• SBI Life Endowment Plans

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    Life has to come to an end one day, so we must protect it and cherish it always. You might die at any time, there is no knowing. But we must ensure that our loved ones are not affected because of your death. It doesn’t necessarily have to be your death, after you retire, you must ensure that you have enough money to sustain. Endowment plans happen to be the best option for you. An endowment policy is a life insurance that is designed to pay a lump sum amount after a specific term on its maturity or on death. SBI has a range of endowment policies to offer to you. You can avail the benefits of the plan and if necessary you can also surrender the policy at any time you are in need of cash. The surrender value will be determined by the provider.

    Endowment policies offered by SBI Life Insurance

    Following are the endowment plans that have been offered by SBI:

    1. SBI Life - Smart Money Back Gold: SBI Life - Smart Money Back Gold plan is a savings plan which offers added advantage of life cover and cash inflow. This is a participating traditional money back plan.

    Features and Benefits:
    • The minimum sum assured is Rs.75,000. There is no maximum limit.
    • Minimum entry age is 14 years and maximum entry age is 55 years.
    • Money back options and a fixed cash inflow option is available.
    • Survival benefit is paid till maturity. 110% of sum assured will be paid to you.it can be availed before maturity and at maturity.
    • You will get rebates on large sum assured.
    • You can choose from the wide range of riders for additional benefits.
    • Death benefit will be payable to the nominee in the event of your death during the term of the plan.
    • Policyholder will be eligible for income tax benefits and exemptions as per the pertaining Income Tax Laws of India.

    2. SBI Life - Shubh Nivesh: SBI Life- Shubh Nivesh is a non-linked plan with profit endowment assurance product that has an option of Whole Life cover. You can save, earn income and get insurance cover on yourself and your family.

    Features and Benefits:
    • Minimum age at entry is 18 years.
    • Minimum sum assured is Rs.75,000. There is no maximum limit.
    • This is a savings plan and you can also avail whole life insurance as well.
    • You can choose between Single and Regular premium payment mode.
    • You can opt for additional riders at a nominal cost. You get the option to receive basic sum assured at regular intervals.
    • The policy holder can avail tax benefits as per prevailing tax laws of India.
    • You get maturity and death benefit based on the plan option chosen by you. Plan options available to you are endowment option and endowment with Whole Life.
    • You can also use deferred maturity payment option to get income on regular intervals.

    3. SBI Life – eShield: This is an individual, non-linked, non-participating pure term plan.

    Features and Benefits:
    • Minimum age at entry is 18 years and the maximum age at entry is 70 years.
    • The minimum sum assured is Rs.20,00,000. There is no limit for maximum sum assured.
    • This plan allows you to offer security to your family at an affordable premium.
    • You get rewards for maintaining a healthy lifestyle.
    • You get additional benefit of Accidental death Benefit.
    • Tax benefits under Section 80C and 10(10D) of Income Tax Law, 1961 are available to you.
    • You get death, maturity and surrender benefit with this plan.

    4. SBI Life - Smart Guaranteed Savings Plan: This is a traditional non-participating individual savings plan. It provides your savings a boost with guaranteed additions.

    Features and Benefits:
    • The minimum age at entry is set at 18 years and the maximum age at entry is set at 50 years.
    • The sum assured depends on the premium that you have chosen.
    • You get guaranteed additions at the end of each policy year.
    • Premiums can be paid for a limited period of 7 years.
    • For the in-force policies, you get death and maturity benefits.
    • You will be eligible for Income Tax benefits and exemptions as per the prevailing tax laws of India.

    5. SBI Life - Smart Champ Insurance: This is an individual non-linked, participating life insurance plan. You can protect your child’s future educational needs with this plan.

    Features and Benefits:
    • The minimum age at entry for life assured is 21 years and the maximum age is 50 years.
    • The minimum age at entry for the child is 0 years and the maximum age is 13 years.
    • The minimum basic sum assured is Rs.1 lakh and the maximum sum assured is Rs.1 crore.
    • You get immediate payment for insured event.
    • If you are financially burdened, then the future instalment premiums will be waived.
    • You get to pay one-time premium or limited premium.
    • You can avail benefits on death and survival.
    • Tax benefits and exemptions are applicable to this plan.

