SBI Life Insurance – Smart Ulip Plan

March 19th, 2010

SBI Life Insurance Company, the subsidiary of country’s largest public sector bank has launch many innovative life insurance product, and one of them is SBI’s Smart Ulip Plan.

Smart Ulip plan not only gives you guaranteed net asset value (NAV) in the first seven years or at maturity, but also gives you advantage of participating in the market upside. If there is a sudden death of the policyholder during the policy term, the nominee receives the sum assured.

The plan also gives flexibility of a short term premium, that allow customers to pay premium for limited period of either 3 or 5 years and avail tax benefits under section 80 C and 10(10 D) of the Income Tax Act.

The security of a guaranteed NAV with a comparatively shorter premium paying term will help the customer once again to invest with confidence.

The introduction of Smart Ulip is a demonstration of SBI Life’s commitment to a customer-centric approach, by offering life insurance solutions appropriate to the times, SBI Life Insurance managing director & CEO U S Roy said.

SBI Life’s Smart Ulip works with Flexi Protect Fund and Money Market Fund.

SBI Life Insurance – Money Back Policy

February 3rd, 2010

Everybody experience some so important moments in life that are truly limited. These special moment could be your wedding, first child’s birth, child’s education or purchasing a new home. Some respective moments are even named as responsibility. For these kind of occasion one has to be financially prepaid.

What you want is easy liquidity at every step to be in or take to. And Life Insurance is an option that can help you out.

SBI Life Insurance brings to you Money Back Policy which is a saving plan with added benefits of life cover and cash inflow at regular intervals. This plan is specially customize for individuals who are serious about savings for future expense at anytime in life.

Riders Available

  1. SBI Life  Insurance- Critical Illness Rider.
  2. SBI Life Insurance – Term Assurance Rider.
  3. SBI Life Insurance – Premium Waiver Benefit Rider.
  4. SBI Life Insurance – Accidental Death & TPD Rider.

SBI Life- Maha Anand Plan

November 19th, 2009

SBI Life Introduced “Maha Anand Policy”- a Simple & Versatile Unit linked non participating life insurance plan, which gives you insurance cover without any medical Check Up. All you have to do is just answer some few health related questions & there is it… you’re insured.

The product has been especially designed to provide to investment and protection needs of the middle and low-income people, specially those residing in semi-urban and rural areas.

Mind Blowing Features of Maha Anand Life Policy:

  1. Double advantage of Market linked returns and insurance cover.
  2. Easy Apply Process - No medical test is necessary.
  3. Available at an affordable premium starting from Rs 500 per month.
  4. 3 fund options to choose from.
  5. Flexibility to increase your investments.
  6. Liquidity through partial withdrawal’s.
  7. Attractive Tax benefits under the Income Tax Act, 1961.

SBI Life Insurance India

September 8th, 2009

State Bank of India is one of the largest banking dealership in India, including its seven associate banks. Network of over 14,500 branches across the country, SBI Life offers a slew of products designed for each and everyone of the society.

Following is the list of products with details:-

Pension:

  1. Keeps your income stable in post-work life.
  2. Helps policy holder to remain financially independent post-retirement.
  3. Tool for systematic retirement planning.

Children Plan:

  1. An Asset to plan for children’s needs in the future.
  2. An Asset to ensure children’s future plans are not compromised in parental absence.

ULIP Insurance:

  1. Investment option added.
  2. Option to choose from funds such as equity, debt, bonds, or a combination.
  3. Offer partial withdrawals options.

Money Back Insurance:

  1. Life covers for specified periods.
  2. Policy holder gets tax-free, fixed proportions of the sum assured at regular intervals.
  3. Policy holder receives lump sum payment on surviving maturity date.

Term Insurance:

  1. Pure risk cover plan with no survival benefit.
  2. Cheapest of all life insurance product.

Endowment Insurance:

  1. Tool with savings option
  2. Sum assured plus bonus accrued paid in the event of death of the insured or at maturity
  3. With-profits plan that participates in the profits of insurer’s life insurance business

SBI Life Shield

September 1st, 2009

SBI Life Shield is one of the better term insurance plan available in the market. It has lowest premium options than other insurance plans and also offers attractive discounts on premium.

The plan is available in three options-

(i)Sum assured increases 5% per annum

(ii)Sum assured increases 50% per annum

(iii)Level cover

Benefits:

1. Death Benefit- In case of unfortunate death of the life assured during the term of the policy, the nominee will receive the sum assured.

2. Maturity Benefit- No survival benefit is payable at the end of the policy term.

3. Tax benefit- Tax benefit under section 80C and 10(10D) of the Income Tax Act,1961.

4. Rider Plans- The following rider plans are available for additional benefit.

-Accidental Death and Permanent Disability Rider

-Premier Waiver Benefit Rider

Other Benefit-

  1. Special rates on premium for women lives.

  2. Attractive premium rates for the sum assured above 6Lakh and available on annual and semi annual mode of payment only.

Eligibility Criteria:

Minimum Age at Entry 18 Years
Maximum Age at Entry 60 years
Maximum Age at Maturity 65 Years
Minimum Sum Assured 3Lakh
Maximum Sum Assured No Limit
Minimum Policy Term 5 Years
Maximum Policy Term 25 Years
Premium Payment Mode Single, Annual, Half Annual, Quarterly and Monthly

SBI Life- Shield.

August 6th, 2009

When we were small enough to earn our living,our parents/guardians helped us doing it by caring us and making us capable to step into the hectic and timeless world. Now it is your duty to take care of them and you even make them financially secure. But in this busy life, we don’t even get time to take care of ourselves properly then how could we care of our parents or fulfill their retirement dream. ‘Life is full of uncertainties and risk’ as you all know. To assure that due to some uncertainties your dream should not be shatter which you have for your family.

