SBI Life Smart Shield Term Plan
SBI Life – Smart Shield Term Plan ensures that your family is financially secured with adequate protection to meet their requirements in case of an eventuality. It’s an individual, non-linked, non-participating pure protection plan with several attractive features and add-on benefits. You can get peace of mind with the SBI Life – Smart Shield Term Plan that your loved ones have the required financial assistance in your absence.
SBI Life Smart Shield Term Plan Features
- SBI Life – Smart Shield is an affordable pure protection plan to secure your family’s future.
- The plan offers two plan options – Level Term Assurance and Increasing Term Assurance to choose as per your requirements and financial needs.
- The minimum entry age is 18 years and the maximum is 60 years.
- The maximum entry age is 80 years.
- The basic sum assured offered is Rs 25 lakh and there is no maximum limit as it shall be as per the board-approved underwriting policy.
- The minimum policy term is 5 years and the maximum is 80 years less age at entry.
- It gives you the option to enhance plan coverage by option from two riders at a nominal cost – SBI Life – Accidental Death Benefit Rider and SBI Life – Accidental Total and Permanent Disability Benefit Rider.
- It rewards non-smokers with low premiums.
- If offers discounted premium on high sum assured.
- Tax benefits are available as per the prevailing tax laws of the Income Tax Act 1961.
Details of the 2 plan options under SBI Life Smart Shield Term Plan
|Level term assurance||If you are looking for a level cover for the entire term of the policy then this option is the ideal option for you. it comes at an affordable cost and ensures that in your absence your family is equipped with adequate funds to maintain their regular standard of living.|
|Increasing Term Assurance||If you want to protect your savings from the factors like a higher standard of living, inflation, then this is the ideal option for you. This option increases your insurance cover every year for a nominal additional premium. So you do not need to opt for a new policy even if your liabilities increase over time as this option can be enough to handle the increasing expenses.|
Why should you choose the SBI Life – Smart Shield Term Plan?
- To provide comprehensive financial protection to your family in your absence.
- To avail of the various benefits by choosing between two plans as per your needs and requirements.
- To protect your family with enhancing cover through rider benefits at an affordable cost.