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Investment Plans 2697 views March 14, 2020
Life Insurance is a tool that not only gives life coverage but also helps you to invest in the market to get the benefits of your investment. As the head of the family, you would always like to do the maximum and the best things for your family. Likewise, when it comes to insuring yourself and your family, you want the best plan that will not only give the scope of life cover and investment but also help you maximize your wealth over the years to fulfill the dreams of your family. SBI Life, a pioneer in the country’s life insurance industry, offers such a plan that gives both protection as well as an investment opportunity with growth under one single plan.
SBI Life Flexi Smart Plus life insurance plan is that plan offered by SBI Life to achieve the above. Here are the details of the said plan.
Table of Contents
SBI Life Flexi Smart Plus Insurance Plan is a flexible, individual and participating life insurance plan that offers:
Financial Guard- A financial cover with life cover for the family
Flexible – Choice of a variable sum insured with an increase in the term of the policy as per the need
Withdrawal Facility– Comfort of part withdrawal, when needed
Consistency- Building of a financial corpus over the years
Tax Benefit- Exemptions under Section 80(D) of the Income Tax Act with consultation from the tax advisor
SBI Life Flexi Smart Plus Insurance Plan has several benefits that can be stated as below:
Below are the eligibility criteria for this plan:
Entry age | 18 years to 50 years |
Maximum maturity age | 55 years |
Entry Age | Minimum 18 years, Maximum 60 years |
Maturity Age | Minimum 23 years, Maximum 65 years |
Policy tenure | Minimum -5 years Maximum – 30 years |
Sum Assured Multiple Factor or SAMF | Minimum Greater of Annualized Premium *10/7 (Age < 45 years/ age >= 45) OR Annualized Premium* 0.50/ 0.25 (Age < 45 years/ age >= 45) * Term of the Policy Maximum 20 * Annualized Premium |
Sum Insured | Basic Sum Insured = Annualized Basic Premium * SAMF |
Frequency of Premium | Monthly, Quarterly, Bi-Annually and Annually |
Term of Premium Payment | Equal to the term of the policy |
Amount of Premium | Minimum Yearly- INR 50000 Bi-Annually- INR 30000 Monthly- INR 9000 Quarterly- INR 20000 Maximum -Zero Limit |
There are certain charges under this plan. These are:
If the life insured commits suicide within 12 months from the policy issue date or revival date, the policy will stand cancelled.
SBI Life has made it easy for all customers to contact SBI Life for their convenience in the below-mentioned ways:
With the SBI Life Flexi Smart Plus Life Insurance plan, your plans of providing the financial protection to your family become easy, so that they stay secure and fulfil their dreams and lead a stable life.