SBI Life Smart Swadhan Plus- Protection Plan for your Family’s Future

Deepti is a single parent and works two shifts to provide for her family of three. Both her children are studying and Deepti wants the best of education and lifestyle for them. However, one of the worries she is facing her anxiety regarding her children’s future. Since she is a single parent, her children depend on her for their financial future.

One afternoon, while scrolling through the internet on her mobile phone, Deepti came across SBI Life Smart Swadhan Plus insurance Plan. The plan offered to secure her family’s financial future with affordable premium rates and refund on the survival of the plan.

Deepti had now found the solution to all her worries about her family’s financial future even if she is not around.

SBI Life Smart Swadhan Plus

This plan is an individual, non-linked and non-participating Life Insurance Savings Product with a return of premium feature to meet all your insurance needs. Let’s take a look at SBI Life Smart Swadhan Plus Plan benefits and features.

1. Protection

With this plan, you can avail life Insurance Coverage against any event. For those with a single premium (SP) policies, higher of basic sum assured or 1.25 times of single premium is available. For Limited Premium Payment Term (LPPT), higher of basic sum assured or 10 times of the annualised premium or 105% of the total premiums received up to the date of death is available.

2. Premium Return

With survival until maturity, you can get 100% returns of total premiums paid under the policy where the total premiums paid is equal to the total of all premiums received. This is excluding any extra premium and applicable Taxes.

3. Premium Payment

With this plan, you get the option to pay premiums through single payment for a limited period of 5, 10, 15 years or throughout the term of the policy.

4. Flexibility

You get the right to choose the period for which you require protection. You can choose the policy term from 10 years to 30 years.

5. Rebate

You can get the high sum assured rebate with a discount on premium rates.

6. Maturity Benefit

On survival until the maturity of the policy, 100% of total premiums paid during the tenure of the policy will be paid in a lump sum.

7. Death Benefit

This benefit is available for in-force policies. In case of death of the life assured, the sum assured on death will be paid to the Heir/nominee.

8. Tax Benefits

The tax benefits under this plan are as mentioned under relevant sections of the income tax, 1961.

9. Grace Period

A 30-day grace period is available for those who have opted for yearly/half-yearly/quarterly payment Facility. For those who have opted for the monthly payment facility, a 15-day grace period is granted.

10. Nomination

The nomination will be as per Section 39 of the Insurance Act, 1938.

11. Assignment

The assignment will be as per Section 38 of the Insurance Act, 1938.

12. Surrender

SBI Life Smart Swadhan Plus surrender requires a 5-year lock-in period. Visit your nearest SBI Branch to get complete information.

Eligibility Criteria

The eligibility criteria for the SBI Life Smart Swadhan Plus is mentioned below:

SBI Life Smart Swadhan Plus Customer Care Number

Call their toll-free number 1800 267 9090 between 9 am to 9 pm. You can also SMS ‘CELEBRATE’ to 56161 or mail them at info@sbilife.co.in

Conclusion

SBI Life Smart Swadhan Plus is a great plan to ensure that your family gets the best even if you are not around. One of the best features to look out for is the assurance of returns on the survival of the plan.