SBI Investment Plan

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SBI Investment Plans

SBI Life, one of the renowned and trusted choices of customers when it comes to buying a Life Insurance plan. Since 2001, the company looks after every insurance and investment need of its customers and offers solutions for the same through its wide variety of Insurance products. These insurance products allow you to get desired protection and opportunities for wealth creation. A part of the premium paid is used to provide you insurance coverage and the rest of the amount is invested in the financial instrument as per your risk-taking capacity.

These plans help you to build the financial corpus for the future- be it for your child's marriage, education, or retirement savings. Moreover, SBI Life's savings and investment plans come with a greater number of options to choose from, whether it is the funds for investment, the sum assured, the premium payment terms, etc.

Features of SBI Investment Plans

SBI Life Investment plans make sure that your family's financial needs are looked after in case of your demise. Below are a few of the features of these plans:

  • Offers Security to your family against life eventualities
  • Flexibility to customize plans as per your requirements
  • Build your corpus through guaranteed additions

Benefits of SBI Life Investment Plans are

  1. Good Returns

    Returns on investment plans are usually better if you compare them to other available investment options. Invest in any SBI Life investment plans that offer maximum coverage at lower premiums.

  2. Riders Benefits

    Rider benefits are available under SBI Life investment plans. You can add riders like critical illness rider, accidental death, a total and permanent disability rider to get extra coverage.

  3. Tax Benefits

    Investment plans allow the insured to claim tax benefits. One can get a tax exemption benefit for the premiums paid under section 80C of the Income Tax Act, 1961. The amount you receive on the maturity of the policy is also tax-free under section 10 (10) D of the Income Tax Act, 1961.

  4. Additional Benefits

    You can get a discount for a higher sum assured and for on-time premium payment. The plans provide a premium waiver in case of the total and permanent disability in case of an accident. The survival benefits, death benefits, and maturity benefits provided under the SBI investment plans are unbeatable.

Claim Settlement Ratio of SBI Life Insurance

Claim Settlement Ratio is an important aspect to analyze where the company stands when it comes to the claim settlement. SBI Life Insurance with its ‘Customers-First' approach offers a hassle-free claim settlement process and ensures you get your claims settled on time. As per IRDAI's Annual Report 2019-2020, the CSR of SBI Life was 94.52 that shows the company has a good claim settlement capacity.

Let's compare the Claim Settlement Ratio of SBI Life with other top life insurance companies.

Claim Settlement Ratio of Top Life Insurance Companies

Claim Settlement Ratio of Top Life Insurance Companies

What are the Different Investment Plans Offered by SBI Life Insurance Company?

Type of Investment Plan Plan Name
Savings Plan SBI Life Smart Platina Assure
SBI Life Shubh Nivesh
SBI Life Smart Bachat
SBI Life Smart Humsafar
SBI Life New Smart Samriddhi
SBI Life Smart Future Choices

**Last Updated on July, 2021

Let's explore more about these plans:

  1. SBI Life Smart Platina Assure

    SBI Life Smart Platina Assure is a non-linked and non-participating life endowment assurance savings product that offers guaranteed returns. The plan comes with the advantage of paying premiums for a limited tenure and offers security, flexibility, simplicity, and reliability.

    Sample Illustration:

    Sum Assured Chosen: Rs. 10 Lakhs

    Age of the Policyholder: 30 years

    Plan Name Policy Term Premium Maturity Benefit
    SBI Life - Smart Platina Assure 15 years 1,20,000 15,62,400

    **Last Updated on July, 2021

    Key Features

    • Financial Protection: The plan offers financial protection to your family in case of your demise.
    • Guaranteed Additions: Under SBI Life Smart Platina Assure, you will receive guaranteed additions of 5.00% to 5.50% at the end of each policy year.
    • Maturity Benefits: The plan will provide a guaranteed sum assured (at the time of maturity) in the form of maturity benefits.

    Eligibility

    Entry age 18 years to 50 years
    Maturity age 65 years
    Annualized Premium Rs. 50,000 to no limit
    Policy tenure 12 & 15 years

    **Last Updated on July, 2021

  2. SBI Life Shubh Nivesh

    SBI Life Shubh Nivesh is an individual, non-linked, and participating life insurance savings product that offers insurance cover, income, and savings under a single insurance plan. The plan offers comprehensive coverage at an affordable cost with three rider options.

