SBI Life - Saral Jeevan Bima | Life Insurance Protection Plans
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SBI Life - Saral Jeevan Bima

UIN: 111N128V01

Product Code: 2Q

SBI Life - Saral Jeevan Bima - Protection Plan

When it comes to securing your loved one's, trust us.

  • Standard Term plan –with Simple terms & conditions
  • Multiple premium payment options
  • Financial security for your family
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An Individual, Non-Linked, Non-Participating Life Insurance Pure Risk Premium Product.


This is a Standard, Individual term life insurance product that is specially designed for the first-time life insurance buyers.


If you want a simple plan to secure your family in the unforeseen event of your absence and you want to get it right the first-time itself, then SBI Life- Saral Jeevan Bima is the perfect product for you.


Avail the benefits of SBI Life- Saral Jeevan Bima


This Plan Provides - 

  • Simplicity - by providing standard terms and conditions
  • Affordability - through reasonable premium
  • Security - by ensuring that your family is financially protected
  • Flexibility – of paying premium once, regularly or for a limited (5/10 years) period

Highlights

SBI Life - Saral Jeevan Bima

SBI Life - Saral Jeevan Bima - Protection Plan

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Vineet, a shopkeeper by occupation, achieved his dream of becoming financially secure and protecting his family with this insurance coverage.

Fill in your details in the form fields below, and see how you too can benefit from SBI Life - Saral Jeevan Bima

Name:

DOB:

Gender:

Male Female Third Gender

Kerala Resident:

Yes No

Staff:

Yes No

Let's finalize the policy duration you are comfortable with...

Policy Term

5 40

Sum Assured

5,00,000 25,00,000

A little information about the premium options...

Premium Frequency

Premium Payment Option

Premium Payment Term


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Sum Assured


Premium frequency

Premium amount
(excluding taxes)


Premium Payment Term


Policy Term

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Features
  • Security for your family with a Standard term plan at an affordable cost
  • Ease of understanding with Standard terms and conditions
  • Convenience of paying premium once, regularly or for a limited (5/10 years) period.
  • Tax benefits* as per prevailing norms under the Income Tax Act, 1961.


*Tax benefits are as per Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.

Advantages

Simplicity
  • The product has standard terms and conditions making it easy to understand
Affordability
  • Avail protection plan at an affordable premium
Security
  • Financial security for you & your loved ones without any hassles
Flexibility
  • Pay premium once, regularly (every year of the policy) or for a limited period(5/10 years)
Death Benefit:
  • On death of the life assured during the policy term after the expiry of the waiting period or due to accident during the waiting period,the nominee/beneficiary will receive the Sum assured on death, in lumpsum which is:
    • For Regular & Limited Premium payment policies, it is Highest of
      A. 10 times the Annualized1 premium
      B. 105% of all premiums paid as on the date of death
      C. Absolute amount assured+ to be paid on death
    • For Single premium policies, it is Higher of
      A. 125% of Single premium
      B. Absolute amount assured+ to be paid on death
  • On death of the life assured due to other than accident, during the waiting period, the nominee/beneficiary will receive the Death Benefit, which is equal to 100% of all the premiums paid, excluding taxes, if any.
 
1Annualized Premium is the total amount of premium payable in a policy year, excluding taxes, underwriting extra premiums and loadings for modal premiums, if any.
 

+Absolute amount assured to be paid on death shall be an amount equal to Basic Sum Assured.

The premiums referred above shall not include any extra amount chargeable under the policy due to underwriting decision, if any.

Survival Benefit:

This plan provides no survival benefit.

Maturity Benefit:

This plan provides no maturity benefit.

Rider Benefits:

No rider benefits are available under this product.

For more details on risk factors, terms and conditions of the SBI Life - Saral Jeevan Bima, read the following documents carefully.

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^ All the references to age are age as on last birthday.
$$ Premium shown above are excluding applicable taxes and underwriting extra. Taxes will be applicable as per the prevalent tax laws
^^ For Monthly mode, upto 3 Months premium to be paid in advance and renewal premium payment through Electronic Clearing System (ECS) or NACH (where payment is made either by direct debit of bank account or credit card). For Monthly Salary Saving Scheme (SSS) upto 2 month premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction.

2Q.ver.02-02-21 WEB ENG

For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

*Tax Benefits:
Tax benefits are as per Income Tax Laws & are subject to change from time to time. Please consult your Tax advisor for details. You may visit our website for further details here.