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"A plan which returns all the paid premiums back upon completion of the policy term"
Several term insurance plans provide insurance coverage for the premium you have paid. But have you ever heard of a term plan that offers financial security to dependents and returns back all the paid premiums upon completion of policy term.
The SBI Life - Saral Swadhan Supreme is such a plan which gives 100% of the total premiums paid as maturity benefit upon the survival of the whole policy term along with the continuous cover of death benefit.
Parameter | Specification |
Entry age | Minimum-18 years Maximum-50 years |
Maturity age | 65 years |
Sum assured | Minimum- 25 Lakhs Maximum - 50 Lakhs |
Policy term | Minimum-10 years Maximum- 30 years |
Premium frequency | Yearly/Half yearly/Monthly |
Given below are some key features of SBI Life Saral Swadhan Supreme Plan:
SBI Life-Saral Swadhan Supreme term plan offers you protection up to 65 years of age, to take care of your family after your demise.
Under the SBI Life-Saral Swadhan Supreme term plan, you get the convenience of choosing a premium paying term from either a regular or for a limited (7/10/15 years) period.
Each consumer has their own requirements, so by taking care of them SBI Life-Saral Swadhan Supreme offers flexibility to choose policy terms from 10 years to 30 years.
Under the SBI Life-Saral Swadhan Supreme term plan, upon survival of the whole policy term, you can get back up to the 100% of the total premiums paid depending on the policy term of 10 or 15 years.
You can get a tax rebate for the premiums paid for the SBI Life-Saral Swadhan Supreme plan up to 1.5 lakh, under section 80C of the Income Tax Act along with up to 50 thousand tax relief if you have bought a health rider with this plan.
Below is the premium illustration for a 29-year-old male looking for a sum assured of 50 lakhs with a policy term of 10 years:
Age | Policy term | Premium paying term | Sum assured | Premium amount |
29Â | 10 years | 10 years | 50 Lakh | Monthly-3505/- Yearly- 39,450/- |
Here is the list of people who should buy this plan as a top priority:
If you are the primary breadwinner of your family, you should consider buying SBI life-saral swadhan Supreme term plan to take care of your family's financial needs in case of your untimely demise.
If you recently became a parent, you should consider buying an SBI life-saral Swadhan Supreme term plan to ensure your children's education and other expenses will be taken care of in case of your untimely death.
If you are a newlywed, your expenses would also be increased, so to safeguard your spouse with better financial planning, you should consider buying an SBI life- Saral Swadhan Supreme term plan to care for your spouse's financial needs in case of your unfortunate demise.
A business owner has lots of responsibilities to take care of. He/she is the backbone of the whole business. SBI life- Saral Swadhan Supreme term plan is the perfect solution to take care of your business and your loved ones after your dismissal.
Here is a list of documents required to purchase the SBI Life- Saral Swadhan Supreme term plan:
Given below is the step-by-step process to purchase the SBI Life- Saral Swadhan Supreme term plan from the insurer's website:
Once Payment Successfully Done, a confirmation receipt will be sended over your mail and text.
You can find other term policies offered by the SBI Term Insurance company in the section below:
Standard Plan
SBI Life Arogya shield is a dual protection plan that covers health along with the life insurance cover. The plan comes with affordable premiums and offers discounts also.
Unique Features
Online Plan
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.
Unique Features
Standard Plan
An Individual, Non-linked Pure Risk premium product, that offers complete protection to the family members.
Unique Features
Cancer Plan
This plan provides extensive coverage from Minor Stage Cancer to Advanced Stage Cancer, offering up to 150% of the Sum Assured, while maintaining fixed premiums for 5 policy years.
Unique Features
Standard Plan
SBI Life Smart Shield is a pure term plan that offers two options – Level Term Assurance and Increasing Term Assurance and offers additional riders for enhanced protection.
Unique Features
Rural Plan
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.
Unique Features
You will get a 30-day grace period under the SBI Life Saral Swadhan Supreme term plan.
The minimum sum assured for the SBI Life Saral Swadhan Supreme term plan is 25 lakhs.
The minimum age limit of the SBI Life- Saral Swadhan Supreme term plan is 18 years.
The Maximum Policy term of the SBI Life Saral swadhan supreme term plan is 30 years of age.
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Varun is a passionate content writer with over three years of experience in the insurance domain. An avid learner, he stays ahead of the industry's trends ensuring his writing remains fresh and includes the latest insurance shifts. Through his work, Varun strives to engage with targeted insurance readers.
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