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  #1  
April 14th, 2012, 03:51 PM
Super Moderator
 
Join Date: Mar 2012
SBI Life smart shield

I want to invest in Smart Shield plan of SBI Life insurance coman, so buddy from where can I get complete detail of benefit, terms and condition of SBI Life smart shield plan?

SBI Life - Smart Shield Insurance Policy offered by SBI (State Bank of India) is a traditional non-participating pure term life insurance plan, which is a one stop solution that meets all insurance needs.

Features and Benefits SBI Life - Smart Shield

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
The 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.
It 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
It is applicable only for single premiums. The surrender value 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 one is not satisfied with the policy, policy can be returned within 15 days of receiving the contract. The premium is returned excluding medical exam and stamp duty charges.

Last edited by Neelurk; April 1st, 2020 at 02:30 PM.
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  #2  
February 28th, 2017, 08:29 AM
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Re: SBI Life smart shield

Can you tell me about the features and benefits of the SBI Life - Smart Shield Insurance Policy offered by SBI (State Bank of India)?


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