LIC's e-Term is a regular premium non-participating "on-line term assurance policy" which provides financial protection to the insured's family in case of his/her unfortunate demise. This plan will be available through on-line application process only and no intermediaries will be involved.
Under this plan, there are two categories of premium rates namely (1) Aggregate lives & (2) Non-smoker lives. For Sum Assured upto Rs. 49 lacs Aggregate category rates only would apply. For Sum Assured Rs. 50 lacs and above there is an option to choose differential premium rate for Non-smoker category. However, the application of Non-smoker rates shall be based on the findings of the Urinary Cotinine test. In all other cases the Aggregate premium rates shall be applicable.
SBI Life Insurance, which is backed by India's largest bank State bank of India, is ranked No 1 amongst the private life insurance companies in the new business premium collected. SBI Life Smart Shield Plan is a term insurance policy that offers a high coverage at an affordable premium. It is a pure term plan with no maturity benefits and offers only death benefit.
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