SBI Life Insurance – Eshield Next
SBI Life Insurance e-Shield Next is a new age online subscription plan. Lifetime warranty of up to 100 years and various benefits are available. There are three variations of this term plan. Level Cover, Incremental Cover, and Level Cover with Future Proofreading Benefits.
Main features:
- Option to choose from 3 plan options:
1. Advantages of Level Cover: In this plan, the absolute amount guaranteed is fixed or constant throughout the policy period.
2. Increased cover perks: Here, the Absolute Guarantee is increased by 10% of the Basic Guarantee at the end of every 5 policy years. This amount increase is subject to up to 100% of the base guarantee amount. This increase in coverage is limited until he is 71 years old.
3. Benefits of Level Cover and Future Guarantee: This plan gives you options for guaranteed life to increase your absolute coverage once you reach a certain life stage during the policy period. In cases such as marriage, whole life insurance has the option to increase the coverage to 50% of the basic coverage up to a maximum of INR 50 lakh. Similarly, the basic guarantee amount will be increased by 25% when the first and second children are born. - Option to choose from two benefits, such as death benefit payment mode and better half price option. The death benefit can be paid in one lump sum, monthly installments, or a combination of both. Better Half benefits, on the other hand, provide financial protection when a spouse has no guaranteed life. Plan Cover is a level of cover that is paid in one lump sum regardless of the plan option chosen by the insured.
- This plan includes a terminal illness benefit. Guaranteed Life If he is diagnosed with any terminal illness before he reaches the age of 80, a benefit equal to the amount guaranteed upon death up to the date of diagnosis will be paid subject to a maximum of Rs 200 crore.
- The option to pay the premium either once, for a limited period of time, or for the entire policy period (limited, periodic, or one-time payment options).
- We offer life insurance up to 100 years for whole life insurance and up to 85 years for non-whole life insurance.
- Optional add-on benefits:
1. Accidental death rider.
2. Accidental General and Permanent Disability Coverage. - advantage:
1. Death benefit: For general and limited insurance, the benefit is the higher of: - 10 times the annualized premium, or
- an absolute amount that is certain to be paid at death, or
- 105% of total premiums received until death.
2. In addition, for single premium insurance policies, one of the following will be more beneficial: - 1.25 times the lump-sum payment, or
- An absolute amount that is guaranteed to be paid at death.
Who can purchase SBI Life – eShield Next Policy?
Minimum entry age:
- Lifetime: 45 years
- Other than whole life insurance: 18 years
Age allowed:
- Single payment: 65 years
- For term premiums: 60 years
- For Better Half Benefits: 55 Years
Maximum maturity age:
- In the case of single premium/term premium: 85 years
- Lifetime: 100 years
SBI Life Insurance – Salal Jeevan Bima
SBI Life – Saral Jeevan Bima is one of our standard, low-cost recurring plans. Other than a death benefit, the insurance does not provide survival, maturity or endorsement benefits.
Main features:
- You can choose to pay a one-time premium, recurring premiums, or for a limited period (5 or 10 years).
- The basic guarantee of the plan ranges from a minimum of INR 50,000 to INR 250,000.
- advantage:
1. Death benefit: In the event that the insured person dies during the period of insurance, the death benefit of the insured person is received in a lump sum. For regular and restricted premium payment policies, the benefit is the higher of: - 10 times the annualized premium
- 105% of the premium paid on the date of death
- An absolute amount that is guaranteed to be paid at death
For the Single Premium Policy, whichever is higher:
- 125% of single premium
- An absolute amount that is guaranteed to be paid at death
In addition, the single premium policy outweighs the following benefits:
- 1.25 times the lump-sum payment, or
- An absolute amount that is guaranteed to be paid at death.
Who is eligible to purchase SBI Life – Salal Jeevan Bima
- Minimum entry age: 18 years old
- Admission age: 65 years old
- Insurance period: 5 to 40 years
SBI Life Poorna Suraksha
SBI Life Poorna Suraksha is a standard term plan that comes with an in-building serious illness rider, so it offers comprehensive coverage along with health insurance.
Main features:
- The guaranteed amount ranges from a minimum of INR 20 lakh to a maximum of INR 25 crore.
- A combination of life and critical illness coverage. It should be noted that under life stage rebalancing benefits, critical illness cover increases with an equal decrease in life cover under life stage rebalancing benefits.
- Under the Critical Illness Rider, this policy covers 36 listed ailments such as cancer, heart attack, among others.
- If you are diagnosed with a serious illness, all future premiums will be waived for the remainder of the policy term.
- A fixed premium is charged during the period of insurance.
