SBI Life Saral Jeevan Bima
SBI Life Insurance has introduced the SBI Life Saral Jeevan Bima plan to offer financial protection during unexpected situations. This life insurance plan comes with flexible premium payment options at an affordable price.
Furthermore, you can avail tax benefits in accordance with the current Income Tax Act of 1961 regulations with this plan. Read on to learn more about the SBI Life Saral Jeevan Bima plan including its features, benefits, eligibility, and more.
Features and Benefits of SBI Life Saral Jeevan Bima
The SBI Life Saral Jeevan Bima plan comes with the following features and benefits:
- The SBI Life Saral Jeevan Bima plan is a standard term plan that provides financial security for your family at a reasonable rate.
- The standard terms and conditions of the policy make it easier to understand.
- In the event of the insured’s demise during the policy period following the end of the waiting period or due to an accident occurring during the waiting period, a lumpsum amount will be paid to the nominee/beneficiary.
- During the waiting period, if the life assured passes away for reasons other than an accident, a death benefit equal to 100% of all premium payments made, excluding taxes, will be paid to the nominee/beneficiary.
Eligibility Conditions for SBI Life Saral Jeevan Bima
The minimum and maximum age limits to be eligible for the SBI Life Saral Jeevan Bima plan are listed below:
Minimum Age at Entry | 18 years |
Maximum Age at Entry |
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Maximum Age at Maturity |
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Key Highlights of SBI Life Saral Jeevan Bima
The key highlights of the SBI Life Saral Jeevan Bima plan are mentioned in the table below:
Minimum Basic Sum Assured | Rs.5 lakh |
Maximum Basic Sum Assured | Rs.25 lakh |
Premium Payment Term |
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Policy Term |
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Premium Payment Frequency |
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Minimum Premium Amount |
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Maximum Premium Amount |
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Premium Frequency Loading |
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Waiting Period | 45 days from the date of commencement of risk |
Grace Period |
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FAQs on SBI Life Saral Jeevan Bima
- What is the SBI Life Saral Jeevan Bima plan?
The SBI Life Saral Jeevan Bima plan is designed to offer financial protection during unexpected situations at an affordable rate.
- What are the entry age criteria for the SBI Life Saral Jeevan Bima plan?
The minimum entry age is 18 years while the maximum entry age is 65 years
- Can I buy the SBI Life Saral Jeevan Bima plan online?
Yes, you can buy the SBI Life Saral Jeevan Bima plan online.
- Does the SBI Life Saral Jeevan Bima plan offer any maturity benefit?
No, the SBI Life Saral Jeevan Bima plan does not offer any maturity benefit.
- What is the minimum sum assured under the SBI Life Saral Jeevan Bima plan?
The minimum sum assured under the SBI Life Saral Jeevan Bima plan is Rs.5 lakh.
- What are the premium payment modes available under the SBI Life Saral Jeevan Bima plan?
The premium payment modes available under the SBI Life Saral Jeevan Bima plan are single premium, monthly, half-yearly, and yearly.
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