SBI Life e-Shield : Online Pure Term Insurance Plan with the Best Financial Protection

SBI E-Shield is the non-participating, non-linked pure online term insurance policy by SBI Life. Alike all other tem policies, the SBI Life E-shield covers life risk with higher sum assured value and minimal premiums. Insurers also avail the rider benefits and for non-smokers there are get great discounts on premiums as well. There are also other key benefits and features of this term policy that make it the most appreciated and highly preferred plan today. Since it is an online term policy, you are required to purchase it online. Moreover, no bonus facility is there with this term plan by SBI Life. Insurers can also enjoy great rewards for maintaining a healthy lifestyle. Unlike other term plans, this term policy by SBI Life offers a variety of plan options to choose coverage and premiums are set based on the coverage required. 

SBI Life E-shield Key Features

Since it is an online term policy, you need to buy SBI E-Shield is the non-participating, non-linked pure online term insurance policy by SBI Life. Alike all other tem policies, the SBI Life E-shield covers life risk with higher sum assured value and minimal premiums. Insurers also avail the rider benefits and for non-smokers there are get great discounts on premiums as well. There are also other key benefits and features of this term policy that make it the most appreciated and highly preferred plan today. Since it is an online term policy, you are required to purchase it online. Moreover, no bonus facility is there with this term plan by SBI Life. Insurers can also enjoy great rewards for maintaining a healthy lifestyle. Unlike other term plans, this term policy by SBI Life offers a variety of plan options to choose coverage and premiums are set based on the coverage required. 

SBI Life E-shield Key Features

• Since it is an online term policy, you need to buy SBI Life E-shield online from SBI Life Website
• No maturity bonus or benefits are available with this term plan. 
• The entry age of this policy is 18 years and above and minimum sum assured value must be 20 lakhs and can be increased in multiples of 1 lakh
• There are four different coverage plan options – Level Cover, Level Cover with Accidental Death Benefits, Increasing Cover and Increasing Cover with Accidental Death
• Insurer can get 10% of sum assured after successfully completing 5 years of the policy without increasing the premiums. 
• The additional accidental death benefit is equivalent to the sum assured of Rs 50 lakhs, whichever is lower
• There are great discounts on premiums if you are non-smoker and rewards are there for maintaining good lifestyle 
• Income tax benefits under section 80C and 10(10D)
• The policy benefits will cease if premiums are stopped by the insurer, but the policy can be revived again within three years range

Benefits from SBI Life E-shield

Death Benefits – If the insurer dies within the policy tenure, the nominee of the policy will get the lump sum amount as death benefit. However, the death benefits the nominee will get greatly depend on the plan option chosen by the insurer.

Maturity Benefits – Since it is a term insurance plan, there is no maturity benefit or bonus available

Income Tax Benefits – The insurance premiums up to Rs 1, 00, 000 are eligible for deduction from the taxable income under section 80C and the Maturity Proceeds are also tax free under section 10(10D). But, it is subject to fulfillment of terms and conditions. 

How SBI Life E-shield Works

In this term policy by SBI Life, you are required to pay the premiums for entire policy at the time of signing the policy contract. There are basically four Variants of SBI Life E-shield Policy.

