SBI Life Insurance Shield Term Insurance Plan

 

SBI Life Insurance Shield Term Insurance Plan

 

Introduction:

Your family is of utmost importance to you. You want your family to have all the good things in life and you would do everything you could to fulfill them. Life is full of uncertainties and risk. To ensure that these uncertainties do not shatter the dreams you have for your family.

SBI Life offers you SBI Life – Shield Plan.

 

Key Features:

 

’It offers you life insurance cover at the lowest cost for a selected term.

 

It is available in 3 options to suit your requirement.

 

Level Premium throughout the chosen term with increasing Sum Assured, depending on the option chosen.

 

Tax benefit u/s 80 C and 10 (10 D) of IT Act

 

Attractive rebate for Female lives.

 

Attractive Rebates are offered for Annual / Semi- Annual mode of Premium payment and High Sum Assured.

 

Attractive rider options.

 

Convenient premium payment options: Single and Multiple premium payment.

 

15 days Free Look Period from the date on which you receive the policy documents.

 

Product type:

SBI Life – Shield is a traditional pure risk policy (with no maturity benefits) that offers you a substantial life cover at a very low cost.

 

How does it work?

’SBI Life – Shield’ – an innovative insurance plan from SBI Life answers all your requirements. Under this product, you can opt for gradual increase of cover @ 5% every year or for substantial increase of cover @ 50% for every five years. Under both the options, you pay the same amount of premium throughout the entire term of the policy. If you opt for an increasing cover now you wouldn’t require a fresh policy later. This will avoid the hassles of taking another insurance policy, paying more premiums and meeting the medical requirements of the insurer. We recommend that you should choose either of the following options.

§  Sum Assured Increases by 5% Per Annum

§  Sum Assured Increases by 50% Every 5 Years

§  Level Cover

 

Benefits

 

Death Benefit: Depending on the cover chosen, the nominee will receive the sum assured under this policy

 

Maturity Benefit :No survival benefit available at the end of the term.

 

Other Optional Benefits:

   

SBI Life – Accidental Death and Accidental Total Permanent Disability Rider:

§  In case of death due to an accident, the nominee gets the Sum Assured under this rider.

§  If the policyholder is involved in an accident, resulting in Total Permanent Disability, he/she will get Sum Assured under this rider in 10 equal annual installments; He/she will exit from all the rider covers thereafter, but continue to be covered for basic cover on receipt of further premium due, if any.

   

Premium Waiver Benefit Rider:

§  Under this rider the policy holder need not pay future premiums for the base product, if he/she suffers from Total and Permanent Disability due to an accident after the rider is opted for.

 

What is the policy term?

Minimum Years

Maximum Years

5 years

25 years

 

Who can buy this product? 

Anyone between 18 to 60 years of age is eligible for cover under this plan..

Maximum cover age is 65 years.

 

What is the sum assured?

Range of Sum Assured

Sum Assured Increases by 5% Per Annum

Sum Assured Increases by 50% Every 5 Years

Level Cover

Minimum Sum Assured

Rs. 3 lakhs

Rs. 3 lakhs

Rs. 3 lakhs

Maximum Sum Assured

No Limit

No Limit

No Limit

 

Riders available

§  SBI Life – Accidental Death and Total Permanent Disability Rider

§  SBI Life – Premium Waiver Benefit Rider

Note: For more details, please contact the Insurance Company

Post Your Comments


Enter the above code

 
Comments
Latest Updates
  • Indian expatriates in the Gulf and those intending to go there on work should expand their initials in their ...
  • Taxman turns lens on domestic assets of high net-worth individuals The Income-Tax Department is zeroing in on ...
  • Levy Cheque return charges only if customer is at fault - RBI Circular
Recent Posts
Small Savings Scheme PPF,SCSC, Sukanya Samridhi NSC etc. Revised Interest Rates
Customs Baggage Rule
Budget 2016 Highlights (Direct Tax)
CHANGES IN CUSTOMS BAGGGE DECLARATION REGULATIONS
Economic Survey 2015-16
Interest Rates of Small Saving Schemes to be revised on a Quarterly Basis w. e. f 01/ 04 /2016
Government of India extended the last date for applying for conversion of PIO cards to OCI cards to June 30th 2016 from March 31.
Highlights of the Railway Budget 2015-16
Featured Video
  • Keralarealestatesite
  • NRI Guide 2013
  • NRI Guide 2013
  • Financial planning
  • Financialplanng
  • logo