    Sample Illustration:

    Sum Assured Chosen: Rs. 10 Lakhs

    Age of the Policyholder: 30 years

    Plan Name Policy Term Premium Maturity Benefit
    SBI Life - Shubh Nivesh 20 years 48,510 At an assumed rate of returns
    @ 4% 13,45,000 or
    @ 8% 18,74,000

    **Last Updated on July, 2021

    Key Features

    • Financial Security: The plan offers complete security to your family and empowers them to achieve their financial goals.
    • Multiple Plan Options: It offers two plan options (endowment option & endowment with whole life option) to cater to different life insurance needs of the policyholder.
    • Additional Basic Sum Assured: Under the endowment with the whole life option, the plan offers an additional basic sum assured in case of death of the policyholder (post maturity).

    Eligibility

    Entry age Minimum: 18 years
    Maximum: Endowment Option:
    Regular Premium: 55 Years
    Single-Premium: 60 Years
    Endowment with Whole Life Option:
    50 Years (for both regular & single premium)
    Maturity age 65 years
    Minimum sum assured (in multiples of 1,000) Rs.75,000
    Policy tenure 5 years to 30 years

    **Last Updated on July, 2021

    *The values may change as per the chosen plan option

  3. SBI Life Smart Bachat

    SBI Life Smart Bachat is an individual, non-linked, and participating life insurance savings plan with the limited premium payment term (LPPT) option. It provides required financial assistance to your family and loved ones in case of any emergency.

    Sample Illustration:

    Sum Assured Chosen: Rs. 10 Lakhs

    Age of the Policyholder: 30 years

    Plan Name Policy Term Premium Maturity Benefit
    SBI Life - Smart Bachat 20 years 1,14,900 At an assumed rate of returns
    @ 4% 11,61,000 or
    @ 8% 19,43,000

    **Last Updated on July, 2021

    Key Features

    • Flexibility: The plan comes out with the flexibility of two different plan options:
      • Option A: Endowment plan
      • Option B: Endowment with in-built Accidental Death and Total Permanent Disability (AD & TPD benefit)
    • Maturity Benefits: On survival till the end of the policy tenure, the policyholder will be liable to receive the basic sum assured + vested simple reversionary bonuses + terminal bonus (under both plan options).
    • Tax Benefit: By investing in this insurance plan, the insured will be liable to receive tax benefits as per the prevailing tax laws.

    Eligibility

    Entry age Minimum:
    Endowment Option: 6 Years
    Endowment with AD & TPD: 18 years
    Maximum: 50 years
    Maximum maturity age 65 years
    Premium Frequency Loading Half-Yearly: 51.00% of annualized premium
    Quarterly: 26.00% of annualized premium
    Monthly: 8.50% of annualized premium
    Basic sum assured Rs. 1,00,000 to no limit

    **Last Updated on July, 2021

  4. SBI Life Smart Humsafar

    SBI Life Smart Humsafar is an individual, non-linked, and participating life insurance saving plan. It is a joint life insurance plan under which you can insure yourself and your spouse.

    Sample Illustration:

    Sum Assured Chosen: Rs. 10 Lakhs

    Age of the Policyholder: 30 years

    Plan Name Policy Term Premium Maturity Benefit
    SBI Life - Smart Humsafar 20 years 52,800 At an assumed rate of returns
    @ 4% 13,59,950 or
    @ 8% 19,20,000

    **Last Updated on July, 2021

    Key Features

    • Guaranteed Bonus: The plan offers a guaranteed bonus (for active policies) of 2.50% of the basic sum assured for the initial 3 years.
    • Financial Protection: The plan provides financial protection in case of the death of the policyholder. It also provides a maturity benefit on the survival of one or both assured members at the end of the policy tenure.
    • Additional Riders: Along with the basic cover, the plan allows you to invest in additional riders by paying an additional premium.

    Eligibility

    Entry age 18 years to 46 years
    Policy tenure 10 years to 30 years
    Maximum maturity age 65 years
    Sum assured Rs. 1,00,000 to 5,00,00,000

    **Last Updated on July, 2021

  5. SBI Life New Smart Samriddhi

    SBI Life New Smart Samriddhi is a non-linked, non-participating protection cover that offers a financial cushion to your family in case of an unfortunate event and also rewards your saving habit with Guaranteed additions.

    Sample Illustration:

    Sum Assured Chosen: Rs. 5 Lakhs

    Age of the Policyholder: 30 years

    Plan Name Policy Term Premium Maturity Benefit
    SBI Life - Smart Samriddhi 15 years 75,000 Rs. 9,02,250

    **Last Updated on July, 2021

    Key Features

    • Maturity Benefits: The plan pays 155% to 173% of the sum of annualized premiums as maturity benefit depending on age and chosen annualized premium.
    • Death Benefit: In case of an unfortunate event of the policyholder's death during the policy term, the beneficiary will get the ‘Sum Assured on death' along with accrued guaranteed additions.
    • Loan Facility: In case of an emergency, a policyholder may avail of the loan against their policy.

