A traditional, non-participating, term assurance plan with return of premiums on maturity
Mumbai, Sep 05, 2015 : SBI Life Insurance, the trusted life insurer, has launched a new product ‘SBI Life – Smart Swadhan Plus’, a traditional, non – participating, term assurance plan with an added advantage of return of premiums at the time of maturity. It is a simple life insurance solution which enables the customers to understand and buy insurance in a hassle-free manner. The plan comes with twin benefits of securing one’s life and on survival of the life assured up to maturity, 100% of the total basic premiums paid during the policy tenure shall be paid in a lump sum.
On the launch of this product, Mr. Arijit Basu, MD and CEO, SBI Life Insurance, said, “ Sole bread earners invest their hard earned money in securing their family finances in case of an eventuality. At the same time they want to invest in products that give them peace of mind with financial security at a low cost for their family and also give an assurance to get back the money invested at the end of the policy term. To address this need of Insurance plus savings, we, at SBI Life, have come up with ‘SBI Life – Smart Swadhan Plus’. It is one such simple life insurance offering that helps the customer fulfill both the desires of affordable protection and refund of premiums paid .”
This customer-friendly plan offers the option to pay premiums through a single payment or for a limited period (5, 10, 15 years) or throughout the policy term. It also offers customers the flexibility to choose the period of protection from 10 years to 30 years. Customers opting for higher level of protection get discounts on premiums under the high sum assured rebate option. The plan also gives the tax benefits as per the prevailing tax laws. The minimum entry age is 18 years and maximum is 65 years.
Corporate Comm India (CCI Newswire)