    6. SBI Life - Smart Income Protect: This is a smart way to ensure that you are financially secured for your future.

    Features and Benefits:
    • Minimum age at entry is 8 years and the maximum age is 60 years.
    • The minimum sum assured is Rs.1 lakh. There is no limit on the maximum sum assured.
    • You get insurance cover as well as regular income.
    • Guaranteed annual payouts are available.
    • You can customise your cover through a wide range of additional rider benefits.
    • You get maturity benefits as lump sum and in instalments.
    • You also get death benefit with this plan.

    7. SBI Life - Smart Money Planner: This is an individual non-linked plan with profit endowment assurance and an added guarantee feature.

    Features and Benefits:
    • Minimum age at entry is 18 years and the maximum age is 60 years.
    • The minimum sum assured is Rs.1 lakh and the maximum sum assured is Rs.5 crore.
    • You get regular income throughout the benefit payout period.
    • Life cover option is available.
    • Rebates are offered on large sum assured.
    • Tax benefits are applicable as per the prevailing tax laws of India.
    • Death, maturity and survival benefit is offered to the policyholder.

    8. SBI Life - Smart Humsafar: This is a non-linked, joint life, participating endowment plan. You get the benefit of saving and insurance cover with this plan. This plan is a good option for both husband and wife.

    Features and Benefits:
    • The minimum age at entry is 18 years and the maximum age at entry is 46 years.
    • The minimum sum assured is Rs.1 lakh and the maximum sum assured is Rs.5 crore.
    • You get joint life advantage, dual protection, premium waiver and secured savings.
    • You also get death benefit and maturity benefit with this plan.

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    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    SBI Life Endowment Plans Reviews

