Wednesday, September 16, 2015

SBI Life Saral Sanchay Insurance Plan (Maturity Benefit)

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State Bank of India recently launched a new insurance plan. It is called “SBI Life Saral Sanchay Insurance Plan”. Do you know what the criteria are for it? Want to know about the scheme? Have a look at the information given below.

SBI Life Saral Sanchay Insurance Plan

Saral Sanchay Insurance Plan

The SBI Life Saral Sanchay Insurance Plan was launched the scheme on 1st September 2015. It is an individual, non-linked, non-participating, and variable insurance plan with two advantages of life insurance cover and savings. The plan is initiated to helps customers to methodically save to get their future goals in life as well as it helps to support person’s family in getting goals in any possibility.

Here is the eligibility to get this insurance plan.

Eligibility:

The eligibility to get the insurance plan is between 18 to 60 years. Moreover, you can purchase this insurance plan from authorized common service centre under the national e-Governance Plan of government of India.

Key Features of SBI Life Saral Sanchay Insurance Plan:

1. It is a life insurance cum savings plan with simple enrollment.


2. The minimum Floor Rate of 1.00% p.a. will be payable during the policy term.


3. You can withdraw a part of your policy account from 6th year onwards to accomplish your financial requirements.

These are the main key features of SBI Life Saral Sanchay Insurance Plan. You must be wondering that what the benefits of having this scheme are. The benefits of this plan are stated below.

Benefits:

Death Benefit:


If the death occurs during the policy term, SBI will pay highest of the 1, 2, 3, and 4 as explained below.

1. Sum assured


2. They will give you 105% of total premiums paid including top-up premiums paid till the date of death.


3. Moreover, total premiums paid including the top-up premiums paid till the date of death compounded at 1.00% p.a.


4. In addition, balance in your IPA.

Maturity Benefit in SBI Life Saral Sanchay Insurance Plan:


On survival of the life assured till the end of the policy term, SBI will pay the higher of 1 or 2, where,

1. Total premiums paid including top-up premiums paid till the date of maturity compounded at 1.00% p.a. less incomplete withdrawals made, if any.


2. Balance in your IPA as on the date of maturity.



Check out this Image of Saral Sanchay Insurance plan which explains even better;

Saral Sanchay Insurance Plan at Glance

The advantages stated above will be payable only if your policy is in-force at the end of the term. Moreover, if you have any doubt or query regarding the SBI Life Saral Sanchay Insurance Plan then please leave comment below!

Also Check :- Atal Pension Plan and Business Loan From Mudra Bank.

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