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SBI Life eShield Next Term Insurance Plan Features, Eligibility & Benefits
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SBI Life eShield Next Term Plan – Know Key Features and Benefits

Among several term insurance plans from different insurance companies, the SBI term insurance plans have unique identification for their special features and benefits. In this array, SBI Life Insurance has introduced a new term plan – SBI eShield Next, which can significantly boost your financial security.

Ramesh, a 35 years old young family man, is now searching for a term insurance plan that can offer complete financial protection to his family, along with a few other benefits. From his long search in the market, he has finally identified SBI Life eShield Next. Let us also know more about this new term plan from SBI along with Ramesh.

Features of SBI Life eshield Next Term Plan

The highlight of SBI shield Next: This plan ‘Levels Up’ protection coverage as the policyholder achieves his life milestones. This plan has three options, and they include: 

  1. Level cover: In this, the amount assured will stay constant throughout the policy term period.
  2. Increasing cover: Under this, the amount assured on death increases by 10% p.a of the basic sum assured at the end of every 5 years of the policy term period.
  3. Level cover with future-proofing benefit: This option provides a choice to increase the cover as the crucial milestones of your life is achieved, such as marriage, buying a house, child’s education, and more.

 

This pure risk product is designed to offer flexible premium paying options within your reasonable limits. But, at the same time, it also helps to level up the required insurance protection through a specific increase in the sum assured that is linked to ‘level up’ milestones that happen in a person’s life like marriage, higher education, children’s education, and more.  

Undoubtedly this SBI life term insurance is a new generation plan with ample future benefits to gain from.

Additional Features of SBI Life eShield Next:

1. An increase in the amount assured

  • On marriage, about 50% of the basic sum assured can be increased up to Rs. 50 lakhs 
  • On childbirth in your family, 25% of the sum assured can be increased, which can be up to Rs. 50 lakhs 
  • On the birth of a second child or adoption of a child, about 25% of the sum assured can be increased, up to Rs. 25 lakhs 
  • On the occasion of buying your first house, the sum assured can be increased up to 50%, which is up to Rs. 50 lakhs 

 

 2. Premium Options 

This SBI term insurance plan also offers you a flexible premium payment option. You are flexible to pay the premium once a year or regularly pay for a limited period. This limited period may be specific to 5 years to up to 25 years, and this will also include the option to pay for a period subtracting 5 years of the policy term period.

You can choose to pay the premium lump sum or monthly installments. Considering your personal situations, you have the choice to choose the premium payment mode, which will also not disturb your other financial commitments. 

3. Policy Cover 

The policy cover can be chosen up to 100 years, which is a whole life, or up to your age of 85 years.  

4. Your Life Partner Benefit 

This plan ensures that in the absence of the policyholder, his or her spouse can still get sufficient coverage. This is very important because the surviving spouse will have to take up the sole responsibility of taking of the family in the absence of the policyholder.  

5. Rider Benefits 

This SBI term plan further comes with rider benefits, which includes;

  1. Accidental death benefit 
  2. Accidental total and permanent disability benefit 

 

 5 Reasons Why should you choose this SBI Life eShield Next Term Plan? 

Here are some valid reasons why you need to choose this SBI Life eShield Next term plan; 

  1. Complete security for your family: This plan can ensure complete financial protection for your family. Therefore, you will be absolutely free from any further tensions in your life, that is especially after your absence 
  2. Highly flexible: This plan comes with the three best options to choose from according to your preferences and requirements. Therefore, you can select the one that will suit your lifestyle and financial commitments 
  3. Simple: This plan can be customized according to your requirements. There are many optional benefits available in this plan, which you can choose according to your need and preferences. Therefore, making it simple for you to select the right one as you want it 
  4. Affordable: This plan is absolutely affordable in terms of your premium payment. You are flexible in choosing the premium payable mode such as monthly, annually, or as a lump sum. By choosing the right option, you will never be under the burden of paying your premium, and thus your policy will also be live safe throughout the term period 
  5. Reliable: This is another best thing to highlight about the plan. Since this plan can cover your life for up to 100 years, that is whole life cover, or even up to 85 years, and you can rely on it to get complete security, even if you get older 

 

All these above highlights make this plan a perfect choice. Regardless of your changing financial goals, you can still choose this plan to pay your premium steadily without any burden and disturbances. Therefore, you finally achieve your financial goals as you desired.  

With a number of key benefits like the flexible sum assured, multiple death benefit payout option, three types of plans under one title, flexible sum assured, Tax benefit, up to 30 days of free look period, and additional protection through the rider options make this a perfect term plan for you and your family. 

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