Senior Citizens might require active life insurance at any given point in time. Life expectancy in India averages around 60-65 years, with people and/or spouses surviving till 100. A support plan for the future, if not already present, is a great idea to help your better half in case of any unforeseen contingency. In addition to that, some life insurance plans from SBI Life also offer a return of investment in terms of monthly income or lump sum amounts.
Senior citizens in India are individuals who have crossed the age of 60 years. Most senior citizens have adult children who are independent and rarely require the support of their parents, financially at least.
That nearly negates the need for initiating a new life insurance plan in order to leave behind a corpus for their offspring.
Plans from SBI Life Insurance aimed at senior citizens offer the flexibility of choosing the tenure and the cover amount and can be easily availed online or offline.
The entire range of insurance plans from SBI Life can be reviewed and compared online at BankBazaar. The comparison will include key details like the premium amount to be paid, the sum assured, the maturity benefits, optional riders and details about the funds that premiums might be invested in. All the information will be presented in a concise, tabular format with pictorial references when and where needed.
Upon deciding on a particular plan, one can fill in details pertaining to the life cover that is desired or the premium amount that one can pay and BankBazaar’s nifty online program will do the rest of the calculation and guide you further to the insurer, aiding you through every step of the process, till you get a policy in your name.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
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