SBI Life Insurance for 1 Crore Policy

Any individual who is within the age group of 30 - 35 years, and has the capability of earning for more years to come, or is the sole breadwinner of the family. These individuals will be the most ideal to purchase a insurance plan with a sum assured of Rs. 1 crore.

Types of SBI Life Insurance 1 Crore Policy:

SBI Life Insurance offer a few of their policies which have a sum assured of Rs.1 crore, they are:

1. SBI Life - Smart Champ Insurance: This plan is designed to help your child have a brighter future and provide your child with the expenses related to your child’s further education. It is non-linked, participating, individual plan. The key features of the SBI Life  Smart Champ Insurance plan is to provide for:
   1. Education Needs - Smart benefits are paid in 4 installments after your child is 18 years of age and till he/she turns 21 years of age.
   2. Triple Protection - Protection for your child in case there is any unforeseen events occur during the term of the policy. By providing them with: Immediate Payment, Waiver of any due payments, Smart benefit.
   3. Option to make one single payment

With this plan the benefit of the SBI Life - Smart Champ Insurance:

1. Lump sum payment immediately
2. Benefit of survival will be at the end of the policy year when the child completes 18, 19, 20 or 21 years of age
3. Tax Benefit as per the Income Tax Act of 1961 is available under this plan

1. SBI Life – eShield: This plan is a non-linked, non-participating, individual plan with financial protection for individual who need specific tailored benefits at affordable costs. SBI Life – eShield plan comes with three plan options: Increasing Cover, Level Cover, and Increasing Cover with Future Proofing Benefit. The key features of this plan are listed below:
   1. Choose from a wide range of plan options.
   2. Customise your plan with the Death Benefit Payment Mode or Better Half Benefit Option.
   3. Avail extra coverage via two rider options.
   4. All plan options offer the Terminal Illness Benefit.
   5. Make the premium payment once, for a limited period, or the whole policy term.

1. SBI Life - Smart Power Insurance: SBI Life Smart Power Insurance is a non-participating, unit linked insurance plan that gives you protection and also looks at your investment needs as well.  It provides your family with the financial security as well as make makes investments in the financial markets. The key features of the plan are as follows:
2.  With Inbuilt Accelerated Total & Permanent Disability, you can protect your family financially.

1. The Trigger Fund option enables you to purchase low and sell high or select from 10 Smart Funds.

1.  From the sixth policy year, you can withdraw funds.

1. A lump sum payment of the Fund Value will be made if the Life Assured survives until maturity.

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