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SBI Life Smart Shield Plus is an individual, non-linked, non-participating pure term plan from SBI Life Insurance. It pays your nominee a death benefit if you die during the policy term, and it has no maturity benefit. The minimum sum assured is ₹25 lakh with no upper limit, subject to underwriting. Cover runs up to age 79, or up to age 100 on the whole life option. You choose one of three plan options at the start. Level Cover keeps the sum assured constant. Increasing Cover adds 5% of the sum assured every year, up to double the original amount, with a fixed premium. Level Cover with Future Proofing lets you raise your cover when you marry, have a child or buy a house, without fresh medical tests. You can pay once, for a limited term of 10 to 25 years, or throughout the policy term. Your nominee can take the benefit as a lump sum, in instalments over 5 to 20 years, or part of each. You can add the Better Half Benefit, which gives your spouse cover after your death, and the Accident Benefit Rider for accidental death and partial disability. The only exclusion is suicide in the first 12 months.
98.3% claim settlement with SBI's 22,000+ branch network — best for those who want offline support.
Finzony reads Smart Shield Plus as a flexible term plan for people whose protection needs will change over time. The three plan options are its main draw. Increasing Cover lifts your cover by 5% of the original amount each year at a fixed premium, and Future Proofing lets you raise cover by 50% at marriage, 25% for each of two children and 50% on buying a house, within set rupee caps, without new medical tests. The optional Better Half Benefit adds cover for your spouse, and the only exclusion is suicide in the first 12 months. Know the limits. This is pure protection with no maturity or survival benefit, so nothing comes back if you outlive the term. The minimum sum assured is ₹25 lakh. Future Proofing is available only on regular pay and for entry up to age 40, and each increase must be requested within 6 months and raises your premium. Increasing Cover costs more than Level Cover, its increases stop at age 71, and it needs a policy term of at least 10 years. Better Half cannot be opted out of once chosen, ends when your spouse turns 60, and pays nothing if the spouse dies first or in the same event. Regular pay policies have no surrender value, there is no paid-up value or policy loan, and the brochure lists no critical illness or waiver of premium cover. Compare the premium for your age, term and cover with other pure term plans before you buy, and read the Accident Benefit Rider terms before adding it.
SBI Life
Key Insights
Founded
2001
SBI Life was established 25 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
98.3% CSR, calculated as a 3-year average
SBI Life settles 98.3% of all claims it receives, demonstrating strong credibility.
Contact Details
1800 267 9090
Headquarters: Natraj, M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai – 400 069, Maharashtra, India
SBI Life Smart Shield Plus is an individual, non-linked, non-participating pure risk plan. If the life assured dies during the policy term while the policy is in force, the nominee receives the death benefit.
There is no maturity or survival benefit, and the policy does not share in SBI Life's profits.
Choose Level Cover Benefit, Increasing Cover Benefit or Level Cover with Future Proofing Benefit when you buy. The plan option cannot be changed during the policy term.
Premium depends on the option. In the brochure samples, Increasing Cover costs more than Level Cover at the same age and term.
The sum assured stays constant throughout the policy term.
Level Cover with Future Proofing starts the same way and lets you raise the cover later.
From the first policy anniversary, the sum assured goes up by 5% of the original sum assured every year, up to double the original amount, while the policy is in force. The increases stop at age 71, and your premium stays fixed.
Minimum policy term is 10 years. Brochure example: a ₹1 crore cover from age 30 for 30 years pays ₹1.65 crore if death occurs in the 14th policy year.
You can raise your sum assured at life stages, without fresh medical tests: marriage adds 50% (up to ₹50 lakh), the first child 25% (up to ₹25 lakh), the second child 25% (up to ₹25 lakh), and buying a house 50% (up to the home loan amount or ₹50 lakh, whichever is lower). Each increase takes effect from the next policy anniversary.
Regular pay only, entry up to 40, and attained age 45 or below at the time. Request within 6 months with documents. Marriage and house can be used once, and each increase raises your premium.
If you die while the policy is in force, a life cover starts on your spouse and continues until the spouse is 60 or the policy term ends, whichever is earlier. On the spouse's death, the nominee gets the lower of 50% of your sum assured or ₹25 lakh. No future premiums are payable after your death.
Choose at inception only, if you are married, the age gap is 10 years or less and the policy is at standard rates. The spouse can be at most 55. It cannot be opted out of or changed. Brochure example: ₹811 a year extra for a 30-year-old wife and ₹25 lakh.
Pays an additional sum assured if death is caused by an accident, on top of the base death benefit. The rider sum assured can go up to ₹2 crore, and up to three times the base sum assured.
Conditions or treatments that the policy clearly says it will not cover.
Insurer
SBI Life plans and claim process
It is an individual, non-linked, non-participating pure term plan from SBI Life Insurance. It pays your nominee a death benefit if you die during the policy term, with a sum assured from ₹25 lakh, and it has no maturity benefit.
