SBI eShield
SBI eShield Plan is a comprehensive insurance policy offered by SBI Life, providing protection to businesses of all sizes against potential risks like cybercrime and data breaches. It is an individual, unlinked, and non-participating pure-term plan that offers tailored benefits for individuals at an affordable price. The plan provides a high level of coverage at a low cost and has regular payment options.
SBI eShield is an online insurance policy that is easy to purchase. To purchase the policy, customers must log in to the SBI Life online portal and provide personal information, such as name, date of birth, contact information, address, employment information, and family size, among others. After evaluating financial goals, customers must choose the desired option, including the sum assured and policy term. A questionnaire containing information about the customer’s health and family history must also be completed.
Highlights of SBI eShield Plan Scheme 2024
| Features/Benefits | Details |
|---|---|
| Plan Type | Pure term insurance plan |
| Policy Term | 5 to 75 years |
| Minimum Entry Age | 18 years |
| Maximum Entry Age | 65 years |
| Maturity Age | 75 years |
| Sum Assured | Minimum: Rs. 35 lakhs, Maximum: No Limit |
| Premium Payment Term | Single premium or regular premium |
| Premium Payment Frequency | Annual, semi-annual, quarterly, or monthly |
| Premium Payment Modes | Online or offline |
| Premium Discounts | 2% on the premium for a high sum assured |
| Death Benefit | Lump-sum payment of sum assured on death of the life assured |
| Terminal Illness Benefit | Up to 100% of the sum assured in case of terminal illness |
| Tax Benefits | Available under Section 80C and 10(10D) of Income Tax Act, 1961 |
| Policy Surrender | Available after completion of 3 policy years |
| Loan Facility | Not available |
| Riders | Available at an additional premium for Accidental Death Benefit and Accidental Total Permanent Disability Benefit |
SBI eShield offers two coverage options
level cover with inbuilt Accelerated Terminal Illness benefit and accelerated terminal illness benefit. The level cover with the inbuilt Accelerated Terminal Illness benefit option guarantees that the amount of coverage will remain the same throughout the policy’s term, and the policy’s nominee receives the assured sum upon the policyholder’s death. On the other hand, the Accelerated Terminal Illness Benefit option provides a benefit equal to the death benefit upon diagnosis of terminal illness, and the policy will end.
The plan is available to anyone between the ages of 18 and 65, and customers can choose from one of four plans. The policyholder cannot be older than 75 years old for the Level Cover Benefit and 70 years old for the Increasing Cover Benefit at the end of the policy term.
Federal Tax Refund Schedule 2024 Calendar, Return Dates, Status
SBI eShield plan
The SBI eShield plan is a pure insurance plan with no survival benefits and a low cost for a high level of coverage. The sum assured will be paid to the nominee in the event of the life insured’s death during the policy period. This plan is a cost-effective and essential product in any financial portfolio, especially for those with dependents who rely on their income to cover their expenses.
SBI eShield is an excellent option for those looking for comprehensive protection against potential risks like cybercrime and data breaches. It is a cost-effective and essential product for any financial portfolio, providing a high level of coverage at a low cost. The plan’s ease of use, regular payment options, and tailored benefits make it an excellent choice for businesses of all sizes.
Product Specifications
| PRODUCT SPECIFICATIONS | MINIMUM | MAXIMUM |
|---|---|---|
| Entry Ege( last birthday) | 18 Years | 60/65 Years |
| Maturity Age (last birthday) | _ | 70 Years |
| Policy Term (PT) in Years | 5 Year | 30 Years |
| Premium Paying Term(PPT) in year | Equal to Policy Term | — |
| Premium Paying Frequency | Annual | — |
| Yearly Premium | 3500 | Single Pay 10000 |
| Sum Assured | 20,00,000 | No limit |
SBI life term insurance premium Details
| ANNUAL PREMIUM IN RUPEES FOR A POLICY TERM OF 20 YEARS AND SA OF 50 LACS | ||||
|---|---|---|---|---|
| Age | Male Lives | Female Lives | ||
| Smokers | Non-Smokers | Smokers | Non-Smokers | |
| 30 | 7770 | 4660 | 6275 | 3920 |
| 40 | 17145 | 9495 | 12260 | 6955 |
| 50 | 41615 | 22305 | 29020 | 15680 |
Benefits of SBI eShield Plan Yojana 2024
SBI eShield Plan 2024 provides a range of benefits to the policyholders. Some of the key benefits are:
- Comprehensive Protection: The plan offers comprehensive protection against death, terminal illness, and critical illnesses. It ensures that your family’s financial future remains secure even in case of unforeseen circumstances.
- Customizable Plan: You can choose the sum assured, policy term, and premium payment term as per your financial goals and requirements.
- Multiple Payout Options: The plan offers multiple payout options, including lump-sum, monthly income, and increasing income, to suit your family’s financial needs.
- Tax Benefits: You can avail of tax benefits on the premiums paid and the benefits received under the plan, as per the prevailing tax laws.
- Affordable Premiums: The plan offers affordable premiums, making it accessible to a wide range of people.
- Flexible Riders: You can enhance your protection by adding riders such as accidental death benefit, accidental total and permanent disability benefit, and critical illness benefit to the base plan.
Overall, SBI eShield Plan 2024 provides a comprehensive and flexible protection plan that can be customized as per your needs and goals.
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How to Apply Online for SBI eShield Plan 2024?
You can apply for the SBI eShield plan online by visiting the SBI Life Insurance website or through their mobile app. Here are the steps to follow:
- Visit the SBI Life Insurance website or download the mobile app.
- Click on the ‘Buy Now’ or ‘Get Quote’ option for SBI eShield plan.
- Fill in the necessary personal and insurance-related details.
- Choose the coverage amount and policy term as per your requirement.
- Make the payment online through various payment options available.
- Submit the required documents, such as age proof, identity proof, and address proof.
- Once your application is approved, you will receive the policy document via email.
Alternatively, you can also visit any SBI Life Insurance branch or get in touch with a financial advisor to apply for the plan.
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