Sbi Term Insurance vs Bajaj Term Insurance Plan Term Insurance 2026 | PolicyX
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Sbi Term Insurance

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Bajaj Term Insurance Plan

Rating
Number of term insurance plans and add-ons
Annual Premiums Collected (2024-25)

Annual Premiums Collected (2024-25)

₹ 984.63 Cr

Annual Premiums Collected (2024-25)

₹ 160.06 cr
Payout Options

Payout Options

Lump sum, monthly, or a combination of both

Payout Options

Lump sum, monthly, Lump sum + monthly, Lump sum + increasing monthly payout
Claim ratio

Payout Options

98.56%%

Payout Options

99.66%%
Solvency Ratio

Solvency Ratio

1.96

Solvency Ratio

2.69
Pan India Presence

Pan India Presence

1154

Pan India Presence

598
Riders Available

Riders Available

Accidental Cover / Accidental Death Benefit Rider, Critical Illness Cover / Criti Care, Disability Cover / Accidental Total and Permanent Disability Rider, Extra Life Cover, Preferred Term Rider

Riders Available

Terminal Illness Rider, Waiver of Premium Benefit Rider, Critical Illness Rider, Accidental Permanent Total/Partial Disability Benefit Rider, Accidental Death Benefit Rider, Family Protect Rider
Inception year

Inception year

2000

Inception year

2001
Complaint ratio per ₹1 crore of premium collected

Complaint ratio per ₹1 crore of premium collected

0.008

Complaint ratio per ₹1 crore of premium collected

0.029
Average claim settlement time

Average claim settlement time

30 days

Average claim settlement time

24 hours
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Types of SBI Term Insurance Plans

Every plan currently being sold by SBI Term Insurance, shown side-by-side so you can shortlist quickly.

SBI Life Arogya Shield Plan

SBI Life Arogya Shield is a unique combination plan, offering both health and pure term life insurance under a single policy. It p... Read More

Unique Features

  • Combination Plan
  • Hospitalization Cover
  • Discount on Premiums
Sum AssuredEntry Age - 18 Years
Entry AgeMax Entry Age - 65 Years
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SBI Smart Swadhan Supreme

The SBI Smart Swadhan Supreme is a Term Return of Premium plan, offering long-term life protection with the added benefit of retur... Read More

Unique Features

  • Maturity Benefits
  • Flexible Policy Term
  • Tax Benefits under Section 80C
Sum AssuredEntry Age - 18 Years
Entry AgeMax Entry Age - 60 Years
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SBI Life Saral Swadhan Supreme

SBI Life Saral Swadhan Supreme offers term insurance that provides financial security for dependents, uniquely returning 100% of a... Read More

Unique Features

  • Affordable plan
  • Return of premium option
  • Tax benefits
Sum AssuredMinimum Entry Age: 18 years
Entry AgeMaximum Entry Age: 60 years
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SBI Life Smart Shield

SBI Life Smart Shield is a term insurance plan offering pure protection, with options for either a consistent Level Term Assurance... Read More

Unique Features

  • Two Plan Options
  • Premium Discounts
  • Tax Benefits
Sum AssuredEntry Age: 18 Years
Entry AgeMax Entry Age: 60 Years
View plan

SBI Life eShield Plan

SBI Life eShield is an online pure protection term insurance plan, offering financial security for families in the policyholder's ... Read More

Unique Features

  • Choose your sum assured
  • Terminal illness cover
  • Non-smoker discounts
Sum AssuredMinimum Entry Age: 18 Years
Entry AgeMaximum Entry Age: 65 Years
View plan

SBI eShield Next Plan

The SBI Life eShield Next is a flexible term insurance plan designed to adapt to changing needs, offering whole life cover up to a... Read More

Unique Features

  • Better Half Benefit
  • Three Plan Options
  • Terminal Illness Benefit
Sum AssuredEntry Age: 18 years
Entry AgeMax Entry Age: 65 years
View plan

SBI Life Grameen Bima Yojana

The SBI Life Grameen Bima Yojana is a microinsurance term plan providing financial security with easy enrollment and instant proce... Read More

Unique Features

  • Instant Processing
  • Easy Enrollment
  • Single Premium
Sum AssuredEntry Age: 18 Years
Entry AgeMaximum Entry Age: 50 Years
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SBI Life Poorna Suraksha

SBI Life Poorna Suraksha is a non-linked, non-participating term insurance plan that combines life cover with financial protection... Read More

Unique Features

  • Covers 36 Critical Illnesses
  • Avail Premium Waiver
  • Avail Fixed Premium
Sum AssuredMinimum Entry Age: 18 years
Entry AgeMaximum Entry Age: 65 years
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SBI Life Smart Swadhan Plus

SBI Life Smart Swadhan Plus is a return of premium term insurance plan offering financial protection with the unique benefit of re... Read More

Unique Features

  • Return of Premium Feature
  • High Sum Assured Discount
  • Life Cover Up To 75 Years
Sum AssuredMinimum Entry Age: 18 Years
Entry AgeMaximum Entry Age: 65 Years
View plan

SBI Saral Jeevan Bima

SBI Life Saral Jeevan Bima is a standard, non-linked, non-participating pure protection life insurance plan offering financial sec... Read More

Unique Features

  • Standard Plan
  • Affordable Premiums
  • Tax Benefits
Sum AssuredMinimum Entry Age: 18 Years
Entry AgeMaximum Entry Age: 60 Years
View plan

