SBI Life Saral Swadhan+ Term Plan
SBI Life Saral Swadhan+ Term Plan is an individual, non-linked, non-participating life insurance product with the return of premium features, offering fixed life cover throughout the entire policy term. In addition, it comes with several useful features and an add-on advantage of guaranteed maturity.
SBI Life Saral Swadhan+ Term Plan Features:
- This term plan by SBI offers fixed life cover for the entire policy term along with maturity benefits.
- It offers 100% or 115% of the total premiums paid on policy maturity, based on the policy term of 10 & 15 years, respectively.
- You get the flexibility to choose the premium amount you wish to pay; accordingly, your Life Cover is decided based on the entry age and policy term.
- The minimum entry age is 18 years, and the maximum is 55 years.
- Tax benefits are applicable as per the prevailing norms of the Income Tax Act 1961.
- The maximum maturity age is 70 years.
- The enrollment into the policy is simple as it is based on a simplified proposal form.
What will my family receive if I am not around anymore?
In case of the insured’s death within the policy term, the nominee of the policy will be receiving the sum assured, where the sum assured is higher of the following:
- Basic Sum Assured or
- 10 times of the annualized premium
- 105% of the total Premiums received till the date of death
Why should you choose the SBI Life Saral Swadhan+ Term Plan?
- To ensure that your family’s needs are met in case of an eventuality.
- To get back the premiums paid or money invested in the policy if you survive the policy term.
- To opt for the ideal policy term and premium payment options as per your convenience and financial capability.