{"id":8117,"date":"2018-06-28T22:36:22","date_gmt":"2018-06-28T17:06:22","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=8117"},"modified":"2018-06-28T22:36:22","modified_gmt":"2018-06-28T17:06:22","slug":"sbi-term-insurance","status":"publish","type":"page","link":"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/","title":{"rendered":"SBI Term Insurance"},"content":{"rendered":"

Term plans from SBI are a very sought after and popular choice. These protection plans are tailored to provide financial relief and security to a policyholder\u2019s family in the unfortunate event of their demise. The\u00a0term plans from SBI\u00a0offer only death benefits but also provide riders that offer additional cover such as accidental death benefits.<\/p>\n

\n
\n

Types of SBI Term Insurance Plans:<\/h2>\n
\n
SBI Life – Smart Shield<\/strong><\/p>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Feature<\/strong><\/td>\nDescription<\/strong><\/td>\n<\/tr>\n
Age of Entry<\/td>\nMinimum age is 18 years as at last birthday
\nmaximum age is 65 years as at last birthday<\/td>\n<\/tr>\n
Age at Maturity<\/td>\n70 years<\/td>\n<\/tr>\n
Policy Term<\/td>\nMinimum Term 5 years
\nMaximum term 30 years<\/td>\n<\/tr>\n
Sum Assured<\/td>\nMinimum sum assured is Rs 25,00,000
\nNo maximum sum assured limit<\/td>\n<\/tr>\n
Premium Payment Terms<\/td>\nEqual to policy term<\/td>\n<\/tr>\n
Premium Payment Modes<\/td>\nYearly, Half-yearly, quarterly and monthly<\/td>\n<\/tr>\n
Premium Amount<\/td>\nSingle premium minimum Rs 15000
\nyearly Rs 5000
\nQuarterly Rs 1,250
\nHalf-yearly Rs 2500
\nMonthly Rs 450
\nNo maximum limit<\/td>\n<\/tr>\n
Plan Options<\/td>\nDecreasing Term assurance for loan protection
\nDecreasing term assurance for family income protection
\nIncreasing term assurance
\nlevel term assurance<\/td>\n<\/tr>\n
Riders<\/td>\nAccidental Death Benefit
\nAccidental total and Permanent Disability
\nAccelerated critical Illness Cover<\/td>\n<\/tr>\n
Benefits<\/td>\nThe Policy offers Death benefits
\nThe policy offers Surrender benefits for single premium policies
\nThere is no survival benefit or paid up value<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n
\n
SBI Life – Saral Shield<\/strong><\/p>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Feature<\/strong><\/td>\nDescription<\/strong><\/td>\n<\/tr>\n
Age of Entry<\/td>\nMinimum age is 18 years as at last birthday
\nmaximum age is 60 years as at last birthday<\/td>\n<\/tr>\n
Age at Maturity<\/td>\n65 years<\/td>\n<\/tr>\n
Policy Term<\/td>\nMinimum Term 5 years
\nMaximum term 30 years for level term and family income protection
\nFor loan protection, maximum term equal to outstanding loan term capped to 30 years<\/td>\n<\/tr>\n
Sum Assured<\/td>\nMinimum sum assured is Rs 7,50,000
\nMaximum Sum assured is Rs 24 lacs<\/td>\n<\/tr>\n
Premium Payment Terms<\/td>\nEqual to policy term<\/td>\n<\/tr>\n
Premium Payment Modes<\/td>\nYearly, Half-yearly, quarterly and monthly for level term assurance
\nSingle premium for decreasing term assurance<\/td>\n<\/tr>\n
Premium Amount<\/td>\nSingle premium minimum Rs 10000
\nyearly Rs 2000
\nQuarterly Rs 600
\nHalf-yearly Rs 1100
\nMonthly Rs 250<\/td>\n<\/tr>\n
Plan Options<\/td>\nLevel term assurance
\nDecreasing Term assurance for loan protection
\nDecreasing term assurance for family income protection<\/td>\n<\/tr>\n
Riders<\/td>\nAccidental Death Benefit
\nAccidental total and Permanent Disability
\nAccelerated critical Illness Cover<\/td>\n<\/tr>\n
Benefits<\/td>\nThe Policy offers Death benefits<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n
\n
SBI Life – Grameen Bima<\/strong><\/p>\n
\n\n\n\n\n\n\n\n\n\n
Feature<\/strong><\/td>\nDescription<\/strong><\/td>\n<\/tr>\n
Age of Entry<\/td>\nMinimum age is 18 years as at last birthday
\nmaximum age is 50 years as at last birthday<\/td>\n<\/tr>\n
Policy Term<\/td>\nThe policy term is 5 years<\/td>\n<\/tr>\n
Sum Assured<\/td>\nMinimum sum assured is Rs 10,000
\nMaximum Sum assured is Rs 50,000<\/td>\n<\/tr>\n
Premium Payment Modes<\/td>\nSingle<\/td>\n<\/tr>\n
Premium Amount<\/td>\nMinimum amount is Rs 300
\nMaximum Amount is Rs 2000
\nPremiums to be paid in multiples of Rs 100<\/td>\n<\/tr>\n
Benefits<\/td>\nThe Policy offers Death benefits equal to the sum assured<\/p>\n

