SBI Shubh Nivesh

A penny saved is a penny earned. Save your money with SBI Life Shubh Nivesh Plan and meet your long-term financial goals.

SBI Life Shubh Nivesh is a non-linked, participating, and individual life insurance policy that offers Triple Benefits to the policyholders. The plan comes with multiple benefits where one can get whole life insurance coverage, savings, and regular income under a single plan.

The plan comes with amazing features that add greater flexibility to the plan. Furthermore, this traditional investment plan acts as a good tool to meet your long-term financial goals by providing the option of regular payouts and building a huge corpus as a lump sum amount at the time of maturity.

Key Features Of SBI Life Shubh Nivesh Plan

1. Corpus Building

   The plan provides the option of an annuity plan that assists in building a huge corpus through wealth creation along with a regular flow of income.

2. Assured Returns

   SBI Life Shubh Nivesh guarantees returns on the sum insured along with interest and bonus after maturity.

3. Flexibility

   The plan allows you to choose your preferred premium paying option as Single or Regular premium payment.

4. Policy Loan Facility

   If you need financial support in case of any emergency, the plan will allow you to avail of a loan equivalent to 90% of the surrender value.

5. Discounts

   One can avail of discounts on large Sum Assured under the following slabs.

   Basic Sum Assured (Rs.)	Discount on premium per thousand Basic Sum Assured
   	Regular Premium (p.a.)	Single-Premium
   0.75 Lakhs to < 1.5 Lakhs	NIL	NIL
   1.5 Lakhs to < 3 Lakhs	Rs. 2.25	Rs. 4.50
   3 Lakhs to 6 Lakhs	Rs. 4.50	Rs. 9.00
   6 Lakhs and above	Rs. 6.00	Rs. 12.00

   **Last Updated on July, 2021

How does the SBI Shubh Nivesh Plan work?

Below we have elaborately explained the working of a SBI Shubh NIvesh Plan. Take a look and understand how the plan will help you to build a financial corpus.

An applicant can choose between an endowment plan or an endowment with whole-life insurance depending on his or her preferences. In addition, he or she can pick between regular or single premium payment frequencies for a policy duration ranging from 5 to 30 years. One can then avail a maturity benefit at the end of the policy's duration. This benefit can be paid the below-mentioned ways:

• A lump sum payment that comprises the base cash guaranteed as well as any earned bonuses.
• Regular monthly payouts or deferred payouts, that includes the due collected bonus once the policy tenure is completed, & the sum guaranteed is payable over a deferred payout period of 5 years, 10 years, 15 years, or 20 years.

Plan Options Available Under SBI Life Shubh Nivesh

The plan offers two plan options that are:

• Endowment Option: A traditional savings plan that offers both death & maturity benefits.
• Endowment with Whole Life Option: With this plan option, one can avail of all the benefits of an endowment plan along with the option to extend their coverage for the whole life (or for 100 years).

What Are The Benefits Of SBI Life Shubh Nivesh?

1. Maturity Benefit

   Endowment Option

   • On completion of the endowment term, the SBI Life Shubh Nivesh plan will pay Basic Sum Assured + Vested Simple Reversionary Bonuses + Terminal bonus, if any will be paid, while the policy is in force.
   • Option of Deferred Maturity Payment can be chosen under the plan after the endowment term ends.

   Endowment With Whole Life Option

   • The plan will pay the Basic Sum Assured + Vested Simple Reversionary Bonuses + Terminal bonus on completion of the endowment term if any will be paid, while the policy is in force.
   • Basic sum assured benefit shall be payable if the policyholder turns 100 years of age.
   • Option of Deferred Maturity Payment can be chosen under the plan after the endowment term ends.

2. Death Benefit

   Endowment Option

   If the life insured dies before the endowment term ends:

   • In the case of regular premium policies, an amount higher of sum assured along with vested Simple Reversionary Bonuses and terminal bonus or 105% of all the paid premiums till death is provided.
   • In the case of single premium policies, the sum assured on death along with vested Simple Reversionary Bonuses and the terminal bonus is paid.

   Endowment With Whole Life Option

   • On the death of the policyholder before the end of the endowment term, the sum assured with additional bonuses as declared by the company will be paid to the beneficiary.
   • On death after the endowment term is completed and till 100 years of age, the benefit of the basic sum assured is payable to the beneficiary of the policy.

3. Grace Period

   The grace period for the SBI Life Shubh Nivesh plan is 15 days for the monthly premium payment mode and 30 days for other modes. If the policyholder does not pay the premiums within the grace period, then it leads to policy lapse.

4. Participation in Profits

   The policy participates in profits that may be declared by the company from time to time. Simple reversionary bonuses will be paid based on the company's profits that solely depend on expenses, long-term view of investment returns, mortality, and other experiences.

   A terminal bonus is also declared on the maturation date of the policy, before death or surrender. This plan is participating only during the endowment term and not thereafter.

5. Tax Benefits

   You can claim a deduction of Rs 1.5 lakhs on your total income under section 80C of the Income Tax Act, 1961.

Eligibility Criteria of SBI Life Shubh Nivesh Plan

**Last Updated on July, 2021

Riders Available Under SBI Life Shubh Nivesh

1. Preferred Term Rider

   This rider offers a death benefit under the base policy in addition to the rider sum assured in the case of the unfortunate demise of the policyholder.

2. Accidental Death Benefit Rider

   As the name suggests, the rider is subject to pay the rider sum assured amount together with the death benefit of the policy in case the life insured dies due to an accident.

3. Accidental Total and Permanent Disability Benefit Rider

   In the case of total and permanent disability that is caused due to an accident, the rider sum assured is paid. However, the base cover and other benefits of the policy will continue. On paying premiums, the policy will continue until the end of the policy tenure.

The sum assured option for all the riders is the same, that is:

Minimum Sum Assured: Rs. 25,000

Maximum Sum Assured: Rs. 50 lakhs

Sample Illustration Of SBI Life Shubh Nivesh

To get a better understanding of how SBI Life Shubh Nivesh works, take a look at the illustration below, where Rakesh, a 30-year-old man decides to invest under this plan for 15 years. Now let's look at how much benefit he will get at the time of maturity.

**Last Updated on July, 2021

What Is Not Covered Under SBI Life Shubh Nivesh Plan?

• If the policyholder attempts or commits suicide during the initial 12 months of the policy, the company will not be liable to pay for any claim. This is the case when subscribed to the regular premium policy, but in the case of single premium policies, 80% of the total premiums paid will be payable to the beneficiary of the policy.
• Death or disability due to any widespread infection.
• Accidental wounds
• Any disability or demise due to intake of alcohol, drugs, psychiatric medicines, etc.
• Wars, riots, nuclear attacks induced injury or disease.
• Any flying activity that caused any injury or death.
• Hazardous sports may be commenced at one's own risk.