SBI Life furnish you with ‘Shield’ which is a pure risk policy that offers you a significant life cover at a very low cost. You did not have to worry about the dream if you come across premature death, as with this cheap life cover policy unfulfilled jobs of yours will get financially fulfilled eventually.

Some Unique Features:

  1. Life cover at the cheapest cost.

  2. Available in 3 options.

  3. Tax benefit u/s 80 C and 10 (10 D) of IT Act.

  4. Discount for Female lives.

  5. Premium payment mode- monthly,half-annually,annually,quarterly,single.

  6. Rider options available.

  7. 15 days Free Look Period from the date on which you receive the policy documents.

Benefits

Death Benefit: in case of unfortunate death, the nominee will get the sum assured.

Maturity Benefit :No survival benefit available at the end of the term.

SBI Pension Plans

August 4th, 2009

SBI Life Insurance Company is one of the leading life insurance companies in India that offers wider range of pension plans to the customer. At present, the company offers 4 individual insurance products.
The following each plan is specially designed to complete the financial needs of retired person.

SBI Life-Horizon II Pension- It is unit linked pension plan with the unique features of automatic asset allocation.
Under this plan, you have option to choose-
-Retirement date
-Fund option from Equity Pension Fund, Bond Fund and money market pension Fund.
-Plan option between Pure Pension and Pension cum Life Cover.

SBI Life-Unit Plus II Pension-It is a unit linked pension plan in which policy holder choose the invest period from 5 to 52 years for a vesting age between 50 to 70 years.
Under this plan, you have option to choose-
-Fund option from Equity Pension Fund, Bond Pension Fund, Growth Pension Fund, Balanced pension Fund and Equity Optimizer Fund.
-Single premium Mode or Regular premium Mode
-Plan option between Pure Pension and Pension cum Life Cover.

SBI Life-Lifelong Pensions-it is a comprehensive pension plan that ensures financial freedom after retirement.
Under this plan you have option to choose-
-Retirement age
-Plan option between Pure Pension and Pension cum Life Cover.

SBI Life-Immediate Annuity- The annuity rates are  guaranteed for life.
Under this plan, you can opt for any one of the six annuity options available and option to choose periodicity of the annuity.

SBI Life also offers group pension products, its include CapAssure Gratuity, CapAssure Super Superannuation Scheme, CapAssure Leave Encashment, Group Immediate Annuity and Golden Gratuity Plan.

Types of SBI Life Insurance.

July 31st, 2009

SBI Life Insurance renders large number of products designed specially for its customers. The products admits money back products, pension products, protection cum savings products, and unit linked products. All these products provides various requirement of its end users.

Endowment Insurance:

  • Protection asset with savings option.
  • Sum assured alongwith aggregate bonus paid in term of death of the insured or at maturity.
  • With-profits plan that adds more profits of insurer’s life insurance business.

Children Plan:

  • An asset to plan children’s needs in the future – education, wedding etc.
  • A resource to see that children’s future plans are not compromised in case of unfortunate death of parent’s.

Money Back Insurance:

  • Renders life cover for specified periods.
  • Policy holder benefits tax-free, fixed proportions of the sum assured at regular intervals or an option to re-invest.
  • Policy holder gets huge amount of sum assured on surviving maturity date.

Pension:

  • Helps maintain stable income in post-work life.
  • Ensures that policy holder remains financially independent on post-retirement.
  • Helps giving systematic retirement planning.

Term Insurance:

  • Pure risk cover plan less survival benefit.
  • Life security mean against the uncertainties of life.
  • Cheapest life insurance product.

ULIP Insurance:

  • Protection asset with added option of investment plan.
  • Policy holder can choose from funds such as equity, debt, bonds, or a combination.
  • Insurers offer partial withdrawals options.

SBI LIfe Insurance

July 22nd, 2009

SBI Life Insurance is a one of the leading life insurance company in India. It is a joint venture between State Bank of India, and BNP Paribas Assurance.

The main aim of SBI Life Insurance is to provide insurance policies at affordable prices and hassle free services.  The company offers insurance products that are specially designed according to the customer needs and liabilities.

The company offers wide range of comprehensive insurance products for individuals and groups.

Individual Products-
-Unit Linked Products
-Pension Product
-Pure Protection Product
-Protection cum Saving Products
-Money Back Scheme Products

Group Products-
-Group Employee Benefit Products
-Group Term with ROP
-Group Loan Protection Product
-Group Saving Protection Product
-Group Micro Insurance

Features of SBI-Sudarshan (Plan A)

July 15th, 2009

We think of great plans for our family/dependents,even for ourselves,till we get into retired life. So it is good thing if we make ourselves clear with what saving plan along with life insurance is perfect.

SBI-Sudarshan is a unique endowment policy that helps you acquire needs and necessities in life through regular and saving plan whether it is your son’s wedding,want to buy a home, child’s education,etc.

Important Features:-

  1. Individual between the age 12 to 60years can avail this plan.

  2. Less premium payment.

  3. Sum Assured from 50000 to 1crore.

  4. Fixed sum assured till the policy ends and Increasing sum assured by 5% each year.

  5. Premium can be paid monthly,quarterly,yearly,half yearly. Single premium option available.

  6. Reversionary bonus (regular bonus) are included annually in the plan.

  7. Incase the policyholder dies when the policy is in force,the sum assured along with accumulated bonuses are being paid to the nominee till the date of death.

  8. Insurance premium paid every year qualities for tax exemption under section 80C