Life is full of uncertainties and surprises. We never really know what life holds for us. We don’t have any way or method to know what will happen to us in the future. Your whole family depends on you both emotionally and financially. Now imagine what would happen if something tragic happens to you, Your family will have to face catastrophe without you. Of course no one can replace you from their life but who will support them financially ? The simple logical answer is Life insurance.
Life insurance offers you and your family financial protection. The life insurance plays a very important role for your family in your absence . One such insurance we will discussing is SBI life insurance. We will look at popular SBI life insurance plans, their benefits and finally you will be able to choose the best life insurance plan out of them.
SBI life insurance
SBI life insurance is one of the India’s leading Life insurance provider. SBI life insurance is a joint venture of BNP Paribas Cardiff, a French financial service provider and India’s largest financial service provider-SBI. SBI life insurance company’s headquarters is situated in Mumbai. The company was started in 2001 and now it has become One of the biggest insurance company in India. let us look at the SBI life insurance details
Different kinds of life Insurance Plans by SBI life:
SBI life has a lots of Life insurance plans for all kind of customers and their needs. Below are the Life insurance plans provided by the SBI life:
- SBI Life – eSheild Next:
- eSheild Next is an individual, non linked, non-participating life insurance plan. It is a modern age protection plan which gives boost to your Financial state. eSheild Next plan is simple and you can customize plans according to your needs. It is a whole life insurance plan which will cover you for 100 years. It gives three plans to choose-Level cover, Increasing cover and level cover with future proofing benefits.
- Smart Platina Plus:-
- Smart Platina plus policy is not only individual, non linked but also non-participating life insurance. This plans gives boost to you financially by making you a regular long term income by which you can enjoy your life a little bit more. You will get 110% of total premium at the end of policy term.
- eWealth Insurance:-
- SBI eWealth Insurance policy is an individual ,non-participating unit linked life insurance policy. Since it is unit linked policy, the policy holder is not allowed to withdraw the money invested in policy till the end of 5 years. You can buy this plan online in simple three steps and it has nominal premium payments so it is affordable.
2. Saving plans
- SBI- New Smart Samriddhi:-
- New Smart Samriddhi provides protection to you and your family against any unfortunate accidents or events. It is an individual, non-linked, Non-participating life insurance plan. This plan has a reasonable premium payment. You will receive benefits for up to 15 years just by paying premium for 7 years.
- SBI Life- Smart Future Choices:-
- Smart future choice is very simple and flexible policy. The minimum annual premium is ₹10,00,00. The main feature of this policy is that you can withdraw cash bonus every year until the policy term expires. it is an individual, non-linked, non-participating life insurance plan. You can also choose how you can withdraw death benefits- monthly, quarterly, half yearly, yearly or lumpsum.. You will get tax benefits under tax exemption rule 80c. The minimum entry age is 18 years and maximum entry age is 50 years.
- SBI Life- Smart Bachat:-
- Smart bachat policy gives you flexibility to choose the premium term- 5 years, 7 years, 10 years and 15 years. When an insured person is permanently disabled then all the future premium payments are are waived off and the policy will keep on protecting the person. With the help of SBI-Life Smart Bachat you can accumulate savings for your financial needs at every stage of your life. It also provides two options: Endowment option and endowment option with in built accidental death and total permanent disability benefits.
3. Retirement plans
- SBI life – Retire Smart:-
- SBI Life Retire Smart is an individual, unit-linked, non-participating pension saving policy. The policy holder can pay the premium one time or they can pay it regularly over a period of time. The benefits of Retire Smart plan are:
- Maturity benefits:- On completion of policy term, the policy holder receives 101% of the total premium paid.
- Death Benefits:-On death of policy holder while the policy is still running then the nominee will get 105% of the total premium paid up to the death of the insured person. The nominee can receive the death benefit in term of lumpsum or they can by annuity from SBI life insurance or from any other insurer.
2. SBI Life- Saral Retirement Saver:-
- Retirement is the next phase of your life and to make it smooth and hassle free you need a better financial support. Saral Retirement Saver plan is the policy which you can use to save money after your retirement. It is an Individual, non linked, participating, saving life insurance plan. The benefits of this plan are:-
- Maturity Benefits:- On reaching maturity the policy will give the insured person, basic sum insured along with simple revisionary bonus plus terminal bonus.
- Death Benefits:- In case the policy holder dies during the policy term then nominee will get 105% of total sum insured till the death of policy holder or it will be higher of total premiums along with revisionary and terminal bonus.
For more queries:-
SBI customer care:-
1800 11 1109(Toll free)