SBI Life’s Sudarshan (Plan B) is an endowment plan that provides financial security along with life cover. Under this plan, sum assured increase by 5% every year.
Any individual with age between12 and 60 years can opt for this policy.
Maximum age at maturity is 70 years.
Sum assured ranges from Rs.50,000/- to 1Crore.
Minimum policy term is 8 years and maximum 30 years.
Premium is paid by Annual, Half Annual, Quarterly and Monthly mode.
Features and Benefits-
1.Maturity Benefit- Increased sum assured of 5% p.a. along with vested bonus is payable to the policy holder at maturity.
2.Death Benefit- Increased sum assured of 5% p.a. along with vested bonus is payable to the beneficiary, in the event of death of the life assured during the term of the policy.
3.Optional Benefits- The following rider plans are available by paying additional premium.
a)Term Assurance Cover Benefit
b)Critical Illness Cover
c)Accidental Death and Permanent Disability Benefit
4.Tax Benefit-Tax benefit under section 80C and 10(10D) of the Income Tax Act,1961.