SBI Term Insurance

SBI term insurance plans offer high life cover at affordable premiums, discounts on premiums, health cover along with life cover, terminal and critical illness cover, premium break facility and tax benefits. You can buy them online or offline.

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sbi Term Insurance

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Everything about the SBI Term Plans

Since you decided to purchase a term insurance Plan to secure your family financially in your absence, You will see many Term insurance plans in the market. But what if there are Term insurance Plans that have the market's best features? SBI Term Plans are designed to fulfill customers with various needs and demands. SBI Term plans offer features like whole life cover till 100 years, better half protection, cancer protection and maturity benefits all are included in the same plans.

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SBI Term Insurance

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SBI Term Insurance | Best Life Insurance Policy In India

SBI Term Insurance | Best Life Insurance Policy In India

sbi Term Insurance Key Features

SBI Life Best Term Insurance Plans

SBI Life Insurance (SBI) offers multiple variants of Term insurance plans to provide financial protection against life's uncertainties.

  • SBI Life Arogya Shield
  • SBI Life e-Shield Next
  • SBI Life Saral Jeevan Bima
  • SBI Life Sampoorn Cancer Suraksha
  • SBI Life Smart Shield
  • SBI Life Grameen Bima

Standard Plan

SBI Life Arogya Shield

SBI Life Arogya shield is a dual protection plan that covers health along with the life insurance cover. The plan comes with affordable premiums and offers discounts also.

Unique Features

  • 5% Discount on Premiums
  • OPD Coverage
  • Maternity Cover

SBI Life Arogya Shield (Pros)

  • Mental Illness Cover
  • Pre & Post Hospitalization
  • HIV/AIDS Cover

SBI Life Arogya Shield (Cons)

  • No Loans Allowed
  • No cover for suicide
  • No rider Benefits

SBI Life Arogya Shield (Other Benefits)

  • 141 Day Care Procedures
  • Tax Saving on 80D and 80C (Health & Life Premiums)
  • Multiple Sum Insured (1, 2 & 3L )

SBI Life Arogya Shield (Eligibility Criteria)

  • Entry Age - 90 Days (Health) 18 Years (Life)
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - 70 Years
  • Premium Payment Term - Regular Premium (Annually)

Online Plan

A protection plan offering 3 plan options to choose from along with a Terminal Illness Benefit that allows you to enhance your protection with Riders.

Unique Features

  • Online Plan
  • Increasing Cover on Life Stages
  • 100 Years Life Cover

SBI Life e-Shield Next (Pros)

  • 2 Rider Options
  • Better Half Benefit Option
  • Guaranteed Surrender Value

SBI Life e-Shield Next (Cons)

  • No Loans Allowed
  • No Maturity Benefit
  • Suicide no covered

SBI Life e-Shield Next (Other Benefits)

  • Life Cover with Future Proofing Benefit
  • Death Benefit Options
  • Terminal Illness Cover on all Variants

SBI Life e-Shield Next (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 50 L
  • Maximum Maturity Age - 85 Years
  • Premium Payment Term - SP/RP/LP

Standard Plan

An Individual, Non-linked Pure Risk premium product, that offers complete protection to the family members.

Unique Features

  • Life Cover with Future Proofing Benefit
  • 100 % Death Benefit
  • Max Sum Assured 25 Lakh

Saral Jeevan Bima (Pros)

  • Available For Online Buying
  • Spouse Cover
  • Max Sum Assured 25 Lakh

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima (Other Benefits)

  • Easy Claim Settlement Process
  • Avail Tax Benefits
  • Flexible-Premium Payment term

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 65 years
  • Minimum Sum Assured-5 L
  • Maximum Maturity Age- NA
  • Premium Payment Term-RP/SP/LP(5&10 Years)

Cancer Plan

SBI Life Sampoorn Cancer Suraksha

This plan provides extensive coverage from Minor Stage Cancer to Advanced Stage Cancer, offering up to 150% of the Sum Assured, while maintaining fixed premiums for 5 policy years.

Unique Features

  • Stage-wise Lumpsum Payout Benefit
  • Early Stage 30% SA
  • Major Stage 100% SA

Sampoorn Cancer Suraksha (Pros)

  • Sum Assured Reset Benefit
  • Medical Second Opinion Benefit
  • 50L Maximum Sum Assured

Sampoorn Cancer Suraksha (Cons)

  • No Loan Benefit
  • No Spread to Lymph Nodes Cover
  • No Maturity Benefit

Sampoorn Cancer Suraksha (Other Benefits)

  • No Medical Examination
  • Premium Waiver Benefit
  • Large Sum Assured Discount

Sampoorn Cancer Suraksha (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 65 years
  • Minimum Sum Assured-10 L
  • Maximum Maturity Age- 75 Years
  • Premium Payment Term - 5 to 30 Years

Standard Plan

SBI Life Smart Shield is a pure term plan that offers two options – Level Term Assurance and Increasing Term Assurance and offers additional riders for enhanced protection.