    Eligibility

    Entry age 18 years to 50 years
    Policy tenure 15 years
    Maximum maturity age 65 years
    Sum assured Minimum: Rs. 75,120 (based on min. premium)
    Maximum:Rs 5,28,000 (based on maximum premium)

    **Last Updated on July, 2021

  6. SBI Life Smart Future Choices

    SBI Life Smart Future Choice is an individual, non-linked, participating, life insurance savings product. It allows you to choose between different payout options as per your needs and helps you fulfil your short-term and long-term goals.

    Sample Illustration:

    Sum Assured Chosen: Rs. 10 Lakhs

    Age of the Policyholder: 30 years

    Plan Name Policy Term Premium Maturity Benefit
    SBI Life- Smart Future Choices 20 years 1,27,000 At an assumed rate of returns
    @ 4% 11,84,333 or
    @ 8% 12,68,191

    **Last Updated on July, 2021

    Key Features

    • Flexibility: The plan comes with 2 benefit payout options with an option to change the same if required as per your changing needs. The two available options are Classic Choice & Flexi Choice.
    • Maturity benefits: On maturity of the policy, the plan will pay maturity benefit differently under two options:
      • Under Classic Choice: Guaranteed Sum Assured on Maturity + Accumulated Deferred Cash Bonuses if any + Terminal Bonus, if declared.
      • Under Flexi Choice: Guaranteed Sum Assured on Maturity + Accumulated survival benefits if any + Accumulated Deferred Cash Bonus if any, + Terminal bonus if declared.

    Eligibility

    Entry age 18 years to 50 years
    Policy tenure Min.: 12 years
    Max.: 30 years
    Maximum maturity age 70 years
    Basic Sum assured Minimum: Rs. 6,55,000
    Maximum: No limit

    **Last Updated on July, 2021

What is the Claim Settlement Process of SBI Investment Plans?

SBI Life offers a hassle-free claim settlement process so that you or your family receive the claim amount without facing any issues. All you have to do is follow the below-mentioned steps to experience the quick and easy claim settlement process.

  • Intimate the company by filing an online claim. You can also visit the SBI's nearest branch or reach out to the company's representatives via email. You can also post the duly filled claim at:
    SBI Life Insurance Co. Ltd,
    8th level Seawoods Grand Central,
    Tower 2, Sector 40, plot No.R-1,
    Seawoods, Nerul,
    Navi Mumbai- 400706.
  • Submit all the necessary documents.
  • Once the company receives the documents and claim request form, they will make a decision and will settle the claims.

How To Buy SBI Investment Plans?

Buying an SBI investment plan online is an easy option. Just follow the below steps and secure your future by investing in any of the above policies:

Buying process of SBI Investment Plans

FAQs

Yes, you may need to serve a lock-in period for the liquidity of the amount. The lock-in period may vary with the plan and it is specified in the policy document.

The documents required to claim in the case of death of the assured life are:

  • A duly filled claim form.
  • Original copy of the policy received at the time of the issuance of the policy.
  • KYC of identity proof of the beneficiary mentioned in the policy document.
  • Original death certificate of the assured.

You can request the liquidity of maturity amount (both online and offline). Either, you can visit the official site of SBI Life Insurance and request for the claim after login into your account or you can also call the customer care representative and get proper guidelines about the procedure.

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.9/5 (27 Total Rating)

October 4, 2021

Munmum Pathak

Pune

I have been meaning to thank policyx for helping me with the claims process...They were diligent and made the process so smooth

September 30, 2021

Rahul Kakoti

Allahabad

SBI has been my go-to for almost every finance stuff...got a decent cover through policyx this time! they have extensive knowlege and im happy

September 28, 2021

Guni Das

Chandigarh

amaaaaaazing team at policyx.com! super helpful and ready to give any aid as and when asked! thankssss y all

September 28, 2021

Himanta Biswa

Mysore

truly great support staff at policy man! they helped me compare options and weighed in with interesting insights...finally bought life cover from SBI life!...

September 27, 2021

Salman A

Bengaluru

very good work ethics at SBI nsurance...policyx agent helped me buy a policy from here. So it helped !

Last updated on 16-07-2021

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