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Sbi Saral Jeevan Bima vs I Term Prime Plan

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Security for your loved ones is available with the SBI Life Saral Jeevan Bima Plan at a reasonable cost. It is a straightforward policy that offers the ease of paying a premium once, on a regular basis, or over the course of a policy period of 5 or 10 years. SBI Life Saral Jeevan Bima offers a death benefit to policyholders safeguarding the future of their loved ones. On the death of the life assured during the policy period once the waiting period has passed or due to an accident, the nominee/legal heir will receive the sum assured in lumpsum. SBI Life Saral Jeevan Bima does not offer any survival benefits, maturity benefits or rider benefits. It is a simple, straightforward life insurance plan.

SBI Saral Jeevan Bima is a non-linked and non-participating life insurance premium product. SBI life Saral Jeevan Bima is suitable for people who want a pure protection cover.

SBI Saral Jeevan Bima Plan offers you a range of benefits including:

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  • Affordable Premiums
  • Multiple Premium Payment Term
  • Tax Benefits As Per Laws
  • Life Cover Up To 70 Years
  • Instant Issuance
  • Death Benefit
PLAN DETAILS

Sbi Saral Jeevan Bima


I Term Prime Plan

Premium Including GST
Key Features
(Key features of the plan)
  • Standard plan
  • Affordable premiums
  • Tax benefits
  • Affordable Premiums
  • High Coverage
  • Riders Available
Plan Maturity age Maximum Maturity Age - 70 years Maximum Maturity Age - 65 years
Plan Sum Assured Basic Sum Assured: ₹5L to ₹25L Base sum assured: 25 lakhs to no upper limit
Plan Entry Age Minimum Age - 18 years Maximum Age - 65 years Minimum Age - 18 years Maximum Age - 65 years
Plan Payment modes Single, Yearly, Half-Yearly, and Monthly Annual, half-yearly, quarterly & monthly
Plan Policy loan The policy loan is not available under SBI Saral Jeevan Bima. The policy loan is not available under i-Term Prime
Plan Sample Premium Rs 521-/ per month Rs 504-/ per month
Plan Brochure Brochure URL Brochure URL
Policy Term Minimum term - 5 years Maximum term - 40 years Minimum term – 5 years Maximum term – 15 years
Claim Settlement Ratio (2024-25) 98.83% 99.73%
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* The above sample premiums are for a 30-year-old male, nonsmoker with a sum assured of Rs 50 lakhs and a policy tenure of 25 years. You can calculate the premiums for the above term insurance plans using the PolicyX Term Insurance Calculator.

Riders

Riders Associated with Bandhan Life i-Term Prime Term Plan

You can add the following riders to your i-Term Prime plan:

Bandhan Life Critical Illness Rider

This rider provides a lump sum payout to the policyholder in case of the diagnosis of a critical illness, such as cancer, heart attack, or stroke. The payout amount can be used to cover medical expenses or other financial obligations.

Bandhan Life Accidental Death Benefit Rider

This rider provides an additional payout in case of the policyholder's death due to an accident. The payout amount is usually a multiple of the sum assured chosen at the time of policy purchase.

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