SBI Life Insurance announced the launch of a unique new age protection solution called ‘SBI Life eShield Next’, which ‘levels up’ the protection coverage as the insured achieves life’s major milestones. This means that the policy is neither linked to the stock market nor shares any profit or dividends with the policyholders.
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It is an individual, non-linked, non-participating, life insurance pure risk premium product and works by ‘levelling up’ the required insurance protection, through an increase in sum assured linked to the significant ‘level-up milestones in one’s life, like getting married, becoming a parent or buying a new house.
Important takeaways for all competitive exams:
- SBI Life Insurance CEO: Mahesh Kumar Sharma;
- SBI Life Insurance Headquarters: Mumbai;
- SBI Life Insurance Founded: March 2001.