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SBI Term Insurance Plans

51 reviews Rate This
Claim Settlement Ratio93.09%
Customer Care9:00 AM to 9:00 PM
Death Benefit Paid For212,57 Policies
Presence825 offices
Total Death Benefit Paid810.71 Crore

Term Life Insurance Premium Calculator


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Choose required coverage to secure your family’s future

Disclaimer :
1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Best SBI Term Insurance Plans

1 Crore
2 Crore
    Tax Free
    1 Cr
Starting From 707/Month
24hr Claim Settlement
Key Features:
  • Zero Cost Benefit
  • Terminal Illness
  • Nominee's Choice payout
  • Voluntary Top Up
  • Tax Benefits
    Tax Free
    1 Cr
Starting From 857/Month
24hr Claim Settlement
Key Features:
  • Waiver of Premium on Disability
  • Terminal Illness
  • Life Stage Benefit
  • Tax Benefits
    Tax Free
    1 Cr
Starting From 771/Month
24hr Claim Settlement
Key Features:
  • Tax Benefits
  • Terminal illness
See More Plans

SBI Life Term Insurance Plans are affordable life insurance solutions. The policyholders can compare different term insurance plans and buy the one that best suits their financial needs.

Here’s a list of term life insurance plans offered by SBI Life:

Plan Name

Entry Age

Policy Tenure

Premium Payment Term

SBI Life Arogya Shield

18-65 years

5-40 years


SBI Life- eShield Next

18- 65 years

5 years- 100 minus entry age

Single, regular, and limited

SBI Life Saral Jeevan Bima

8- 65 years

5-40 years

Single, regular, and limited

SBI Life Smart Shield

18- 60 years

5- 80 years

Single and regular

SBI Life Grameen Bima

18-50 years

5 years


SBI Life Arogya Shield

It is a pure protection plan that provides dual benefits to policyholders. This SBI Term Insurance Plan provides both health insurance and life coverage under a single plan. The key features of the SBI Life Arogya Shield plan are highlighted below:

  • Get a 5% extra discount on the premium paid against the policy
  • Pay a single premium for both health and life coverage
  • Avail of cashless claim facility for health coverage
  • Get life coverage up to Rs. 25,00,000 sum assured.

SBI Life- eShield Next

Unfortunate events like the demise of the breadwinner of the family can create a financial contingency for the other family members. Therefore, this SBI Life term insurance plan enables the policyholders to secure the financial needs of their families. The key features of SBI Life- eShield Next Plan is highlighted below:

  • It is available in 3 variants- level cover, increasing cover, and level cover with future
  • Customise the term insurance plan as per your specific needs
  • Enhance the coverage of your plan by including 2 riders
  • Get life coverage up to 100 years in whole life insurance

SBI Life Saral Jeevan Bima

It is an individual, non-linked, and non-participating term insurance plan. It is an ideal SBI Life Term Policy for those who are looking for a pure protection plan and investing first time in any life insurance product. The key features of SBI Life Saral Jeevan Bima are highlighted below:

  • Secure the future of your family at an affordable cost
  • Get tax benefits prevailing as per the Income Tax Act 1961
  • Option to surrender the policy in a free look period of 15 days starting from the purchase of the policy.
  • Get coverage for accidental death after the waiting period of 45 days.

SBI Life Smart Shield

Planning for the future is an important task we perform since childhood. In adulthood, the most important task is to plan the future of our loved ones and secure them financially against unfortunate events. SBI Life Smart Shield term insurance plan comes in handy to help you financially protect your family. The key features of the plan are highlighted below:

  • Provides lifetime financial protection at an affordable premium
  • Get discounts on purchasing a term plan with a high sum assured
  • Enjoy rewards for maintaining a healthy lifestyle
  • Enhance your term insurance plan coverage by purchasing riders.

SBI Life Grameen Bima

It is an individual, non-linked, and non-participating pure risk premium life insurance plan. The plan provides life coverage to the policyholders in exchange for a one-time premium payment. The key features of the SBI Life Grameen Bima plan are highlighted below:

  • Surrender benefit applicable after the completion of the first year of the policy
  • The death benefit is paid in a lump sum to the beneficiary in case of the policyholder's demise
  • The policyholders may not have to undergo any medical examination
  • Get tax benefits as per the norms of the Income Tax Act, 1961

SBI Term Insurance User Reviews

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What users are saying
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  • I was impressed with the comprehensive coverage options available through InsuranceDekho's SBI Life Term Insur...

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    By Chetna Adhikari
    On: Sep 27, 2023
  • InsuranceDekho’s customer support team is undoubtedly knowledgeable and they are always ready to assist ...

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    By Lovely Sharma
    On: Sep 14, 2023
  • InsuranceDekho keeps policyholders informed with regular updates on policy performance and account statements....

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    By Badal Bahadur
    On: Sep 11, 2023
  • I wanted to purchase a good-term insurance plan without exceeding my set budget. While looking for one I lande...

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    By Nitu Srivastav
    On: Sep 01, 2023
  • It is very easy to compare term insurance plans on InsuranceDekho’s website using the online term insura...

    Read More
    By Poonam Arora
    On: Aug 28, 2023
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SBI Term Insurance Contact Details

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Claim Process at SBI Term Insurance

  • 1

    Claim Intimation

    In the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
  • 2

    Submission of Documents

    Claim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
  • 3

    Claim Evaluation

    Once the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.

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FAQ About SBI Term Insurance

  • What is a Term Insurance Plan?

    A Term Insurance plan is a pure life insurance policy. It provides financial security to your family or loved ones in case of the unfortunate demise of the policyholder. You get higher cover at a lower premium rate.

  • Do SBI Life Term Insurance plans offer Tax Exemptions?

    Yes, SBI Life Term Insurance offers tax exemptions under section 80C, section 80D, and section 10(10D) of the taxation law subject to terms and conditions.

  • What is the right time to buy a SBI Life Term Insurance plan?

    The right time to buy the SBI Life Term Insurance plan is as early as possible. With the increasing age, the higher would be the term plan premium. The minimum age you can purchase a SBI Life Term Insurance plan is 18 years.

  • What are the different factors that will affect my SBI Life Term insurance premiums?

    Your SBI Life term insurance premium amount will be based on your Gender, Age, Occupation, Pre-Existing disease, and Cover-up to which age.

  • How will my Age affect my SBI Life term insurance premium?

    Age is an important factor in deciding the premium. As the age increases, and so is the term insurance premium.

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