SBI Term Plans
A term life insurance plan provides financial coverage to individual life. On demise of life insured, a predetermined amount is provided to the nominees of the insured life. The life cover can be bought by paying relatively low premium. You can get coverage amount based on your age, life cover required, policy term etc.
SBI life insurance has three term plans which are described below:
Smart Shield: Smart Shield is a comprehensive term insurance plan. Anyone aged between 18 years to 65 years can buy Smart Shield. The Sum Assured begins from Rs 25 lacs and there is no limit on maximum Sum Assured. The policy term available is from 5 years to 30 years. There are different variants available- level term, increasing term, decreasing term (loan protection) and decreasing term (family income protection). Accelerated critical illness benefit is also available. You can also add accidental death benefit and accidental total and disability benefit rider.
Saral Shield: This term plan comes with 3 variants- level term assurance, decreasing term assurance (loan protection) and decreasing term assurance (family income protection). This term plan provides life cover from Rs 7.5 lacs to Rs 24 lacs. The policy term is from 5 years to 30 years. There are no riders available with the plan.
Swadhan: This is a return of premium term life insurance plan. On survival, you get refund of premiums. Anyone aged between 18 years to 65 years can buy Swadhan. You can choose financial cover from Rs 3 lacs to Rs 1 Crore. The policy term is from 5 years to 10 years. There are no riders available with the plan.
Compare Term Plans!!!