SBI Life Policy- Smart Shield Review & Details

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SBI Life Policy- Smart Shield is a traditional term plan. This is a affordable plan which provides financial solution for those who are not looking for any investment value in the life insurance policy. SBI Policy Smart shield is very good for these kind of customers.

SBI Life Policy- Smart Shield‘s Key Features:

  • Establishes a solid foundation for a lifetime of financial security for your family at a low cost.
  • Rewards you for maintaining a healthy lifestyle.
  • Wide variety of plan options to give you complete freedom from your liabilities.
  • Large Sum Assured rebates, substantially lowering your cost of insurance.
  • Riders available with SBI Policy Smart Shield areAccidental Death Benefit Rider, Accidental Total and Permanent Disability Rider and Accelerated Critical Illness cover option.
  • Tax benefits as per prevailing norms under the Income Tax Act, 1961.

SBI Life Policy- Smart Shield Plan Options

Option I                Level Term Assurance

Option II              Increasing Term Assurance

Option III             Decreasing Term Assurance (Loan Protection)

Option IV             Decreasing Term Assurance (Family Income Protection)


Minimum Policy Term    5 years

Maximum Policy Term   For Option I, II & IV – 30 years

For Option III – Equal to the outstanding loan term subject to maximum of 30 years


Minimum Premium         Single Premium: – Rs. 15,000/-

Regular Premium:-

Yearly: Rs. 5,000/-

Half-Yearly: Rs.2,500/-

Quarterly:  Rs.1,250/-

Monthly: Rs. 450/-

Premium Mode                Single/ Yearly / Half yearly / Quarterly / Monthly **


Minimum Entry Age        18 years

Maximum Entry Age       65 years

Maximum Maturity Age                70 years

Sum Assured

Minimum Sum Assured Rs. 25, 00,000 (× Rs. 1, 00,000)

Maximum Sum Assured                No Limit

Riders Available

SBI Life – Accidental Death Benefit Rider

SBI Life-Accidental Total & Permanent Disability Benefit Rider

Options Available under the Product

Accelerated Critical Illness Benefit


•            Death Benefit: Depending on the plan option chosen, the nominee will receive the effective Sum Assured under this policy.

•             Maturity Benefit: No survival benefit available at the end of the term.

Rider Benefit available with Smart Shield:

  •  SBI Life – Accidental Death Benefit Rider: In case of death due to an accident, the Rider Sum Assured is payable in addition to normal death benefit.
  •  SBI Life – Accidental Total and Permanent Disability Benefit Rider: The Rider Sum Assured will be paid on the Life Assured being found eligible for the Total Permanent Disability Benefit as defined in the policy document.
  •  Cover Option: You have the option to further enhance your Level Term Assurance and Increasing Term Assurance by opting for the Accelerated Critical Illness benefit.
  •  This option is available with Level Term Assurance and Increasing Term Assurance benefit.


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