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SBI Life-Saral Maha Anand plan is a non-participating, unit-linked plan which helps you in managing your investments keeping in mind your appetite for risk. It gives you the power to check market-related returns on the policy that you have taken. You have the liberty to select your insurance cover subject to a maximum and a minimum level. Under this plan, you get the following benefits:
Following are the eligibility criteria for buying SBI Life - Saral Maha Anand Plan:
|Entry age for Regular Premium or Limited Premium||18 to 55 years|
|Age at maturity||65 years|
|Maturity age||65 years|
Listed below are the required Policy Term, PPT, Premium and Sum Assured for SBI Life - Saral Maha Anand Plan:
|Plan type||Regular Premium|
|Premium Payment Term (PPT)||10 years, 15 years, and 20 years|
|Policy Term||10 years, 15 years, and 20 years|
|Premium Payment Frequency||You can pay the premium yearly, half-yearly, quarterly, or monthly. You can avail the monthly mode of payment through Electronic Clearing System (ECS).|
Following table shows the amount of sum assured in this plan:
|Premium mode||Minimum Sum Assured for age below 45 years||Minimum Sum Assured for age 45 years and above||Maximum Sum Assured for age below 45 years||Maximum Sum Assured for age 45 years and above|
|Regular premium||You get 10 times the annual premium paid by you||You get 7 times the annual premium paid by you||20 times the Annual Premium||20 times the Annual Premium|
This is how SBI Life – Saral Maha Anand:
From the 11th year, the plan doesn't require any premium allocation charge. This increases your fund value. You will receive liquidity from partial withdrawals. You get twin benefit of insurance cover as well as market-linked returns. The following are the benefits that this plan provides:
Charges on the Plan
The following are some of the charges applicable on the SBI Life Saral Maha Anand:
Charges on premium allocation:
|Policy Year||Charges for Premium Allocation|
Fund Management Charges:
|Name of the Fund||Charges of Fund Management|
|Equity Fund||1.35% p.a.|
|Balanced Fund||1.25% p.a.|
|Bond Fund||1.00% p.a.|
|Discontinued Policy Fund||0.50% p.a.|
The following are some of the other features of this plan:
Under SBI Life – Saral Maha Anand, you can get tax benefits on the following:
Listed below are other benefits of buying insurance plans from SBI Life Insurance:
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