• Level Cover – The Effective Sum Assured in this term policy option is the Basic Sum assured that insurer chooses at policy inception.
• Level Cover with Accidental Death – The Effective Sum Assured is same as in Level Cover option, but the policy comes with built-in rider coverage that offers accidental death benefits. If there is an accidental death then the nominee would get a lump sum which is equal to Basic Sum Assured or Rs 50 Lakhs, whichever is lower
• Increasing Cover – The Basic Sum Assured can be increased by 10% after every 5th policy year without increase in premiums
• Increasing Cover with Accidental Death – The Basic Sum Assured can be increased by 10% after every 5th year of the policy without any increase in policy, but this term plan option comes with inbuilt rider of Accidental Death Benefits where the nominee would get a lump sum which is equivalent to the Basic Sum Assured or Rs 50 Lakhs, whichever is lower.
• Online from SBI Life Website
• No maturity bonus or benefits are available with this term plan. 
• The entry age of this policy is 18 years and above and minimum sum assured value must be 20 lakhs and can be increased in multiples of 1 lakh
• There are four different coverage plan options – Level Cover, Level Cover with Accidental Death Benefits, Increasing Cover and Increasing Cover with Accidental Death
• Insurer can get 10% of sum assured after successfully completing 5 years of the policy without increasing the premiums. 
• The additional accidental death benefit is equivalent to the sum assured of Rs 50 lakhs, whichever is lower
• There are great discounts on premiums if you are non-smoker and rewards are there for maintaining good lifestyle 
• Income tax benefits under section 80C and 10(10D)
• The policy benefits will cease if premiums are stopped by the insurer, but the policy can be revived again within three years range

Benefits From SBI Life E-shield

Death Benefits – If the insurer dies within the policy tenure, the nominee of the policy will get the lump sum amount as death benefit. However, the death benefits the nominee will get greatly depend on the plan option chosen by the insurer.

Maturity Benefits – Since it is a term insurance plan, there is no maturity benefit or bonus available

Income Tax Benefits – The insurance premiums up to Rs 1, 00, 000 are eligible for deduction from the taxable income under section 80C and the Maturity Proceeds are also tax free under section 10(10D). But, it is subject to fulfillment of terms and conditions. 

How SBI Life E-shield Works

In this term policy by SBI Life, you are required to pay the premiums for entire policy at the time of signing the policy contract. There are basically four variants of SBI Life E-shield policy.

• Level Cover – The Effective Sum Assured in this term policy option is the Basic Sum assured that insurer chooses at policy inception.
• Level Cover with Accidental Death – The Effective Sum Assured is same as in Level Cover option, but the policy comes with built-in rider coverage that offers accidental death benefits. If there is an accidental death then the nominee would get a lump sum which is equal to Basic Sum Assured or Rs 50 Lakhs, whichever is lower
• Increasing Cover – The Basic Sum Assured can be increased by 10% after every 5th policy year without increase in premiums
• Increasing Cover with Accidental Death – The Basic Sum Assured can be increased by 10% after every 5th year of the policy without any increase in policy, but this term plan option comes with inbuilt rider of Accidental Death Benefits where the nominee would get a lump sum which is equivalent to the Basic Sum Assured or Rs 50 Lakhs, whichever is lower.

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SBI Mutual Fund - Best Schemes & Returns of India's Leading Mutual

As one of the foremost asset Management Company in India SBI Fund Management Pvt.Ltd have an experience of 25 years in managing funds and serves a customer base of over 4.58 million. SBI Fund Management Company manages SBI Mutual Fund. With a huge investor base SBI Mutual Fund delivers value product to its investors. SBI Mutual Funds offers vast and worthwhile investment options for a wide group of investors in the country. 

According to one’s own choice the investors can choose from wide options of comprehensive funds and can make a stable investment to achieve their financial goal. Both offshore funds and domestic funds are offered by SBI Mutual Fund. Further in this article we have briefly discussed the key features and benefits offered by the policy. 

Types of Fund Options Offered by SBI Mutual Fund

1. Equity Schemes- The major objective of this scheme is to offers capital growth to the investors. In equity schemes the money is invested in equity, stocks and equity related instruments. There are various fund options offered by equity schemes. 

• Equity/growth fund 
• Thematic funds
• Sectoral funds
• Index fund
• ELSS funds
• Market Neutral Strategy

2. Exchange Trade Schemes- Exchange traded scheme the funds are invested in stocks and comes with different securities. 5 different types of fund options are available under exchange trade schemes. 

3. Hybrid Scheme- In Hybrid scheme the investment is made in both debt and equity in different proportion. It includes the components of both bond and stock. 7 different type of fund option is available under hybrid scheme. 

