Smart Shield Plus
SBI Life's term plan with an automatic escalator built in: the sum assured rises by 5% simple each year, and keeps rising until you reach 71. It also offers cover for a spouse under the same policy, provided the age gap is no more than ten years and the policy is issued at standard rates.
The things that decide it
Smart Shield Plus in one table
| Insurer | SBI Life Insurance Company Limited |
|---|---|
| Sum insured | Chosen at purchase, then escalating 5% simple each year until age 71. The starting figure is subject to underwriting. |
Claim settlement and complaint figures are IRDAI-published and held centrally by NYVO, not taken from the insurer's marketing.
What Smart Shield Plus does, and what it does not
Term insurance is a narrow product, so the useful question is not how this plan scores against a benchmark - it is what it pays for and what it leaves out. Both lists come from SBI Life's own documents.
- Sum assured increases 5% simple each year, continuing until age 71
- Optional cover for a spouse under the same policy
- Accident benefit available as a rider
- Spouse cover with an age gap over 10 years, or on non-standard rates
- Maturity benefit - nothing is paid if you survive the term
Add-ons you can buy with it
Each of these costs extra and each has its own conditions. Some are genuinely worth it; several exist to patch a gap in the base plan. Ask what each one adds before it goes on your quote.
| Add-on | What it does |
|---|---|
| SBI Life Accident Benefit Rider | Additional cover on accidental death, for an extra premium. |
What this plan will not pay for
Every policy carries exclusions, and they are the clauses people read for the first time at claim stage. These are the ones worth knowing before you buy.
Not covered
Indicative, not exhaustive. Your policy wording is the contract.
- Suicide within 12 months of policy commencement or revival - the payout is limited to a return of premiums, per the standard clause. Read the policy wording for the exact percentage.
- Spouse cover is conditional: it applies only where the couple is married, the age difference is 10 years or less, and the policy is issued at standard rates. Anyone rated up for health or occupation loses it.
Where Smart Shield Plus falls short
No plan is right for everyone, and a page that only lists strengths is not much use to you. These are the gaps we would raise on a call before recommending it.
Worth knowing before you buy
None of these are dealbreakers on their own. They are the trade-offs this plan asks you to accept.
- The 5% escalation is simple, not compound. On ₹1 crore that adds a flat ₹5 lakh a year, so after twenty years the cover is ₹2 crore - which sounds substantial until you set it against what twenty years of medical and living-cost inflation does. It is a partial hedge, not a solution.
- Spouse cover carries real conditions: married, age gap of 10 years or less, and standard rates at issue. If either of you is rated up for health, it does not apply.
- The escalation stops at 71 even if the policy runs to 75.
- No maturity benefit. Survive the term and nothing comes back.
Read it from the insurer
We summarise. The policy wording is the contract, and it is the only document that settles a dispute. These links go to the insurer's own pages.
Is Smart Shield Plus the right plan for you?
A salaried, IRDAI-certified NYVO advisor will look at what you already have, tell you where this plan fits and where it does not. Free, and with no obligation to buy.
Book a free call →NYVO is an IRDAI Registered Corporate Agent (Composite), licence number CA1085. This page is general information about a product, not personal insurance advice. Plan terms are summarised from the insurer's documents – the policy wording governs.