- advantage:
1. Death Benefit: This benefit is provided to the nominee receiving the death benefit upon death of the guaranteed life during the term of the policy as a lump sum of the higher of: - 10 times the annualized premium
- 105% of the premium paid on the date of death
- An absolute amount that is guaranteed to be paid at death
2. Serious Illness Benefit: This benefit will be paid only once and will not be paid a second time. The Critical Insurance Amount is the amount guaranteed to be paid to the insured if he is diagnosed with one of the 34 listed serious diseases. The initial waiting period for this benefit is 90 days for him, and nothing will be paid if the diagnosis is made within 90 days of the policy start date.
Who can purchase SBI Life Poorna Suraksha?
- Minimum and maximum entry age: 18 and 65 years.
- Minimum and maximum maturity age: 28 and 75 years.
- The insurance period is 10 years, 15 years, 20 years, 25 years and 30 years.
SBI Life – Smart Shield
SBI Life-Smart Shield is a pure kind of term plan, intended to offer comprehensive lifetime coverage along with increased coverage options. A longer warranty period will certainly increase your coverage as you grow older and as your liability increases. This plan also comes with two convenient riders.
Main features:
- We offer two options: Fixed Duration Warranty and Incremental Duration Warranty.
- Add cover:
1. Accidental death rider
2. Comprehensive Injury and Permanent Disability Benefit Rider. - Take advantage of attractive discounts with huge guaranteed amounts.
- Lower premiums for non-smokers.
- There is no maturity benefit for this insurance.
- The basic guarantee amount for this plan is INR 25 lakh.
- Premium can be paid all at once or choose regular payment mode.
- advantage:
1. Death Benefit: This benefit is given to the nominee receiving the death benefit upon death of the guaranteed life during the policy period, depending on the plan option chosen. - A Level Term Guarantee is equalized by the selected guarantee amount as of the date of death.
- With an increased term guarantee, the amount guaranteed at the date of death will be increased at an annual rate of 5%.
Who can purchase SBI Life-Smart Shield?
- Minimum and maximum entry age: 18 and 60 years.
- Maturity age: 80 years old.
- Insurance period: 5 to 80 years.
SBI Seimei Arogya Shield
The SBI Life-Arogya Shield is a standard term plan that accompanies health insurance. The total coverage of welfare protection is up to INR 25 lakh.
Main features:
- Double coverage of health insurance and life insurance.
- Health insurance covers daycare procedures and pre- and post-hospital costs.
- advantage:
1. Death Benefit: This benefit is given as a lump sum to the nominee receiving the death benefit when the guaranteed life dies during the policy period. - 10 times the annualized premium
- 105% of the total premium paid.
- An absolute amount that is guaranteed to be paid at death.
Who can purchase Arogya Shield?
- Minimum and maximum entry age: 18 and 65 years.
- Minimum and maximum insurance period: 5 and 40 years
SBI Life Insurance – Grameen Vima
SBI Life – Grameen Bima is a standard subscription and pure risk premium product. This plan comes with whole life insurance with a single premium. There is no pre-medical examination required to purchase this plan.
Main features:
- Guarantee amounts range from INR 10,000 up to INR 50,000.
- The insurance period is 5 years.
- This plan provides a death benefit in which the nominee receives a guaranteed lump sum upon death. The guaranteed amount at death is higher than 1.25 times his basic guaranteed amount or single premium.
- Surrender benefits are paid only after the first year of coverage ends. The amount to be paid is as follows:
Paid one-time premium (excluding tax) * less than 50% * contract period / total contract period - There are no maturity benefits under this policy.
Who can purchase SBI Life-Grameen Bima?
- Minimum and maximum age: 18 and 50 years.
- Minimum and maximum insurance period: 5 and 40 years
SBI Life Insurance – Sunporn Cancer Suraksha
SBI Life-Sampoorn Cancer Suraksha is specifically designed to provide protection against life-threatening diseases such as cancer. We offer the option to provide up to 40% of the insured amount as a monthly payment and the rest as a lump sum of the guaranteed amount upon diagnosis of cancer.
Main features:
- Tiered lump sum benefits and monthly income benefits, depending on the benefit structure you choose.
- Option to choose from three benefit structures designed based on cancer severity.
- No prior health check is required.
- Option to extend total warranty coverage.
- Built-in premium waiver option.
- Premiums are fixed for the first five years.
- Option to get a second medical opinion from a network doctor or a practitioner.
SBI Life Insurance – Corona Rakshak Policy
SBI Life-Corona Rakshak Policy is designed to provide protection against Covid-19. This plan provides a lump sum payment of 100% of the insured amount only if you are diagnosed with Covid-19 and hospitalized for a minimum of 72 hours. However, this benefit is only available to him once during the entire policy period.
Main features:
- The policy is issued without the hassle of medical examination.
- The insurance period is 3.5 months, 6.5 months and 9.5 months.
- The minimum premium is INR 156.50 and the maximum is INR 2,230.
