SBI Life Saral Shield Plan



SBI Life – Saral Shield is a traditional non-participating pure term plan, At a affordable cost, Saral Shield provides cover for your family and ensures that a proper safety net is created. Thus, it guarantees that there will be absolutely no compromise on your dreams and ambitions for your loved ones, at all times.Isn’t it great? So, get the Shield advantage now!!

 Key Features:

Hassle-free, convenient and easy issuance.
Financial Security.
Wide varieties of plan options to give you freedom from your liabilities.
Large sum assured rebates.
Enhance your protection by availing two riders- Accidental Death Benefit Rider and Accidental Total and Permanent Disability Rider.
Tax benefits as per prevailing norms under the Income Tax Act, 1961.

Product Snapshot:

Age at Entry Min: 18  years Max: 60 years
Age at Maturity Max: 65 years
Plan Options Level Term Assurance
Decreasing Term Assurance (Loan Protection)
Decreasing Term Assurance (Family Income Protection)
Sum Assured(x 50,000/-) Min: Rs. 7,50,000  Max: Rs. 24,00,000
Policy Term Min: 5  years
For Level Term Assurance and Decreasing Term Assurance(Family Income Protection) – 30 years
For Decreasing Term Assurance (Loan Protection) – Equal to the outstanding loan term subject to maximum of 30 years
Premium Paying Term Same as policy term
Premium Modes For Level Term Assurance:
Single Premium (SP), or  Regular Premium(RP) (Yearly / Half-yearly / Quarterly / Monthly**)
For Decreasing Term Insurance (Loan Protection) & DecreasingTerm Insurance (Family Income Protection) : Single Premium
Min Premium Amounts Regular Premium:
Yearly          Rs. 2,000/-
Half-yearly  Rs. 1,100/-
Quarterly     Rs.    600/-
Monthly       Rs.    250/-Single Premium:
Rs. 10,000/-
All the references to age are age as on last birthday.** For monthly mode, 3 months premium to be paid in advance and renewal premium payment is allowed only through ECS, Credit card, Direct debit and SI-EFT

Instant Premium Reckoner##

Age of
Life Assured
For SA –  Rs. 10 Lakhs  For SA –  Rs. 20 Lakhs
Policy Term (in years)/ Premium (in Rs) Policy Term (in years)/ Premium (in Rs)
10 15 20 25 10 15 20 25
25 2,052 2,052 2,188 2,413 3,442 3,442 3,713 4,163
30 2,197 2,409 2,711 3,132 3,731 4,157 4,759 5,602
35 2,778 3,204 3,775 4,459 4,893 5,745 6,888 8,255
40 3,726 4,483 5,350 6,379 6,791 8,304 10,038 12,096
45 5,421 6,556 7,866 NA 10,179 12,449 15,070 NA
Note: ## The above annual level term assurance premiums are for a standard, healthy male life and are inclusive of service tax as well as high sum assured rebate, wherever applicable.

Tax Benefits

Tax deduction under Section 80(C) is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured.
Tax exemption under Section 10(10D) is available, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy.
Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details..
SA: Policy Sum Assured.   NA: Not Available for this combination.For more details on risk factors, terms and conditions please read sales brochure carefully before conducting a sale. SBI Life – Accidental Death Benefit Rider (UIN: 111B015V01), SBI Life – Accidental Total & Permanent Disability Rider (UIN: 111B016V01).


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