4. Debt/Income scheme-under this scheme the money is invested in fixed income securities like corporate debenture, bond, government securities, etc. By investing in this SBI mutual fund the investors can receive a steady and regular flow of income. Under debt/income scheme 11 different fund options are available to invest in. 

5. Liquid Scheme – In this scheme the money is invested in short term investment products like commercial paper, treasury bills and certificate of deposit. The liquid scheme offers 3 different fund options to invest in. 

6. Funds of Funds- in funds of fund the money is majorly invested in different scheme of the same mutual fund or other mutual fund. Fund of fund offers SBI Gold fund under SBI Mutual Fund. 

Reasons to Choose SBI Mutual Fund

SBI mutual Funds offer manifolds of benefits to the investors. With a comprehensive fund options the investors and choose the most beneficial plan according to their own suitability and can achieve their long and short term objective. In order to cater the requirements of business entities and individual investors, the SBI mutual funds offers wide range of fund options to invest. Here we have mentioned some of the benefits offered by SBI Mutual Fun.

1. The funds offered by SBI Mutual Fund involves very low risk, thus it provides an assurance to the investors of profitable capital appreciation over a long and short-term period. 
2. Both offshore and domestic funds are offered by SBI Mutual Fund. 
3. According to the requirement of the investors he/she can tailor from a wide option of funds as per their choice. 
4. The money invested in equity linked saving schemes is eligible for tax exemption under section 80C of Income Tax Act. 
5. SBI mutual funds are a very profitable investment option for NRIS’ too. 
6. The process of investing in SBI mutual fund is very easy and hassle free as one can do the online investment and can also asses the investment whenever required.

The Four Most Common ULIP Sales Pitches - That All Buyers Must Be Aware Of

ULIP plans are trending in the market more and more these days as they are extremely buyer friendly and multifunctional. But there are certain sales pitches from the insurance company’s end that you must know.

Firstly, before getting into any further details about the pitches, we must know what ULIP is exactly. ULIP is an abbreviation for unit-linked insurance plan that is a different kind of plan in the insurance industry.

Usually, insurance plans offered by companies are plans that either are categorized as life insurances or as medical insurances. In both cases, you must be paying a certain amount of money every month as premium and in the end you would get an amount that is your sum insured.

ULIP also has life insurance properties but whilst doing that, it also lets you invest in other processes like stocks and mutual funds etc. In allows you to use the money that you are paying as a n option for investment in various different fields like stock and mutual funds.

Basically, ULIP is a very easy and convenient plan to choose when you're looking for a policy and also want to make some right types of investment.

However, there are so many ULIP options available in the insurance market that often a buyer may be confused as to which one to choose. Also, there are so many sales pitches prepared by these insurance companies to sell the ULIP and a buyer must be aware of all these tactics to make the right decision without being deceived.

Here are 4 sales pitch techniques that insurance companies always use when they want to market a ULIP.

1. The premium pitch.

The sales agents get you by saying that you would have to pay premium for only a period of 3 years or so and not after that. They often don't say the other part of the story which is the fact that the premium you don't pay gets cut from your original sum.

2. The fund manager technique.

Sales executives selling ULIP would give you a guarantee saying your funds would be taken care of by a fund manager, while in reality, all insurance funds are taken care by fund managers.

3. New ULIP sales tactic.

The sales person would make you believe that the newer the ULIP plan he cheaper it would be for you. They overlook all the other factors involved in buying a suitable ULIP.

4. The guarantee of returns.

The sales manager would tell you that with a ULIP you are guaranteed to receive returns but in reality, it involves the same risk as any investment done in the market would.

Here were the few pitches you just know about buying a Suitable ULIP Plans for Yourself.

Why to buy a ULIP?

Though you might be given various sales pitches, investing in a ULIP is still a great idea. It lets you be in control of your funds while still having the security that you need, which is a great deal. ULIP is different from any other form of insurance as it does not just provide you with an insurance, but also gives you the opportunity to make an investment through mediums like stocks and mutual funds. This is a really innovative and efficient manner to buy a insurance policy.

