at the conclusion of every fifth year of the policy, the total amount insured on death rises by 10% per annum (simple) of the basic amount assured.
Choice 3: Level Cover with Future-Proofing Benefit: With this option, policyholders may raise their coverage without having to undergo any medical exams when they reach significant life milestones like marriage, becoming a parent, or purchasing a home. On the occurrence of any such relevant events, the client has the option to exercise any of the amount assured increments available under the option.
Customers can select any of these choices while purchasing the coverage, depending on their insurance needs. SBI Life eShield Next also provides a variety of options. It offers premium payment options such as one-time payment, regular payment, or a limited time payment. The limited period might be anything from five to twenty-five years, with the option of paying for a period of policy term minus five years. It also has a life cover option of up to 100 years or 85 years.
Mr. Ravi Krishnamurthy, President of SBI Life Insurance, spoke about the new plan eShield Next. He said, ”…our term insurance should be able to “Level Up’, just like us. And SBI Life eShield Next does exactly that. It is a financial protection solution that protects one’s present as well as future needs in the current fast-paced and uncertain times that we live in”. Mr Krishnamurthy added, “SBI Life eShield Next, with its three plan options, offers a distinctive customization feature that caters to the evolving needs of the consumer”.
