What Is SBI Life E-Shield Term Plan?

SBI Life eShield Term Plan

E-Shield Term Plan is offered by SBI Life. In this term plan, you are provided with a cover of up to 100 years. Through this you can ensure the financial needs of your family for the future.

You get this term plan from minimum 5 years to maximum 30 years in the plan period. In this, you get the minimum sum assured of Rs. 20 lakh while there is no limit on the maximum sum assured. This term plan comes with a free look period. If you are not satisfied with this term plan then you can exit the policy within 15 days.

In this you also get the option of adding a rider. Through this you can increase your term coverage.

Features Of SBI Life E-Shield Term Plan

Features of SBI Life e-Shield Term Plan are as follows-

1. This term plan comes with three options Level Cover, Increasing Cover and Level Cover. You can choose any or all of these 3 options as per your security requirement.
2. You can customize this time plan according to your requirement. For this you are provided with the following options-

• Death Benefit Payment Mode
• Better Half Benefit Option

3. This term insurance plan provides you cover up to 100 years (Whole life) or up to 85 years (other than Whole Life) .
4. In this term plan you get the benefit of terminal illness benefit under all plan options .
5. You can opt for premium payment. You can choose to pay your premiums in one go or on a monthly, half-yearly or yearly basis.
6. In this you also get the option of adding two riders through which you can increase your coverage. These two riders are as follows-

• SBI Life – Accidental Death Benefit Rider
• SBI Life – Accidental Total and Permanent Disability Benefit Rider

7. You can get this plan for a minimum period of 5 years to a maximum of 30 years . You can choose this duration as per your convenience.
8. This term plan offers a minimum sum assured cover of Rs.20 lakhs . There is no limit on the maximum sum insured.
9. You also get a free-look period of 15 days in this term plan . If you are not satisfied with this term plan, you can choose to exit the policy.

Benefits Of SBI Life E-Shield Term Plan

Following are the benefits of SBI Life e-Shield Term Plan :

1. Death Benefits:

If the policyholder dies during the policy term, then the death benefit is provided to the person nominated by the policyholder under this term insurance plan. In this term insurance plan, you get a minimum sum assured of Rs 20 lakh and there is no limit on the maximum sum assured.

2. Terminal Illness Benefit:

Under this term plan, the benefit of terminal illness benefit is provided to the policyholder. If the policy holder is suffering from any terminal illness, then he is provided with the benefit of terminal illness benefit during the policy term.

3. Rider Option:

You also get the option of adding riders in this term plan. You can add riders to your term insurance plan to enhance its coverage.

There is an option to add the following 2 riders-

• SBI Life – Accidental Death Benefit Rider
• SBI Life – Accidental Total and Permanent Disability Benefit Rider

4. Tax Benefits:

In this, you also get tax benefits as per the Income Tax Act. You are eligible for tax benefits on the premiums paid for this term plan.

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SBI Life E-Shield Term Eligibility

Eligibility for buying SBI Life e-Shield Term Plan is as follows-

• The minimum age at the time of admission should be 18 years.
• Maximum age at entry: 70 years.
• You have to get a medical test done.

Documents Required For SBI Life E-Shield Term Plan

The documents required for buying SBI Life e-Shield Term Plan are as follows-

1. Duly filled insurance application form
2. Medical History Report
3. Identity Proof:

• Voter ID Card,
• Passport,

4. Address Proof:

• Voter ID Card,
• Aadhar card,
• Passport,
• bank account statement,
• Utility Bills (Electricity Bill, Telephone Bill).

5. I Ratio:

• employer’s certificate,
• Income Tax Return.

6. Age Proof:

• PAN card,
• driving license,
• Passport,
• PAN card,
• Birth certificate.

SBI Life E-Shield Term Plan Premium

In this term plan, you can choose your premium payment option as per your convenience. You can choose the following premium payment frequency in this term plan-

• outright
• annual
• half yearly
• monthly

How To Buy SBI Life EShield Term Plan?

You can buy SBI Life e-Shield term plan both online and offline. To buy through online you have to visit the official website of SBI Life and there you can buy this term plan through online.

To buy this term plan through offline mode, you will have to visit your nearest SBI bank branch. You can buy it there.