SBI Term Insurance
One of the most trusted life insurance companies was incorporated in October 2000. SBI Term Plans are designed to ...Read More
The headline features and policy mechanics, at a glance.
Affordable premium options starting from entry-level to comprehensive whole-life protection.
Industry-leading approval rate on eligible term insurance claims in the most recent fiscal year.
Well above IRDAI's 1.5× floor — strong indicator of long-term claim-paying ability.
Choose from level cover, increasing cover, and return-of-premium variants.
Extend a base policy with add-on covers — critical illness, accidental death, waiver of premium and more.
Branch offices and claim service centres across India for easy policy servicing.
SBI Life Insurance is one of the best life insurance companies, offering a range of life insurance products, including term plans, savings plans, child plans, ULIPs, retirement plans, etc. They are committed to offering the best experiences and services to its customers.
SBI Term Plans offer financial coverage to your dependents in case of your unfortunate demise during the policy tenure. SBI term insurance plans come in different variations to meet the unique needs of every customer. These plans come with a range of features, including flexible policy tenure, choice of premium payment, better half protection, whole life coverage option, etc. Term plans by SBI can be bought online from the comfort of your home. You can choose a high sum assured for your family at nominal premiums and get high sum assured discounts too.
What are the key features of this plan?
Affordable premiums,
A wide range of plans to choose from,
Financial protection for your loved ones,
Choice of sum assured,
Choice of payment frequency,
Tax benefits as per applicable laws,
Varied plan options, etc.
Choice of policy tenure and premium tenure,
Every plan currently being sold by SBI Term Insurance, shown side-by-side so you can shortlist quickly.
SBI Life Smart Shield Plus Plan is one of the best term insurance plans that offer financial protection to your loved ones during the policy term. Thi...
SBI Saral Swadhan Plus is an individual, non-linked, non-participating life insurance plan that gives you a fixed life cover throughout the policy ter...
SBI Saral Jeevan Bima is a non-linked and non-participating life insurance premium product. It is suitable for people who want a pure protection cover...
SBI Term Insurance company offers a comprehensive term insurance plan called SBI Life Smart Swadhan Plus policy, which aims at fulfilling the future f...
SBI Life - Poorna Suraksha is an Individual, Non-Linked, Non-Participating Life Insurance, Pure Risk Premium Product with in-built Critical Illness co...
SBI Life Grameen Bima Yojana is a simple, hassle-free microinsurance plan that provides financial security for your dependents after your absence.Acco...
SBI Life eShield Next, launched by SBI Life is a new age term insurance plan that enables you to take care of your current requirements and your chang...
SBI Life - eShield is an online term insurance plan that is designed for tech-savvy, educated, high-net-worth individuals interested in buying a pure ...
SBI Smart Shield is a new age term insurance plan that offers pure protection, increasing life cover, 2 rider benefits, and tax benefits. It offers an...
"SBI Saral Awadhan Supreme returns all the paid premiums back upon completion of the policy term" Several term insurance plans provide insurance cover...
Usually, a term plan provides financial security to your loved ones in return for the premium you have paid during the policy term. But once in a whil...
SBI Life Arogya Shield is a health-plus life combination plan from SBI General Insurance and SBI Life Insurance that offers health and pure term life ...
In an unpredictable world safeguarding yourself and your family's future against any serious disease or forbidden threat of critical illness, such as ...
Side-by-side across the 3 most-bought SBI Term Insurance plans on PolicyX.
| Feature | SBI Smart Shield Plus | SBI Life Saral Swadhan Plus Plan | SBI Saral Jeevan Bima |
|---|---|---|---|
| Plan type | Term Plan | Term Plan | Term Plan |
| Sum assured | Base sum assured- Rs 25 lakhs to No limit | Basic Sum Assured: ₹30K to ₹4.75L | Basic Sum Assured: ₹5L to ₹25L |
| Entry age | Minimum Age - 18 years Maximum Age - 45 years | Minimum Age - 18 years Maximum Age - 55 years | Minimum Age - 18 years Maximum Age - 65 years |
| Top benefits | Choice of Plan Variant · Cover Continuance Benefit | Death Benefit · Maturity Benefit | Simple Term Plan · Affordable Premiums |
The standard inclusions and exclusions across SBI Term Insurance plans. Specific plans may add benefits — always check the policy wording before purchase.
Enhance your term plan with optional add-on riders for broader protection.
