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Overview
SBI Life eShield is a pure term insurance plan offering level or increasing life cover up to age 80, with sum assured starting from ₹35 Lakhs. It includes an in-built terminal illness benefit (full sum assured paid immediately on diagnosis), non-smoker premium discounts, and tax benefits under the Income Tax Act. The plan has a 98.56% claim settlement ratio and does not offer maturity or survival benefits; it's designed purely for financial protection, not savings.
This article explores SBI Life eShield plan benefits, features, exclusions, and riders.
Benefits of SBI Life eShield Plan
- Choice of Life Cover
- Increasing or Level Cover
- Tax Benefits as per Applicable Laws
- Discounts for Non-Smokers
- In-built Terminal Illness Cover
- Choice of Premium Payment Terms
Premium Samples of This Plan
| Age | Male (Annual) | Male (Monthly) | Female (Annual) | Female (Monthly) |
|---|---|---|---|---|
| 25 years | ~₹9,500 | ~₹790 | ~₹8,200 | ~₹685 |
| 30 years | ~₹10,000 | ~₹835 | ~₹8,700 | ~₹725 |
| 35 years | ~₹13,500 | ~₹1,125 | ~₹11,800 | ~₹985 |
| 40 years | ~₹19,000 | ~₹1,585 | ~₹16,500 | ~₹1,375 |
Key Features
- Pure Protection: This plan focuses completely on life cover and does not offer any maturity benefit.
- Financial Protection: Your nominee receives the effective sum assured in case of your unfortunate demise during the policy term, provided all due premiums are paid and the policy remains active.
- Long-Term Financial Security: It helps your family manage future expenses and financial responsibilities in your absence.
Exclusions
- Death due to a pandemic is not covered.
- Death caused by adventure sports.
- Death due to consumption of drugs or alcohol.
- Death due to any pre-existing disease not declared at policy inception.
- If a policyholder commits suicide within the first 12 months of purchasing the policy, no death benefits are paid to the nominee.
