SBI Life Insurance has launched Smart Shield Plus, a flexible term life plan built to evolve with a policyholder’s changing financial needs. The plan offers an increasing cover option to fight inflation, a whole-life protection variant, and optional add-ons for broader protection.
| Product | Smart Shield Plus (Individual, non-linked, non-participating, pure risk) |
|---|---|
| Core options | 1) Level Cover 2) Increasing Cover 3) Level Cover with Future-Proofing Benefit |
| Whole-life | Coverage up to **age 100** (if whole-life is chosen); other options typically up to age 79 |
| Optional add-ons | “Better Half” benefit for spouse cover (if opted), Accident Benefit Rider (ADB/APPD) |
| How to buy | Online, web aggregators, agents/brokers/IMFs, SBI Life partners |
What’s new / key features
- Three cover styles:
- Increasing Cover: Sum assured can step up annually (simple rate) to counter rising expenses and liabilities.
- Level Cover: Sum assured stays constant through the term.
- Level Cover + Future-Proofing: Lets you raise cover at life events such as marriage, childbirth, or a home loan (T&Cs apply).
- Whole-life protection: Option to extend life cover up to age 100, useful for legacy planning or late-career earners.
- Optional protection layers:
- Better Half Benefit—on the life assured’s death, a built-in term cover for the spouse (only if chosen at inception).
- Accident Benefit Rider (ADB/APPD)—financial protection for accidental death/accidental permanent disability.
- Digital journey: Online premium quotes, e-KYC, and paperless servicing/claims tracking across channels.
Who should consider it?
- Home-loan borrowers / rising liabilities: The Increasing Cover variant helps keep protection aligned with EMIs and inflation.
- Young families / new parents: Future-Proofing eases cover upgrades at key life milestones.
- Long-horizon planners: The whole-life option supports legacy/estate planning and later-age dependents.
- Couples: Better Half can secure the spouse’s term cover within one policy (if opted).
What to compare before you buy
- Cover growth rules: Check the annual step-up rate and maximum increase cap under Increasing Cover; match it to income and loan growth.
- Whole-life vs standard term: Weigh premium difference versus your need for very long-duration cover.
- Rider limits & exclusions: Review sums assured, waiting periods, and exclusions for accident/disablement benefits.
- Future-Proofing conditions: Confirm which life events qualify, documentation needed, and any medical underwriting on top-ups.
How to purchase (simple path)
- Use SBI Life’s site or a trusted aggregator to compare options and run a premium estimate.
- Choose cover type (Level/Increasing/Level+Future-Proofing), decide on whole-life if needed.
- Add riders (if suitable), complete e-KYC and proposal form, then pay online.
- Keep soft copies of the policy bond and rider wordings for your records.
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