SBI Life Accidental Death Benefit Rider
An accidental death benefit rider provides an additional sum assured if the policyholder dies within 120 days due to an accident.
SBI Life Accidental Total and Permanent Disability Rider
The accidental total and permanent disability rider offers the rider sum assured if the policyholder suffers from total and permanent disability due to an accident.
SBI Term Insurance is one of the most trustworthy and reliable insurer partners. Here are the reasons why you should choose SBI Term Insurance Plans:
01
SBI term insurance plans offer death benefits to the nominee in case of the policyholder’s demise during the policy term. The death benefit offered by SBI term insurance plans can be used by the nominee for various purposes, such as paying for liabilities, child education, and marriage.
02
SBI term insurance plans provide multiple options to customers to choose coverage as per their requirements. There are various coverage options available, including Rs 25 lakhs, Rs 50 lakhs, Rs 1 crore, and even more.
03
SBI term insurance plans offer large coverage at affordable premiums so that every individual can secure their family financially in tough times. The premiums for 1 crore SBI term policy starts at just Rs 752/- per month.
04
Riders enhance the coverage of term insurance plans. SBI term insurance offers a range of rider benefits for policyholders to choose from, including an accidental death benefit rider, a total and permanent disability rider, etc.
05
SBI Life Insurance has one of the largest branch networks of 1086 branches across India. The customers can avail support by visiting any of their branch offices.
06
Claim Settlement Ratio is the metric that helps measure the number of claims settled in one financial year. SBI Life Insurance has one of the highest claim settlement ratios of 99.40%, which is almost the best in the market.
For policy purchase and claim submission. Have these ready before you start.
To purchase an SBI term insurance plan in 2025, certain eligibility criteria must be met. Let's understand the eligibility criteria in detail.
Age: A person between the ages of 18 and 65 is eligible to apply for a term life insurance plan. The policyholder’s age is a key factor in the term insurance plan’s premium.
Health condition: Since an SBI term insurance plan insures the policyholder’s life, most insurance providers require a policyholder to undergo a health examination to determine the current health condition and the inherent risks for the insurer. Be completely honest about your health condition and medical history to avoid issues during claim settlement.
Income: An SBI term insurance plan has no specified minimum income requirement. However, they might ask you for your bank statement copies and salary slips to determine the coverage on your term plan.
Smoking habits: If you smoke or have been a smoker in the past, you must disclose this information to the insurer. It is because smokers are exposed to severe health hazards like lung cancer.
Citizenship: Indian citizens can buy an SBI term insurance plan in India in their name. However, NRIs or PIOs can also leverage the benefits of a term insurance plan in India.
SBI life term insurance plans offer various additional benefits to the policyholders.
The policyholders have the flexibility to choose the policy tenure with SBI term plans that best aligns with their individual needs.
SBI term insurance policies offer discounts on choosing a high sum assured. You can choose a sum assured that best aligns with your needs.
You have the flexibility to choose a premium payment option of your choice with SBI term plans. There are various premium options available, including single premium, monthly, quarterly, or yearly installments.
Some SBI term plans allow you to cover your spouse under the same plan and save on the premium amount.
SBI term plans offer two premium break options to policyholders that allow them to skip their premium in case of tough times like job change, hospitalization, without negotiating with insurer. The coverage remains active during this tenure.
There are various SBI life-term plans based on their features, policy tenure, benefits, etc. You can choose the one that best suits your requirements.
These plans only provide a sum assured to the nominee in case of the death of the policyholder. No survival benefits are included.
These plans give the premium amount back to the policyholders only if they survive the policy term.
These plans offer monthly income to the policyholder’s dependents in case of the policyholder’s demise.
These plans offer inbuilt coverage against critical illnesses.
These plans offer inbuilt coverage against accident disability and death cover.
Step-by-step guides for the four key moments in your policy lifecycle. Click a tab to switch.
To raise an SBI term insurance claim, one has to follow three simple steps, as discussed below:
Don't just take our word for it — check out what our happy customers say about us!
All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.
Ravindra SinghI highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.
Priti VarshneyI'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.
Nisha MaryI bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.
Ajay ShahPolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.
Vijay RathodI purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.
Uma MahajanThe 14 most-asked questions about SBI Term Insurance, answered.
Aggregate ratings from 941 verified PolicyX customers who bought a SBI Term Insurance plan.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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