Best 5 SBI Life Insurance Plans In India For 2022
Making New Year resolutions won’t be a solution for your financial security. You need a proper life insurance plan to secure your family’s future, as you enter the year 2022. There is nothing better than buying an SBI life insurance policy. SBI Life Insurance is a popular joint venture between the State Bank of India (SBI) and BNP Paribas Assurance. All the term insurance plans offered by SBI aim to offer a comprehensive life insurance cover at affordable prices.
Whether you are a self-employed, salaried, business, or professional person, there is a suitable SBI insurance policy for you customized as per your needs. Some of the common advantages of buying an SBI term insurance are first, they offer a high claim settlement ratio. Secondly, most of the SBI policies offer coverage of up to Rs. 1 crore. Lastly, the best plans of the company work on a 3-way grievance redressal procedure.
Most of the SBI life insurance plans are offered to people with a minimum age of 18 years and maximum age of 65 years. Not all SBI Policies are of minimum 5 years tenure, there are variations available too.
Let us read about the SBI life insurance policy details of the best 5 SBI policies in India for 2022.
Top 5 SBI Policies in India for 2022
SBI offers a plethora of life insurance policies but we have hand-picked the best ones for you in 2022. Here is a list of the best SBI Life Insurance Plans for 2022:
1. SBI Life – CSC Saral Sanchay
This is a non-linked and joint-life endowment plan designed to offer the customer the various benefits of savings along with an apt life insurance cover. This plan aims to offer the customer save for future goals and aspirations.
Some SBI life insurance policy details of this plan are:
- Anyone aged between 18 years and 60 years can purchase this SBI insurance policy.
- This plan offers a fixed interest rate of 1.00% pa throughout the policy tenure.
- It offers the facility of partial withdrawals and additional benefits on the policy maturity in case of the death of the life insured.
2. SBI Life – eShield
It is a non-participating, individual, and non-linked SBI Term Insurance plan designed to allow individuals to live a healthy lifestyle. SBI Life – eShield plan comes with customized benefits for customers who are keen to grab financial security for the family at reasonable rates.
SBI life insurance 5 years plan details of this plan are:
- The minimum entry age for the plan is 18 years, and the maximum entry age is 70 years
- This SBI term insurance plan can be availed for a minimum policy tenure f 5 years and maximum policy tenure of 30 years
- This plan offers a basic sum assured of Rs. 20,000
- This plan comes with an Accidental Death Rider Benefit
3. SBI Life – Smart Humsafar
Designed especially for married couples, this SBI insurance policy allows them to prosper amidst protection. This one is a non-linked joint-life endowment plan offering multiple benefits of insurance as well as savings for both the husband and wife. Amidst all the SBI policies, this one is the first preference of young couples.
Some of its features are:
This plan offers financial protection in the case of death of both or either of the lives insured.
- This SBI insurance policy offers a guaranteed bonus at the rate of 2.50% of the basic sum assured for the initial 3 years.
- It offers a premium waiver in the event of the death of any of the lives insured.
- The minimum policy tenure of this plan is 10 years
- The maximum basic sum assured in this SBI term insurance plan is Rs. 1,00,000
4. SBI Life – Smart Money Planner
This is a money-back plan designed to enable the customer to avail maximum benefits of savings, as well as income, and an apt insurance cover for self and the family.
SBI Life Smart Money Planner is a non-linked endowment policy with multiple features.
Some of its features are:
This SBI life insurance policy is available in four different options, each having different premium payment modes and different policy tenures
- Provides an annual fixed amount of the sum assured during the benefit period, as part of its money back policy.
- The plan permits you to get a loan against the policy in case of an emergency.
- The minimum basic sum assured in this SBI term insurance plan is Rs. 1 lakh.
- The plan offers life coverage till the age of 75 years
- Guaranteed sum assured is offered along with other additional bonuses in case of death of the life insured or on plan maturity.
5. SBI Life – Smart Power
It is an uncomplicated and low premium SBI term insurance plan that is well-suited to the different needs of the customer.
Some interesting features of this plan are:
This SBI term insurance is available at a minimum age of 18 years and maximum age of 45 years, while the maximum maturity age of this plan is 65 years
- This plan is available in a policy tenure of 10 years, 15 years, and 30 years.
- This SBI life term insurance plan is available in two different variants (Increasing Cover Variant and Level Cover Variant)
- It comes with two different fund options. Smart Fund Option allows picking from 7 funds. Trigger Fund Option to enjoy the benefit of buying at a low price and selling off at a higher price.
The Bottom Line
If you want that your family doesn’t get affected financially even in your absence, then do consider purchasing any of these best 5 SBI life insurance plans in India in 2022. However, never purchase any of these above-mentioned plans without checking the SBI life insurance policy details from the insurer. Pick the one that offers maximum benefits and covers you and your family in the best possible way.