We can never know what the future holds for us. And when you've the responsibili ...Read More
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. ...Read Less
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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.
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. 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:

Minimum Age - 18 years Maximum Age - 65 years
Maximum Maturity Age - 80 years
Minimum term - 5 years Maximum term - 80 years
Basic Sum Assured: ₹35L to No LImit
The policy loan is not available under SBI Life eShield Plan.
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SBI eShield term insurance plan
Here is the list of exclusions associated with the plan:
SBI Life eShield Term Insurance Plan is a new-age best term insurance plan that offers a choice of two plan options: Level and Increasing Cover. The plan also provides several in-built benefits, such as accelerated terminal illness benefits, riders, flexible premium payment terms, tax benefits, etc. If you want to know more about SBI eShield policy details or compare different plans, you can easily contact us through the website policyx.com or call us at 1800-4200-269. You can also check the SBI Life eShield term insurance review online.
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The medical second opinion can be made under the following conditions- The life assured has shown signs of acute or life-threatening disease. Diagnosis is not received by the assured Health status is not evaluated by the attending physician within the last 12 months of duration. If the life assured is in need of physical evaluation.
Yes, the coverage is provided to the family of the life assured, if he/she meets suicidal death within the first year of the policy. The process will be- 80% of the base premium(excluding rider premium) deposited until the date of suicidal death will be refunded to the family. If the policy is revived, then the premiums submitted on revival of policy till the death would be returned. Only, 80% of base premium (eliminating premiums paid for riders) will be paid.
Yes, eShield does come with the option to cancel the policy within a stipulated amount of time known as Free Look Period of 30 days. The policyholder has to review all the terms and conditions within 30 days and convey his decision to the insurance provider by demonstrating the genuine reason for cancellation.
SBI Life will refund the premiums paid at the inception of the policy along with deduction of stamp duty and medical expenses fee occurred during the period.
The terminal Illness death benefit will only be accepted and verified by SBI Life if the death will arrive within 180 days after the examination of terminal illness. Also, the policy should remain active during the submission of claim information. Additionally, documentary proofs like medical reports should be laid down for smooth claim settlement.
Policy Document provided at the time of purchase Death Certificate of the life assured issued by the local body of Municipal Corporation. Claim Forms duly filled by the claimant in a given format. Evidence of death such as hospital records, medical reports, discharge summary, post mortem report. Additional documents as per the request made by SBI Life for further verification.
The nominee or the beneficiaries can inform the insurance company through writing about the cause of death along with the declaration of policy number and date of death.
The claim must get registered within 90 days time period after the death has happened with SBI Life insurance company.
The death benefit paid on an event of death must be more than of- 10 times of the annualized premiums. 105% of the entire premium amount paid till the death of the life assured. Whole of the sum assured amount guaranteed on death should be equal to "Effective Sum Assured" as on death.
The minimum sum assured available under the SBI Life eShield plan is Rs. 20,00,000. The maximum sum assured has no limit
The SBI Life eShield plan can be purchased by individuals who meet the following criteria: minimum entry age of 18 years, with a maximum age of 65 years
Yes, it is often possible to increase the sum assured (the amount of coverage) of a term insurance policy during the policy term, but it depends on the specific policy.
Yes, you can surrender a life insurance policy before its maturity date. This means you can choose to terminate the policy early and receive a surrender value.
Generally, term insurance claim settlement takes between 30 to 45 days after the insurer receives all the necessary documents.
SBI Life eShield is a non-participating, non-linked term plan offered by SBI Life Insurance. You can easily purchase this plan online, which offers several coverage options such as increasing coverage, life coverage, and optional riders for added protection. It does not provide maturity benefits but aims to offer a sum assured for long-term safety.
SBI Life eShield offers two main plan options such as the level cover option or the increased cover. Under the level cover option, the sum assured amount is the same throughout the policy term. On the other hand, under the increased coverage option, the sum assured amount increases at a fixed percentage.
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February 5, 2023
Asia/Kolkata
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