SBI Life Smart Shield Plus Plan Review

Quick Overview

SBI Life Smart Shield Plus is a pure term insurance plan that offers life cover without savings or maturity benefits. It focuses only on financial protection through a death benefit, with flexible policy terms, payout options, and limited riders. The plan suits buyers who want simple, no-frills coverage backed by a well-known insurer.

SBI Life Smart Shield Plus is a straightforward term insurance offering from SBI Life Insurance, a joint venture between the State Bank of India and BNP Paribas Cardif. The plan is designed for individuals seeking clean risk protection rather than bundled investment-linked benefits.

The product is part of the Smart Shield family, which offers two variants: Smart Shield Plus and Smart Shield Premier. While Premier is positioned for higher sum assured levels, Smart Shield Plus SBI Life is chosen by buyers looking for flexible coverage structures at moderate pricing.

Unlike many modern term plans, SBI Life Smart Shield Plus keeps the structure simple, offering only death benefit protection and minimal add-ons.

Performance Metrics Of SBI Life Insurance

Metric	SBI Life Insurance
Claim Settlement Ratio (CSR)	98.24% (Average: 2022–25)
Amount Settlement Ratio (ASR)	95.2% (Average: 2021–24)
Complaint Volume	5.62 per 10,000 claims (Average: 2022–25)
Solvency Ratio	2.04x
Annual Business (in Crores)	₹34,468

Key Insights: SBI Life shows strong reliability with a 98.24% claim settlement ratio, low complaint levels, and a healthy solvency position, indicating stable long-term performance.

Features of the SBI Life Smart Shield Plus Plan

Feature	Details
Entry Age	Starts from 18 years (varies by option).
Maturity Age	Coverage available up to 79–100 years.
Policy Term	Flexible tenure from 5 years to long-term coverage.
Premium Payment	Single Pay, Limited Pay, or Regular Pay options are available.
Sum Assured	Begins at ₹25 lakh; no fixed upper limit (subject to underwriting).
Payout Options	Lump sum, instalments, or a combination payout is available.
Future Proofing	Option to increase cover during life events like marriage, childbirth, or home purchase.
Better Half Benefit	The spouse can continue the policy without paying premiums, subject to conditions.
Plan Type	SBI Life Smart Shield Plus is a pure term plan offering only life cover with no maturity or savings benefits.
Death Benefit	The nominee receives the sum assured if the insured dies during the policy term.
Cover Structure	Choose Level Cover (fixed sum assured) or Increasing Cover, where the sum assured rises by 5% each year on a simple basis, increasing up to 200% of the original sum assured, with annual increases continuing until age 71.

For more information, refer to the official SBI Life Smart Shield Plus brochure.

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Riders Available in SBI Life Smart Shield Plus

Rider	What It Covers	Key Consideration
Accidental Death Benefit (ADB) Rider	Pays an additional lump sum if death occurs due to an accident, over and above the base sum assured.	Since accidental death is already covered under the base plan, increasing the base cover may offer more comprehensive protection.
Accidental Partial & Permanent Disability (APPD) Rider	Provides a payout if the insured suffers permanent disability due to an accident within 180 days. The benefit is paid as a percentage of the rider's sum assured, based on injury severity.	Total payout is capped at the rider's sum assured, and multiple injuries to the same limb do not result in additional benefits.

What’s Not Included?

SBI Life Smart Shield Plus does not offer Critical Illness cover, Waiver of Premium, Terminal Illness benefits, or wellness features. Protection beyond the base cover is available only through the accident-related riders, making the plan relatively minimal compared to feature-rich term insurance options available with private life insurers.

Benefits and Drawbacks of SBI Life Smart Shield Plus

Benefits

Simple and easy-to-understand plan structure focused purely on protection.
Backed by SBI Life, a financially strong and well-established insurer.
Flexible premium payment options, including single, limited, and regular pay.
The Future Proofing feature allows you to increase coverage during major life events.
Multiple death benefit payout options are available for nominees.

Drawbacks

Limited rider options compared to many modern term insurance plans.
Does not offer living benefits such as critical illness or waiver of premium.
The overall feature set is relatively basic when compared to newer, more comprehensive plans.

Premium Comparison of SBI Life Smart Shield Plus vs Other Plans

Age	SBI Life Smart Shield Plus	SBI Life Smart Shield Premier	HDFC Life Click2Protect Supreme Plus	AMLI Smart Term Plan Plus	ABSLI Super Term Plan	ICICI Pru iProtect Smart Plus
25	₹18,498	₹16,426	₹21,424	₹18,952	₹20,538	₹17,014
30	₹23,092	₹20,268	₹27,000	₹23,234	₹24,400	₹21,237
35	₹30,298	₹26,380	₹35,945	₹29,362	₹31,597	₹28,238
40	₹40,932	₹35,444	₹45,694	₹39,924	₹41,779	₹39,594

Profile Considered: Premiums are illustrative for a ₹2 crore sum assured, coverage up to age 70, for a non-smoking male, without riders or first-year discounts.

SBI Life Smart Shield Plus is priced in the mid-range, aligned with large insurers, though slightly higher than some aggressively priced private plans, while the Premier variant becomes more competitive at higher cover levels.

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Ditto’s Take on SBI Life Smart Shield Plus

The SBI Life Smart Shield Plus term plan is a straightforward, protection-focused product from a well-established and financially strong insurer. It delivers dependable life cover with flexible payout choices but offers limited features, riders, and customization.

If you value brand credibility, consistent claim performance, and simplicity over additional add-ons, this plan can be a suitable option. However, those seeking more comprehensive benefits, such as critical illness coverage or waiver of premium, may find greater value in other feature-rich term plans.

Note: This review covers a non-partner insurer. All details have been sourced from policy documents available on the SBI Life website and other publicly disclosed sources. For Ditto’s methodology on how we assess insurers and plans, please refer to Ditto’s Cut.

Frequently Asked Questions

What is the minimum sum assured available under SBI Life Smart Shield Plus?

The plan starts with a minimum sum assured of ₹25 lakh, with higher coverage available based on underwriting and eligibility.

Can I choose how my family receives the claim amount in SBI Life Smart Shield Plus?

Yes, you can select a lump-sum payout, instalments, or a combination of both, based on your financial planning goals.

Does SBI Life Smart Shield Plus allow policy term extension after purchase?

No, the policy term must be chosen at inception and cannot be extended later, so selecting an adequate tenure is important.

Is medical underwriting required for SBI Life Smart Shield Plus?

Yes, medical tests may be required depending on your age, sum assured, and health profile as part of the insurer’s underwriting process.

Who should consider buying SBI Life Smart Shield Plus?

This plan is suitable for individuals seeking pure life cover with flexible payment options and without investment-linked components.

Last updated on: 22 Feb, 2026

SBI Life Smart Shield Plus