This plan does not offer any liquidity during the first five years of the contract. The policyholder will not be able to withdraw the money invested in this plan completely or partially till the end of the 5th policy year.
Do you wish to obtain protection at a low cost and also get assured benefits at the end of the term?
Avail twin benefits of savings andinsurance cover with SBI Life – CSC Saral Sanchay.
This plan provides –
Security –to protect your family financially in case of an eventuality
Reliability – of quarterly interest accruals to your policy account
Flexibility – to top-up your policy account
Simplicity –with on-spot insurance
Liquidity –partial withdrawals from 6th policy year
Small savings go a long way in helping you create a blissful life.
Quarterly interest additions throughout policy term
Aadhar based policy application process
Partial Withdrawal facility available from 6th policy year
Enjoy the dual benefits of protecting your family’s future and building your savings under one plan
Minimum floor rate of 1% per annum throughout the policy term to grow your money
Choose to invest additional funds in the same policy to build your corpus
Opt for a premium payment frequency as per your convenience
Ease of online application with your Aadhar Number
Walk into any CSC for on-spot issuance of your policy
Make partial withdrawals from 6th policy year to meet your liquidity needs
Avail tax benefits*
In the event of death of the life assured during the policy term, we will pay highest of A, B, C and D as defined below, provided the policy is in-force:
A. Sum assured
B. 105% of total premiums paid including top-up premiums paid till the date of death.
C. Total premiums paid including top-up premiums paid till the date of death compounded at 1.00% p.a.
D. Balance in your Individual Policy Account (IPA)
On survival of the life assured till the end of the policy term, we will pay the higher of A or B, where,
A. Total premiums paid including top-up premiums paid till the date of maturity compounded at 1.00% p.a. less partial withdrawals made, if any.
B. Balance in your IPA as on date of maturity.
Benefit, as stated above, would be payable only in case your policy is in-force at the end of the term.
Note: In case of death or maturity benefit, the balance in the IPA shall be reduced by the interest credited in advance for the remaining part of the quarter.
Tax deduction in respect of the premium paid is available under Section 80C of Income Tax Act, 1961. However in case the premium paid during the financial year exceeds 10% of the actual capital sum assured, the tax benefit will be limited up to 10% of the sum assured.
Tax exemption under Section 10(10D) of Income Tax Act, 1961 is available, subject to the premium payable not exceeding 10% of the actual capital 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.
For more details on the risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.
For more details on risk factors, terms and conditions of SBI Life – CSC Saral Sanchay, read the following documents carefully.
* All references to age are age as on last birthday.
1T.ver.02-06/17 WEB ENG
For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details.
You are eligible for Income Tax benefits/exemptions as per the applicable income tax laws in India, which are subject to change from time to time. You may visit our website for further details here. Please consult your tax advisor for details.