SBI Life eShield plan is a term insurance plan created by SBI Life Insurance, which is designed to provide comprehensive life insurance coverage at an affordable cost. The plan provides financial security to policyholders in the event of an untimely death, and ensures that their loved ones are financially secure.
The SBI Life eShield plan is a pure term insurance plan, which means that it does not offer any maturity benefits. This plan has been created to provide life cover only, and is aimed at families and individuals who wish to ensure their financial security in the event of an unfortunate event.
The SBI Life eShield plan offers two types of premium payout options – regular premium and single premium. The regular premium option allows policyholders to pay their premiums on an annual basis. The single premium option, on the other hand, allows policyholders to pay the full premium amount in one go.
The policyholder has the option to choose the sum assured at the time of policy purchase, which is the amount of money that the policy will pay out in the event of the policyholder’s death. The minimum sum assured for the SBI Life eShield plan is Rs. 20 lakhs, and the maximum sum assured is subject to underwriting.
SBI Life eShield plan offers policyholders the flexibility to choose their policy term, which can be anywhere between 5 and 30 years. Policyholders also have the option to choose whether they want their sum assured to remain stable or to increase each year. The plan also provides a discount on premiums for non-smokers.
In summary, SBI Life eShield plan is a comprehensive term insurance plan aimed at providing financial security to policyholders and their loved ones in the event of the policyholder’s death. The plan offers policyholders flexibility and choice, making it an affordable and ideal choice for families and individuals who want to ensure their financial security.