Unique Features

  • Coverage at an affordable cost.
  • Lower premiums for non-smokers.
  • Discount on larger sum assured.

SBI Life Smart Shield (Pros)

  • Two Plan Options
  • Accidental Total and Permanent Disability Benefit Rider
  • Accidental Death Benefit Rider

SBI Life Smart Shield (Cons)

  • Premium Loading
  • No Loan Benefit
  • No Survival Benefit

SBI Life Smart Shield (Other Benefits)

  • Covers Suicide
  • Death Benefit
  • Accelerated Critical Illness Benefit

SBI Life Smart Shield (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 60 years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 80 Years
  • Premium Payment Term - 5 Yeras SP/RP

Rural Plan

SBI Life Grameen Bima

A Life Insurance Pure Risk Premium Product. It provides a life cover with a one-time premium payment. It is an affordable plan with surrender benefits.

Unique Features

  • Death benefit available.
  • Surrender allowed after 1st year.
  • No medical examination required.

SBI Life Grameen Bima (Pros)

  • Easy Enrolment
  • Suicide Cover
  • Fast Processing

SBI Life Grameen Bima (Cons)

  • No Loans Allowed
  • No Maturity Benefit
  • No Rider Benefits

SBI Life Grameen Bima (Other Benefits)

  • Min Single Premium Amount Rs 300
  • Max Sum Assured 50K
  • Tax Benefits

SBI Life Grameen Bima (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 50 years
  • Minimum Sum Assured - 10 K
  • Maximum Maturity Age - NA
  • Premium Payment Term - One-Time Payment at Inception

Why to Consider SBI Term Insurance Plans?

SBI Term Insurance offers comprehensive Coverage, and it ensures that your family is taken care of Financially in the event of your absence or unfortunate circumstances. Given below are the Following factors that help you to understand about SBI Term Insurance plans.

  • Death benefits

    SBI Term Insurance plans offer the highest death benefits to the nominee of the policyholder in case of demise during the policy term, which helps the family by Accessing financial freedom during the rest of their life.
  • Terminal Illness

    SBI Term Plans Offers Terminal illness benefits to the Policyholder in case any terminal illness comes out in diagnosis or policyholder is at the last stage of disease. Benefit refers to a lump sum amount, which can be used for treatment and other expenses.
  • Accidental death

    In SBI Term Plans, additional death benefits are paid to the nominee in case of the accidental death of the policyholder. To opt for these benefits Customer has to buy an Accidental Death rider, Which results in an additional death amount with the lumpsum amount paid.
  • Critical Illness

    In SBI Term Plans, the Policyholder will get a critical illness rider which helps them to get a lump sum payout in case any critical disease is diagnosed, like Cancer, HIV etc. For availing this rider Policyholder has to purchase a critical illness rider during the time of policy purchase.
  • Waiver of Premium

    SBI term life Plans offers a waiver of premiums benefits to its customers, which helps to waive policy premium, in case of any accident or critical illness while the policy will remain active up to the policy term. So, in case of the demise of the policyholder, the nominee will receive a Death benefit as well.
  • Premium Break Available

    SBI Term Life Plans offer two premium breaks or skips during the whole policy term, which helps the customers in tough times like job change, Hospitalization etc without negotiating with insurance. If Policy holder skips the Premium the policy term will remain the same or stay covered.

Types of Insurance plans offered by SBI term insurance

SBI Term Plan offered Multiple Insurance Plans , while seeing the needs and requirements of the customers. Some of the best Term plans are described below.

SBI Life arogya Shield

SBI life arogya Shield is Pure Term plan In which the policy holder will get dual benefits. This Plan provides health benefits as well as life protection in the same premiums amount.

Eligibility criteria

Terms Limits
Age Limit 91 days to 65 years.
Policy Term(Health) 1/2/3 years.
Premium Paying Modes(Health) 1/2/3 years.
Premium Paying Modes(Life) Single or Regular both
Sum assured limit (Health) 1-3 Lakh
Sum assured limit (Life) 5-25 Lakh

SBI Life eShield next

SBI life e shield is an online term insurance plan offered by SBi Term Plans, in which three plans are available to enhance your protection.

Eligibility criteria

Terms Limits
Age Limit 18- 45 years.
Maturity age 45 years
Premium Paying Modes(Life) Single, regular both.
Sum assured limit (Life) 50 lakh- No limit (Non Smoker)
50 lakh- 99 lakh (Smoker)

SBI Life saral jeevan bima

SBI life saral jeevan bima is a pure non linked term insurance plan that offers only death benefit.

