SBI Saral Maha Anand
  • Accidental Death Rider Benefits
  • Availability of 3 Fund Options
  • No medical Examination Required
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SBI Saral Maha Anand

SBI Life Saral Maha Anand is a unit-linked non-participating life insurance product that offers growth opportunities through capital market participation, taking care of your future needs. The plan provides dual benefits under which you can invest your hard-earned money and receive the benefits of a traditional life insurance plan.

The plan offers flexibility to check market-linked returns and choose the life insurance cover at your convenience. It also provides the option to enhance the insurance cover. With the affordable premiums and no medical examinations, buying SBI Life Saral Maha Anand Plan is a smart financial decision.

SBI Life Saral Maha Anand Plan offers you a range of benefits including:

why-choose
  • Guaranteed Additions of up to 30%
  • Requires no medical examination
  • Flexibility to choose from 3 fund options
  • Tax Benefits
  • Rider benefits are also available
  • Premium allocation charge from the 11th year onwards

Eligibility Criteria for SBI Saral Maha Anand

Your Occupation

Entry age

Minimum Age - 18 years Maximum Age - 55 years

Mukhyamantri Amrutam Yojana

Maturity age

Maximum Maturity Age - 65 years

Your Gender

Policy tenure

10/15/20 years

Maternity Benefit Rider

Premium payment term

10/15/20 years

Dr YSR Aarogyasri Trust

Premium payment frequency

Annual, half-yearly, quarterly & monthly

Maternity Benefit Rider

Sum assured

10 × AP to 20 × AP

How Does the SBI Saral Maha Anand Plan Work?

Let's understand how the SBI Saral Maha Anand Plan works with a simple premium illustration.

Why Buy Term Insurance Online?

Problem

Mr. Verma is looking for a ULIP plan that helps him create a lump sum amount to fulfill his financial needs.

Solution

His financial advisor advised him to buy the SBI Saral Maha Anand Plan. He visited PolicyX.com

Let's understand how the SBI Saral Maha Anand Plan works for him with a premium illustration table.

Age of policyholder Annual Premiums Sum Assured Policy tenure Premium Payment Tenure Maturity Benefits
30 years Rs 20,000 Rs 2,40,000 15 years 15 years Rs 4,08,675

Key Takeaways: At the end of the policy tenure the maturity benefits of Rs 4,08,675 are paid to the policyholder.

Features of SBI Saral Maha Anand

Here are some features of SBI Saral Maha Anand:

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SBI Smart Elite Plan (Other Benefits)

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SBI Smart Elite Plan (Eligibility Criteria)

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  • Maximum entry age- 60 years
  • Maximum sum assured- 105% of premiums
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SBI Life Smart Wealth Builder (Cons)

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SBI Life Smart Wealth Builder (Eligibility Criteria)

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  • Minimum entry age- 7 years
  • Maximum entry age- 55 years
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SBI Saral Maha Anand

SBI Saral Maha Anand

SBI Life Saral Maha Anand is a unit-linked non-participating life insurance product that offers growth opportunities through capital market participat...

Unique Features

  • Accidental Death Rider Benefits
  • Availability of 3 Fund Options
  • No medical Examination Required

SBI Saral Maha Anand (Pros)

SBI Saral Maha Anand
  • Guaranteed Additions of up to 30%
  • Requires no medical examination
  • Flexibility to choose from 3 fund options

SBI Saral Maha Anand (Cons)

SBI Saral Maha Anand
  • No pre-existing condition
  • Suicidal exclusion
  • No auto-cover continuance

SBI Saral Maha Anand (Other Benefits)

SBI Saral Maha Anand
  • Accidental Death Rider Benefits
  • Availability of 3 Fund Options
  • No medical Examination Required

SBI Saral Maha Anand (Eligibility Criteria)

SBI Saral Maha Anand
  • Minimum entry age- 18 years
  • Maximum entry age- 55 years
  • Minimum sum assured- Rs 10* AP
  • Maximum sum assured- Higher of 20 x annualized premium
  • Maximum policy term- 30 years
Tired of Pushy Sales? Get Insurance, Your Way Tired of Pushy Sales? Get Insurance, Your Way

