SBI Life Insurance
SBI Life – Smart Shield Premier is a plan designed for individuals see ...Read More
A quick read on what this SBI Life Insurance term plan covers and why it might be a fit for you.
SBI Life - Smart Shield Premier is a plan designed for individuals who want enhanced financial protection and flexibility. This plan offers 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:
Let’s understand how the SBI Life Smart Shield Premier plan works with the help of a simple illustration.
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.
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 | ₹55,000 | 30 years | 30 years | ₹2 Crore | ₹4 Crore | ₹16,50,000 |
Absolute sum assured on death options: You can choose one of the two options:
Sum assured on death: The payout on death is the highest of the following:
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.
Key features that make SBI Life Smart Shield Premier stand out.
Grace period
You get around 30 days to pay the premium if you pay yearly or half-yearly, and 15 days if you pay monthly.
Free look period
You get 30 days from the day you receive the document. You can use this time to review terms and conditions.
Revival of policy
If your policy lapses, you can revive the plan within 5 years from the first missed premium. You must pay all due premiums in addition to the interest.
Surrender value
Regular premium plans do not pay any surrender value at any stage. Limited premium plans provide surrender value only after 2 full years of premiums are paid.
Policy loans
The plan does not provide any kind of loan facility.
Keep these documents handy when applying for SBI Life Smart Shield Premier.
Photo ID Proof
Photo ID Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.
Age Proof
Age Proof (either of one) - Passport, Aadhaar card, PAN card, Driving license.
Address Proof
Address Proof (either of one) - Utility bill, passport, voter ID, ration card.
Medical Records
Medical Records of the policyholder if requested.
Income Proof
Income Proof (either of one) - bank statement, last three months' salary slips (if you are salaried).
SBI Life Smart Shield Premier provides strong financial protection built for high achievers. It offers a large life cover that increases as your responsibilities grow. The policy ensures your family has authority over claim settlements and access to high-value protection when it matters most. With structured characteristics, eligibility for high-net-worth individuals, and safeguards such as revival and free-look periods, it establishes a financial framework that balances risk management with long-term safety.
Here are the key features of the SBI Life Smart Shield Premier.
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:
The 6 most-asked questions about SBI Life Smart Shield Premier, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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