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‘SBI Life eShield Next’-- SBI Life Insurance

Published on August 19, 2021
Current Context: SBI Life Insurance has launched a new life insurance solution named 'SBI Life eShield Next'.
‘SBI Life eShield Next’-- SBI Life Insurance
  • 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’
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