Buy Saral Jeevan Bima Yojana a Standard Term Insurance | SBI Life
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SBI Life - Saral Jeevan Bima

UIN: 111N128V01

Product Code: 2Q

SBI Life - Saral Jeevan Bima - Protection Plan

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loved ones,
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An Individual, Non-Linked, Non-Participating Life Insurance Pure Risk Premium Product.

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

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

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Policy Term

5 40

Sum Assured

5,00,000 25,00,000

A little information about the premium options...

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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.

SBI Life Saral Jeevan Bima plan
^ 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/ver2/08/22/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. For further details, click here.