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SBI Life - eShield Next; Key Features Of Next Level Term Policy Online

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SBI Life Insurance has announced the unveiling of 'SBI Life eShield Next,' a revolutionary new age protection solution that 'levels up' the protection coverage when the insured reaches important life milestones.

 

It is a non-linked, non-participating individual life insurance pure risk premium product that works by 'leveling up' the required insurance protection through an increase in sum assured linked to significant 'level-up milestones in one's life, such as getting married, becoming a parent, or purchasing a new home.

SBI Life - eShield Next; Key Features Of Next Level Term Policy Online

Key features of SBI Life 'eShield Next'

  • To meet varying protection needs, there are three plan options: Level Cover, Increasing Cover, and Level Cover with Future-Proofing Benefit.
  • Life insurance coverage for up to 100 years (whole life) or 85 years (partial life) (other than Whole Life).
  • A plan that can be customized to fit specific needs: Through the Better Half Benefit Option and payment modalities for death benefits
  • Pay a premium whenever it is convenient for you: Only once, for a limited time, or for the duration of the policy.
  • Additional Coverage through Riders.

The 'level-up aspect of the new age protection plan eShield Next is its unique selling proposition. There are three plan options available: 'Level cover, Increasing cover, and Level Cover with Future-Proofing benefit.' Each has been carefully designed to satisfy the evolving needs of customers.

 

Option 1: Level Cover Benefit- In this case, the total amount assured remains constant throughout the policy period.

Option 2: Increasing Cover Benefit- In this case, at the end of every fifth year of the insurance, the absolute amount insured on death grows by 10% p.a. (simple) of the Basic Sum assured.

Option 3: Level Cover with Future Proofing Benefit - This option allows customers to enhance their coverage as they reach life's major milestones, including as getting married, becoming a parent, or purchasing a home, without having to pass further medical examinations.

5 Reasons to Choose SBI Life - eShield Next -

  1. Security- To ensure that your family is financially secure.
  2. Flexibility - Three plan options to choose from
  3. Simplicity - Use Optional Benefits to personalise your package.
  4. Affordability - You have the option of paying a premium at your leisure.
  5. Reliability - Lifetime coverage of up to 100 years (full life) or 85 years (partial life) (other than Whole Life)

Annually, or following major life events such as marriage, divorce, starting a family, or purchasing large assets such as a home, it's a good idea to re-evaluate and upgrade life insurance coverage. Alternatively, to answer your changing financial goals, firms may provide you the option of paying higher premiums throughout the policy term to get a plan with greater benefits without having to go through the inconveniences of obtaining and paying premiums for a new plan.

Read more about: insurance term insurance sbi
Story first published: Thursday, August 19, 2021, 18:35 [IST]
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