SBILife offers different term plans catering to differ needs which can bought online as well as offline. Term plan provides only risk cover which means that it does not return the amount of premium paid if the policy term expires and the policy holder is still alive.
The claim settlement ratio of the SBILife is high when compared to other insurer. There is no point in considering an insurer who has a poor history of claim ratio.
Here are some term plans available with SBIlife
SBI Life - eIncome Shield
SBI Life - eIncome Shield, is an online traditional, non-participating pure term insurance plan which acts as a shield that you need to protect your monthly income when you are not around.
Under eIncome Shield plan, a monthly income payout will replace a portion of your income on the unfortunate event of death of the policyholder. Further, given that your monthly income requirement will increase with time, this plan provides you with an option of annual increase in your monthly payout.
SBI Life - Smart Shield
SBI Life - Smart Shield is a traditional non-participating pure term life insurance plan, which is a one stop solution that meets all your insurance needs. Different options under the plan will give you freedom from your liabilities.
There is no maturity benefit is available under this product. In case of the unfortunate death of the policy holder during the term of the policy, the nominee will receive the benefits as per the plan.
There are three types of option
SBI Life - Accidental Death Benefit Rider
SBI Life - Accidental Total and Permanent Disability Benefit Rider
SBI Life - Criti Care 13 Non Linked Rider
SBI Life - Saral Shield
Saral Shied is a traditional non-participating pure term Insurance plan. The plan provides cover for your family and ensures that they are financially protected. There is a special premium discounts for women. Individuals can also avail rebates on large sum assured.
Individuals can enhance their protection by availing two riders-SBI Life- AccidentalDeath Benefit Rider and SBI Life- Accidental Total and Permanent Disability Rider.
SBI Life -eShield
SBILife's eShield is an individual, non linked, non participating pure term plan, with options and benefits which is designed for those who want the best financial protection at an affordable cost.
Note that death benefit will be paid provided all regular premiums are paid and the policy is in force as on the date of claim.