SBI Life e-Shield - Level Cover
Objective
This is an online pure term insurance cover that aims to provide financial security to your loved ones after you.
Our View
Online policies pass on the low cost benefit to applicants in the form of low premiums. Accidental benefit offered by this policy can be bought as an added cover but it cannot replace a standalone Accidental policy because standalone policy provides disability benefits as well. You may take this policy without Accidental Death Benefit option and buy a separate Accidental policy.
Suited for
A pure term policy is a definite buy for all. This policy is suitable for every applicant who is comfortable with buying insurance online.
What does it do?
This is a level cover policy in which the nominee will receive death benefit equal to sum assured on unfortunate death of the insured.
Applicant has an option to take an additional Accidental Death Benefit where the insurer will pay an extra sum over and above the basic sum assured, if death takes place due to an accident within 120 days of its occurrence. Accidental Death benefit will be equal to the basic sum assured upto maximum of Rs 50 lakh. The policy does not offer any surrender or maturity value if the insured survives the term.
Pros
This policy can be bought online.
Women and non-smokers can avail discount on premium.
It offers additional Accidental Death Benefit.
Eligibility
Entry Age (years)
Minimum
18
Maximum
65
Maximum Maturity Age (years)
70
Policy Variants
Level cover
Level cover with Accidental Death Benefit
Policy Term (years)
Minimum
5
Maximum
30
Sum Assured (Rs)
Minimum
20,00,000
Maximum
No Limit
Minimum Premium (Rs)
Yearly
3500
Premium Payment Frequency
Yearly
Premium Payment Term
Same as Policy term
Policy Cover
Cover remains fixed for the tenure of the policy
Other Features
Free Look Cancellation
In case, you are not satisfied, you may choose to cancel the policy within 30 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered.
Grace Period
A grace period of 30 days after premium due date is allowed.
Lapsed Policy Reinstatement
A lapsed policy may be revived within 2 years from the date of the first unpaid premium subject to satisfactory proof of insurability as required by the company.
Tax Benefits
Section 80C, 10 (10D) of the Income Tax Act, 1961 would apply.
Exclusions
If the life assured commits suicide within one year from the risk commencement date, whether sane or insane at that time,
the nominee will be entitled to 80% of the premiums paid, the policy will be void and no claim will be payable. If the life assured commits suicide within one year from the reinstatement date if reinstated, whether sane or insane at that time, the policy will be void and no claim will be payable
Customer Service
Address
Sbi Life Insurance Co. Ltd. Registered & Corporate Office: Natraj, M.V. Road & Western Express Highway Junction,
Andheri (East), Mumbai – 400 069
Mail To
[email protected]
Call On
1800 22 9090
Cost Details
| Annual Premium Option for Men | |||||||||
| Policy Term (in years) | Age (in years) | ||||||||
| 20 | 25 | 30 | 35 | 40 | 45 | 50 | 55 | 60 | |
| 10 | NA | NA | 3760 | 5080 | 6937 | 10296 | 15588 | 23548 | 36881 |
| 15 | NA | NA | 4100 | 5720 | 8240 | 12352 | 18821 | 29105 | NA |
| 20 | NA | 3773 | 4697 | 6773 | 9905 | 14940 | 23085 | NA | NA |
| 25 | 3553 | 4228 | 5545 | 8069 | 11932 | 18228 | NA | NA | NA |
| 30 | 3904 | 4876 | 6573 | 9640 | 14461 | NA | NA | NA | NA |
| Indicative premiums for healthy non-smoking individual for Rs 40 lakh sum assured. Premiums are exclusive of service tax and cess. | |||||||||
| Annual Premium Option for Men for Level Cover with Accidental Death Benefit | |||||||||
| Policy Term (in years) | Age (in years) | ||||||||
| 20 | 25 | 30 | 35 | 40 | 45 | 50 | 55 | 60 | |
| 10 | 4812 | 4948 | 3760 | 6600 | 8457 | 11816 | 17108 | 25068 | 38401 |
| 15 | 4756 | 5016 | 5620 | 7240 | 9760 | 13872 | 20341 | 30625 | NA |
| 20 | 4884 | 5293 | 6217 | 8292 | 11425 | 16460 | 24605 | NA | NA |
| 25 | 5072 | 5748 | 7065 | 9589 | 13452 | 19748 | NA | NA | NA |
| 30 | 5424 | 6396 | 8093 | 11160 | 15981 | NA | NA | NA | NA |
| Indicative premiums for healthy non-smoking individual for Rs 40 lakh sum assured. Premiums are exclusive of service tax and cess. | |||||||||
| Annual Premium Option for Women | |||||||||
| Policy Term (in years) | Age (in years) | ||||||||
| 20 | 25 | 30 | 35 | 40 | 45 | 50 | 55 | 60 | |
| 10 | NA | NA | NA | 4257 | 5368 | 7456 | 11209 | 16897 | 25660 |
| 15 | NA | NA | 3580 | 4552 | 6116 | 8920 | 13417 | 20513 | NA |
| 20 | NA | NA | 3909 | 5184 | 7288 | 10716 | 16281 | NA | NA |
| 25 | NA | 3656 | 4429 | 6096 | 8701 | 12952 | NA | NA | NA |
| 30 | NA | 4060 | 5149 | 7189 | 10433 | NA | NA | NA | NA |
| Indicative premiums for healthy non-smoking individual for Rs 40 lakh sum assured. Premiums are exclusive of service tax and cess. | |||||||||
| Annual Premium Option for Women for Level Cover with Accidental Death Benefit | |||||||||
| Policy Term (in years) | Age (in years) | ||||||||
| 20 | 25 | 30 | 35 | 40 | 45 | 50 | 55 | 60 | |
| 10 | 4680 | 4841 | 4988 | 5776 | 6888 | 8976 | 12729 | 18417 | 27180 |
| 15 | 4632 | 4801 | 5100 | 6072 | 7636 | 10440 | 14937 | 22033 | NA |
| 20 | 4656 | 4923 | 5428 | 6704 | 8808 | 12236 | 17801 | NA | NA |
| 25 | 4772 | 5176 | 5949 | 7616 | 10221 | 14472 | NA | NA | NA |
| 30 | 4977 | 5580 | 6669 | 8709 | 11953 | NA | NA | NA | NA |
| Indicative premiums for healthy non-smoking individual for Rs 40 lakh sum assured. Premiums are exclusive of service tax and cess. | |||||||||
New Process Alert 
Seems like you've uploaded a wrong QR code. Please upload the QR code downloaded from MF Central platform.
