SBI Life Shield Used as Key man:

SBI Life – Shield Used As Key-man is an insurance policy that is designed to provide security for people who are involved in business, or industry. 

The definition of a key-man is that he is the main person running the business and is the reason behind the profitable running of the business.  This key-man’s presence is so important that in the case of his absence the business would reach a standstill.

This policy is otherwise known as the key-man insurance plan which is bought so as to secure the business against losses if the key-man dies.

By buying SBI Life – Shield Used As Key-man you have the advantages of,
That if you want to buy this policy, there are certain age limits that you have to satisfy. 

You have to be at least eighteen years of age to buy the policy, and you should not be over sixty years if you are planning to buy this policy.

The policy term ranges from five years to twenty five years.  This is the policy term limit and you can buy a policy within that limit, or you can extend it up to your retirement.

You have the benefit of two ways of paying your premium.  Either you can choose to pay the single premium payment as a lump sum, or you can pay it in regular payments of quarterly, half yearly or annually.  There is no monthly payment of premium available in this plan.

If you are taking this plan for insuring the life of a person the minimum sum assured can reach up to rupees ten lakhs, and it will be paid in installments of rupees ten thousand each.

If you are planning to insure a corporate, the maximum sum assured will depend on the maximum sum assured in the plan that has been opted for.

According to this plan, the maximum sum assured should be less than five times of the net profit earned by the company in the last three years and the sum assured should also be less than three times the gross profit earned by the company in the last three years.

SBI’s Life Shield Used As Key-man is a full and full plan tailor made for business people in securing their corporate and is the best option if you want to secure your business against losses in the market.