SBI Smart Shield Plus

Overview

The SBI Life Smart Shield Plus Plan is one of the best term insurance plans that offers financial protection to your loved ones during the policy term. This plan allows policyholders to choose from three plan options: Level Cover Benefit, Increasing Cover Benefit, and Level Cover with Future Proofing Benefit. You can choose coverage up to 100 years, as per your requirement.

Key Features of SBI Life Smart Shield Plus Plan

• Choice of Plan Options

  The SBI Life Smart Shield Plus Plan offers policyholders a choice of three plan options: Level Cover Benefit, Increasing Cover Benefit, and Level Cover with Future Proofing Benefit.

• Lower Rates for Female Lives

  This plan offers special premium rates for female policyholders.

• Tax Benefits

  Policyholders can avail tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961. The maximum benefit available is Rs 1.5 lakh.

• Optional Better Half Benefit

  This option ensures sufficient coverage for your spouse in your absence. It is designed to support the surviving spouse who will bear the sole responsibility of the family.

• Guaranteed Death Benefits

  In case of the insured's unfortunate death during the policy tenure, death benefits are paid to the family. The death benefit is the higher of 1.25 times the single premium or 105% of annual premiums paid.

• Whole Life Coverage

  This plan offers whole life coverage up to 100 years, securing your loved ones.

• Flexible Premium Payments

  Policyholders have the flexibility to pay premiums throughout the policy term (Regular Pay), for a limited period (Limited Pay), or as a one-time payment (Single Pay).

• Rider Benefits

  This plan offers enhanced protection with an optional rider (SBI Life – Accident Benefit Rider).

• Special Exit Value

  This plan offers a Special Exit Value option, allowing you to receive all premiums paid by choosing the limited pay option.

• Inbuilt Terminal Illness Cover

• Cover Continuance Benefit

Riders You Can Avail With SBI Life Smart Shield Plus Plan

You can choose the following riders with your SBI Life Smart Shield Plus Plan to enhance your plan coverage:

SBI Life Accident Benefit Rider

This rider offers additional benefits in case of the policyholder's unfortunate death during the policy tenure.

Exclusions

• If the life assured dies by suicide within 12 months of policy inception or revival, the death benefit is not paid. The claimant receives the higher of 0% of premiums paid or the unexpired risk premium, provided the policy is in force.
• The Better Half benefit is not payable if the life assured and spouse die simultaneously; or if the spouse's death is caused by the same event as the life assured; or if the spouse attains 60 years of age; or dies within 12 months of the life assured's death.

Plan Options Available With SBI Life Smart Shield Plus Plan