SBI Life Insurance offers a plethora of beneficial, transparent, and effective insurance policies that ensure maximum returns for the policyholders at relatively low risks.
It is useful to note that SBI Life Insurance aims to cater to individuals’ financial needs from eighteen to sixty-five years. Additionally, the company is committed to furnishing a customized plan for salaried, professional, self-employed, and business individuals alike.
To get a first-rate gist of the quintessential SBI Life Insurance Plan, it may be useful to consider some of the key features of the policies:
- The SBI term Insurance plans provide a cover of up to Rs. 1 crore at the rate of Rs. 18 per day.
- A high claim settlement ratio is one of the major hallmarks of the SBI Life Insurance plans.
- The plans are especially remarkable for their facility of three-way grievance redressal procedure.
Apart from providing life insurance shields at largely competitive prices, the SBI Life Insurance provides other major insurance plans such as pension plans, child plans, unit-linked plans, group plans, and several endowment policies.
Here we shall focus on some of the relevant online plans of SBI Life Insurance Company.
SBI Life e-Shield
The following are some of the key highlights of the plan:
- As far as the SBI life eShield plan is concerned, it is specifically a non-participating and non linked plan. Apart from that, it provides customized benefits and security for families at viable costs.
- The plan also features rewards for maintaining a healthy lifestyle. Apart from that, the plan also has an Accidental Death Benefit.
- The minimum age of entry is eighteen years, and the maximum age on the date of maturity is seventy years.
- One of the most sought-after SBI Life Insurance plans, the policy has been a hit among insurance seekers. The minimum term of the policy is five years, while the maximum is thirty years.
- The basic sum assured of the plan is Rs. 30000.
SBI Life Smart Money Planner
The following are some of the key highlights of the plan:
- As far as the Smart Money Planner is concerned, it is an essential endowment plan with a money-back facility.
- Apart from providing the money back feature, the plan is extremely malleable in that it offers four options to choose from, each with a different policy term and premium payment mode.
- It is important to keep in mind that the plan shells out a fixed amount of the sum assured annually. On the date of maturity or death of the concerned insured, the plan provides a guaranteed sum assured additional bonuses.
- One of the most important things to note is that the plan allows the concerned policyholder to obtain a loan against the policy in case of an exigency.
- The minimum sum assured in this plan is Rs. 1 lakh, and the plan provides life coverage for up to seventy-five years of age.
SBI Life Smart Hamsafar
The following are some of the key highlights of the plan:
- As the name itself suggests, the plan necessarily caters to the financial needs of married couples.
- Essentially an endowment plan, it is a joint linked participating insurance policy. It caters equally and considerably to the financial needs of both husband and wife.
- SBI Life Smart Hamsafar plan offers death benefits either in the case of the husband or the wife. Also, there is a guaranteed minimum bonus for the first three years of the policy.
- Specifically speaking, the guaranteed minimum bonus for the first three years is at the rate of 2.50 percent of the basic sum assured amount.
- In case of death of any of the two policyholders, there is the benefit of a premium waiver. Also, the couple has an additional rider benefit at relatively affordable prices.
- It is important to underscore that the minimum sum assured in this plan is Rs. 1 lakh, and the minimum tenure of the policy is ten years.
SBI Life Smart Power
The following are some of the key highlights of the plan:
- According to the Smart Power plan of SBI Life Insurance, it is essentially a simple and low premium product meant to cater to the policyholder’s rather volatile needs.
- Launched in the year 2015, it has two options: level cover option and increased cover option.
- Additionally, the plan also has two fund options: the trigger fund option and the smart fund option.
- The latter has the option of choosing from a string of seven funds. The policy’s tenure in this plan is 10, 15, and 30 years, while the minimum age of entry is eighteen years and the maximum age of entry is forty-five years.