Features and benefits

Here are the few features and benefits of ULIPs

•Mostly, guaranteed returns. Most people buying ULIP have had great returns after the prescribed time.

•More authority over the money invested.

•Multi functional since provides Botha security and investment options.

•short term investment, though not very short, but still relatively shorter than other investment plans.

Eligibility

You must be above the legal age to buy a policy that is 18 years and must have your documents in place that is the only eligibility. Also few more eligibility criterion a may be applicable depending upon the actual company you take the ULIP from.

Documents required

Few document that you would need to buy or invest in a ULIP Are,

•address proof (your ration card or your passport)

•Identity proof (documents like a PAN card or an aadhaar card)

•Age proof (documents like the birth certificate)

Reliance Term Insurance Plan - Benefits

“Unless you’re immortal, you need life insurance!” – Anonymous.

We all are living in a world that is very uncertain at every step. It becomes really important to ensure that your family is secured and stays protected unconditionally. Reliance Term Insurance Plan helps you do exactly the same. The term plan by Reliance is a pure form of life insurance. It offers a complete and affordable coverage to the policyholder for a limited period. The policyholder can opt for a Sum Assured as per their financial needs.

There are three different policies offered under the Reliance Term Insurance. They are:

·         Reliance Nippon Life Term Plan

·         Reliance Nippon Life Online Term Plan

·         Reliance Nippon Life Online Income Protect

1.      Reliance Nippon Life Term Plan:

Reliance Nippon Life Term Plan offers family protection against the unforeseen circumstances that may affect your family’s lifestyle when you are not around. This term plan offers a large life insurance cover at an affordable premium.

Parameters	Minimum	Maximum
Age at the entry level (Years)	21	60
Age at the time of Maturity (Years)	26	65
Policy Term (Years)	5	30
Premium Payment Term (Years)	Equal to Policy Term
Premium (Rs.)	Rs. 2000	No limit
Sum Assured (Rs.)	Rs. 5, 00, 000	No limit
Premium Payable Mode	Yearly, Half-yearly or Quarterly mode

Key Benefits of the plan:

The key benefits of the term plan by Reliance are:

·         You can choose adequate protection cover depending upon your needs.

·         This plan enables you to enhance your protection through optional riders.

·         Under this plan, you enjoy tax benefits subject to tax laws.

·         This plan ensures security for your loved ones in case of any mishap.

·         You can buy insurance-cover at an affordable premium.

Reliance Nippon Life Online Term Plan:

For today’s generation, Reliance Nippon Life Online Term Plan is considered as an ideal term plan. It offers a large cover at a reasonable premium without any tedious paperwork. The process is a convenient seamless online process. It ensures complete financial protection at lower premiums.

Parameters	Minimum	Maximum
Age at the entry level (Years)	18 (Last birthday)	55 (Last birthday)
Age at the time of Maturity (Years)	28 (Last birthday)	75 (Last birthday)
Term of the Policy (Years)	10|15|20|25|30|35
Term of Premium Payment (Years)	Equal to Policy Term
Sum Assured	Rs. 25, 00, 000	No limit
Premium	Rs. 3500	No limit
Premium Payable Mode	Annual

Key Benefits of the plan:

The online term plan has the following key benefits:

Flexibility: The plan provides flexibility to decide the protection cover depending upon his needs.

Financial Protection: The plan offers complete financial protection at a reasonable cost.

Lower Premiums: The plan ensures healthy lifestyle through lower premiums.

Simple Process: The plan has a simple and hassle free process.

Tax Benefits: The policyholder enjoys the tax benefits as per applicable tax laws.

Convenience: The plan offers simplified medical examination process.

