SBI Life · Term · Level Term
Smart Shield Premier
A high-cover term plan aimed at customers wanting at least ₹2 crore of protection, with a choice of level or step-up cover and long policy terms up to age 85.
Product data last fetched 26 August 2026. Features, premiums and availability may change — verify against the official brochure/policy wording before deciding.
The truth card
PurposeProtection
CategoryLevel Term
InsurerSBI Life
Life CoverNot available in the current product data
PremiumNot available in the current product data
Policy TermNot available in the current product data
Premium-Paying TermNot available in the current product data
GuaranteeNot available in the current product data
Market ExposureNot applicable — non-linked
LiquidityNot available in the current product data
Lock-inNot available in the current product data
ChargesNot available in the current product data
Maturity BenefitNot available in the current product data
Death BenefitNot available in the current product data
SurrenderNot available in the current product data
Paid-upNot available in the current product data
Tax NotesDepends on policy structure, premium amount, issue date and applicable tax law — see our tax notes
XIRRNot available in the current product data
What this product is
A high-cover term plan aimed at customers wanting at least ₹2 crore of protection, with a choice of level or step-up cover and long policy terms up to age 85.
You might need this if…
- You might need this if you need a large sum assured (₹2 crore or more) and want a plan purpose-built for high-net-worth cover levels.
- You might need this if you want your cover to rise automatically over time without extra underwriting.
- You might need this if you want the option to add accident-related riders for both death and permanent disability.
- You might need this if you'd like your family to have a choice between lump sum and phased installment payouts.
How it actually works
- Minimum sum assured is ₹2 crore; entry age from 18, maximum maturity age 85, policy terms from 10 to 65 years.
- Two cover options: Level Cover (fixed) or Increasing Cover, which rises by 10% of sum assured every 5 years up to a 100% cap, stopping increases after age 71.
- Premium payment can be Regular or Limited (5, 10, 15, 20, or 25 years), with discounts of 6–10% built into the limited-pay premium structure.
- Death benefit is the highest of the Absolute Amount Assured, 11× annualized premium, or 105% of total premiums paid.
- An optional Accident Benefit Rider adds up to ₹2 crore Accidental Death cover (max 3× base sum assured) and/or up to ₹1.5 crore Accidental Partial Permanent Disability cover.
- Installment death-benefit payouts use an interest rate of 200 basis points below the 10-year G-Sec yield (6.58% as the reference rate from April 2025).
Worked example
Aman Sinha, age 30, takes ₹2 crore Level Cover with an 85-year term: annual premium ₹24,592. Death in year 10 pays the full ₹2,00,00,000.
Worth knowing before you decide
- No surrender value on Regular Premium policies; Limited Premium policies only build surrender value after 2 years.
- No maturity benefit and no policy loan facility — this is a pure high-cover protection product.
- Suicide within 12 months of start or revival limits the payout to 80% of premiums paid or the surrender value, not the full death benefit.
- Rider premium is capped at 100% of the base premium, so very large rider cover isn't unlimited.
Official source
⌟ Official product brochure
Learn about this category
Read the full term insurance explainer → · See all protection products →