SBI Life - Saral Life, a traditional, participating endowment plan which helps you to meet any requirement in life and is designed with a difference…a take away insurance especially weaved for you with the threads of Simplicity, Availability & value for your money.
An unique savings cum insurance cover with easy acceptance.
Enrolment based on Simplified Questionnaire and Good Health Declaration.
Flexibility in Coverage - Sum Assured in options of Rs.1 lakh / Rs.2 lakhs / Rs.3 lakhs.
Customize you coverage period by choosing from 10/15/20/25 years, as per your requirement.
Tax benefits as per prevailing norms under the Income Tax Act, 1961.
Age at Entry**
Min: 18 years
Max: 60 years
Age at Maturity
Max : 70 years
Premium Payment Term
Same as Policy Term
Yearly / Half-yearly / Quarterly / Monthly***
Rs. 1 lakh/ Rs. 2 lakhs/ Rs. 3 lakhs
** All the references to age are age as on last birthday. ***For monthly mode, 3 months premium to be paid in advance and renewal premium payment is allowed only through ECS, Credit card, Direct debit and SI-EFT
Maturity Benefit:- On survival of the life assured, till the policy term, the Sum Assured along with the accrued regular bonus and terminal bonus (if any) is payable.
Death Benefit:- In case of unfortunate demise of the life assured within the policy term, the Sum Assured along with the accrued regular bonus and terminal bonus (if any) is payable to the nominee.
Tax deduction under Section 80(C) is available. However in case the premium paid during the financial year, exceeds 10% of the sum assured, the benefit will be limited up to 10% of the sum assured.
Tax exemption under Section 10(10D) is available, subject to the premium not exceeding 10% of the sum assured in any of the years during the term of the policy.
Tax benefits, are as per the Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details..
These are only summary of the product features. For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.