SBI Life - E - Shield: MTNL Employees

SBI Life – E -Shield
MTNL Employees
Only for Internal Circulation

What is Insurance & Risk?
What is Insurance?
Insurance is an arrangement by which a
company undertakes to provide a
guarantee of compensation for a
specified loss, damage, illness, or death
in return of payment in form of
premium
What is Risk?
A situation where
the “probability of event” is known,
but
“mode/timing/actual value” of
occurrence is not known
2
Why is Protection Required?
We Need Financial Protection Against The Possibility (Risk) Of

Loss Or Reduced “Income / Savings”
Income
Earning Future Savings
Capacity
3
ASSETS FOR US !
Emergency fund - health care Monthly

Marriage Expenses Expenses/ Savings
Income
Good life style Child Education
Saving for Buying House

Retirement
Loans (vehicle / furniture etc.)
When we are there we take care to ensure all needs/ luxuries for ourselves & our
loved ones……….
4
LIABILITIES FOR OUR LOVED ONES?
Emergency fund - health care

Monthly
Marriage Expenses Expenses/ Savings
Income Child
Education
Good life style
Saving for Buying House

Retirement
Loans
But, what happens when we are not there ?

5
Why Term Plan is a Must for All ?
Security for your family in case of unexpected event
A risk cover instrument which protects the increasing financial needs
Protection against Loan Liability
Insurance at an affordable cost
Tax Benefits as per Income Tax Act, 1961
*Tax benefits are as per prevailing Tax laws & are subject to change from time to time.
6
SBI Life - About Us
7 7
Introducing “SBI Life – eShield”
8 8
Key Features of the plan
Faster, Simpler, Easier online process for securing life cover
Security for your family at an affordable cost
The benefit amount (which is the sum assured) is payable in case of

(a) unfortunate event of death or
(b) diagnosis of terminal illness,
whichever is earlier and the policy terminates
Option to enhance your coverage through following riders:

• SBI Life – Accidental Death Benefit Rider
• SBI Life – Accidental Total & Permanent Disability Benefit Rider
Tax benefits* as per prevailing norms under the Income Tax Act, 1961
*Tax benefits are as per prevailing Tax laws & are subject to change from time to time.
9
….Features continued
Benefit Structure Level Cover
Age at Entry Min: 18 years Max: 65 years
Age at Maturity 80 years
Sum Assured
(in multiples of Rs Min: Rs. 35 Lakhs Max: No Limit
1,00,000)
Policy Term Min : 5 years Max : 80 years – Age at Entry
Premium Payment
Same as Policy term
Term
Premium Mode Yearly/ Half Yearly/ Quarterly / Monthly
The Premium Amount* & Benefit Amount will remain same throughout
the policy term
* Subject to applicable taxes
^ All the references to age are age as on last birthday
10 10
Monthly Premium Rates for Non-Smoker
(Amount in Rs.)
Sum Assured - 50 Lac Sum Assured - 1 Crore
Age Policy Term (in years) Policy Term (in years)

(in yrs) 10 15 20 25 30 35 40 10 15 20 25 30 35 40
35 439 476 549 641 747 874 1,025 741 817 854 1,125 1,322 1,556 1,832
40 573 662 778 911 1,069 1,258 1,478 991 1,159 1,374 1,620 1,913 2,265 2,674
MALE 45 825 960 1,122 1,319 1,557 1,838 - 1,459 1,710 2,011 2,376 2,816 3,336 -
50 1,199 1,384 1,625 1,924 2,278 - - 2,144 2,489 2,936 3,492 4,149 - -
55 1,690 1,982 2,356 2,808 - - - 3,050 3,590 4,285 5,121 - - -
35 402 429 488 563 653 758 886 668 724 831 969 1,132 1324 1,554
40 514 583 677 790 923 1,083 1,271 871 1,003 1,177 1,379 1,620 1,912 2,255
FEMALE 45 725 833 967 1,133 1,335 1573 - 1,254 1,454 1,700 2,001 2,369 2,805 -
50 1,035 1,188 1,392 1,644 1,946 - - 1,819 2,101 2,469 2,929 3,480 - -
55 1,449 1,690 2,006 2,392 - - - 2,568 3,010 3586 4,286 - - -
Note: The above mentioned premium rates are inclusive of applicable taxes
11 11
Plan Benefits
Death Benefit
The nominee will receive the “Sum assured on Death”
Accelerated Terminal Illness Benefit

