SBI Life Smart Shield Premier

Choosing a term insurance plan from a large, trusted insurer often brings peace of mind, especially when your family’s financial security is at stake. SBI Life is currently the second-largest life insurer in India, based on annual business volumes and total death claim payouts. This makes it a popular choice among buyers seeking dependable term insurance coverage.

In this SBI Life Smart Shield Premier review, we break down whether this plan truly delivers on protection, affordability, and reliability.

Insights: SBI Life maintains low complaint volumes along with healthy solvency and amount settlement ratios considering the business volume. While its claim settlement ratio is slightly below the industry average, the gap is not concerning, as it still remains comfortably above the 97% mark, indicating reliable claims performance overall.

You can find more detailed information about the plan in the SBI Life Smart Shield Premier brochure PDF.

Riders Available in SBI Life - Smart Shield Premier Plan

Unlike many modern term insurance plans that offer a wide range of add-ons, SBI Life Smart Shield keeps rider options limited to just two accident-related covers:

1. Accidental Death Benefit (ADB) Rider
   
   The Accidental Death Benefit rider pays an additional lump sum over and above the base sum assured (up to ₹2 crores) if the life insured dies due to an accident within 180 days of the accident. While it may seem useful for dependents facing sudden financial disruption, we don’t typically recommend this rider at Ditto. Accidental deaths are already covered under the base term plan, and increasing the base sum assured usually offers broader, all-cause protection rather than accident-specific cover.
2. Accidental Partial Permanent Disability (APPD) Rider
   
   This rider provides a payout (up to ₹1.5 crores) if the life insured suffers a permanent disability due to an accident, provided the disability occurs solely because of the accident and within 180 days of it. The benefit is paid as a percentage of the rider's sum assured, depending on the severity of the injury, such as 75% for loss of hearing in both ears or 50% for loss of one hand.

Note: SBI Life Smart Shield Term Plan does not offer Critical Illness (CI) cover, Waiver of Premium (WOP), Terminal Illness benefits, cover continuance options, or any health and wellness services.

Profile Considered: Premiums are based on a ₹2 crore sum assured, with coverage up to age 70, for a non-smoking male, with no added riders or 1st year or online discounts.

Insights: SBI Life Smart Shield Premier remains competitively priced across age groups and emerges as one of the more affordable options at higher entry ages, making it attractive for buyers seeking large cover at reasonable premiums.

Why Choose Ditto for Term Insurance?

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• No-Spam & No Salesmen
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• Dedicated Claim Support Team
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Confused about the right term insurance? Speak to Ditto’s certified advisors for free, unbiased guidance. Book your call or WhatsApp us now, slots fill up fast!

Ditto's Take

Overall, the SBI Life Smart Shield Premier plan is a simple, decent term plan with no unnecessary complexity. However, because it misses several in-built benefits and rider options, the premium may not feel worth it for buyers who want more comprehensive protection. If you are looking for a broader feature set in a similar price range, you can take a look at the best term plans in India according to Ditto.