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Investment Plans 1888 views March 21, 2020
SBI Life Saral Maha Anand Plan is a non-participating unit-linked life insurance plan that offers you twin benefits of investing your money in instruments with growth prospects and traditional benefits of securing life insurance cover for your family by paying affordable flexible premiums and with no hassle of health examinations. Moreover, various rider benefits are provided by this policy that can enhance your cover.
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Surrender of SBI Life Saral Maha Anand Plan: SBI Life Saral Maha Anand Plan can be surrendered during the policy term. A policy once surrendered cannot be revived. Following are the two situations under policy surrender:
You have two options if you discontinue paying premiums of SBI Life Saral Maha Anand Plan:
Fund value as on the date of suicidal death intimation committed by the insured within 1 year of policy purchase or revival is paid to the nominee. The policy cover and rider benefits cease.
SBI Life Saral Maha Anand Plan, therefore, takes care of your financial and growth needs with its twin benefits of capital appreciation through market-linked returns and providing financial security through enough life cover. The five year lock-in period of this plan restricts your surrender or withdrawal thoughts which will help you in enjoying the befits of this plan over a longer period.