Below are the confirmations I have while buying SBI life insurance:
1. Does this policy cover all types of death (excluding suicide within one year from the risk commencement date), in particular
1. Terrorist Attack
2. War
3. Natural Disasters like earthquake/tsunami
2. What kinds of deaths are not covered in this policy?
Under the eShield Level Cover plan all types of deaths are covered. However, there is only 1 exclusion i.e. Suicide within a 1 year from the Date of Commencement. After 1st policy year, we cover suicide death also.
3. Will the nominee get assured sum if my death happens abroad? Or, Will this policy apply if the death is outside India?
Nominee will get basic sum assured. Kindly note Claim settlement is subject to assessment of claim.
4. Can SBILife change the Premium anytime after the policy is issued?
Once the policy issued your premium will remain same excluding the service tax portion.
5. Can SBILife change the "Terms and Conditions" of the policy after the policy issue? Or, Does the "Terms and Conditions" remain same through out the policy?
Policy terms and condition will remain same once your policy is issued.
6. Is the SUM assured tax free?
Yes, sum assured is tax free under section 10(10D)
7. What if the policy holder becomes a smoker/alcohol consumer after some years of taking the policy?
At the time applying for this policy, proposer has to mention all the correct details in the proposal form. If he becomes a smoker or consume alcohol , the Death Benefit will remain unchanged.
8. Will this policy have any impact/possibility of impacting about the claim settlement, if I buy another Policy in the future from any vendor (SBILife or any other)?
Whenever you apply for insurance cover at any of the company , you need to provide the previous life insurance details. On the basis of that information, you get the added life cover.
9. I am wearing spectacles, should I mention about it anywhere while applying for policy?
Not needed.
10. Should I write my father name as mentioned on my SSC certificate or as on Ration Card?
At the time of applying for this policy customer has to mention all the correct details. You write correct father name and accordingly you should have name proof of the same.
11. My Surname on the PAN card has spell mistake (in place of ADBCD its written as AABCD), should I declare/mention about that?
The name in proposal form and the name in PAN card should be matched. If your name on PAN is not correct then you need to get it corrected before applying for the policy.
12. I would like one of my brother to be my nominee, he stays rented in Hyderabad but different from where I stay. However, our Permanent address is same. Can I mention Nominee address is same as the policy holders?
Yes, proposer can mention the same address. We require proposer’s communication as well as permanent address proof.
13. In nominee details, Landline number is marked as mandatory but in my case my nominee/brother doesn’t have a landline. Can I give my landline in this case?
Yes, you can mention your landline number.
14. I don’t have the parents age exactly with me (need to search the old documents), so can I mention the approximate values? Also, does it needs a any proof now or in the future?
You have to mention the correct age of your parents at the time filling up the proposal form.
15. In Qualification section, there is a mention of both Graduate and Engineer that applies for me. I am graduated and working as an IT-Technical Architect. Which one should I choose?
You can select Engineer in qualification section.
16. Will I be able to change any of my details later, online?
Once policy is issued no changes can be done except address change & nominee change.
17. Can I have SBI Life eShield policy covering my family (my wife and myself)? Or is it only available for individuals?
e-shield is plan is available for individuals only.
Further for any enquiry please write back to us at [email protected] or call us on 1800-22-5354.