Eligibility criteria

Terms Limits
Age Limit 18-65 years
Policy Term 05-40 years
Premium paying options Regular, Limited, One time
Sum assured limit 5-25 Lakh

SBI Life Sampoorn cancer suraksha

SBI Life sampoorn cancer suraksha, is a pure term plan that offered coverage from early to the last stage of cancer, The policyholder will opt up to 150% of sum assured from this plan.

Eligibility criteria

Terms Limits
Age Limit 18-65 years
Maturity age 75 years
Premium Paying Modes Single, one time, or limited
Sum assured limit 10-50 lakh

SBI Life Smart Shield

SBI life smart Shield is Pure Term plan In which offers both options - Level term assurance and increasing term assurance in the same plan.

Eligibility criteria

Terms Limits
Age Limit 18-60 years
Policy Term 5-80 years
Premium Paying Modes One time, Regular , Limited.
Sum assured limit 25 Lakh to no limit

SBI Life Grameen bima

SBI Life Grammen bima is a pure term insurance plan, which offers term insurance benefits at lower premiums and very few documents are required to purchase this plan.

Eligibility criteria

Terms Limits
Age Limit 18-65 years
Policy Term 5 years
Premium Paying Modes Single Pay
Sum assured limit 10-50 thousand

Types of rider available in SBI Term insurance Plans

SBI Term insurance Plans Provides different types of riders, according to needs and requirement of the customers:

  • SBI Life Accidental death benefits Rider

    Accidental Death benefits riders provide the policy holder, in case of accidental death. With this rider sum assured will be paid if the policyholder dies within 120 days from the accident. SBI Life accidental death benefit rider is available in all SBI Term plans.
  • SBI Life- Accidental total and permanent disability Rider

    Accidental total and permanent disability riders cover the policyholder if any accident occurs and that leads to the permanent disability of the policyholder. With the help of this rider a monthly payment can be paid to the policyholder until a policy term.

Features of SBI Term Insurance Plans

  • Accessible Premiums

    Term insurance plans are popular for providing large coverage at accessible premiums rates. So that every family in India can opt for term insurance and secure their family in tough times. SBI Term Insurance gives people access to secure their family with Accessible premiums.
  • Flexible Life cover

    Sbi Term Insurance Plans provide Multiple options to customers to choose coverage as per your Requirement.
    E.g- Mr. Akash(34) is employed in the private Sector, He has taken a House loan for 25 years, which he planned will be repaid before their retirement(60). So,He decides to take a SBI Term Insurance plan for 25 years, which helps to support their family in tough times and also helps to repay the home loan in their absence.
  • Flexible Premium paying facilities

    As Term insurance plans have multiple benefits, one of the most important benefits is Flexible premium Paying options. Customers can choose any option from given below:
    • Whole policy term
    • Limited Paying term
    • One Time pay
  • Branch Offices

    SBI Term insurance Provides one of the largest branch offices network all over india. Thousands of employees work 24/7 to support their customers in the best possible way.And helps policy holders' families in hard times.
  • Claim Settlement Ratio

    Claim Settlement Ratio is the metrics which helps measures no. of claims settled in one financial year. SBI Term Insurance Plans have one of the highest claim settlement ratios 93.09 which is almost best in the market.
  • Availability of Riders

    Riders play a very important factor while purchasing any term insurance plans. If it comes to increased sum assured, or accidental disability benefits etc. SBI Term Insurance provides each facilities.

How to Buy SBI Term Insurance 1 crore?

To Buy Any SBI Term Insurance which is not available online, you have to visit the nearby store.

Steps to buy from SBI Life Insurance company

Follow the below steps to buy SBI Life Term Insurance from the company's official website.

  • Visit the official website of SBI Term Plan.
  • Fill out the necessary details, and choose the Plan.
  • Click on proceed and Pay the Mentioned amount.
  • Once Payment Successfully Done, a confirmation receipt will be sended over your phone or text.

Steps to buy from

Steps to Buy SBI Term Plans from

  • Fill out the Details at the top of the page with all necessary details.
  • Fill your income and city, and click proceed.
  • Fill your education and Occupation details.
  • Select SBI Term Plan, according to your needs.
  • Select policy term, premium period and riders.
  • Click Proceed and Pay the mentioned amount.

Once Payment Successfully Done, a confirmation receipt will be sended over your mail and text.

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What Documents are required to raise claims in SBI Term Plans?

Here is the list of documents that are required to raise a claim in SBI term insurance plans.

  • Claim Form
  • Policy documents
  • Id proof of the nominee
  • Address Proof of the Nominee
  • Reason for the death certificate
  • Passbook or cancel cheque copy
  • Copy of FIR filled. (In case of accidental death)

How to Raise a Claim in SBI Term Insurance Plans?

To raise a Claim in SBI term insurance Plans, one has to follow three simple steps, as discussed in below:

1. Claim Intimation

The First step is to inform SBI term insurance as soon as possible, through any of the following methods

  • Through Online
  • By Mailing them
  • Through Post
  • Visiting nearby SBI Nearest branch.

