SBI Life Smart Shield Plan- Best Features and Benefits

financial planning for your family’s secure future is an important aspect to accomplish. The first and the most important step to consider in this regard is opting for a great insurance plan. This is because a transparent and well-equipped insurance plan will help you not only secure your family’s financial security but will also help you live a stress-free life.

Improve your standard of living, set your Financial goals and get Investing today with the State Bank of India Life Smart Shield Plan. Let’s take a look at this plan.

SBI Life Smart Shield Plan

It is an individual, non-linked, non-participating Life Insurance Pure Risk premium Product. It is designed to meet all your insurance needs. The features and benefits are mentioned below:

1. Affordability

SBI Smart Shield plan is affordable and the perfect partner for your family’s financial security.

2. Two Plan Options

The plan comes with a two-plan option. It is mentioned below:

a. Level Term Assurance

If you choose this option, you can go for a level cover throughout the entire term of the plan. It comes at an affordable cost. You can choose the sum assured and also keep your family’s requirement in mind.

b. Increasing Term Assurance

You can increase term assurance at 5% Simple per annum with SBI Life Protection Plan. This is the ideal plan if you don’t want to compromise with the future. It increases your insurance cover, year on year, for a mere additional premium.

3. Death Benefit

In case of death of the insured, the sum assured will be paid to the nominee/Heir. The effective sum assured for increasing term assurance as on date of death will be the sum assured increased at simple 5% per annum as per the schedule given you at the time of the commencement of the policy.

4. Premium Discounts

With SBI life insurance, special premium discounts are available with sum assured. Look for the same below:

5. Surrender Benefit

The surrender value benefit is open to single premium cases. The benefits will be given out immediately on request or allowed from the first policy year. The option and surrender value is mentioned below:

6. Nomination

The nomination will be as per Section 39 of the Insurance Act 1938 with SBI Smart Shield Plan.

7. Assignment

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

8. Tax Benefits

You are entitled to income tax benefit as mentioned in the Income Tax 1961.

Eligibility Criteria

The eligibility criteria for the Smart Shield Plan is mentioned below.

Look for Basic Sum Assured, Premium Frequency Loading and more.

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 info@sbi.co.in

Conclusion

SBI Smart Shield Plan is the one-stop solution to all your family’s financial security. Make sure to go through the policy-related documents carefully before applying.