SBI Life-Saral Jeevan Bima: One of the best policy for a secured life, check details

SBI Life – Saral Jeevan Bima is an Individual, Non-Linked, Non-Participating Life Insurance Pure Risk Premium Product. It is apt for those looking for pure protection cover and are first time buyers in search of a simple plan. Thus, your family stays financially protected, even in unforeseen circumstances.

People who are more than 18-year-old can invest in the SBI Life – Saral Jeevan Bima. Continue to read to know more about the policy.

Key Features –

• Security for your family with a standard term plan at an affordable cost.
• Convenience of premium payment options.
• Ease of understanding with standard terms and conditions.
• Tax benefits* as per prevailing norms under the Income Tax Act, 1961.

Once, regularly or for a limited (5/10 years) period.

Features & Advantages:

• Security for your family with a Standard term plan at an affordable cost
• Ease of understanding with Standard terms and conditions
• Convenience of paying premium once, regularly or for a limited (5/10 years) period.
• Tax benefits* as per prevailing norms under the Income Tax Act, 1961.

*Tax benefits are as per Income Tax laws & are subject to change from time to time. Please consult your tax advisor for details.

Plan Benefits:

• Death Benefit:

On death of the life assured during the policy term after the expiry of the waiting period or due to accident during the waiting period,the nominee/beneficiary will receive the Sum assured on death, in lumpsum which is:

For Regular & Limited Premium payment policies, it is Highest of

• 10 times the Annualized1 premium
• 105% of all premiums paid as on the date of death
• Absolute amount assured+ to be paid on death

For Single premium policies, it is Higher of

• 125% of Single premium
• Absolute amount assured+ to be paid on death

On death of the life assured due to other than accident, during the waiting period, the nominee/beneficiary will receive the Death Benefit, which is equal to 100% of all the premiums paid, excluding taxes, if any.

Annualized Premium is the total amount of premium payable in a policy year, excluding taxes, underwriting extra premiums and loadings for modal premiums, if any.

Absolute amount assured to be paid on death shall be an amount equal to Basic Sum Assured.

The premiums referred above shall not include any extra amount chargeable under the policy due to underwriting decision, if any.

Who can buy?