Eshield Plan vs Canara Saral Term Insurance Plan 2026 | PolicyX

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SBI Life - eShield is an online term insurance plan that is designed for tech-savvy, educated, high-net-worth individuals interested in buying a pure protection cover.
We can never know what the future holds for us. And when you've the responsibility of supporting the family on your shoulders, then it becomes very crucial to have a backup plan that can take care of the future of your loved ones in case you're no longer around. Luckily, SBI Life Term Insurance Company has recently launched a new plan called 'SBI Life eShield Term Policy', which acts as a protective shield for your family members after your unfortunate demise. This plan is fabricated for a responsible person who comprehends and identifies the need for financial protection after his demise.

The plan is considered highly valuable as it shifts the burden and tension of future contingencies of the policyholder and eliminates the stress for future expenditures. It has inbuilt coverage for a terminal illness, where the whole sum assured is paid immediately to lessen the liabilities incurred in the past.

SBI eShield Plan benefits include: 

  • Choice of Life Cover
  • Increasing or Level Cover
  • Tax Benefits As Per Laws
  • Discounts for Non-Smokers
  • In-built Terminal Illness Cover
  • Multiple SBI Life eShield Premium Payment Term Cover

PLAN DETAILS

Eshield Plan

Canara Saral

Premium Including GST
Key Features
(Key features of the plan)
  • Choose your sum assured
  • Terminal illness cover
  • Non-smoker discounts
  • Get Accidental Cover
  • Premium Discount for Female
  • Multiple Premium Paying Term
Plan Maturity age Maximum Maturity Age - 80 years Maximum Maturity Age - 70 years
Plan Sum Assured Basic Sum Assured: ₹50L to No LImit Basic Sum Assured: Rs. 5 Lakhs to Rs. 25 Lakhs
Plan Entry Age Minimum Age - 18 years Maximum Age - 65 years Minimum Age - 18 years Maximum Age - 65 years
Plan Payment modes Yearly, Half-yearly,& Monthly Yearly, half-yearly & monthly
Plan Policy loan The policy loan is not available under SBI Life eShield Plan. The policy loan is not available under Canara HSBC Saral Jeevan Bima Plan.
Plan Sample Premium Rs 521-/ per month Rs 508-/ per month
Plan Brochure Brochure URL Brochure URL
Policy Term Minimum term - 5 years Maximum term - 85-less than entry age years Minimum term - 5 years Maximum term - 40 years
Claim Settlement Ratio (2024-25) 98.83% 99.43%
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* The above sample premiums are for a 30-year-old male, nonsmoker with a sum assured of Rs 50 lakhs and a policy tenure of 25 years. You can calculate the premiums for the above term insurance plans using the PolicyX Term Insurance Calculator.

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