SBI Life launches ‘eShield Next’-a new age protection solution that ‘Levels Up’ as consumer’s achieve life’s prominent milestones

SBI Life launches ‘eShield Next’-a new age protection solution that ‘Levels Up’ as consumer’s achieve life’s prominent milestones

SBI Life Insurance, one of most trusted private life insurers in the country, today 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. 

  • Option 1: Level Cover Benefit- here the Absolute amount assured stays constant throughout the policy term. 
  • Option 2: Increasing Cover Benefit- Here, 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. 
  • Option 3: Level Cover with Future Proofing Benefit – This option provides consumers 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.

When buying the policy, consumers can choose an option that best suits their insurance needs. 

To know more about SBI Life ‘eSheild Next’ plan, click on the link given below:

Commenting on the launch of SBI Life eShield Next, Mr. M Anand, President, SBI Life Insurance said, “The ongoing pandemic has taught all of us to be more agile than ever, pushing us to quickly adapt to the evolving situation around us. With so much uncertainty around, it is important to ‘Level Up’ our approach in all walks of life be it our life insurance or financial planning, in a way that not only helps in meeting today’s requirements but also takes care of one’s evolving life priorities. As the name suggests, SBI Life ‘eShield Next’ is a comprehensive financial protection solution that allows consumers’ to choose the right plan option basis their future needs and not just the present needs.”

He added, “SBI Life ‘eShield Next’ gives consumers the autonomy to shape their life insurance policy as per their emerging needs. The contemporary, future-ready financial solution which is well-suited to meet the needs of consumers’ today. We hope, with its multitude of benefits allowing consumers to cover their present and future needs under a single policy, SBI Life eShield, Next ‘levels up’ insurance adoption in the country.”