SBI Life Insurance launches Smart Guaranteed Savings Plan

SBI Life Insurance, the trusted and preferred private life insurer has launched a new product, SBI Life - Smart Guaranteed Savings Plan. The product is structured to boost savings through regular guaranteed additions which are paid even after the end of the premium payment term.

Announcing the launch of this unique product, Mr. Arijit Basu, MD and CEO, SBI Life Insurance said, "The Life Insurance sector in India has never looked more promising. Given SBI Life Insurances' strong goodwill amongst its customers, the SBI Life - Smart Guaranteed Savings Plan is an excellent addition to our current diversified product portfolio. The Plan is easy to understand and has a simple joining process besides providing guaranteed additions along with a life cover and security from market volatility."

On maturity, customers get the basic Sum Assured along with the accrued Guaranteed Additions. In the unfortunate event of any eventuality, the 'Sum Assured on death' (which is higher than the Basic Sum Assured or 10 times the Annualised Premium or 105% of total premiums paid) along with accrued guaranteed additions will be payable to the beneficiary.

The product has an affordable minimum premium of just Rs. 15,000/- and caters to customers in the 18-50 years age bracket. The Basic Sum Assured will depend on the age and selected premium.

Source : Equity Bulls

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