SBI Life Insurance has launched two new term plans that offer life protection and premium returns. These plans are Saral Swadhan Supreme and Smart Swadhan Supreme. They are designed to cater to the evolving needs of customers who want to secure their financial future and fulfil their commitments.
The new term plans provide a lump sum benefit to the beneficiaries in case of the policyholder’s death during the policy term. They also return the total premiums paid by the policyholder at the end of the policy term, if he or she survives. The plans offer flexibility in choosing the premium payment term, policy duration, premium payment frequency, and sum assured. The minimum sum assured is Rs. 5 lakh for Saral Swadhan Supreme and Rs. 10 lakh for Smart Swadhan Supreme. The maximum sum assured is Rs. 25 lakh for Saral Swadhan Supreme and no limit for Smart Swadhan Supreme.
SBI Life Insurance is one of the most trusted private life insurers in India. It aims to increase insurance awareness and penetration in the country by offering customer-centric solutions that are affordable, simple, and convenient. The company has recently launched these two new products to empower customers to safeguard their loved ones from life uncertainties while simultaneously building a robust financial safety net. The plans also offer tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.