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
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.
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 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.
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.
^ 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.
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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 may visit our website for further details here.