2. Document Submission

The second step is to Submit all the necessary documents, as mentioned to SBI Term Insurance like Reason of death, Id proof etc.

You will be required to submit a few necessary documents while filing for a claim. Here is a list of some of these documents:

3. Claim Settlement

This is the final stage of the Claim settlement process, after reviewing all the necessary documents and Details, within 30 days SBI Term Insurance will settle the claim, and transfer the lump sum payout to the nominee accounts.

Contact Details for SBI Term Insurance Plans

Contacting SBI Term Insurance can be done in multiple ways, Given below are Processes through which any customer can contact for SBI Term Plans.

SBI Life Insurance Co. Ltd, 8th level Seawoods Grand Central, Tower 2,
Sector 40, plot No.R-1, Seawoods, Nerul,
Navi Mumbai- 400706.

1800 267 9090
(Available from 9:00 am to 9:00 pm IST)

SBI Term Insurance: FAQs

1. Which are the best term insurance plans offered by SBI Term Insurance?

SBI Term Insurance offers multiple term insurance plans,every plan has their benefits,Customers can opt for any term insurance plan after knowing their needs and requirements. Here is a list of SBI Term insurance plans offered by SBI.

  • SBI Life Arogya Shield
  • SBI Life e-shield Next
  • SBI Life Saral Jeevan Bima
  • SBI Life-Smart Shield
  • SBI Life- Grameen Bima

2. What is the entry age of SBI Term life Insurance?

The Entry age of SBI Term insurance Plans is 18 years.

3. What are documents to purchase SBI Term insurance Plans?

To Purchase LIC Term insurance plan, you would be required the following things:

  • Age Proof : Aadhar card, Pan card etc.
  • Address Proof : Aadhar card , Pan card etc.
  • Income Proof : Bank Statement, Salary slips etc.

4. What is the free look of SBI Term insurance Plans?

Sbi Term insurance offers 15 days of free look period for offline and 30 days for online to the Policyholders.

5. What is the Claim Settlement Ratio of SBI Term Insurance?

Claim settlement ratio of SBI Term Insurance is 97.05%, According to the IRDAI 2021- 2022 Report.

6. Did SBI Term insurance Provide Grace Period?

Yes, SBI Term Insurance Provides Grace Period as well, they have 30 days of grace period for Quarterly, Half yearly and Yearly Premiums paying terms and 15 days for Monthly premiums paying terms.

7. Can I change my nominee in SBI Term Insurance?

Yes, you can Change the nominee name in any of the term plans you purchase from SBI Term Insurance. You just have to fill out a Change in nomination form from the nearest Sbi branch.

8. Does SBI Term Insurance Provide Tax benefits?

Yes, SBI Term Insurance Provides under Section 80c, though which taxpayer can rebate upto 1.5 lakhs.

Other Term Insurance Companies

SBI Term Insurance Reviews

Read what our customers have to say about SBI term insurance company

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Sneha Nath


March 28, 2024

I would like to inform you that my maturity claims have been settled by SBI Life Insurance on 04.15.2024 and thanks all of you for helping me throughout the claim process.

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kartik saxena


March 18, 2024

I had to add some riders to my Sbi life insurance, team helps to me to understand which rider is more important and which is not. Resulting helps me to save lots of money. Happy with...

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Rakesh kumar


February 16, 2024

Great service! Quick claim processing for my sbi life insurance, Highly recommend for reliable insurance coverage at competitive rates.

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Priyanshu raghav


January 25, 2024

I wanted a term insurance plan that was not too expensive, and gave me just that. The website let me compare quotes from different companies, so I found a plan that fits my budget.

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Vidyut Sharma


October 4, 2023

Thanks to, I found an affordable SBI Term Insurance policy that fits my family s needs perfectly. The platform is easy to navigate, and their customer support is top-notch. Highly r...

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Vidisha Gupta


October 4, 2023 s comparison tool is a game-changer. I was able to assess multiple SBI Term Insurance plans and pick the one that suits my budget and requirements. The process was efficient, and I ...

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Veer Singh


October 4, 2023

I appreciate the transparency and honesty of They provided all the necessary information about SBI Term Insurance, including premiums and benefits. It helped me make an informed ch...

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Varsha Verma


October 4, 2023 simplified the process of getting SBI Term Insurance. Their website is user-friendly, and the policy details were explained clearly. I now have peace of mind knowing my family s fut...

View All Sbi Term Insurance Reviews

Varun Saxena

Written By: Varun Saxena

Varun is a passionate content writer with over three years of experience in the insurance domain. An avid learner, he stays ahead of the industry's trends ensuring his writing remains fresh and includes the latest insurance shifts. Through his work, Varun strives to engage with targeted insurance readers.