SBI Life Saral Swadhan Supreme Plan

Overview

While many term insurance plans offer coverage, SBI Life Saral Swadhan Supreme provides financial security to dependents and returns 100% of all paid premiums upon policy term completion.

The SBI Life Saral Swadhan Supreme is one such plan, offering 100% of total premiums paid as a maturity benefit upon survival through the policy term, alongside continuous death benefit coverage.

Key Benefits of SBI Life Saral Swadhan Supreme Plan

• Return of Premium Benefit
• Add-on Riders
• Tax Benefits As Per Laws
• Surrender Benefit
• Death Benefit
• Multiple Premium Payment Term Options

Detailed Benefits

Life Cover

Provides protection up to 65 years of age, ensuring financial security for your family after your demise.

Convenience

Offers flexibility to choose premium payment terms: regular or limited (7, 10, or 15 years).

Flexibility

Allows choosing policy terms from 10 to 30 years to suit individual requirements.

Maturity Benefit

Upon survival through the policy term, receive up to 100% of total premiums paid (for 10 or 15-year policy terms) in a lump sum.

Death Benefit

In the unfortunate event of the life assured's death during the policy term, the sum assured on death will be payable to the beneficiary in a lump sum.

Surrender Benefit

The policyholder can surrender an in-force or paid-up policy at any time during the policy term after paying at least one full policy year's premium.

Tax Benefits

Premiums paid are eligible for tax rebates up to ₹1.5 lakh under Section 80C of the Income Tax Act. An additional tax relief of up to ₹50,000 may be available if a health rider is purchased with this plan.

Riders Associated with SBI Life Saral Swadhan Supreme Plan

You can add the following riders to your SBI Life Saral Swadhan Supreme Plan:

SBI Life Accidental Death Benefit Rider

Provides an additional sum if the policyholder dies within 120 days of an accident.

SBI Life Accidental Total and Permanent Disability Rider

Covers the policyholder if an accident leads to permanent disability.

Exclusions

• Death due to a pandemic is not covered.
• Death caused by any type of adventure sports.
• Death by consumption of drugs and alcohol.
• Death due to any pre-existing disease not disclosed at the policy's inception.
• If a policyholder commits suicide within the first 12 months of purchasing the policy, no death benefits are paid to their nominee.