SBI Life - Smart Shield is a very traditional insurance plan that gives a one stop solution to meet all insurance needs, this is a non - participating pure term plan. The plan is tailored to suit individuals with the best financial protection at a very affordable price.

The SBI Life - Smart Shield has 4 different plans from which you can choose:

1. Level Term Assurance
2. Increasing Term Assurance
3. Decreasing Term Assurance with Loan Protection
4. Decreasing Term Assurance with Family Income Protection
Depending on the plans chosen by the policyholder the nominees will receive benefits.

Eligibility Criteria:
• Minimum Age at Entry: 18 years
• Maximum Age at Entry: 60 years
• Age at Maturity: 65 years

Key Features and Benefits of this Plan:

Plan Term
Minimum: 5 years; Maximum: 30 years (Level Term Assurance, Increasing Term Assurance and Decreasing Term Assurance.

Sum Assured Minimum:
Rs. 25,00,000; Maximum: No Limit

Premiums
Single premium: Rs. 15,000 Regular Premium Yearly: Rs. 5,000; Half-yearly: Rs. 2,500; Quarterly: Rs. 1,250 Monthly: Rs. 450

Premium Payment
Yearly/half-yearly/quarterly / monthly

Coverage
This policy does not offer any survival benefits at the end of the term. However, coverage can be customized by choosing from several additional benefits such as Accidental Death Benefit Rider, Accidental Total and Permanent Disability Benefit Rider and Accelerated Critical Illness cover. This policy ensures financial security for the family apart from offering rewards for a healthy lifestyle. Death Benefit: If the life assured dies during the term, the nominee will receive the benefits. Accelerated Critical Illness benefit: Customers can enhance Level Term Assurance and Increasing Term Assurance

Riders
SBI Life - Accidental Death Benefit Rider: The Rider Sum Assured is paid besides normal death benefit. SBI Life - Accidental Total and Permanent Disability Benefit Rider: The Rider Sum Assured will be paid if the Life Assured is eligible for the benefit.

Surrender period/value
Applicable only for single premiums. The surrender value calculated is calculated as follows:
Level term assurance
Surrender value = single premium x 75% (total term)
Decreasing term assurance Surrender value = single premium x 75% (total term) x (effective sum assured at surrender)
Increasing term assurance
Surrender value = single premium x 80% (total term)

Free-look period
If customers are not satisfied with the policy, policy can be returned within 15 days of receiving the contract. The premium will be returned excluding medical examination and stamp duty charges.