SBI Life Saral Swadhan Plus Plan

SBI Life Saral Swadhan Plus is a non-linked, non-participating life insurance plan offering a fixed life cover and guaranteed matu... Read More

Unique Features

  • Death Benefit
  • Maturity Benefit
  • Survival Benefit
Sum AssuredMinimum Entry Age: 18 years
Entry AgeMaximum Entry Age: 55 years
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SBI Smart Shield Plus

The SBI Life Smart Shield Plus is a term insurance plan offering financial protection up to 100 years, with flexible options to su... Read More

Unique Features

  • Choice of Plan Options
  • Optional Better Half Benefit
  • Lower Rates for Female Lives
Sum AssuredEntry Age: 18 years; Maximum Entry Age: 65 years; Minimum Sum Assured: Rs 25 lakhs; Maximum Maturity Age: 100 years; Premium Payment Term (PPT): Regular Pay (RP)/Single Pay (SP)/Limited Pay (LP).
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SBI Life Smart Platina Advantage

SBI Life Smart Platina Advantage is a specific term insurance plan offered by SBI Life. It provides crucial financial protection, ... Read More

Unique Features

  • Guaranteed Regular Income
  • Life Insurance Cover
  • Guaranteed Maturity Benefit
Sum AssuredEntry age: 3 to 60 years
Entry AgeMaximum maturity age: 75 years
View plan

Types of Bajaj Term Insurance Plans

Every plan currently being sold by Bajaj Term Insurance, shown side-by-side so you can shortlist quickly.

Bajaj iSecure plan

Bajaj iSecure is a non-linked, non-participating term insurance plan offering advanced, low-cost coverage with a 105% death benefi... Read More

Unique Features

  • 105% Death Benefit
  • Rider Benefit
  • 50 Lakhs Max Sum Assured
Sum AssuredMinimum Entry Age: 18 Years
Entry AgeMaximum Entry Age: 65 Years
View plan

Bajaj Life Secure

Bajaj Life Secure is a whole life term insurance plan offering coverage up to 100 years, with flexible premium payment terms and c... Read More

Unique Features

  • 3 Plan Options
  • Critical Illness Benefit
  • Waiver of Premium
Sum AssuredMinimum Entry Age: 18 Years
Entry AgeMaximum Entry Age: 65 Years
View plan

Bajaj Saral Jeevan Bima

Bajaj Saral Jeevan Bima is a pure-risk term insurance plan providing financial security with a death benefit and tax advantages un... Read More

Unique Features

  • Death Benefit
  • Tax Benefit
  • 25 Lakh Max Sum Assured.
Sum AssuredMinimum Entry Age: 18 Years
Entry AgeMaximum Entry Age: 65 Years
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Bajaj iSecure Loan

The Bajaj iSecure Loan Term Insurance Plan provides crucial debt protection, ensuring outstanding home, personal, or other long-te... Read More

Unique Features

  • Protection against loan
  • Joint life cover
  • Rider benefits
Sum AssuredMinimum Entry Age: 25 years
Entry AgeMaximum Entry Age: 60 years
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Bajaj Lifestyle Secure

Bajaj Lifestyle Secure is a term insurance plan that combines life cover with protection against critical and terminal illnesses. ... Read More

Unique Features

  • Level Cover Term
  • Terminal Illness Cover
  • Flexible-Premium Payment Term
Sum AssuredEntry Age: 18 years
Entry AgeMaximum Entry Age: 50 years
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Bajaj Life Smart Protect Goal

The Bajaj Life Smart Protect Goal is a flexible and economical term insurance plan, offering four distinct variants and the option... Read More

Unique Features

  • Critical illnesses covered
  • Return of Premiums
  • 4 Plan variants
Sum AssuredEntry Age: 18 Years
Entry AgeMaximum Entry Age: 65 Years
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Bajaj Life Diabetic Term Plan Sub 8 HbA1c

The Bajaj Life Diabetic Term Plan Sub 8 HbA1c offers term insurance coverage tailored for pre-diabetics and type 2 diabetics, ensu... Read More

Unique Features

  • Keep Fit Benefit
  • Health Coaching
  • Second Medical Opinion
Sum AssuredMinimum Entry Age: 30 Years
Entry AgeMaximum Entry Age: 60 Years
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Bajaj iSecure More

The Bajaj iSecure More is an increasing cover term insurance plan that provides a financial safety net, with the sum assured growi... Read More

Unique Features

  • Flexible Policy Tenure
  • Option to Avail Joint Life Cover
  • High Sum Assured Rebate
Sum AssuredMinimum Entry Age: 18 years
Entry AgeMaximum Entry Age: 60 years
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Bajaj Life Superwoman Term Insurance Plan

Bajaj Life Superwoman Term Insurance is a specialized plan for women, offering comprehensive financial protection for their famili... Read More

Unique Features

  • Critical Illness Cover
  • Free Health Management Services
  • Child Care Benefit
Sum AssuredEntry age: 18 years Maximum entry age: 60 years Minimum sum assured: ₹50 lakhs Maximum maturity age: 99 years Premium Payment Term (PPT): Regular Pay (RP)
Entry AgeSingle Pay (SP)
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Term Insurance Articles

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Expert Reviewed

Reviewed By: Naval Goel

Naval Goel has over a decade of expertise in the insurance sector, having worked with companies like AIG, New York. He is an Associate Member of the Indian Institute of Insurance, Pune, and is authorized by IRDAI to act as Principal Officer of PolicyX.com Insurance Web Aggregator.

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