SBI Life Launches 'Smart Shield Plus' Term Insurance Plan with Future-Ready Benefits

SBI Life has introduced ‘SBI Life–Smart Shield Plus’, a new term insurance product. It is aimed at providing life cover that adjusts to an individual’s changing responsibilities over time. The company described the plan as “future-ready,” offering optional features and multiple coverage formats.

SBI Life-Smart Shield Plus Offers 3 Plan Options

The SBI Life-Smart Shield plan is a non-linked, non-participating, pure risk life insurance product. It offers three coverage options:

• Level Cover: A fixed sum assured throughout the policy term
• Increasing Cover: The sum assured increases automatically at a simple rate of 5% per year, capped at 200%
• Level Cover with Future-Proofing Benefit: Allows policyholders to raise their coverage during significant life events such as marriage, childbirth, or buying a home, without additional medical checks

These options are designed to help policyholders align their insurance coverage with different stages in their personal and financial lives.

SBI Life-Smart Shield Plan Offers Flexible Death Benefit Payout Options

The SBI Life-Smart Shield policy provides flexibility in how the death benefit is paid to the nominee. Payout options include a lump sum, regular instalments, or a combination of both, allowing families to manage financial needs in a way that suits them best.

SBI Life-Smart Shield Plan Offers Optional Features and Riders

An additional feature called the Better Half Benefit allows the surviving spouse to receive life cover after the policyholder’s death. The benefit amount is either ₹25 lakh or 50% of the original sum assured, whichever is lower. This benefit begins after the death claim is paid and continues until the spouse turns 60. No further premiums are required for this added cover.

The plan also offers optional Accident Benefit Riders for coverage in case of accidental death or partial permanent disability.

SBI Life-Smart Shield Plan is Not Linked to Investments

As a pure protection plan, Smart Shield Plus does not offer any maturity benefit or return on premium. It is not tied to any investment product, and its primary function is to provide financial protection in the event of the policyholder’s death.

Read more: Best Child Insurance Policies in India for Aug 2025.

Conclusion

SBI Life–Smart Shield Plus is a flexible and scalable term insurance plan built for today’s evolving lifestyles. It not only offers increasing life cover and protection for key life events but also supports your loved ones with additional options like Better Half Benefit and accident riders.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.