SBI Life Insurance, announced the launch of a unique new age protection solution – ‘SBI Life eShield Next’, that ‘Levels Up’ the protection coverage as the insured achieves life’s prominent milestones.
An individual, non-linked, non-participating, life insurance pure risk premium product, is designed to let consumers enjoy the finer moments in life, by ‘levelling up’ the required insurance protection, an increase in sum assured linked to the significant ‘level-up’ milestones in one’s life, like getting married, becoming a parent or buying a new house.
The unique selling proposition of the new age protection plan eShield Next is its ‘level-up’ feature. It offers three plan options – ‘Level cover, Increasing cover and Level Cover with Future Proofing benefit’. Each has been thoughtfully crafted to meet the changing needs of consumers.
In Level Cover Benefit, the Absolute amount assured stays constant throughout the policy term. In Increasing Cover Benefit the absolute amount assured on death increases by 10% p.a. (simple) of the Basic Sum assured at the end of every 5th year of the policy.
Lastly in Level Cover with Future-Proofing Benefit consumers get the choice to increase their cover as they achieve through life’s important milestones like, getting married or becoming a parent or buying a house, without undergoing further medical tests.