SBI Life eShield Review

SBI Life eShield

SBI Life eShield is a non-participating, non-linked term plan. This offers the best option of purchasing this insurance plan online.   This term plan has benefits and options tailored specially for people who wish for the affordable cost life insurance with best financial protection. This insurance plan offers rewards to enjoy accidental death benefits and to lead a healthy life. It offers financial security to the family and offers a life cover of 1 crore.

Key Features

  •  Affordable premium and complete security for the entire family.
  • Easy online process as online term plan
  • Rewards to enjoy a healthy lifestyle
  • 4 plan options, but no bonus facility
  • Accidental death benefits option may be chosen at the inception of policy
  • Sum assured increases after every 5th policy year by 10%
  • Non-smoker benefits at a premium discount is available in this plan
  • Tax benefits of 80C and 10D

 Check one more child plan-Child insurance plans- SBI Life – Smart Scholar

Principle of working

 SBI Life eShield features as SBI life insurance online term plan. This provides attractive premiums at high insurance covers and is a pure risk cover plan.  In this plan, the premium is expected to be paid for the policy tenure at policy inception. It includes 4 variants such as:

  • Level Cover– The sum assured is the sum assured at policy inception.
  • Level Cover offering accidental death benefit– The sum assured is the basic sum assured that you chose at Policy Inception. This sbi life online policy has an advantage of inbuilt rider  of accidental death benefit where there will be an additional death benefit  offered if there is an accident. It will be paid s equal to the Assured Basic Sum or Rs 50 lakhs that is lower.
  • Increasing Cover- The assured sum here is the Basic Sum Assured and this increases after 5th policy year by simple interest @ 10% without any increase in premium.
  • Increasing Cover with accidental death benefit– The sum assured in this plan is the Basic Sum Assured and after every 5th year it increases by 10% simple interest without any increase in premium. It also enjoys Accidental Death Benefit as an inbuilt rider and this is paid equaling the Basic Sum Assured or Rs 50 lakhs, anything that is lower.

This is a pure term plan featuring sbi online payment and there are no surrender benefits or maturity benefits in this plan.

One more child plan to check out- Child insurance – SBI Life Smart Scholar Plan

Benefits Received

  • Death Benefit: In situations where the life insured dies within the tenure of policy, the death benefit is that the nominee acquires effective sum assured. The effective death benefits is based on the chosen plan option:

Effective Sum Assured = Assured Basic Sum for Level Cover options

Effective Sum Assured = Assured Sum that increases every 5th policy year by 10%.

  • Maturity Benefit – This is a pure term plan, and enjoys no Maturity Benefits.
  • Income Tax Benefit – Premium  paid up to Rs. 1,00,000 enjoys a deduction from the taxable income under section 80C each year and the Maturity Proceeds under section 10(10)D are tax free.
How to Buy SBI Life eShield

SBILife E-Shield review states that this is a term plan and is best understood on visiting their website as the initial step. It is an online term plan and so buying it offline is impossible.  Clicking on the button ‘BUY NOW’ will bring you to a screen requesting you to fill your personal information. Filling up personal, medical details and making payment completes the process.

The eligibility for this sbi life insurance premium payment age minimum is 18 years and maximum is 60 years. The policy term is for 10 -30 years, where the minimum sum assured is Rs.20,00,000 and the maximum has no limit, while yearly minimum premium is Rs.3500.

What happens?

You are unable to pay the premium- the benefits cease and the policy lapses. It can be revived in 3 years time from the policy inception time.  However, a 30 days grace period is allowed after the premium due date.

In case, you are not convinced, you can cancel this policy in 30 days on receiving the documents of the policy. In such cases, your premium will be returned deducting the stamp duty and proportionate premium for the premium for the risk covered for that period.


In case the life assured commits suicide from the risk commencement date, the nominee is entitled to 80% premiums paid. If the same happens within one year from the reinstatement date, it is termed void as per term plan SBI Life eShield.



Insurancebash  isn’t affiliated with any insurance company. We are simply sharing our opinions and review about the said products. We don’t take any responsibility if you buy these insurance policies.

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