1 Crore SBI Term Insurance: Ditto's 2025 Guide

1 crore SBI term insurance: Overview

A ₹1 crore cover from SBI Life Insurance is best offered through their flagship plan Smart Shield Plus. It's an individual, non-linked, non-participating pure protection plan where the nominee gets ₹1 crore if the insured passes away during the term with no survival benefit.

Introduction

Whether it’s home loan repayment, children’s education, or daily expenses, a ₹1 crore term insurance can be enough to protect the needs when you are not around anymore. But picking the right insurer is always tricky.

When addressing this, SBI Life always had an edge, thanks to its brand value and the legacy it has built over years.

In this article, you will learn:

• What are the features and benefits of ₹1 crore SBI term insurance?
• How to choose the right ₹1 crore SBI term insurance plan?
• Who should buy SBI’s ₹1 crore term insurance?

Unsure if ₹1 crore cover with SBI is enough for your family? Book a FREE call with Ditto’s experts for honest, no-spam term insurance advice.

To learn more about SBI Life's Smart Shield Plus, check out the policy wording.

Key Features of 1 Crore SBI Term Insurance

• Functional, no frills cover A simple, to-the-point term plan that offers easy customization, without any fancy and unwanted features.
• Life-event boosts: SBI Smart Shield Plus term plan has excellent future proofing options as it allows increasing your cover after major life events (like marriage, child-birth/adoption, or buying a new home on loan) without buying a new policy.
• Flexible payout choices: While there are more than one kind of payouts (lumpsum, monthly, mix), it's recommended to choose a lump sum so that the nominee gets the entire amount upfront and has full control. Later, the money can be used however the nominee wishes to clear big loans or invest in market-linked instruments for better returns.
• Riders / built-in Add-ons: Smart Shield Plus plan offers optional add-ons like Accident Benefit Rider, Accidental Partial Permanent Disability Benefit and Better Half.

If you're a first time term insurance buyer, we recommend checking out our exclusive guide on why term insurance is important in 2025.

Benefits of 1 crore SBI term insurance

01

Good Level or Increasing Cover

You can keep the cover fixed or let it grow by opting for the increasing cover option ( +5% yearly, goes up to +200%).

02

Long Coverage

Smart Shield Plus plan offers option for whole life coverage (for up to 100 years)

03

Vital Life-Stage Boosts

With Future Proofing, you can raise your cover across important life events, like marriage, child-birth/adoption, or a new home loan.

04

Safety Net for Spouse

Optional riders like Better Half in Smart Shield Plus promises automatic cover for the spouse if the insured passes away (limits and conditions apply).

05

Flexible Premium Pay

You can choose between single, regular or limited pay to match your cash flow.

06

Backed by Solid Numbers

SBI Life has an average claim settlement ratio (CSR) of 98.24% (FY 2022–25), an average amount settlement ratio (ASR) of 95.2% (FY 2021–24), and only 5.62 customer complaints per 10,000 claims (FY 2022–25).

How To Choose The Right 1 Crore SBI Term Insurance Plan?

• Read the plan details and features to match your requirements.
• Select an appropriate policy term (typically up to your retirement, till  60-70 years, but can vary based on your profile).
• Choose need-based riders only.
• Fill out the proposal form and pay the first premium.
• Medicals (phone/physical) will be triggered based on the overall profile.
• Underwriting takes place.
• Your term policy receives a decision for issuance.

To find out the exact cover you need, use Ditto’s Term Insurance Calculator. For more details check out our exclusive guide.

Who Should Buy 1 Crore SBI Term Insurance : Ditto’s Take

SBI Life's ₹1 crore term insurance promises some great benefits and is mostly ideal for:

• Young earners starting their career or looking for basic coverage: Locking a sufficient cover at a young age keeps the premiums affordable for the long term.
• Families with loans: If there’s a home loan or other long-term commitments, a 1 crore cover actually helps.
• Self-employed professionals: Even if your income fluctuates, ₹1 crore can secure EMIs, rent, and basic expenses of dependents.

Even though ₹1 crore seems enough today, it shouldn’t be a fixed benchmark. Inflation will reduce its value over time, so choose coverage based on your needs, lifestyle, and future goals—not just the number. ₹1 crore is a good start, but remember to:

• Review your cover every year with changing income and expenses.
• Increase your cover after major life events (like marriage, kids, bigger home loan) if the plan allows for it or buy a new term plan.
• Combine term cover with other investments (like SIPs and mutual funds) and health insurance to keep your family protected.

Why Choose Ditto for Term Insurance?

At Ditto, we’ve assisted 8,00,000+ customers to pick the right insurance policy mapping their budget and unique needs. Here’s why customers like Aaron trust us.

• No-Spam & No Salesmen
• Rated 4.9/5 on Google Reviews by 15,000+ happy customers
• Backed by Zerodha
• 100% Free Consultation

You can book a FREE consultation. Slots are running out, so make sure you book a call now!

Final Thoughts on 1 Crore SBI Term Insurance

SBI’s ₹1 crore term cover via Smart Shield Plus combines a trusted brand, strong claim numbers and a straightforward benefit structure, including return-of-premium options within a wider portfolio.

However, SBI’s term plans are relatively basic compared to newer alternatives; they miss key riders like Critical Illness and Waiver of Premium, and modern features like instant cover and auto cover continuance.

So, before buying, calculate your exact coverage needs and compare top term plans from insurers like Max Life, Axis Life or Bajaj Allianz, matching your current age and health status. Book a free call with Ditto for expert, no-spam guidance.

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