Level Cover Benefit keeps the sum assured constant. Increasing Cover Benefit raises it by 5% of the original sum assured each year, up to double the original amount, at a fixed premium. Level Cover with Future Proofing Benefit lets you raise the cover at marriage, the birth of a child and the purchase of a house. You choose one at the start, and it cannot be changed later.
From the first policy anniversary, your sum assured grows by 5% of the original amount every year while the policy is in force, up to a total of double the original amount, and the increases stop at age 71. Your premium stays fixed. For example, with ₹1 crore for 30 years taken at age 30, death in the 14th policy year pays ₹1.65 crore. The minimum policy term is 10 years.
Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official SBI Life website before purchasing.
Official Website
sbilife.co.in
Visit the official SBI Life website for plan brochures, premium quotes and policy services.
The aforementioned ratios have been averaged over three years (FY24-FY26)
Rider UIN 111B041V01. Entry age 18 to 65, rider term up to age 75, level cover, and the rider premium cannot exceed 100% of the base premium. Not available for the spouse.
Pays a benefit if an accident causes a partial permanent disability covered by the rider. The rider sum assured can go up to ₹1.5 crore, and up to the base sum assured.
You can pick this option, the death option, or both. It can be added at inception or at a later policy anniversary during the premium payment term, and the rider document has the disability schedule.
You can raise your sum assured without fresh medical tests: 50% at marriage (up to ₹50 lakh), 25% at the birth or adoption of the first child (up to ₹25 lakh), 25% for the second child (up to ₹25 lakh), and 50% on buying a house (up to the home loan amount or ₹50 lakh). You must apply within 6 months of the event with documents, and each increase raises your premium. It is available only on regular pay, for entry up to age 40 and attained age 45 or below.
It is an optional benefit chosen at inception. If you die while the policy is in force, a life cover starts on your spouse until the spouse is 60 or the term ends, whichever is earlier, and no more premiums are due. When the spouse dies, the nominee gets the lower of 50% of your sum assured or ₹25 lakh. It is not paid if the spouse dies first, if you both die in the same event, or on the spouse's suicide within 12 months of your death.
The nominee gets the highest of 11 times the annualised premium, 105% of the premiums paid, or the sum assured including any increases. On single pay, it is the higher of 1.25 times the single premium or the sum assured. The nominee can take it as a lump sum, in instalments over 5, 10, 15 or 20 years, or part lump sum and part instalments, and the mode cannot be changed once chosen.
The minimum premium is ₹2,500 a year, or ₹12,000 for single pay. For a ₹2 crore Level Cover on regular pay, the brochure shows a healthy non-smoker male aged 30 paying about ₹16,260 a year for 20 years and ₹19,634 for 30 years, and a female aged 30 paying ₹14,060 and ₹16,534. Buying directly online gets a 7.5% discount on regular and limited pay. Your own premium depends on age, gender, smoker status, option, sum assured and term.
The minimum sum assured is ₹25 lakh, in multiples of ₹1 lakh, with no maximum subject to underwriting. Policy term runs from 5 years up to age 79, and the whole life option runs to age 100 on limited pay. You can pay once, for 10, 15, 20 or 25 years, or for the whole term.
Entry starts at 18, or 45 for whole life. The maximum entry age for Level and Increasing Cover is 65 on single and limited pay and 60 on regular pay, and Future Proofing allows up to 40. Cover ends at age 79, or 100 for whole life.
No. It is a pure term plan, so nothing is paid if you outlive the policy term and no premium is returned. There is also no survival benefit.
The only exclusion is suicide within 12 months of the risk start date or the revival date. In that case the nominee gets the higher of 80% of total premiums paid or the unexpired risk premium value instead of the death benefit. Better Half Benefit and the Accident Benefit Rider have their own exclusions.
You get 30 days to pay a yearly or half-yearly premium and 15 days for monthly. If the premium is not paid in time, the policy lapses and all benefits stop. You can revive within 5 consecutive complete years from the first unpaid premium, by paying overdue premiums with interest and proving good health.
There is no policy loan and no paid-up value. A regular pay policy pays nothing on surrender. A single pay policy pays 70% of the single premium multiplied by the unexpired term over the original term. A limited pay policy pays an unexpired risk premium value after at least two full years of premiums.
You have 30 days from receiving the policy document to review it. If you cancel and have not claimed, you get your premium back less a proportionate risk premium, medical examination costs and stamp duty.
It is an optional rider (UIN 111B041V01) with two options that you can take alone or together. Accidental Death Benefit pays an extra sum if an accident causes death, up to ₹2 crore and three times the base sum assured. Accidental Partial Permanent Disability pays if an accident causes a covered disability, up to ₹1.5 crore and the base sum assured. The rider premium cannot exceed the base premium.
The claimant informs SBI Life in writing with the policy number, cause of death and date of death, and submits the policy document, death certificate, KYC, bank proof and claim forms. The helpline is 1800 267 9090 and the claims email is claims@sbilife.co.in. You may get income tax benefits under the prevailing laws, and the brochure notes that individual life insurance is exempt from GST from 22 September 2025.