The policy offers surrender benefit from the second year onwards<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

\n
SBI Life – Saral Swadhan+<\/strong><\/p>\n
\n\n\n\n\n\n\n\n\n\n\n\n
Feature<\/strong><\/td>\nDescription<\/strong><\/td>\n<\/tr>\n
Age of Entry<\/td>\nMinimum age is 18 years as at last birthday
\nmaximum age is 55 years as at last birthday<\/td>\n<\/tr>\n
Age at Maturity<\/td>\nMinimum age of maturity is 28 years
\nMaximum age of maturity is 70 years<\/td>\n<\/tr>\n
Policy Term<\/td>\nMinimum Term 10 years
\nMaximum term 15 years<\/td>\n<\/tr>\n
Sum Assured<\/td>\nMinimum sum assured is Rs 30,000
\nMaximum Sum assured is Rs 4,75,000<\/td>\n<\/tr>\n
Premium Payment Terms<\/td>\n10 years<\/td>\n<\/tr>\n
Premium Payment Modes<\/td>\nYearly<\/td>\n<\/tr>\n
Premium Amount<\/td>\nMinimum Premium Amount is Rs 1500
\nMaximum Premium Amount is Rs 5000<\/td>\n<\/tr>\n
Benefits<\/td>\nThe Policy offers Death benefits
\nThe policy offers maturity benefit
\nThe policy offers paid up value<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n
\n
SBI Life \u2013 eShield<\/strong><\/p>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Feature<\/strong><\/td>\nDescription<\/strong><\/td>\n<\/tr>\n
Age of Entry<\/td>\nMinimum age is 18 years as at last birthday
\nmaximum age is 65 years for level cover with or without rider
\nmaximum age is 60 years for increasing cover with or without rider<\/td>\n<\/tr>\n
Age at Maturity<\/td>\n70 years<\/td>\n<\/tr>\n
Policy Term<\/td>\nMinimum Term for level cover with or without rider is 5 years
\nMinimum Term for increasing cover with or without rider is 10 years<\/p>\n

Maximum term for all options is 30 years<\/td>\n<\/tr>\n

Sum Assured<\/td>\nMinimum sum assured is Rs 20 lacs
\nMaximum Sum assured has no limit
\nSum assured will be in multiples of Rs 1 lac<\/td>\n<\/tr>\n
Premium Payment Terms<\/td>\nEqual to policy term<\/td>\n<\/tr>\n
Premium Payment Modes<\/td>\nAnnual<\/td>\n<\/tr>\n
Premium Amount<\/td>\nMinimum premium amount is Rs 3500
\nNo maximum limit on premium amount<\/td>\n<\/tr>\n
Plan Options<\/td>\nLevel cover
\nLevel cover with accidental death benefit
\nIncreasing Cover
\nIncreasing cover with accidental death benefit<\/td>\n<\/tr>\n
Riders<\/td>\nAccidental Death Benefit<\/td>\n<\/tr>\n
Benefits<\/td>\nThe Policy offers Death benefits<\/p>\n

