Buy a term insurance plan? 5 reasons to choose SBI Life – eShield Next

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Buy a term insurance plan? 5 reasons to choose SBI Life – eShield Next

New Delhi: SBI Life Insurance has withdrawn its existing term policy – eShield – and replaced it with eShield Next. It is a pure, untied, non-participating individual life insurance risk premium product that works by “leveling” the required insurance protection through an increase in the sum insured linked to “milestones.” important upgrades in life, such as getting married, becoming a parent, or buying a new home.

It offers three plan options: level coverage, escalating coverage, and level coverage with long-term guarantee. Each was designed to meet the changing needs of consumers, he said. The plan option, once chosen at the start, cannot be changed during the term of the contract.

The old eShield coverage offered only one option with an unchanging guaranteed amount. Now eShield Next not only offers this option (which it calls level coverage), but also gives you options to increase your sum insured as you get older.

Main characteristics of SBI Life “eShield Next”

  • To meet different protection needs, there are three plan options: Level Coverage, Growing Coverage, and Level Coverage with Scalable Guarantee.
  • Life insurance coverage up to 100 years (whole life) or 85 years (partial life) (other than whole life).
  • A plan that can be personalized to suit specific needs: thanks to the Best Half option and the terms of payment of death benefits
  • Pay a premium when it’s convenient for you: once, for a limited time or for the duration of the policy.
  • Additional coverage by runners.

Option 1: In the case of Level Cover Benefit, the absolute insured amount remains constant throughout the duration of the policy.

Option 2: For the Increasing Coverage Guarantee, the absolute amount insured at death would increase by 10% per year (simple) of the basic insured capital at the end of each 5th insurance year, subject to a maximum increase of 100% of the capital. basic insured.

Option 3: Level Cover with Future-Proofing Benefit allows you to increase your coverage as you move through critical life milestones, such as getting married, becoming a parent, or buying a home without undergoing further medical tests.

5 reasons to choose SBI Life – eShield Next

  • Security – To ensure the financial security of your family.
  • Flexibility – Three package options to choose from
  • Simplicity – Use optional benefits to customize your plan.
  • Affordability – You have the flexibility to pay a premium as you wish.
  • Reliability – Lifetime coverage up to 100 years (full life) or 85 years (partial life) (other than whole life)


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