SBI Life e-Shield Policy Get Rs. 1 Crore Life Cover at Rs.18/day
SBI Life e-Shield policy is a premium life insurance plan of SBI Life. SBI Life is subsidiary of State Bank of India which deals in insurance sectors such life, health and general. SBI Life e-Shield is a basic term insurance plan. Variant and much profitable insurance plan than any other insurance company, SBI Life’s e-Shield policy is a non linked, non participating and individual term plan that is especially tailored and designed for those who desire for best financial future and that too at low premium. SBI Life e-Shield offers you a maturity amount of Rs. 1 crore at a very cheap and affordable premium of Rs. 18 per day.
Key Features of SBI Life e-Shield
- You get complete security for your family at low cost
- It is easy and seamless online process of life cover
- It offers you reward for maintaining your healthy lifestyle
- You get a variety of options to choose from various plans
- You can choose for Accidental Death Benefits
- You also get tax benefits under sec 80C and 10 (10D)
Eligibility Criteria
Plan Options – Level Cover, Level Cover with Accidental Benefit, Increasing Cover, Increasing Cover with Accidental Benefit
Age Limit – Min. 18 years and Max. 65 years
Sum Assured – Min. Rs. 20,00,000 and Max. there is no limit
Policy Term – Min. is 5 years and Max. is 30 years
Premium Payment Mode – Yearly (No other mode is available)
Premium Amount – Min. Rs. 3500 and Max. is no limit
SBI Life e-Shield Plan Options
Level Cover & Level Cover with Accidental Benefit – Under level cover you get fixed sum assured at the maturity or death of insured while with Accidental benefit you get additional benefit of in case of death of insured person in accident.
Increasing Cover & Increasing Cover with Accidental Benefit – Under this plan the 10% of your sum assured is added to your sum assured at every 5th years of your term. While with Accidental benefit you get additional benefit of in case of death of insured person in accident. SBI Life e-Shield policy
Accidental Death Benefit Calculation – Accidental Death Benefit is equal to your sum assured or Rs. 50,00,000 whichever is low.
SBI Life e-Shield Policy Example
Suppose Mr. Sharma whose age is 34 years has opted for a the plan with sum assured of Rs. 50,00,000 for the term period of 20 years then following will be his premium and maturity benefit under various plan options,
Level Cover – Mr. Sharma needs to pay the premium of Rs. 6748 yearly and at maturity he will get Rs. 50,00,000
Level Cover with Accidental Death Benefit – Mr. needs to pay the premium of Rs. 8883 yearly and at the time of maturity he will receive Rs. 50,00,000 but if during term period if he died in accident then his nominee with receive additional Rs. 50,00,000 which will make total of Rs. 1,00,00,000
Increasing Cover – Mr. Sharma needs to pay the premium of Rs. 7663 and 10% of his sum assured that is Rs. 50,000 is added to his sum assured every 5th year (Rs. 50,000 x 4) i.e. Rs. 2,00,000 which will make total sum assured at maturity Rs. 52,00,000
Increasing Cover with Accidental Death Benefit – Mr. Sharma needs to pay the premium of Rs. 9798 and 10% of his sum assured that is Rs. 50,000 is added to his sum assured every 5th year (Rs. 50,000 x 4) i.e. Rs. 2,00,000 which will make his sum assured at maturity Rs. 52,00,000 but if during term period if he died in accident then his nominee with receive additional Rs. 50,00,000 which will make total of Rs. 1,02,00,000.
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