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.
Term -> SBI Swadhan
|Minimum Sum Assured||300000|
|Maximum Sum Assured||10000000|
|Minimum Entry Age||18|
|Maximum Entry Age||65|
|Maximum Maturity Age||70|
|Paying Term||5 years, 10 years|
|Payment Frequency||Quarterly,Half Yearly,Yearly|
|Coverage||As a Maturity benefit, one can receive a repayment of your premium contribution towards the policy. Available at a low premium, it can provide security to your loved ones.|
|Exclusions||If the life assured, whether sane or insane, commits suicide, within one year from the date of issue of the policy shall be void. NO benefit shall be payable in such case.|
|Grace Period||Information Not Available|
|Pre Mandatory Medical||Depending upon age and sum assured|
|Cost Health Checkup||Provided by the insurance company|
|Number of Riders Covered||No riders are available|
|Riders||Depending upon age and sum assured|
|Surrender Value||If you survive the entire term, you would be eligible to a refund of premiums depending upon the term of policy. For example, if your policy is for 5 years, you’d be eligible for refund of 50% of the total premiums paid; for 6 years, the refund would be 60%, and so on. Hence, if you’ve taken a policy for 10 years, you’d receive 100% of your premiums back as refund.|
|Revival Laps Policy||Information Not Available|
|Cancellation Clause||Information Not Available|