Life Insurances 345 views
Life insurance is a good financial tool to save your money and increase it for over the period of time. You can earn good returns on your saving and get more benefits on your earned money. You can buy a policy as per your requirements. There are various plans available in the market to choose from the options. You can choose a term plan, ULIP, endowment plan and other options according to your saving interest and future financial goals. The minimum investment tenure in the policy is 7 years and maximum time is 30 years. You can choose a plan and tenure as per your desired sum assured you want at the maturity of policy.
SBI offers SBI Life-Smart Money Planner is an individual, non-linked with profit endowment plan. It comes with added feature of guaranteed cash inflow at regular intervals. This policy is specially designed to meet your financial needs. It offers you financial support for fulfilling your long and short-term goals. By investing your money in this plan, you will get higher coverage and better protection. It will help in saving good amount in long-term.
Key features & benefits
- You will get regular income throughout the payment period specially tailored to suit your requirements.
- This is a perfect saving plan with an added feature of growth period.
- The policy also offers you life cover throughout the premium payment period, growth period and benefit payment period across the policy term.
- It also offers you facility to choose between the limited premium payment option and single premium option.
- It also provides you rebate for large sum assured
Death benefits: If the insured person die because of unfortunate sudden death in the event to death during the policy term, the nominees will receive benefits on the sum assured, vested simple reversionary bonuses and terminal bonus if any.
Survival benefits: On the survival of the assured during the benefit payout period you will receive regular payouts at the end of the each policy year. The amount will be similar to 20% of basic sum assured for 5 years according to the Plan 1 & 3. You will get 10% of the basic sum assured for 10 years under plan 2 & 4, excluding the final survival benefit payout installment.
Maturity benefit: On the survival till maturity of the policy, you will get vested reversionary bonuses plus, if any along with the final benefit installment. You will receive the guaranteed sum assured on the maturity of the policy. On the maturity of the policy plan you will get guaranteed assured sum on the maturity is 10% or 20% of the basic sum assured depending on the plan you have chosen.
Tax benefits: You can also enjoy tax benefits of maximum upto Rs. 1.5 lakhs per annum under Income Tax Act, 1961.
|Minimum age||18 years (For all plans 1, 2,3, & 4)|
|Maximum age||55 years (Plans 2,3 & 4)||60 years (Plan 1)|
|Age at Maturity||75 years (For all plans)|
|Plan Type||Single payment/ Limited premium|