SBI Life Subh Nivesh Plan

SBI Life - Shubh Nivesh is a non- linked, with profit Endowment Assurance product with an option of Whole Life coverage. The basic purpose is to provide Savings, Income and Insurance Cover to you and your family. Not only can you save regularly for your future but you also have the flexibility to receive the maturity amount as a lump sum or as a regular income for a chosen period, depending upon your needs.

Key Features

  • A savings plan with flexibility of availing whole life insurance as an add-on benefit
  • Benefits including Wealth Creation, Insurance cover and Regular flow of income
  • Rebate on Large Sum Assured

Benefits

  • Maturity benefit
On survival of the life assured at the end of policy term, sum assured according to the plan chosen with vested bonus and terminal bonus if any will be provided and the policy is terminated.
  • Death benefit
In the unfortunate event of death during the Policy Term, your Nominee will receive Sum Assured on death plus Vested Reversionary Bonuses plus Terminal Bonus, if any and the policy is terminated.
  • Tax benefit
Life Insurance premiums paid up to Rs. 1, 00,000 are allowed as a deduction from the taxable income each year under section 80C. The Death Benefit is also Tax Free.

Add-ons

  • Rider benefit
  • SBI Life - Accidental Death Benefit (ADB) Rider
  • SBI Life - Accidental Total & Permanent Disability
  • SBI Life - Preferred Term Rider
  • Am I eligible?

    PARAMETER MINIMUM MAXIMUM
    ENTRY AGE 18 60
    POLICY TERM 7 30
    AGE OF MATURITY - 100
    SUM ASSURED 75,000 NO LIMIT
    PREMIUM PAYEMENT TERM SINGLE/REGULAR
    PAYMENT TERMS ANNUAL, HALF-YEARLY, QUARTERLY, MONTHLY

    What if?

    • I am unable to pay on time
    If the policy holder stops paying the premium, then all benefits of the policy will stop after the grace period ends. The policy can be reinstated within 3 years from the date of discontinuance after paying all the unpaid premiums.
    • I stop the payment
    If premium are paid up for at least three years, then it is converted to paid up Value else policy will cease.
    • I wish to take a loan
    Loan will not be available under this policy.

    Exclusions

    • If the Life Assured, whether sane or insane, commits suicide within 12 months from the date of issue of this policy or the date of any revival/reinstatement of this policy, the policy will become null and void. No benefit will be paid under such circumstances except on an ex-gratia basis at the discretion of the Company.