SBI Life Shubh Nivesh - Best Endowment Policy | Whole Life Insurance
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SBI Life – Shubh Nivesh

UIN: 111N055V03

Product Code: 35

SBI Life Shubh Nivesh Endowmewnt Plan

Choose to stay protected for life.

  • Add-on benefit of whole life insurance
  • Optional Benefit of Regular flow of income
  • Three rider options
Non- linked, with profit Endowment Assurance plan

Have you started building a financial corpus to support the life of your dreams?

Now avail insurance coverage and kick-start your wealth creation journey through systematic savings. SBI Life – Shubh Nivesh, a with-profit endowment assurance plan, provides insurance cover, savings and income under a single plan.

This savings plan offers –
  • Security – ensure your family is financially secure
  • Reliability – with simple reversionary bonuses throughout the policy term
  • Flexibility – through two plan options and option to receive regular income with DMP (Deferred Maturity Payment)
  • Affordability – through rider benefits at an affordable cost

Try our benefit illustrator below and let us help you secure you and your family.

Highlights

SBI Life Shubh Nivesh traditional Insurance Plan

Non- linked, with profit Endowment Assurance plan

Dinesh, a 47-year-old professor, has opted for an endowment plan with whole life coverage to take care of his family’s financial needs and stay protected for life.

Change the form fields below to see how you too can live a tension-free life with SBI Life – Shubh Nivesh.

Name:

DOB:

Gender:

Male Female

Discount:

None Staff

J & K Resident

Yes No

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

Policy Term

5 30

Plan

Endowment Option
Endowment with whole life Option

A little information about the premium options...

Premium Frequency

Sum Assured

75,000 25,00,00,000

Let's finalize the rider options...

SBI Life - Preferred Term Rider (UIN:111B014V02):

Term for preferred Term Rider

5 30

Preferred Term Rider Sum Assured

25,000 50,00,000

SBI Life - Accidental Death Benefit Rider (UIN:111B015V02):

Term for ADB Rider

5 30

ADB Rider Sum Assured

25,000 50,00,000

SBI Life - Accidental Total & Permanent Disablity Benefit Rider (UIN:111B016V02):

Term for ATPDB Rider

5 30

ATPDB Rider Sum Assured

25,000 50,00,000

Reset

Sum Assured


Premium frequency

Premium amount
(excluding taxes)


Premium Payment Term


Policy Term


Maturity Benefit

At assumed rate of returns** @ 4%


or
@ 8%

Give a Missed Call

Features


 
  • Avail life cover for up to 30 years or whole life depending on your insurance needs
  • Simple reversionary bonuses throughout the policy term
  • Two plan options – endowment option and endowment with whole life option
  • Option to receive the basic sum assured as a lump sum or as regular income, at maturity
  • Get comprehensive coverage at an affordable cost with three rider options

Advantages

Security

  • Protect your family and empower them to fulfil their aspirations
  • Helps you reach your financial goals

Reliability

  • Build your corpus through regular simple reversionary bonuses throughout the policy term

Flexibility

  • Two plan options to provide you with life coverage to meet your financial needs
  • Option to receive regular income to suit your financial requirements

Affordability

  • Enhance your coverage through three rider options at a nominal cost
    • SBI Life - Preferred Term Rider
    • SBI Life - Accidental Death Benefit Rider
    • SBI Life - Accidental Total and Permanent Disability Benefit Rider

Avail tax benefits*

Maturity Benefit:

Depending upon the plan option chosen:

Endowment Option
  • After completion of endowment term, the Basic Sum Assured + Vested Simple Reversionary Bonuses + Terminal bonus, if any will be paid, provided the policy is in-force
  • Deferred Maturity Payment option is available: Can be selected at the end of the endowment term
Endowment with Whole Life Option
  • After completion of endowment term the Basic Sum Assured + Vested Simple Reversionary Bonuses + Terminal bonus, if any will be paid, provided the policy is in-force
  • Deferred Maturity Payment option is available: Can be selected at the end of the endowment term
  • On attainment of 100th birthday: Basic Sum Assured will be paid
Death Benefit:

In the unfortunate death of the Life Assured, depending upon the plan option chosen:

Endowment Option:
  • Death before the completion of endowment term provided the policy is in-force :
    • For Regular Premium: Higher of A or B is paid to the nominee, where:
      • Sum Assured on death + Vested Simple Reversionary Bonuses
        + Terminal bonus, if any.
        Sum assured on death is higher of Basic Sum Assured or a multiple of annualised premium; where multiple is:
        Policy Term Age at entry of Life Assured less than 45 years Age at entry of Life Assured 45 years or more
        Less than 10 years 5 5
        10 years or more 10 7
      • 105% of all the premiums paid.
    • For Single Premium: Sum Assured on death +Vested Reversionary Bonuses + Terminal bonus, if any, is paid to the nominee
      Sum assured on death is higher of Basic Sum Assured or a multiple of single premium; where multiple is:
      Age at entry of Life Assured < 45 years Age at entry of Life Assured >= 45 years
      1.25 1.10
Endowment with Whole Life Option
  • Death before the completion of endowment term provided the policy is in-force:
    • Death Benefit as defined under point 1 of Endowment option, will be paid to the nominee.
  • Death after completion of the endowment term and up to 100 years of age:
    • Basic Sum Assured benefit will be paid to the nominee.
    • Balance amount of Deferred Maturity Payment Option, if availed and if any, will be paid to the nominee. However, the nominee has an option to take the remaining instalments in lump sum which will be equal to the discounted value of the remaining instalments.
Other Benefits

Deferred Maturity Payment Option:
You can use this option to get income at regular intervals. At the end of the endowment term you can either withdraw the full sum assured along with accumulated bonuses or you can withdraw only the bonus, leaving the basic sum assured to be drawn as income at regular intervals over a stipulated time period of 5 , 10 , 15 or 20 years. Income will be paid at a frequency (Yearly/Half-Yearly/Quarterly/Monthly) of your choice.

Three Rider Options: -
SBI Life - Preferred Term Rider (UIN: 111B014V02): The Preferred Term Rider Sum Assured is payable in addition to normal death benefit
SBI Life - Accidental Death Benefit Rider (UIN: 111B015V02): In case of death due to an accident, the rider Sum Assured is payable in addition to normal death benefit
SBI Life - Accidental Total and Permanent Disability Benefit Rider (UIN 111B016V02) The rider Sum Assured will be paid on the Life Assured being found eligible for the Total Permanent Disability Benefit as defined in the policy document.

^All the references to age are age as on last birthday.
#For Monthly mode, 3 Months premium to be paid in advance and renewal premium payment through Electronic Clearing System (ECS) or Standing Instructions (where payment is made either by direct debit of bank account or credit card)
For Monthly Salary Saving Scheme (SSS), 2 month premium to be paid in advance and renewal premium payment is allowed only through Salary Deduction

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**Assumed rates of returns @4% and @8% p. a. respectively, are only illustrative scenarios at these rates after considering all applicable charges. The bonus rates are assumed constant during the bonus accrual period, where as actual bonus could vary, depending on the investment experience of the Company. These are not guaranteed and they are not higher or lower limits of returns. Returns are dependent on a number of factors including future investment performance.

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

*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 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.

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