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SBI Life Insurance, one of the leading insurance firms in India, is a joint venture between the India-based State Bank of India and BNP Paribas Cardif. The insurer offers a varied range of life insurance policies, including savings plans, protection plans, retirement plans, child plans, wealth creation plans, etc. in an effort to meet the needs of their customers. The insurer also offers a Cancer Care Insurance and online plans that can be purchased directly on the insurer’s website. The insurer has reported a high claim settlement ratio (CSR) of 97.98% for FY16-17.
Some of the top insurance plans offered by SBI Life in the year 2018 are listed in the table below with important details about the plan.
|Plan Name||Plan Type||Age at Entry||Maximum Maturity Age||Policy Tenure||Sum Assured|
|SBI Life – Smart Humsafar||Endowment Plan||18 – 46 years||65 years||10– 30 years||
|SBI Life – eShield||Term Plan||18 – 65 years||70 years||5 – 30 years||
|SBI Life – Smart Money Planner||Endowment Plan||18 – 60 years||75 years||15 – 25 years||
|SBI Life – Smart Power||ULIP||18 – 45 years||65 years||10 – 30 years||Up to 20 x Annualised Premium|
|SBI Life – CSC Saral Sanchay||Variable Insurance Product||
||70 years||10 – 15 years||
The Smart Humsafar Plan from SBI Life is a participating, non-linked, endowment plan. This is a joint life insurance plan, wherein the policyholder can choose to extend the policy’s coverage to their spouse.
Key Features of the SBI Life – Smart Humsafar Plan
The eShield Plan from SBI Life is a non-linked, individual, non-participating, pure term insurance plan that can be purchased in a hassle-free manner from the insurer’s website.
Key Features of the SBI Life – eShield Plan
The Smart Money Planner Plan from SBI Life is a non-linked, individual, with-profit, endowment, assurance plan that comes with four different plan options which the policy buyer can choose from.
Key Features of the SBI Life – Smart Money Planner Plan
The Smart Power Plan from SBI Life is a non-participating, unit linked insurance policy that provides policy buyers a life cover and the option to invest in funds, as per their appetite for risk.
Key Features of the SBI Life – Smart Power Plan
The CSC Saral Sanchay at SBI Life is an individual, non-participating, non-linked, variable insurance plan that is designed to help policy buyers achieve their financial goals.
Key Features of the SBI Life – CSC Saral Sanchay Plan
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