Benefits of the SBI Saral Maha Anand Plan

There are various benefits to buying the SBI Saral Maha Anand Plan Plan. Let’s understand each of them in detail:

  • Multiple Funds Options: The plan comes out with three different investment funds options, allowing you to allocate your investment as per your risk appetite. An insured person has the choice to invest in any one or combination of fund options (in multiple of 1%). 1. Equity Fund
    2. Balanced Fund
    3. Bond Fund
  • Maturity Benefit On survival of the life assured up to maturity date, the insured will receive the fund value in a lump sum amount as a maturity benefit. The fund value will be the total value of units held across all unit-linked funds.
  • Death Benefit If the insured dies during the policy tenure, the plan will pay the higher of the sum assured or fund value in the form of the death benefit to the nominee. For the same, 105% of total basic premiums must be paid till the date of death.
  • Switching Option Plan provides the option to change the allocation of investments among the 3 funds options as per your convenience. You are allowed to make 2 free switches in a year. The minimum switch amount is Rs.2,000. You have to pay Rs.100 for additional switches.

Documents Required to Buy SBI Saral Maha Anand Plan

Here is the list of documents required to buy the SBI Saral Maha Anand Plan:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy SBI Saral Maha Anand?

You can buy the SBI Saral Maha Anand official website or one of their nearest branch offices.

Life Insurance
  • Step 1

    Visit the official website of PolicyX.com.

  • Step 2

    Hover on the ‘Life Insurance’ tab.

  • Step 3

    Choose the ULIP plan you want to buy.

  • Step 4

    Fill out the form at the top of the page with the necessary details.

  • Step 5

    Select your income and city. Click on 'Proceed'.

  • Step 6

    Update your education and occupation details.

  • Step 7

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 8

    Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

Life Insurance
  • Step 1

    Visit the official website of SBI Life Insurance.

  • Step 2

    Hover over the 'Products' from the top of the menu.

  • Step 3

    Click on the 'Individual Life Insurance' and choose the SBI Life Saral Maha Anand.

  • Step 4

    Click on ‘Buy Now’ and you will be redirected to a new page.

  • Step 5

    Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.

  • Step 6

    Once discussed you can make the premium payment and get the policy documents.

Buying from their branch office

You can buy the SBI Life Saral Maha Anand Plan offline by visiting one of their nearest branch offices. One of their representatives will help you buy the plan.

Your Occupation

Exclusions of the SBI Life Saral Maha Anand Plan

  • In case the policyholder commits suicide within 12 months of policy purchase then no death benefits are offered to their family members. Either 80% of the premiums paid to date or the surrender value acquired to date whichever is higher is paid.

Plan At a Glance

What’s Good Here What’s Missing
Guaranteed Additions Premium Offset
No Medical Exams Required Premium continuance
Maturity Benefit Auto cover continuance
Choice of Fund Options Top-up premium

In a nutshell

If you are looking for a ULIP plan that offers you to manage your policy with your own strategy and choice of funds then you must choose SBI Saral Maha Anand Plan.

For more info related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.

FAQs: SBI Saral Maha Anand

1. What happens if the policyholder does not pay the premium of SBI Life Saral Maha Anand after 5 years?

If the policyholder does not pay the premium after 5 years, then the accumulated policy fund amount till the date of discontinuance will be paid to the policyholder and the policy will immediately terminate.

2. Are any loan facilities available under SBI Saral Maha Anand?

No, SBI Saral Maha Anand does not offer any loan facilities.

3. Does SBI Saral Life Saral Maha Anand policy offer any top-up facility?

No, top-up facilities are not available under this SBI Life Saral Maha Anand plan.

4. Is there any additional rider benefit available under this Plan?

Accidental Death Benefit Linked Rider is available under this plan and you can opt for this rider by paying an additional rider premium.

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Himanshu Kumar

Written By: Himanshu Kumar

Himanshu is a seasoned content writer specializing in keeping readers engaged with the insurance industry, term and life insurance developments, etc. With an experience of 2 years in insurance and HR tech, Himanshu simplifies the insurance information and it is completely visible in his content pieces. He believes in making the content understandable to any common man.

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