• On the Life Assured being diagnosed with terminal illness, the benefit equal to the
Sum Assured is paid and the policy will terminate
• Terminal illness is defined as the conclusive diagnosis of an illness that is expected
to result in the death of the life assured within 180 days
Medical Second Opinion
• A service which enables the life assured, to receive second opinion of their diagnosis
and treatment plans by another doctor
• This will help you to get medical second opinion from TPA -“Mediguide India”
12 12
Offering Two Riders
Comprehensive coverage with 2 rider options at reasonably small cost
• SBI Life - Accidental Death Benefit (ADB) Rider : This rider provides additional benefit equal
to rider sum assured if the death occurs as a result of an accident.
• SBI Life - Accidental Total & Permanent Disability Benefit (ATPD) Rider : The rider provides
additional benefit equal to rider sum assured on total & permanent disability due to an
accident.
Example
Mr. X, 40 years aged, male, non-smoker, opts for a 30 years policy term:
SBI Life
Amount in Rs. ADB Rider ATPD Rider Total
eShield
Sum Assured 50 Lac 30 Lac 30 Lac NA
Monthly Premium
1,067 158 126 1,351
(Incl. Taxes)
Only for Internal Circulation 13 13

Broad Guiding Rule for Insurance Coverage
As a guiding rule, you may consider to buy insurance under this scheme in
such a way that your total Individual Insurance Cover is as follows:
Multiple applied on Annual Income

Age Group
(i.e. Annual Gross Salary)
18-35 yrs 20
36-50 yrs 15
51-65 yrs 12
Total insurance cover = Existing insurance cover plus new insurance cover intended
under this scheme
14 14
Other Plan Details
No Maturity Benefit and Surrender Benefit is available under this plan
No Loan Facility available under this plan
A Grace Period of 15 days from the premium due date is allowed. The
policy will remain in force during the grace period
A lapsed policy may be revived within 2 years from the date of the
first unpaid premium
15 15
Unique Features for MTNL Employees
Online purchase & Proposal Form fill-up made simple
Just a click on “SBI Life E Shield” Banner placed on MTNL Intranet and land on the
Purchase Journey specially designed for MTNL employees
Requirement of medical examination is simplified
Regular medical check-up will be conducted without any cost at SBI Life empanelled
diagnostic centre that is near to the employee location.
16 16
Claims Process
SBI Life will directly pay the claim amount to the appropriate beneficiary
You can exercise any of the following option (whichever is convenient

for you) to intimate a claim to SBI Life:
A Nodal Officer from MTNL can liaise between the claimant and
SBI Life for speedy processing of death claims
The claimant can directly visit any of our SBI Life Branches and
submit the claim
The claimant can file claim through SBI Life online platform
The claimant can send the claim documents by Post
17 17
THANK YOU
18
JOURNEY
SBI Life eShield Product Banner on MTNL Intranet

Employee Login Page
SBI Life eShield Premium Calculator Page
Proposal Form Fill up Journey
E Sign via OTP Verification

Underwriting Decisions
Acceptance
at ordinary
rates
Decline
or
postpone
Acceptance
Underwriting with an
Decisions extra
Back
20

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SBI Life – E -Shield

Only for Internal Circulation

We Need Financial Protection Against The Possibility (Risk) Of

Emergency fund - health care Monthly

Saving for Buying House

Emergency fund - health care

Saving for Buying House

But, what happens when we are not there ?

Security for your family in case of unexpected event

A risk cover instrument which protects the increasing financial needs

Protection against Loan Liability

Insurance at an affordable cost

Tax Benefits as per Income Tax Act, 1961

Faster, Simpler, Easier online process for securing life cover

Security for your family at an affordable cost

The benefit amount (which is the sum assured) is payable in case of

Option to enhance your coverage through following riders:

Benefit Structure Level Cover

Age at Entry Min: 18 years Max: 65 years

Age at Maturity 80 years

Age Policy Term (in years) Policy Term (in years)

Accelerated Terminal Illness Benefit

Medical Second Opinion

Sum Assured 50 Lac 30 Lac 30 Lac NA

Only for Internal Circulation 13 13

Multiple applied on Annual Income

No Maturity Benefit and Surrender Benefit is available under this plan

No Loan Facility available under this plan

Online purchase & Proposal Form fill-up made simple

Requirement of medical examination is simplified

You can exercise any of the following option (whichever is convenient

The claimant can send the claim documents by Post

SBI Life eShield Product Banner on MTNL Intranet

SBI Life eShield Premium Calculator Page

Proposal Form Fill up Journey

E Sign via OTP Verification

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