Frequently Asked Questions
What is claim settlement ratio and why does it matter?
CSR is the percentage of claims an insurer pays out of total claims received. Higher CSR (>95%) means the insurer is reliable. We track this data for every insurer.
How much health insurance cover do I need?
Minimum ₹10L for individuals, ₹25L+ for families in metros. Medical inflation runs at 14% annually — what costs ₹5L today will cost ₹20L in 10 years.
What is the waiting period for pre-existing conditions?
Most health insurance plans have a 2-4 year waiting period for pre-existing conditions. Some plans offer lower waiting periods at higher premiums.
Is the premium tax deductible?
Yes. Health insurance premiums qualify for deduction under Section 80D — up to ₹25,000 for self (₹50,000 for senior citizens), plus ₹25,000-₹50,000 for parents.
Can I switch my insurance provider?
Yes, health insurance is portable from the 2nd year. Your waiting periods carry over to the new insurer. File portability request 45 days before renewal.
What documents are needed to file a claim?
Typically: hospital bills, discharge summary, doctor prescriptions, policy copy, ID proof. Cashless claims need pre-authorization from the TPA/insurer.
SBI Life eShield Insta
SBI Life
SBI Life's instant-issue term plan — no medical tests, fully digital, fixed 10-year term, entry age 18-50. Choice of Plan A (pure term) or Plan B (return of premium — 100% of premiums paid back at maturity if the life assured survives the term). Cover is capped at ₹60L and the term is fixed at 10 years, making this a fast-issue entry product rather than SBI Life's highest-cover flagship (Smart Shield offers larger cover and longer terms).
Cover Amount
₹1 Crore
Premium
₹500/month
Claim Ratio
98%
Type
Life
What's Covered
- Death Benefit
- Terminal Illness
- Accidental Death
Key Features
- No medical tests, fully digital issuance
- Return-of-premium option available
- 30-day grace period on yearly premiums
What's Not Covered
- Suicide within 1 year
- Pre-existing conditions
Pros
- No medical tests, fully digital issuance
- Return-of-premium option available
- 30-day grace period on yearly premiums
Cons
- Cover capped at ₹60L — not suitable as a sole large-cover policy
- Fixed 10-year term only, no flexibility
- Entry age capped at 50
SBI Life eShield Insta
SBI Life eShield Insta by SBI Life offers ₹1 Crore coverage with a 98% claim settlement ratio. Reliable protection for you and your family.
Similar Products
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Bajaj Life Insurance's (formerly Bajaj Allianz Life) online term plan with a 99.33% claim settlement ratio for FY 2025-26, and 93.94% of claims settled within 30 days. Covers death and terminal illness, with future premiums waived on diagnosis of Accidental Total Permanent Disability or terminal illness. Cover available to age 99. Three variants: Life Shield, Life Shield Plus, and Life Shield ROP (return of premium). Early-exit option returns the higher of premiums paid or the policy's termination value.
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Pure term cover with the highest CSR among private insurers (98.6% in IRDAI's FY24-25 report). Premium for ₹1 Cr at age 30: ₹620/mo.
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Comprehensive family floater plan with 100% restoration on same-illness claims (a rarity in 2026). No co-pay up to age 60.
CompareWas this article helpful?
Eligibility
Age Requirement
18 - 65 years
Required Documents:
- ID Proof
- Address Proof
- Medical Reports
Important
Insurance is subject to terms and conditions. Please read the policy document carefully before buying.
Frequently Asked Questions
What is claim settlement ratio and why does it matter?›
How much health insurance cover do I need?›
What is the waiting period for pre-existing conditions?›
Is the premium tax deductible?›
Can I switch my insurance provider?›
What documents are needed to file a claim?›
Secure Your Future with SBI Life eShield Insta
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