SBI Life eShield Term Plan is a term insurance plan offered by the insurance company SBI Life. Using a term insurance plan, you can get a large cover, for a very nominal premium (almost 1000X). This makes it one of the most cost-efficient and essential products for your financial portfolio if you have dependents who rely on your income for their expenses. Should your death happen during the term of the policy, your nominee will be paid the Sum Assured (or the cover amount), which can then be used to meet any financial needs your family would have.
This plan is considerably expensive in comparison to other products in the market. And, it doesn’t allow you to choose some important customizations such as critical illness coverage or early exit option. It also doesn't provide many options to speed up your premium payment with limited pay. You can, however, opt for increasing cover and customize how your family receives the claim amount, with several options for claim payouts. Further, as per our research, the insurer has received fewer claim settlement and policy purchase complaints, but, has a poor track record of settling claims faster.
SBI Life is a Life Insurance company in India. It offers Term Life Insurance, Traditional Savings and Unit Linked Insurance Plans. Founded in 2001, it is a joint venture between SBI Bank and BNP Paribas Cardif. The company is headquartered in Mumbai and has 947 branches across the country. The CEO of SBI Life is Mahesh Kumar Sharma
SBI Life eShield Next Plan is a term insurance plan offered by the insurance company SBI Life.
If you’re looking for an insurance company that will offer great service during both the purchase phase and the claims phase - SBI Life is a good choice for you. It provides a smooth and seamless process when your family receives the claim settlement amount. While this product might fit perfectly for your family’s needs, you must keep in mind that it is comparatively more expensive than other products and it does not allow you to choose customizations such as increasing cover, claim payout, and critical illness rider.
Here is Beshak's SBI Life eShield Next Term Plan Review -
The SBI Life eShield Next Term Insurance Plan provides just one additional benefit, which you can consider buying, based on your needs.
The plan only offers an Accidental Death Benefit Rider, which will provide your family with an additional sum of money in case you die due to an accident. You can also use this rider to improve your overall cover. There’s usually an income-related limit on the amount of term insurance cover you can buy. So if you’re not able to buy the desirable term insurance cover, you can consider buying the accidental death benefit rider along with your term insurance cover.
On the flip side, this plan does not offer a Critical Illness Rider or Waiver of Premium rider like other term insurance products in the market.
Here’s a review of the claim experience of SBI Life, based on our in-house research and analysis.
When we make important decisions for our family to secure them and their future, we should always consider both the positive and negative aspects. Here are some cons you should be wary of while choosing this term insurance plan from SBI Life:
While we also analyze the length of the claim form to understand if the claims process is smooth or not - this insurer has not made their claim form available online - so we couldn’t analyze it. This also means that you might need to visit their branch office or go through your financial advisor to even get the claims form.
SBI Life is a Life Insurance company in India. It offers Term Life Insurance, Traditional Savings, and Unit Linked Insurance Plans. Founded in 2001, it is a joint venture between SBI Bank and BNP Paribas Cardif. The company is headquartered in Mumbai and has 947 branches across the country. The CEO of SBI Life is Mahesh Kumar Sharma.
On the basis of the 100+ parameters analyzed by our in-house research team and after considering the product benefits, customer service, and claims experience, SBI Life eShield Next Term Plan gets a Beshak⭐Rating of 2.6/5.