with a premium illustration table.

Age of policyholder Annual premiums Policy tenure Premium payment term Sum assured Maximum Sum Assured with increase Total premiums paid
30 years Rs. 55000 30 years 30 years Rs. 2 Crore ₹4 Crore Rs ₹16,50,000

Features of SBI Life Smart Shield Premier

Here are some features of SBI Life Smart Shield Premier:

SBI Life Insurance Life Plan

SBI Life Smart Shield Premier

SBI Life Smart Shield Premier

Introduction SBI Life - Smart Shield Premier is a plan designed for individuals who want enhanced financial protection and flexibility. This plan offe...

Unique Features

  • abcd

SBI Life Smart Shield Premier (Pros)

SBI Life Smart Shield Premier

SBI Life Smart Shield Premier (Cons)

SBI Life Smart Shield Premier

SBI Life Smart Shield Premier (Other Benefits)

SBI Life Smart Shield Premier

SBI Life Smart Shield Premier (Eligibility Criteria)

SBI Life Smart Shield Premier

SBI Life Smart Flexi Term Plus

SBI Life Smart Flexi Term Plus

SBI Life Flexi Smart Plus is a non-linked life insurance plan    This plan offers the required comprehensive life insurance cover along with...

Unique Features

  • Offers Surrender Benefit
  • Tax Benefits Available
  • 100% Guaranteed Returns

SBI Life Smart Flexi Term Plus (Pros)

SBI Life Smart Flexi Term Plus
  • Guaranteed Bonus
  • Partial Withdrawls
  • Interim Bonus

SBI Life Smart Flexi Term Plus (Cons)

SBI Life Smart Flexi Term Plus
  • No Policy Loan
  • Funds to invest
  • Spouse cover

SBI Life Smart Flexi Term Plus (Other Benefits)

SBI Life Smart Flexi Term Plus
  • Death Benefit
  • Maturity Benefit
  • Tax Benefit

SBI Life Smart Flexi Term Plus (Eligibility Criteria)

SBI Life Smart Flexi Term Plus
  • Minimum entry age-18 years
  • Maximum entry age-60 years
  • Minimum policy term- 5 years
  • Maximum policy term-30 years
  • Maximum sum assured- Rs. 50
  • 000
Tired of Pushy Sales? Get Insurance, Your Way Tired of Pushy Sales? Get Insurance, Your Way

Benefits of the SBI Life - Smart Shield Premier plan

Absolute sum assured on death options: You can choose one of the two options:

  • Increasing cover: The sum assured increases by 10 percent every 5th policy year. The rise continues until it reaches 100 percent of the original Sum Assured. The increase will stop once the life assured reaches the age of 71. This benefit is designed to offset inflation and rising family responsibilities.
  • Level cover: The sum assured stays constant throughout the policy term. It is suitable for those with stable financial responsibilities.

Sum assured on death: The payout on death is the highest of the following:

  • Absolute Sum Assured on Death
  • 11 times the annualised premium
  • 105 percent of total premiums paid till the date of death

Payout options for the nominees: The nominee decides how to receive the death benefit at the time of claim, be it a one-time lump sum payment, a monthly income paid over 5, 10, or 15 years, or a combination of lump sum and monthly income.

Documents Required to Buy SBI Life Smart Shield Premier plan

Here is the list of documents required to buy the SBI Life Smart Shield Premier plan:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy SBI Life Smart Shield Premier?

You can buy the SBI Life Smart Shield Premier official website or one of their nearest branch offices.

 

Life Insurance
  • Step 1

    Visit the official website of PolicyX.com.

  • Step 2

    Click on the ‘Term’ tab.

  • Step 3

    A new page will appear on the screen.

  • Step 4

    Fill out the form at the top of the page with the necessary details.

  • Step 5

    Select your income and city. Click on 'Proceed'.

  • Step 6

    Update your education and occupation details.

  • Step 7

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 8

    Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

Life Insurance
  • Step 1

    Visit the official website of SBI Life Insurance Company.

  • Step 2

    Hover over the ‘Plans’ and click on ‘Term Plans’.

  • Step 3

    Click on ‘Online Plans’ and choose ' SBI Life Smart Shield Premier plan'.

  • Step 4

    Click on ‘Know More’ and you will be redirected to a new page.

  • Step 5

    Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.

  • Step 6

    Once discussed you can make the premium payment and get the policy documents.

Exclusions of the SBI Life - Smart Shield Premier plan

  • No payout will be provided if death occurs within 12 months from policy inception due to suicide
  • During the first 3 years, the insurer can check and reject a claim. It applies if false data is found. For fraud cases, there is no payout. Under Section 45, once the policy completes 3 years from inception or last revival, the insurer loses the right to question it for misstatement or non-disclosure.
  • There is no paid-up benefit if premiums are not paid within the grace period.

Riders of SBI Life - Smart Shield Premier plan

SBI Life - Smart Shield Premier plan offers two options. You can choose one of them to strengthen your base life cover. You can add riders at the policy inception and at the policy anniversary during the premium payment term. Here are the two major rider options:

  • Accidental death benefit: This rider pays an additional amount if death takes place due to an accident. It helps families manage sudden financial shock caused by accidental death.
  • Accidental Partial Permanent Disability Benefit: This amount provides financial support if an accident results in partial permanent disability. It helps compensate for loss of income and increased lifestyle or medical expenses.

SBI Life - Smart Shield Premier Plan: FAQs

1. What is SBI Life Smart Shield Premier?

SBI Life Smart Shield Premier is a pure term plan providing high cover from ₹2 crore, with flexible premiums, level or increasing cover, riders, and payout options for long-term family safety.

2. What are the benefits of SBI Smart Shield Premier?

SBI Shield provides pure term protection or increasing cover, coverage till 85, flexible premium terms, optional riders, health discounts, and tax benefits.

3. What is the maximum maturity age in SBI Life Smart Shield Premier?

The maximum maturity age in SBI Life Smart Shield Premier is 85 years.

4. How is the death benefit paid under SBI Life Smart Shield Premier?

Under SBI Life Smart Shield Premier, to file a claim, the policyholder has to submit the claim documents. The nominee will get the highest sum assured on Death via lump sum, monthly installments, or 50/50 split.

5. Does SBI Life Smart Shield Premier offer any maturity benefits?

No, SBI Life Smart Shield Premier does not offer any maturity benefits.

6. Does SBI Life Smart Shield Premier offer financial protection at an affordable cost?

Yes, SBI Life Smart Shield Premier provides financial protection at affordable rates with options to improve coverage via riders and flexibility in premium payment.

Life Insurance Companies

Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.

Share your Valuable Feedback

Rating Icon

0

Rated by 0 customers

Was the Information Helpful?

Select Your Rating

We would like to hear from you

Let us know about your experience or any feedback that might help us serve you better in future.

Reviews and Ratings

You May Also Know About:

Term Insurance Life Insurance Life Insurance Companies Child Plans Investment Plans Pension Plans ULIP Plans