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SBI Life eShield Plan
SBI Term Insurance
SBI Life eShield Plan
SBI Life e-Shield is a pure protection plan that offers you 2 plan opt ...Read More
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About SBI Life eShield Plan
A quick read on what this SBI Term Insurance term plan covers and why it might be a fit for you.
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
Eligibility Criteria for SBI Life eShield Plan
Entry age
Minimum Age - 18 years Maximum Age - 65 years
Maturity age
Maximum Maturity Age - 80 years
Policy term
Minimum term - 5 years Maximum term - 85-less than entry age years
Sum assured
Basic Sum Assured: ₹50L to No LImit
Policy loan
The policy loan is not available under SBI Life eShield Plan.
Payment Modes
Yearly, Half-yearly,& Monthly
Pros & cons
A quick honest summary — the strengths and the trade-offs.
Pros
- Terminal Illness Benefit
- Discounts for Non-Smoker
- Level Cover
Cons
- No Policy Loan
- No Surrender Value
- No Maturity Benefit
Video reviews
Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.
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Who can buy this plan
Eligibility criteria pulled straight from the policy wording.
Entry Age -18 Years
Max Entry Age- 65 Years
Minimum Sum Assured - ₹35L
Maximum Maturity Age - 80 Yrs
Premium Payment Term - RP
How Does SBI Life - eShield Work?
Let's understand how the SBI Life - eShield with a simple premium illustration.
Problem
Mr. Sharma wants a pure protection term insurance plan that offers high life cover at affordable premiums. He also wants lower premiums as he is a non-smoker.
Solution
His financial advisor suggested the SBI Life Insurance SBI Life eShield Plan. The plan offers financial protection for his family along with lower premium rates for non-smokers.
Let us see a brief illustration of theClick 2 Protect Supreme plan.
| Age | Policy Term | Premium payment Term | Sum Assured | Premium (Annual) |
| 30 years | 30 years | Regular pay | ₹50 lakh | ₹6,425 |
Key Takeaways: If the policyholder passes away during the policy term, the nominee receives the Sum Assured of ₹50 lakh, provided the policy is active.
Benefits of SBI Life eShield Plan
Here are the key benefits of the SBI Life eShield Plan.
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 of SBI Life eShield Plan
Here is the list of exclusions associated with the plan:
- Death due to a pandemic is not covered by the company.
- Death caused due to any type of adventure sports.
- Death by consumption of any type of drugs or alcohol.
- Death due to any pre-existing disease that isn't mentioned at the start of the policy.
- If a policyholder commits suicide within the first 12 months of purchasing the policy, then no death benefits are paid to their nominee.
Conclusion
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.
Conclusion
SBI Life eShield Term Insurance Plan is a new-age best term insurance plan that offers a choice of t
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SBI Life eShield: FAQs
The 16 most-asked questions about SBI Life eShield Plan, answered.
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.
Written and reviewed by
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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