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Top Features of SBI Life Saral Shield Plan

Updated on February 21, 2024 , 20091 views

No one knows what may happen in the future. This is the reason future planning is to be pursued today. Planning for your family’s future in advance will help you stay focused and face all unexpected uncertainties. Also, you can recommit yourself to your goals every day with the peace of mind that everything is going to be alright. This peace can only be there if you opt for the right insurance plan from the right insurer. For instance, the State Bank of India (SBI) provides insurance with the utmost care for customers with a great claim settlement ratio.

SBI Life Saral Shield Plan

SBI Life Saral Shield is here to help you secure your family’s future against all odds and challenges.

SBI Life Saral Shield Plan

SBI Saral Shield Plan is an individual, non-linked, non-participating, Life Insurance Pure Risk premium product. The plan provides protection for your family in cases of uncertainties. Mentioned below are the key features of this plan -

1. Level Term Assurance

With SBI Life Saral Shield Plan, you can choose a Basic Sum Assured while maintaining your current standard of living. You can go for a Level Cover throughout the entire term of the plan at an affordable cost.

2. Decreasing Term Assurance

With this plan, you can take a loan. You may feel the need to purchase a house or a car during the term tenure. While taking the loan, you might want to rest assured that the loan amount is paid-off as per the schedule and the structure with the plan helps you to cover the outstanding loan amount to make sure that your family remains unaffected during times of crisis and emergency.

3. Decreasing Term Assurance

If you need to secure a regular and stable monthly Income for your family, this plan will help you. With the Family Income Benefit structure that comes with Decreasing Term Assurance, the Basic Sum Assured that you have chosen will be divided by total term and the resultant amount will be paid to your family for the remaining months of the policy after death as a monthly income. Your Heir/nominee can also ask for a discounted value of the remaining monthly payouts.

4. Death Benefit

In case of death of the insured, the sum assured on death as on the date of death will be given out to the heir/nominee on the benefit that the insured chose at the beginning of the plan.

5. Surrender Benefit

The benefit with surrender value is available for Single Premium Policies only. The surrender value is allowed from the second year onward.

The details are mentioned below:

Structure(s) of Benefit Surrender Value
Level Term Assurance Single Premium (exclusive of applicable Taxes)75%(Outstanding term to maturity/ Total Term)* (Effective SA at time of Surrender/ Basic Sum Assured)
Decreasing Term Assurance Single Premium (exclusive of applicable taxes)75% (Outstanding term to maturity/ total term) * (Effective SA at time of Surrender / Basic Sum Assured)
Decreasing Term Assurance (Family Income Protection) Single Premium (exclusive of applicable taxes)75% (Outstanding term to maturity/ total term) * (Effective SA at time of Surrender / Basic Sum Assured) Here, Effective sum assured= Basic Sum Assured* (Outstanding term to maturity in months/total term in months)

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6. Nomination

The nomination under this plan will be as per Section 39 of the Insurance Act 1938.

7. Assignment

The assignment under this plan will be as per Section 38 of the Insurance Act 1938.

8. Tax Benefits

You are entitled to tax benefits as per relevant sections under the income tax Act, 1961.

9. Rider Option

Get SBI Life- Accidental Death Benefit Rider and SBI Life Accidental Total and Permanent Disability Benefit Rider with the plan.

Eligibility Criteria

The eligibility criteria for the plan are mentioned below.

Check out the basic sum assured, policy term, etc.

Details Description
Entry Age Minimum- 18 Years and Maximum- 60 Years
Maximum Age of Maturity 65 Years
Basic Sum Assured (*Rs. 50,000) Minimum- Rs. 7,50,000 and Maximum- Rs. 24,00,000 subject to Board Approved Underwriting Policy
Policy Term Minimum- 5 Years and Maximum for Level Term Assurance and Decreasing Term Assurance- 30 Years
Premium Payment Term Regular Premium- Pay Premium till the chosen policy term, Single Premium- Pay premium once for coverage till the chosen policy term

SBI Life Insurance Customer Care

You can contact them on 1800 267 9090 between 9 am to 9 pm. You can also SMS ‘CELEBRATE’ to 56161 or mail them at


SBI Life Saral Shield Plan is just what you need for your family. SBI Life Insurance products are some of the best ones to look out for. Read all the policy-related documents carefully before applying.

All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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