SBI Life Insurance Co. Ltd
SBI Life Insurance is one of the leading life insurers in India. It is a joint venture between the State Bank of India (SBI) and BNP Paribas Assurance based in France. SBI owns 74% of the total capital and the remaining is owned by BNP Paribas Assurance.
State Bank of India is India' biggest bank and also counted among the biggest in Asia. It has seven associate banks. It is the bank with the biggest number of branches and network. It has more than 14,500 branches across the country.
SBI Life Insurance uses the extensive network of State Bank of India to sell its life insurance products. It offers all types of insurance products like home, car, and personal loans.
Investment Plan -SBI Life - Saral Life
|Minimum Sum Assured||100000|
|Maximum Sum Assured||300000|
|Minimum Entry Age||18|
|Maximum Entry Age||60|
|Maximum Maturity Age||65|
|Paying Term||10/15/20/25 years|
|Payment Frequency||Yearly / Half-yearly / Quarterly / Monthly***|
|Exclusions||If the person commits suicide within 12 month from the date of issue of the policy or the date of any reinstatement of the policy, the policy will become null and void. However, an amount may be payable on ex-gratia basis depending upon the merit of the case.|
|Surrender Value||After completion of 3 years|
|Tax Implications||Yes. Under section 80(C) 10% of the sum assured|
|Death Benefit||In case of unfortunate demise of the life assured within the policy term, the Sum Assured along with the accrued regular bonus and terminal bonus (if any) is payable to the nominee.|
|Survival benefit||Information not available|
|Guranteed Bonus||Information not available|
|Premium Waiver||Information not available|
|Accidental Death Benefit||Information not available|
|Surrender Value get as Loan||Information not available|
|Repayment Tenure||Information not available|
|Optional Riders||Not Applicable|
|Maturity Benefit||On survival of the life assured, till the policy term, the Sum Assured along with the accrued regular bonus and terminal bonus (if any) is payable.|