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Home > Protection Plans > SBI Life - eShield

SBI Life - eShield
(UIN : 111N089V01)

  Brochure  | Policy Document

Introduction
Key Features

Product Snapshot
Benefits
 
  
Introduction:
 
SBI Life - eShield is an Individual, Non Linked, Non Participating pure term plan, with options and benefits specially tailored for those who want the best financial protection at an affordable cost.
 

Key Features:
 
Security for your family at an affordable premium.
 
Easy and seamless online process for securing life cover.
 
Rewards you for maintaining a healthy lifestyle.
 
Wide variety of plan options, which has level and increasing cover.
 
Additional benefit of Accidental Death Benefit.
 
Tax benefits# u/s 80C and 10(10D) of Income Tax Law, 1961.
 

Product Snapshot
 
Plan Options
Level Cover
Level Cover with Accidental Death Benefit
Increasing Cover
Increasing Cover with Accidental Death Benefit
Age^ at Entry Min: 18 years Max: For Level Cover & Level Cover with Accidental Death Benefit: 65 years

For Increasing Cover & Increasing Cover with Accidental Death Benefit: 60 years
Maximum Age^ at Maturity 70 years
Basic Sum Assured Min: Rs. 20,00,000/- Sum Assured would be in multiples of Rs.1, 00,000 only. Max: No Limit (Subject to underwriting)
Policy Term Min: For Level Cover & Level Cover with Accidental Death Benefit: 5 years

For Increasing Cover & Increasing Cover with Accidental Death Benefit: 10 years
Max: 30 years
Premium Frequency Yearly
Premium Payment term Same as Policy term
Premium Amount Min: Rs. 3,500 Max: No Limit

^ All the references to age are age as on last birthday.

 
Effective Sum Assured:
Level Cover and Level Cover with Accidental Death Benefit: Effective Sum Assured on any day is equal to the Basic Sum Assured.
 
Increasing Cover and Increasing Cover with Accidental Death Benefit : Effective Sum Assured on any day will be the Basic sum assured increased at the rate of 10% simple interest after every 5th policy year without increasing the premium.
 

Benefits:
 
On Death:
 
Depending upon the Plan option chosen, the nominee will receive the Effective sum assured at the time of death.
 
 
Death benefit will be paid provided all regular premiums are paid and the policy is in force as on the date of claim.
 
On Maturity: No survival benefit available at the end of the term.
 
Other Benefits:
 
Accidental Death Benefit: Inbuilt under plan options - Level Cover with Accidental Death Benefit and Increasing Cover with Accidental Death Benefit.
 
 
In case one of the above plan options is chosen, then in case of death of the life assured due to accident during the policy term, Accidental Death Benefit will be paid to the beneficiary in addition to the effective sum assured at the time of death.
 
 
The Accidental Death Benefit will be equal to the Basic sum assured or Rs. 50 Lakhs whichever is lower.
 
Tax Benefits:
 
Tax deduction under Section 80(C) is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured.
 
 
Tax exemption under Section 10(10D) is available, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy.
 
* Tax benefits are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details. These are only the brief features of the plan. For more details on risk factors, terms and conditions please read the sales brochure carefully.
1G.ver.01-03/14 WEB ENG

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS. IRDA clarifies to public that • IRDA or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. • IRDA does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.
 
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Insurance is the subject matter of solicitation .IRDA Registration no. 111 issued on 29th March 2001.
Registered & Corporate Office: SBI Life Insurance Co. Ltd, Natraj, M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai - 400 069.
CIN: U99999MH2000GOI129113
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