The best way to protect your family and yourself from unforeseeable events, is to protect yourself with long term insurance plans that will help your family even in your absence. Many companies today both private and public offer a variety of life insurance schemes with very attractive benefits as well. These benefits can be from death benefits, maturity benefits, to survival benefits, from providing you with income tax benefits to offering you many attractive bonuses as well. A 10 year life insurance policy can help you deal with all of life’s uncertainties and protect you and your family with the financial support that’s required.
Who is a 10 year insurance plan recommended for to purchase?
Individuals who are generally recommended to purchase these plans are individuals who have obligations to families, changes in their lifestyle in days coming soon, individuals who are about to retire and would like to ensure the family expenses are looked after even after retirement. SBI Life Insurance has many of these products to choose from, to help you think of you and your families requirement.
Benefits of taking a SBI Life Insurance 10 years policy:
By opting for a SBI Life Insurance 10 year life insurance policy, the policyholder can enjoy benefits to the maximum.
- Get your insurance coverage for a longer tenure, making you live your life free from worry and tension.
- All nominees for the policies will receive the benefits in case of the unfortunate death of the policyholder.
- Many companies allow policyholders to apply for loans against their life insurance policies.
- Many companies also allow policyholders to avail tax benefits as per the rules of the Income Tax Act 1961.
- Maturity Benefits are provided to the policyholder in case the tenure of the policy has matured.
- Some even allow surrender benefits, if they wish to discontinue the policy after 2 years for a 10 year policy term.
- Rebates for large sum assured, and also grace period for payments are offers
Types of SBI Life Insurance 10 years policy:
SBI Life Insurance has a number of plans that will help individuals protect the need of themselves and families against any unfortunate events.
- SBI Life - Saral Swadhan+: This particular plans is an Individual, non-linked, non-participating, term assurance that provides life insurance as well as guaranteed benefit of maturity. The policy is for a period of 10 years minimum, with the sum assured being in the range of Rs. 30, 000 to Rs. 4, 75, 000. The policy has benefits of maturity, death, and surrender.
- SBI Life - Shubh Nivesh: This is another plan for SBI Life Insurance that is non- linked, with profit Endowment Assurance and life coverage. The policy can be taken for 10 years. The objective of this plan is not only to provide you with life coverage, but also savings and an income as well. Using the maturity benefit in the plan once can opt to take the maturity value either in a lump sum or in monthly regular incomes. Along with the maturity benefit, the policy also has death benefits, surrender or paid up benefit. You can also make your plan unique by adding riders to your policy.
SBI Life - Saral Shield: This policy is a traditional non-participating pure term Insurance plan. Providing you and your family with insurance safety net you deserve. With this policy you receive large sum assured rebates, women policyholder enjoy added discounts, tax benefits, and financial security. You also receive death benefits, there is no maturity benefit under this plan.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017