Reliance Nippon Life Online Income Protect Plan:

Reliance Nippon Life Online Income Protect Plan comes with a feature of protecting your family with a lump sum to pay out larger liabilities. This Reliance Term Insurance Plan not only protects your family with a lump sum to pay off liabilities but also provides with a monthly income to ensure the same standard of living.

This plan provides you with complete financial protection at a reasonable cost along with the convenience of purchasing the policy online in just a few clicks.

Parameters	Minimum	Maximum
Age at the entry level (Years)	18	55
Age at the time of Maturity (Years)	28	75
Term of the Policy (Years)	10, 15, 20, 25, 30, 35
Term of Premium Payment (Years)	Equal to Policy Term
Base Sum Assured	Rs. 35, 00, 000	No limit
Annual Premium	Rs. 3500	No limit
Premium Payable Mode	Annual

Key Benefits of the plan:

The plan has the following benefits:

Double Protection: This plan offers double protection at an affordable cost.

·         Lump sum payout of large liabilities

·         Regular monthly income until retirement to protect your family’s lifestyle

Tax Benefits: The policyholder enjoys tax benefits as per the prevailing tax laws.

Lower Premiums: The plan ensures healthy lifestyle through lower premiums

3-Step Process: The application process consists of three simple steps.

Nothing can compensate for the loss of a life, but a term plan can provide you the peace of mind that your family will be secured when you are not around. You can opt for the best plan that suits you as per your preferences and requirements. 

Why Opting For LIC Online Term Plan Is Beneficial?

As we are moving towards cashless economy we now have all the resources that will help us to rely online for our entire day-to-day task. Moreover, we now can take LIC term plan without making any huge investment. This is only possible if you make an online payment.

Features of Online LIC Term Plan:

•    All you need is to visit the official website of LIC India to take the policy.

•    The policyholder does not get any maturity benefit as it is a pure term insurance plan.

•    25 Lakhs is the minimum sum that one can assure. On the other hand, there is no limit on the maximum sum that you can assure.

•    The other benefits of purchasing the online term plan of LIC are that they are cheaper than the traditional methods of purchasing the plans.

•    Payment can be made only on an annual basis.

•    An insurance cover can be purchased only for yourself.

•    This plan does not offer any rider.

•    Policy tenure: minimum – 10 years, maximum – 35 years

•    Entry age: min – 18 Years, max- 60 years

•    Maximum age limit- 75 years.

•    Saves you from the hassle of cash payments as you can pay it online.

Cost of the LIC

LIC has emerged out as a surprise to a lot of us. The premium paid for an e-Term is quite reasonable. When compared to other players in the market ICICI Pru iCare charges more premium as compared to LIC Term Plan. However, an e-Term plan that offers an assured sum of fewer than 50 Lakhs is the costliest term plan for a person who leads a healthy lifestyle. When it comes to the cost we very well know that the offline term insurance plans offered by LIC are quite expensive.  HDFC Click2Protect costs you less than LIC e-Term. These premium offered by these companies are much more than the premium offered by other insurance providers in the market.

Tenure and Age Condition Of LIC Term Plan

LIC Online Term plan offers its policyholders highly flexible terms and conditions in the case of age and tenure. One of the biggest examples is that no other insurance plan offers you to a term insurance cover at the age of 75.  Being the oldest insurance provider the company cares for the elderly people.

	Max Maturity Age	Max Age of Entry	Maximum Policy Term
LIC e-Term	75	60	35
ICICI Pru iProtect	65	60	30
HDFC Click2Protect	65	55	30
SBI Life eShield	70	65	30

Easy to Subscribe

To take the Subscription of LIC Online Term plan is not quite an easy task. It is quite tiring to fill in the entire form. You need to go through several verification steps. Plus, you need to fill up a lot of information which is simply useless. You might demotivate you but you need to actualize the fact that at the end of the day it is a government organisation.

Riders offered by LIC Online Term Plans

One of the most important things is that you need to know is that the online Term Plan does not offer any rider benefit. However, several private insurance providers also render rider facility using online term plans.