SBI Life - Smart Shield Plan

• Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
• Claim up to Rs. 1,50,000 deduction under section 80C**
• Choose between annual and monthly premium payment options

The SBI Smart Shield Plan is a traditional non-participating pure term plan by SBI. With this particular insurance solution, you can easily plan for any unforeseen circumstance. The SBI Smart Shield Plan is designed to meet all your insurance needs and offers great financial protection and support to your loved ones. The benefits and options that can be availed with the SBI Smart Shield Plan are tailored to offer you top class financial protection at a cost that is affordable for you. In case you are not around, the plan ensures to watch over the ones you care for.

Eligibility – Who is the SBI Smart Shield Plan for?

In order to buy the SBI Smart Shield Plan, a customer has to fulfil certain eligibility criteria with respect to his/her age and the amount of insurance he/she seeks. These conditions are as shown below:

Sum Assured and Premium Range – What you get and what it costs?

Sum Assured – It is the amount that is paid out to the nominee or family of the insured individual in the event of the assured's unfortunate demise, critical illness or permanent disability. The minimum sum assured in case of the SBI Smart Shield Plan is Rs.25,00,000. There is no limit on the maximum sum insured.

Premium - Premium is the amount that you pay at one go or at regular intervals to keep your policy running. Premiums may vary depending upon factors like location, term of the plan, age, etc. The minimum term of the SBI Smart Shield Plan is 5 years. The maximum term of the policy is 30 years. For Increasing Term Assurance and Level Term Assurance, the premium payment modes that can be availed are monthly, quarterly, half yearly, annually or single. However, for Decreasing Term Insurance (Family Income Protection) and Decreasing Term Insurance (Loan Protection), only single premium payment mode can be availed.

Disclaimer – Premiums may vary depending upon factors like location, term of the plan, age, etc.

Plan Coverage – What the SBI Smart Shield Plan covers?

The SBI Smart Shield Plan is tailored to meet your insurance needs. The key highlights of the SBI Smart Shield Plan are mentioned below:

• The plan rewards the insured for maintaining a good and healthy lifestyle.
• The assured sum is substantially large and the assured rebates decreases the cost of insurance.
• There are different plan options to choose from. These options offer freedom from different liabilities.

Illnesses covered under the SBI Smart Shield Plan:

• Multiple Sclerosis.
• Motor Neuron Disease.
• Coma.
• Surgery of Aorta.
• Stroke
• Paralysis.
• Major Organ Transplant.
• Major Burns.
• Kidney Failure.
• Heart Valve Surgery.
• Heart Attack.
• Coronary Artery Bypass Surgery.
• Cancer.

Riders/Add-on plans - Additional coverage under the SBI Smart Shield Plan?

The riders available with the SBI Smart Shield Plan are as follows:

• ADB (Accidental Death Benefit) Rider.
• (ATPD) Accidental Total and Permanent Disability Benefit Rider.

Exclusions – What the SBI Smart Shield Plan does not cover?

Suicide Exclusion – In case the life assured commits suicide, whether insane or sane, within a period of one year from the from the date of commencement of the policy or date of revival of the policy, 90% of the premium will be paid for the policies that come with single premiums.

Rider exclusions include the following:

• Physical Infirmity.
• Hazardous sports or pastimes.
• Aviation.
• Nuclear contamination.
• Civil commotion and war.
• Criminal acts.
• Drug abuse.
• Self-inflicted injury.
• Infection.

Accelerated Critical Illness Exclusions:

• Physical Infirmity.
• Hazardous sports or pastimes.
• Aviation.
• Nuclear contamination.
• Civil commotion and war.
• Criminal acts.
• Drug abuse.
• Self-inflicted injury.

• Infection.
• Diseases in presence of HIV infection.
• Diseases that previously occurred in the assured individual.
• Any disease that happens within a period of 90 days from the date of commencement of the SBI Smart Shield Plan.

Other Key Features of SBI Smart Shield Plan:

Tax Benefits – How you can save with the SBI Smart Shield Plan?

Along with all the attractive benefits and features, the SBI Smart Shield Plan also offers Tax Benefits. These benefits are mentioned below:

• Benefits under Section 80C of IT Act, 1961 on premium.
• Benefits under Section 10(10D) of the It Act, 1961 on death proceeds under this policy.
• Benefits under Section 80D for premium that are paid for cover of Accelerated Critical Illness.

Why you should buy the SBI Smart Shield Plan from SBI?

SBI Life Insurance is one of the top financial institutions in India that offers amazing products and services. The insurance solution provided by SBI come with immense flexibility and innovation. The SBI Smart Shield Plan is designed to meet all your insurance needs and offers great financial protection and support to your loved ones. The benefits and options that can be availed with the SBI Smart Shield Plan are tailored to offer you top class financial protection at a cost that is affordable for you.