SBI Life 50 Lakh Term Insurance

SBI Life Term Insurance plan helps an individual to create a financial cushion for their loved ones in case of an unforeseen event. A SBI Life Term insurance 50 lakhs helps you build a financial corpus. Under a term insurance plan with a sum assured of Rs. 50 lakhs, the nominee shall receive a death payout equivalent to Rs. 50 lakhs in case of unforeseen death of the policyholder. The term insurance plan that offers 50 lakhs is a SBI Life Smart Shield Plus that is a pure risk life insurance plan.

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SBI Term Insurance Plans

SBI Life Insurance Company offers a number of comprehensive term insurance plans to meet the needs of insurance buyers. The term insurance protection policies offered by SBI Life Insurance are personalized to provide financial security and protection to the family of the insured in case of any eventuality.

While SBI Term insurance plans can be bought offline as well as online. Along with the benefit of death payout, the term insurance plans offered by SBI Life Insurance offer add-on (rider) benefits to supplement the coverage of the policy. With a pocket-friendly premium rate, SBI Term insurance plans are specifically designed for individuals who want to provide financial protection to their loved ones.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

What is a SBI Life Term Insurance 50 Lakhs?

A SBI Life term insurance 50 Lakhs is a policy with a sum assured of Rs. 50 lakhs which is provided to the nominee/claimant as a death benefit, in case of unforeseen death of the policyholder during the term of the policy. This type of term insurance comes with a high amount of sum assured but the premium amounts are quite low. These plans provide long time financial protection for the policyholder and his/her family members in difficult situations.

SBI Life Term Insurance 50 lakh can include SBI Life e-shield next and SBI Life smart shield.

Features of Buying SBI Life Term Insurance 50 Lakhs

It provides financial protection and support to your family
Different term insurance plan options are available as per the requirement
SBI Rewards for a healthy living lifestyle
Flexibility in paying premium amounts
Offers the choice of options of payout
Tax benefits are available under sections 80C and 10(10D) of the Income Tax Act, 1961
Rebates are allowed on larger sum assured amounts

Who Should Purchase SBI Life Term Insurance 50 Lakhs?

An individual who has a regular source of income and financial dependents should always consider buying a term insurance plan. Parents, unmarried/married people, professionals, retired individuals, self-employed, etc. Simply put, individuals who are paying taxes should consider buying a term insurance plan for tax exemption and also build a financially secure future for their family from the unpredictability of life. It is recommended that young individuals purchase a term plan as they receive substantial coverage at a minimal cost of the premium.

Eligibility Criteria for SBI Life Term Insurance 50 Lakhs Plan

Here are the eligibility conditions required to buy the SBI Life Smart Shield Plus plan:

Parameters	Minimum	Maximum
Entry Age	18/45 years	65 years
Maturity Age	–	79 – 100 years
Sum Assured	25 Lacs	No limit
Premium Payment Mode	Single, yearly, half-yealry, and monthly
Policy Term	5 years	(100 - age at entry) years
Premium Payment Term	Single, regular, or limited pay term

Note: It is suggested to calculate the term plan premium on the term insurance calculator online tool by Policybazaar before buying the plan.

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Benefits of SBI Life Term Insurance 50 Lakh Plans

SBI Life Smart Shield Plus

It is a new-age protection plan that is specifically designed for you to meet your present needs and your changing responsibilities.

Benefits of SBI Life Smart Shield Plus

Choice of three plan options, which are Level Cover with Future Proofing Benefit, Increasing Cover Benefit & Level Cover Benefit to suit your Protection requirements.
Personalize the plan to meet your needs by:

Better half benefit option
Additional cover via Riders

Get covered for your whole life (till 100 years) or till 79 years of age (other than whole life)
The choice to pay the premium once, for a limited period, or whole policy term as per your convenience
In case of a policyholder’s death during the policy term. The sum assured on death is paid to the nominee as the higher of:

For Regular and limited premium:

11 times the annual premium
Absolute assured amount paid on death
105% of the total premium received till death

For Single Premium:

1.25 times of single premium
Absolute assured amount paid on death

How To Buy SBI Life Term Insurance 50 Lakhs?

Step 1: Choose the plan option that suits your requirement and select the protection level required to make sure the family’s security.

Step 2: Enhance policy with add-on riders available

Step 3: Choose the mode of death benefit that would cater to the requirements of your family

Step 4: Choose the policy term and PPT (Premium Payment Term)

Step 5: Pay the required amount of premium

Note: Know what is term insurance first and then buy a term plan for your loved ones.

Documents Required to Buy SBI Life Term insurance 50 Lakhs

Certain KYC documents are always needed at the application time which are:

Identity Proofs such as PAN cards, Aadhar card
Address proof such as Driving license, passport copy, and utility bills
Age proof
Medical Reports
Income proof such as IT returns
Passport photographs

Exclusions for SBI Life Term insurance 50 Lakhs

Suicide: In case of policyholder’s death due to suicide, within 12 months from the inception date of risk under the policy or the revival date of the policy, the beneficiary/nominee of the life assured shall be eligible to at least 80 percent of the total premium paid till the death date or the surrender value (whichever is higher).

Note: Check out the best term insurance plan in India and choose one that suits your requirements.

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FAQs

Q: Is 50 lakh term insurance enough?

Ans: Yes, an SBI Life Term insurance 50 Lakhs is usually considered enough if you have limited financial dependents, are a young professional, or as a second term insurance. You can assess your human life value to see if 50 lakh is enough to cover your loved ones.
Q: What is SBI Life 50 lakh term insurance?

Ans: SBI Life Term Insurance 50 Lakhs is a term plan offering 50 lakh cover to the family of the policyholder in case of his/her untimely death during the policy term.
Q: Does SBI Life Smart Shield Plus offer 50 lakh?

Ans: Yes, you can get SBI life term insurance 50 lakh cover with the SBI Life Smart Shield Plus plan. You can choose the best plan option, get whole life cover, and customise the policy as per your individual needs.
Q: Who Should buy SBI term insurance 50 lakhs?
Ans: The following people should buy SBI Life Term Insurance 50 lakhs:
- Young professionals
- People with dependents
- Self employed customers
- People with large loans
- Parents with young kids

˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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