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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.
INTRODUCTION
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.
KEY FEATURES
Plan Options
Age^ at entry
Level Cover Level Cover with Accidental Death Benefit Increasing Cover Increasing Cover with Accidental Death Benefit Min:18 Years Max: For Level Cover & Level Cover with Accidental Death Benefit 65 Years For Increasing Cover & Increasing Cover with Accidental Death Benefits 60 Years
70 Years 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 Benefits 5 years
For Increasing Cover & Increasing Cover with Accidental Benefits 10 Years
Max: 30 Years
PLAN OPTIONS
Max: No Limit
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 a claim On Maturity: No survival benefit available at the end of the term Other Benefits In case of Level Cover with Accidental Death Benefit and Increasing Cover with Accidental Death Benefit 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.
BENEFITS