  • Page 1 of 25 1 2 3 4 5
    • SBI Life Life Insurance
      "Good Policy"
      0.5 3.0/5 "Satisfactory"
      I have take life insurance from Sbi life . Am satisfied with the premium amount . This policy covers accidental coverage and critical illness . Every 3 month i had to pay through cheque. They gave the tenure period of 13 years with 55years of policy coverage. Their customer service and response is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 17, 2018
    • SBI Life Life Insurance
      "Better Policy"
      0.5 5.0/5 "Blown Away!"
      Total tenure of the policy is 20 years. It is a cashback policy. Every 5 years i will get 10%. Every 5 years they will give the cashback policy. Once in 5 years, my number will update in their system, i have to give a blank cheque. At the end of th term , I would get bonus points I guess.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 13, 2018
    • SBI Life Life Insurance
      "Good insurance for life"
      0.5 4.0/5 "Great!"
      I have the life insurance policy with the SBI life and I am holding it from the last one year of time. Customer service is good one with them and the response is also good one too. Premium amount is nominal one for me with them.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 07, 2018
    • SBI Life Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      With SBI life I hold the life insurance policy . I have got the Life insurance policy for more than 3 years. This policy has the tenure of 12 years. I get on time reminders to pay the premium . The customer support service and the response is excellent with the SBI.
      Was this review helpful? 0
      , chennai
      Reviewed on May 28, 2018
    • SBI Life Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy from the SBI life. I pay a premium of 1300 per year. The premium gets Auto debited from the account. I never had any issues with the policy and their services. I'll have to wait and see how this policy turns out in future.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 25, 2018
    • SBI Life Life Insurance
      "Best Pension Scheme"
      0.5 5.0/5 "Blown Away!"
      I started using this SBI Pension policy 4 years back. Total tenure of the policy is 10 years. I used to pay Rs. 50000 per annum. After 10 years every month i used to receive 5000 from the scheme till end of my life. Death coverage is there. My wife would be be beneficiary.
      Was this review helpful? 0
      , chennai
      Reviewed on May 25, 2018
    • SBI Life Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I"ve a life insuranc epolicy wiht the SBI life. I apy a premium of 1499 per year for a coverage of 10 Lacs coverage. The premium gets auto debited from my account which is pretty much convenient for me. Overall it is a good policy to have and never had any issues with their services.
      Was this review helpful? 0
      , chennai
      Reviewed on May 16, 2018
    • SBI Life Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the LIC Jeevan Anand Life Insurance policy for the past 8 Years. I make Online Payments, being a Govt company the trust factor is there and I'm paying a premium of 20000 per year. I never faced any issues with the policy and its features.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 04, 2018
    • SBI Life Life Insurance
      "Better policy to use"
      0.5 3.0/5 "Satisfactory"
      Got the life insurance policy from the SBI life around 4 years ago. This policy has the tenure of 20 years. The customer support service and the responds is good with the SBI life. The plan benefits and the policy coverage are good with the SBI life insurance policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 30, 2018
    • SBI Life Life Insurance
      "SBI life insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken the life insurance from SBI life and the premium amount is 75000 for 20 years. Actually i have taken this life insurance since i have taken a home loan from State bank of India. The customer service and response is good with them.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 17, 2018
    • SBI Life Life Insurance
      "Good Policy"
      0.5 3.0/5 "Satisfactory"
      I am having a life insurance policy with SBI life from last 3-4 months and it is one of the good policy to use. I am not aware of the maturity period of this policy. I pay my premium on monthly basis through ECS and i am convenient with the payment options which they are giving. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 06, 2018
    • SBI Life Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I hold the SBI life insurance policy for the past 1 year. The customer support service is good with the SBI and they give good response to the customers. This policy has the tenure of 5years. I pay the premium amount of Rs.10,000 in every year once.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 04, 2018
    • SBI Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with SBI life from last 2 years and it is a short term policy. The tenure of this life insurance policy is 10 years. I pay my premium once in 6 months and i am convenient with the payment options which they are giving. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 26, 2018
    • SBI Life Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The SBI Life give good returns to the customers. The coordination is excellent with the SBI life . This life insurance policy has the tenure of 10years, I pay the premium amount of Rs,30,000 per annum. The plan benefits and the coverage is good with this policy,
      Was this review helpful? 0
      , allahabad
      Reviewed on Mar 26, 2018
    • SBI Life Life Insurance
      "Average"
      0.5 1.0/5 "Really Bad"
      I have taken accidental policy with SBI Life since 2004. I have received the documents only for the first year and they are deducting some amount but am not receiving any documents. I have paid 100 or 200 rupees yearly, the premium was very low. I am not sure about other benefits.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 16, 2018
    • SBI Life Life Insurance
      "SBI life , life insurance"
      0.5 3.0/5 "Satisfactory"
      I have taken a life insurance from SBI LIFE. The total premium amount is 25000. I have to pay the premium for 5 years and after the maturity period i will get the sum assured plus the bonus amount. The premium amount will be directly debited from the salary account.
      Was this review helpful? 0
      , lucknow
      Reviewed on Mar 15, 2018
    • SBI Life Life Insurance
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a savings plan and I have to pay a premium up to the age of 60 years. If anything is to happen to me my family will get a sum assured and bonus. Else I would get only the sum assured. Like wise there is a sum assured at the age of 100years too.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 28, 2018
    • SBI Life Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a term insurance from SBI Life. The best about this company is that the premium is low and economical. The tenure is till the age of 60 years. After which the beneficiary will get the benefits. The sum assured is also good. I am happy with the benefits.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 28, 2018
    • SBI Life Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life Insurance with SBI Life.The premium amount is 19,000 in a year.The policy coverage is 3-4 lakhs,I have claim experience once they had covered 70 k.The policy is for 15 years.I had closed this policy and I am planning to open a new one.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 26, 2018
    • SBI Life Life Insurance
      "Good policy to use"
      0.5 3.0/5 "Satisfactory"
      I have taken a Money back policy with SBI Life from last 20 years and it is a good policy to hold. The tenure of this life insurance policy is 20 years and i get a cash back after every 4 years. I pay my premium once in a year through net banking and the payment options are convenient for me. I get good coverage and returns in this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 21, 2018
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