SBI Life E-shield is a pure online term insurance plan from SBILife. Like other term plans this plan will cover life risk with a very high sum assured value with a less premium. In this plan insurer will get rider benefits. There is couple more benefits of SBILife E-Shield term plan which makes this plan different from other policies. Let’s find out the features and review SBI Life E-shield plan.
SBI Life E-shield Key Features and Benefits
- This is a pure term plan; one can buy this policy online from SBILife website.
- Like other term plans there is no maturity benefit or bonus.
- Minimum entry age is 18 years. Minimum sum assured value is 20 lakh and then further multiples of 1 lakh.
- One can choose the coverage plan out of 4 options. Level Cover (LC), LC with Accidental Death benefit, Increasing cover (IC), IC with Accidental benefit
- Under increasing cover one can get 10% sum assured after completing each 5 year of policy without increasing the premium.
- Additional Accidental Death Benefit is equal to the Basic Sum Assured of Rs 50 lakhs, whichever is lower
- If you are a non-smoker than you can get more discounts on premium. This is the rewards for maintaining a healthy lifestyle according to SBI Life E-shield.
- Enjoy income tax benefit under section 80C and 10(10D)
- No surrender benefit. If insurer stops paying premium then policy benefit will cease. But it can be revived within 3 years range.
Check out the SBILife E-Shield Brochure to get more information in detail.
How to Buy SBI Life E-shield Online
If you want buy SBILife E-Shield term plan than you have to visit their website first. As this is an online term plan one can’t buy it offline. Click on the BUY NOW button and you will see a screen asking for your personal information.
You have to fill up details step by step: Personal Details, Medical Details and then Make payment. In case if face any issue simply call their call center 1800225354 / 022 3947 5757.
Should I buy SBI Life E-shield online term plan?
As per recent claim settlement ratio data SBILife has maintained 91.06% which is good. You can also check the number of claim received. Off-course no comparison with LIC, the best insurance company declared recently based on this data. And with the increasing life cover one can get 5 lakh more sum assure after every 5 year without changing the yearly premium. Considering this point I can say that this is an advantage one should consider while comparing with other online term plans. So, if you understood the importance of a term plan in your life than you can buy this product to secure your life.
Don’t Miss SBILife Unit Plus Super Plan Review
Almost all online term plans has similar features, but as per your need, understanding and trust with a brand you can buy any plan. SBILife has done significantly good job in this insurance sector and hopefully it will enhance from here.
What do you say about this SBI Life E-shield online term plan? Waiting for your comments.