- It is an individual, non-linked, non-participating life insurance solution. The policy is not linked to the stock market and does not share profit or dividends with the policyholders.
- The 'SBI Life eShield Next' executes by increasing the required insurance protection by increasing the sum assured linked to the significant level-up milestones in one's life.
- The protection coverage under the policy improves during major life events like getting married, becoming a parent, buying a new house.
- The policy is based on 3 plans namely, level cover, increasing cover and level cover with future-proofing benefits.
- Level Cover: In this, the absolute amount assured will stay constant entire the policy term.
- Increasing Cover Benefit: In this, the absolute amount assured on death will increase by 10% p.a. (simple) of the basic sum assured at the end of every 5th policy year, subject to a maximum increase of up to 100% of the basic sum assured.
- Level Cover with Future-Proofing Benefits: It allows to increase cover when attaining life's essential milestones like getting married or becoming a parent or buying a house.
- The customer can pay the premium with either of the options of single, monthly, half-yearly and yearly.
- The minimum tenure of the policy is 5 years.
- The policy offers a life cover of 100 years (whole life) or 85 years (other than whole life) and has various benefits like death benefit, terminal illness benefit etc.
- Static Part:
- HQ of SBI Life Insurance: Mumbai
- MD and CEO of SBI Life Insurance: Mahesh Kumar Sharma
Question:
Q.1 What is the name of a new life insurance solution launched by SBI Life Insurance?
a. ‘SBI Life Cover’
b. 'SBI Life eShield Next'
c. ‘SBI Life eCover’
d. ‘SBI Life Shield Up’
a. ‘SBI Life Cover’
b. 'SBI Life eShield Next'
c. ‘SBI Life eCover’
d. ‘SBI Life Shield Up’
