Key facts
What the official sources publish
Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.
Policy typeGroup, non-linked, non-participating, pure-risk, one-year renewable micro life-insurance productView source
The official page identifies Group Micro Shield as a one-year renewable micro life product.
- Source
- Life Group Micro Shield
- Page / section
- Product overview
- Accessed
- 23 Aug 2026
- Confidence
- high
UIN111N138V02View source
The official page publishes 111N138V02.
- Source
- Life Group Micro Shield
- Page / section
- Product overview
- Accessed
- 23 Aug 2026
- Confidence
- high
Eligible schemesLender-borrower, employer-employee and other non-employer-employee schemes; optional spouse cover at master-policyholder levelView source
The official overview lists eligible schemes and the optional spouse-cover benefit.
- Source
- Life Group Micro Shield
- Page / section
- Product overview
- Accessed
- 23 Aug 2026
- Confidence
- high
InsurerSBI Life Insurance Company LimitedView source
Life's official catalogue lists these individual and group products under Life Insurance Company Limited.
- Source
- Life online plans and group insurance catalogue
- Page / section
- Life plan catalogue
- Accessed
- 23 Aug 2026
- Confidence
- high
Entry age18 to 79 years (age at last birthday); maximum maturity age is 80 years.View source
The official eligibility table states entry age minimum 18 years and maximum 79 years, with maximum maturity age 80 years; age is as on last birthday.
- Source
- Life Group Micro Shield
- Page / section
- Who Can Buy — Eligibility Criteria
- Accessed
- 28 Aug 2026
- Confidence
- high
Basic sum assured₹5,000 to ₹2,00,000 per member; the aggregate sum assured across SBI Life group micro-insurance products is capped at ₹2,00,000 per group member.View source
The official table publishes Basic Sum Assured of ₹5,000 minimum and ₹2,00,000 maximum, and notes the aggregate cap for all Life group micro-insurance products.
- Source
- Life Group Micro Shield
- Page / section
- Who Can Buy — Eligibility Criteria
- Accessed
- 28 Aug 2026
- Confidence
- high
PremiumPremium per member is set according to the selected sum assured; yearly, half-yearly, quarterly and monthly payment modes are available. Applicable taxes are extra.View source
The official table lists yearly, half-yearly, quarterly and monthly modes and states that premiums per member are as per the selected minimum or maximum sum assured, exclusive of applicable taxes.
- Source
- Life Group Micro Shield
- Page / section
- Who Can Buy — premium modes and premium per member
- Accessed
- 28 Aug 2026
- Confidence
- high
Waiting periodNo separate waiting period is stated in the current policy document. Benefits commence on the member's Cover Start Date after receipt of the member premium; the separate suicide claim provision applies for death within 12 months in non-employer/
The policy states that benefits commence on the Cover Start Date after receipt of premium (clause 3.4.1) and separately sets a 12-month suicide provision for other schemes; it does not publish a general waiting-period number.
- Source
- Life Group Micro Shield Master Policy Document ( 111N138V02)
- Page / section
- Pages 1–2 customer information sheet (exclusion and commencement); page 19, clause 3.4.1
- Accessed
- 29 Aug 2026
- Confidence
- high
Key exclusionsFor employer-employee and compulsory groups, the suicide exclusion does not apply. For other schemes, suicide within 12 months from the member's Cover Start Date is not paid as the death benefit; the claimant receives 80% of premiums paid (excluding extra premium and taxes), provided cover is in force.View source
The customer information sheet and policy clause 10.3 distinguish employer-employee/compulsory groups from other schemes and specify the 12-month suicide provision and 80% premium payment.
- Source
- Life Group Micro Shield Master Policy Document ( 111N138V02)
- Page / section
- Pages 1–2 customer information sheet, clause 6.1; pages 23–24, clause 10.3
- Accessed
- 29 Aug 2026
- Confidence
- high
Grace period30 days from the premium due date for half-yearly or quarterly modes, and 15 days for monthly mode; no grace period applies to yearly premium mode. Cover remains in force during the applicable grace period.View source
The KYP sheet states 30 days for half-yearly/quarterly and 15 days for monthly modes, with no yearly-mode grace period.
- Source
- Life Group Micro Shield Master Policy Document ( 111N138V02)
- Page / section
- Page 2 customer information sheet, clause 7; page 20, clause 5.1
- Accessed
- 29 Aug 2026
- Confidence
- high
Free-look period30 days from receipt of the Master Policy Document or Certificate of Insurance, subject to written cancellation and the policy's refund deductions when no claim has been made.View source
The policy publishes a 30-day free-look cancellation window and proportionate risk premium, stamp duty and medical-expense deductions where applicable.
- Source
- Life Group Micro Shield Master Policy Document ( 111N138V02)
- Page / section
- Pages 2–3 customer information sheet; pages 7–8 free-look option
- Accessed
- 29 Aug 2026
- Confidence
- high
Policy chargesNo charges are listed under the non-linked Master Policy; applicable taxes, statutory levies, stamp duty and other stated expenses remain separate.View source
The document identifies the product as non-linked and does not publish a separate policy charge; taxes and statutory levies are payable as specified.
- Source
- Life Group Micro Shield Master Policy Document ( 111N138V02)
- Page / section
- Policy document schedule and charge terms
- Accessed
- 29 Aug 2026
- Confidence
- high
Geographic limitsLender-borrower, employer-employee and other non-employer-employee schemes; optional spouse cover at master-policyholder levelView source
The manually reviewed product record states: “Lender-borrower, employer-employee and other non-employer-employee schemes; optional spouse cover at master-policyholder level”.
- Source
- Life Group Micro Shield — official product page
- Page / section
- Published product metadata
- Accessed
- 23 Aug 2026
- Confidence
- high
Policy termOne-year renewable termView source
The manually reviewed product record states: “One-year renewable term”.
- Source
- Life Group Micro Shield — official product page
- Page / section
- Published product metadata
- Accessed
- 23 Aug 2026
- Confidence
- high
Benefits and features
- Affordable micro life cover
- One-year renewable term
- Optional spouse cover
Eligibility
- Master policyholder enrols eligible group members
Passing a listed condition does not mean the bank will approve an application.
Related official documents
SBI Life Group Micro Shield — official product pageofficial-product-page · current · accessed 28 Aug 2026
↗SBI Life Group Micro Shield Master Policy Document (UIN 111N138V02)official-policy-document · current · accessed 29 Aug 2026
↗SBI Life Group Micro Shield — official product pageofficial-product-page · current · accessed 29 Aug 2026
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