SBI Life – eShield

  • Home
  • Insurance
  • SBI Life – eShield

SBI Life - eShield

Life is very uncertain and today more than ever, being the breadwinners in our homes we want the best for our families. Everyone wants their family to be secure and financially equipped in their absence. The Term Plan is an individual, non-participating, non-linked pure term plan. The plan is available at an affordable cost to have even under unforeseen circumstances, and provide you with benefits specially tailored for you. With one click you can get inured without the tedious paperwork and wasting of your time. Anyone with the ages of 18 - 65 years can be eligible to opt for this plan, and can choose from one of 4 plan options.

Apply Now

On SBI Life Official Website

download (11)

Updated: 29-05-2024 09:49:43 AM

The 4 plan options available are:

  1. Level Cover – with this plan the sum assured remains the same throughout the term of the policy.
  2. Level Cover with Accidental Death Benefit – with this plan you can get the option to get an additional coverage against death due to accident, during policy term.
  3. Increasing Cover – if you’re thinking of inflation, increasing liabilities and you may need higher insurance then this is the plan for you. This increases the sum assured by 10% on simple interest every 5 years without your premium increasing
  4. Increasing Cover with Accidental Death Benefit – works the same way as the Increasing Cover plan but you get additional coverage against death due to accident.

SBI Life eShield has very easy steps on how to get insured:

  1. Log on to
  2. Select Buy eSheild Online
  3. Provide your personal details such as Name, DOB, contact number, etc.
  4. Choose the plan you wish to take up, with the policy term and the sum assured
  5. Fill in a questionnaire on your health information and family health history
  6. Fill in your nominee details
  7. Make a final check on all information and if satisfied you can proceed to make the premium payments
  8. And provide self-attested KYC/AML documents.

Key benefits of this plan are:

Plan Term Min:


Renewability Customers can renew the policy after payment of due premiums within 2 years of the last date of unpaid premium
Sum assured Minimum: Rs. 20,00,000; Maximum: No limit
Premiums Minimum: Rs. 3,500; Maximum: No limit
Premium payment Yearly
Coverage Death benefit will be paid if all premiums are paid regularly when the policy is in force. No survival benefits are available at the end of the term. Accidental death benefit: The accidental death benefit will be equal to the basic sum assured or Rs. 50 lakhs, whichever is lower.
Surrender period Policy does not offer any surrender value
Free-look period If customers are not satisfied, policy can be returned within 15 days of receiving the contract. Premiums will be refunded after stamp duty and medical examination charges are deducted.

Eligibility criteria:

  • Minimum Age at Entry: 18 years (Level cover and level cover with accidental death benefit: 65 years; Increasing cover and increasing cover with accidental death benefit: 60 years)
  • Maximum Age at Entry: 70 years

An example:

For the Level Cover plan

Mr. Shenoy aged 38 years, a healthy person with no medical ailments and a non-smoker. Decided to take up the SBI Life eShield policy for a sum assured of Rs. 50, 00, 000 for a period of 20 years. Mr. Shenoy decides to pay the premium annually, unfortunately Mr. Shenoy dies due to a heart attack during the policy term in the 14th year. Mr. Shenoy has named his wife as the nominee and that’s why she will receive the sum assured of Rs. 50, 00, 000.

For the Increasing Cover plan

Mr. Balasubramanian aged 48 years, a healthy non-smoker decides to take up the SBI Life eShield policy with the Increasing Cover plan for a sum assured of Rs. 50, 00, 000 for a period of 20 years. Mr. Balasubramanian pays his premium annually and during the 11th year of his policy, he passes away. Since he opted for the Increasing his sum assured will have increased by a simple 10% every 5 years, so effectively the sum assured will be Rs. 55, 00, 000 from the 6th year to the end of the 10th year, therefore the sum assured will have had 2 increases by the 11th year making the sum assured an amount of Rs. 60, 00, 000 which will be payable to his nominee.


View and improve your credit score -
for free.

  • Know how good your score is
  • Get insights on how to improve it
  • Unlock offers as per your score
Evaluate Now