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SBI Life - Saral Jeevan Bima
UIN: 111N128V02
Product Code: 2Q
A solution that offers you and your family, the independence to stay financially protected, even in unforeseen circumstances. SBI Life - Saral Jeevan Bima offers ease of understanding with standard terms and conditions.
Key Features –
- Security for your family with a standard term plan at an affordable cost
- Convenience of premium payment options**
- Tax benefits* as per prevailing norms under the Income Tax Act, 1961.
**Once, regularly or for a limited (5/10 years) period
Highlights
SBI Life - Saral Jeevan Bima - Protection Plan
- 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
- Avail protection plan at an affordable premium
- Financial security for you & your loved ones without any hassles
- Pay premium once, regularly (every year of the policy) or for a limited period(5/10 years)
- 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 premiumB. 105% of all premiums paid as on the date of deathC. Absolute amount assured+ to be paid on death
- For Single premium policies, it is Higher of
A. 125% of Single premiumB. Absolute amount assured+ to be paid on death
- For Regular & Limited Premium payment policies, it is Highest of
- 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.
+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.
This plan provides no survival benefit.
This plan provides no maturity benefit.
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.
2Q/ver1/11/23/WEB/ENG
*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. For further details, click here.