SBI Life - Poorna Suraksha is an Individual, Non-Linked, Non-Participating Life Insurance, Pure Risk Premium Product with in-built Critical Illness cover. The plan is designed to provide comprehensive protection to customers with the help of lump-sum life insurance coverage and financial protection against critical illness.
There's a unique feature of the plan called the 'LifeStage Re-balancing' that optimizes the level of protection covered by rebalancing between life cover and critical illness cover. Under this feature, the sum assured amount for the life cover reduces over the term whereas that of critical illness cover increases. And the best part about all this is that the premium amount remains the same throughout the term of the policy.
This plan offers life cover to 36 critical illnesses which is helpful for the policyholders to enhance their requirements with age. SBI Poorna Suraksha plan comes with the thought of 'Reverse Parenting' i.e., a child's precious gift to their beloved parents. As they become old, it is the responsibility of children to take care of their parents and this plan is one of the best and most affordable ways to reciprocate the same. Hence, a bunch of happiness exists in this 'Suraksha' policy.
Min: 18 years
Max: 65 years
Min: 28 years
Max: 75 years
Min: Rs. 20 Lakh
Max: Rs. 2.5 crores
10, 15, 20, 25, 30 Years
SBI Poorna Suraksha Plan comes with several benefits that makes it one of the best choices for those who are looking to secure their family’s financial needs. Below mentioned are some of the significant benefits that one may avail under this plan. Take a look:
This is one of the unique benefits
The plan provides coverage against
Another unique feature
In case of death of the life insured
Another useful benefit
This feature provides you
With this plan, the policyholder
This is one of the unique benefits of the SBI Life Poorna Suraksha plan. Life stage rebalancing is a unique feature that helps in balancing the coverage between life and critical illness. The sum assured is divided in a ratio of 80:20 for life cover and critical illness cover respectively at the inception of the plan.
With every passing year, the critical illness sum assured would increase and likewise, the life cover sum assured would decrease by an equal amount. This change in sum assured would happen only on the policy anniversary. The total base sum assured (Life Cover SA + CI SA) would remain the same throughout the policy term.
The percentage of increase in the critical illness cover is mentioned in the table below:
|Policy term||Increase in initial critical illness cover (per year)|
The plan provides coverage against 36 listed critical illnesses. The insured person can avail of the effective critical illness sum assured amount if they are diagnosed with any of the covered critical illnesses. To avail of this benefit, there is a waiting period of 90 days from the date of commencement under which no benefit will be provided. Also, this plan has a survival period of 14 days under which the policyholder is required to survive for at least 14 days from the date of diagnosis of the covered critical illness.
Given below is a list of 36 critical illnesses against which the plan provides coverage. Let's check them out.
Another unique feature of the plan is that it provides a waiver of premiums if diagnosed with any listed critical illness.
In case of death of the life insured, the sum assured on death would be paid to the nominee or legal heir, as the case may be.
Another useful benefit of this plan is that the premium amount remains the same throughout the policy term, irrespective of the increase in the policyholder's age or increase in critical illness coverage.
This feature provides you with the benefit of claiming the CI benefit from this policy independent of any other health insurance cover that you may have with any insurer since SBI Life pays the lump-sum benefits irrespective of the actual bill amount.
With this plan, the policyholder can avail of tax benefits under Section 80C and Section 80D of the Income Tax Act, 1961, as applicable.
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There are some permanent exclusions of the plan under which the policyholder will not get any coverage benefits. As a customer, you must know about these exclusions before selecting the plan. Let's have a look at these exclusions.
Know more about SBI Term Insurance, its claim process, buying process, and contact details by clicking on the sections below:
You can find other term policies offered by the SBI Term Insurance company in the section below:
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A protection plan offering 3 plan options to choose from along with a Terminal Illness Benefit that allows you to enhance your protection with Riders.
An Individual, Non-linked Pure Risk premium product, that offers complete protection to the family members.
Offers Critical illness cover and coverage for 36 Critical Illnesses with premium waiver benefit on the diagnosis of any of the covered Critical Illnesses.
SBI Life Smart Shield is a pure term plan that offers two options â€“ Level Term Assurance and Increasing Term Assurance and offers additional riders for enhanced protection.
A Life insurance, saving product with a return of premium. This plan provides fixed life cover throughout the term along with maturity benefits.
A Life Insurance Pure Risk Premium Product. It provides a life cover with a one-time premium payment. It is an affordable plan with surrender benefits.
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See More Term Insurance Articles
Yes, the plan offers coverage to NRIs.
No, the SBI Life Poorna Suraksha Plan does not provide cover for STDs.
No, the plan does not cover the treatment costs outside the country.
No, the plan does not offer any maternity benefits.
No, the plan is not participating and hence do not declare any bonuses or profits of the company.
As per IRDAI guidelines, there is a lock-in period of five years that needs to be completed by the policyholder to receive any payout benefit. To surrender your SBI Life Poorna Suraksha policy, you should fill a Surrender Request Form and submit it to the nearest SBI Life Branch.
SBI Life Poorna Suraksha and SBI eShield- both of these are term insurance plans but have differentiating features and benefits. The Poorna Suraksha plan offers an add on critical illness benefit and is designed to provide financial protection to the people who are more prone to get diagnosed with a critical illness. Whereas, eShield plan comes with Level Cover Benefit and Increasing Cover Benefit feature along with an accidental death rider and accidental total & permanent disability rider. As a customer, you should first carefully analyse your as well as your family's needs and then select a plan that matches your requirements.
Yes, SBI Poorna Suraksha covers 35 critical illnesses.
No, the SBi Life Poorna Suraksha plan does not offer any maternity benefit.
No, SBI Poorna Suraksha Life Insurance does not participate in the profits of the company.
Read what our customers have to say about SBI term insurance company
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