SBI Life - Smart Swadhan Plus is an insurance cum investment plan offered by SBI Life Insurance. With this plan, you can meet both your insurance and financial needs in the case of an eventuality. Under this plan, you can get the following benefits:
Listed below are the eligibility factors you must meet to purchase SBI Life - Smart Swadhan Plus:
|Entry age||18 to 65 years|
|Maturity age||75 years|
Listed below are the required Policy Term, PPT, Premium and Sum Assured for SBI Life - Smart Swadhan Plus:
|Sum Assured||Minimum: Rs.5,000 Maximum: No limit|
|Premium Payment Term (PPT)||Limited Premium Payment Term - 5, 10, 15 years Regular Premium Single Premium|
|Policy Term||For Limited Premium Payment Term of 5 years: 10 to 30 years For Limited Premium Payment Term of 10 years: 15 to 30 years For Limited Premium Payment Term of 15 years: 20 to 30 years Regular Premium: 10 to 30 years Single Premium: 10 to 30 years|
|Premium Payment Frequency||Single, yearly, half-yearly, quarterly, monthly|
For monthly mode, 3 months’ premiums have to be paid in advance.
This is how SBI Life - Smart Swadhan Plus works:
Choose the Life Cover amount, policy term, and premium payment frequency. Based on age and the other chosen parameters, the premium and Sum Assured will be determined. Under this plan, you can get the following benefits:
SBI Life - Smart Swadhan Plus doesn't cover death caused by suicide within 1 year from policy commencement or revival date. In such a case, all benefits under the policy ceases except the following:
Listed below are other important features of SBI Life - Smart Swadhan Plus:
|Free Look Period||After receiving the policy document, you have 15 days to review the terms and conditions of the policy. If you find the terms and conditions objectionable then you can return the policy and claim refund. The refund amount will be paid after some deductions. For policies purchased through distance marketing, you have 30 days to review the terms and conditions.|
|Grace Period||If you fail to pay premium within the due date, you are given a grace period of 30 days for annual and half-yearly premium payment frequencies, 15 days for monthly mode to pay the premium without interest. If the premium is not paid within the grace period, then the policy will lapse.|
|Revival||Policy can be revived within 2 years from the date of first unpaid premium. To revive the policy, you need to provide proof of insurability and pay all premiums due until reinstatement date.|
|Surrender||Policy will acquire Surrender Value only if minimum 2 full years’ premiums have been paid or LPPT 5 plan and 3 full years’ premiums for RP, LPPT 10, and LPPT 15 plans.|
Under SBI Life - Smart Swadhan Plus, 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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