The policy offers no surrender or maturity benefits<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

\n
SBI Life – Smart Swadhan Plus<\/strong><\/p>\n
\n\n\n\n\n\n\n\n\n\n\n\n
Feature<\/strong><\/td>\nDescription<\/strong><\/td>\n<\/tr>\n
Age of Entry<\/td>\nMinimum age is 18 years as at last birthday
\nmaximum age is 65 years as at last birthday<\/td>\n<\/tr>\n
Age at Maturity<\/td>\nMaximum age at maturity is 75 years<\/td>\n<\/tr>\n
Policy Term<\/td>\nMinimum Term is 10 years<\/p>\n

Maximum term is 30 years<\/td>\n<\/tr>\n

Sum Assured<\/td>\nMinimum sum assured is Rs 5 lacs
\nMaximum Sum assured has no limit<\/td>\n<\/tr>\n
Premium Payment Terms<\/td>\nSingle Payment, 5 year terms, 10 year terms, 15 year terms and terms equal to term of the policy<\/td>\n<\/tr>\n
Premium Payment Modes<\/td>\nSingle, yearly, half-yearly, quarterly and monthly<\/td>\n<\/tr>\n
Premium Amount<\/td>\nMinimum premium amount is Rs 21,000 for single premium
\nRs 2300 for yearly premium
\nRs 1200 for half-yearly
\nRs 650 for quarterly and
\nRs 250 for monthly<\/td>\n<\/tr>\n
Benefits<\/td>\nThe Policy offers Death benefits<\/p>\n

The policy offers surrender and paid up benefits<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n

Features and Benefits of SBI term Insurance Plans:<\/h2>\n
    \n
  1. These plans provide financial security to the family of the deceased policyholder thereby preventing any burden of financial commitments such as housing loans or education loans from being passed on<\/li>\n
  2. Availing the term insurance plans from SBI are easy and simple and come in both online and offline modes. The term insurance plans kick in the instant the first premium has been paid<\/li>\n
  3. The premium amounts to be paid for these\u00a0term insurance plans\u00a0are low and affordable allowing people from all walks of life to enjoy the benefits of the plan. The plans also offer options of premium payment terms in either single or regular pay<\/li>\n
  4. The term insurance plan offer riders that can be purchased for additional coverage such as accidental death benefits<\/li>\n
  5. The premiums paid towards these term insurance plans are eligible to enjoy tax benefits under sections 80C of the income tax act, 1961<\/li>\n<\/ol>\n

    SBI Term Plan FAQs:<\/h2>\n

    1. Q) What is the grace period of the policy?
    \nA)\u00a0<\/strong>Grace period for SBI term insurance plans are 30 days for half yearly, yearly and quarterly premium payment terms and 15 days for monthly premium payment terms. Payments missed after grace period will lead to the policy being lapsed. Lapsed policies can be revived provided the application for revival is within 3 years from the date of last missed premium and all arrears are paid.<\/p>\n

    2. Q) What is the free look period of the policy?
    \nA)\u00a0<\/strong>The free look period is 15 days for all policies that have been purchased through any other delivery channel apart from distance marketing and 30 days for those policies purchased through distance marketing<\/p>\n

    3. Q) Are the term insurance policies eligible for tax benefits?
    \nA)\u00a0<\/strong>Yes. The premiums paid towards these policies are eligible for tax deductions under sections 80C, 80D and 10(10D) of the income tax act of 1961<\/p>\n

    4. Q) What are the exclusions for coverage of riders?
    \nA)\u00a0<\/strong>The riders will not cover any eventualities caused due to high risk sports and other high risk activities, Disasters such as nuclear contamination, criminal activities, drug abuse and self-inflicted injuries<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Term plans from SBI are a very sought after and popular choice. These protection plans are tailored to provide financial relief and security to a policyholder\u2019s family in the unfortunate event of their demise. The\u00a0term plans from SBI\u00a0offer only death benefits but also provide riders that offer additional cover such as accidental death benefits. Types … Continue reading “SBI Term Insurance”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-8117","page","type-page","status-publish","hentry"],"yoast_head":"\r\nSBI Term Insurance | Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"SBI Term Insurance | Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\" \/>\r\n<meta property=\"og:description\" content=\"Term plans from SBI are a very sought after and popular choice. These protection plans are tailored to provide financial relief and security to a policyholder\u2019s family in the unfortunate event of their demise. The\u00a0term plans from SBI\u00a0offer only death benefits but also provide riders that offer additional cover such as accidental death benefits. Types … Continue reading "SBI Term Insurance"\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antworksmoney\/\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:site\" content=\"@AntworksMoney\" \/>\r\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"6 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/\",\"name\":\"SBI Term Insurance | Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\",\"isPartOf\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#website\"},\"datePublished\":\"2018-06-28T17:06:22+00:00\",\"dateModified\":\"2018-06-28T17:06:22+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.antworksmoney.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SBI Term Insurance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#website\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/\",\"name\":\"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.antworksmoney.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#organization\",\"name\":\"antworksmoney.com\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg\",\"contentUrl\":\"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg\",\"width\":335,\"height\":328,\"caption\":\"antworksmoney.com\"},\"image\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/antworksmoney\/\",\"https:\/\/twitter.com\/AntworksMoney\",\"https:\/\/www.linkedin.com\/company\/13288601\/\",\"https:\/\/in.pinterest.com\/antworksmoney\"]}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SBI Term Insurance | Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/","og_locale":"en_US","og_type":"article","og_title":"SBI Term Insurance | Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments","og_description":"Term plans from SBI are a very sought after and popular choice. These protection plans are tailored to provide financial relief and security to a policyholder\u2019s family in the unfortunate event of their demise. The\u00a0term plans from SBI\u00a0offer only death benefits but also provide riders that offer additional cover such as accidental death benefits. Types … Continue reading \"SBI Term Insurance\"","og_url":"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/","og_site_name":"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments","article_publisher":"https:\/\/www.facebook.com\/antworksmoney\/","twitter_card":"summary_large_image","twitter_site":"@AntworksMoney","twitter_misc":{"Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/","url":"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/","name":"SBI Term Insurance | Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments","isPartOf":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#website"},"datePublished":"2018-06-28T17:06:22+00:00","dateModified":"2018-06-28T17:06:22+00:00","breadcrumb":{"@id":"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.antworksmoney.com\/blog\/sbi-term-insurance\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.antworksmoney.com\/blog\/"},{"@type":"ListItem","position":2,"name":"SBI Term Insurance"}]},{"@type":"WebSite","@id":"https:\/\/www.antworksmoney.com\/blog\/#website","url":"https:\/\/www.antworksmoney.com\/blog\/","name":"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments","description":"","publisher":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.antworksmoney.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.antworksmoney.com\/blog\/#organization","name":"antworksmoney.com","url":"https:\/\/www.antworksmoney.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg","contentUrl":"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg","width":335,"height":328,"caption":"antworksmoney.com"},"image":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/antworksmoney\/","https:\/\/twitter.com\/AntworksMoney","https:\/\/www.linkedin.com\/company\/13288601\/","https:\/\/in.pinterest.com\/antworksmoney"]}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/pages\/8117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/comments?post=8117"}],"version-history":[{"count":1,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/pages\/8117\/revisions"}],"predecessor-version":[{"id":8118,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/pages\/8117\/revisions\/8118"}],"wp:attachment":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/media?parent=8117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}