Monday, October 7, 2019

SBI Life Insurance Suraksha Plus Plan

SBI Life – Suraksha Plus a pure term non participating product for all types of Groups such as Employer – Employee Groups, Credit Card / Banks / Mutual Fund Customer and any group of people sharing a common view, at a very affordable premium wherein SBI Life aims at Protecting your members and their family under all circumstances.


Key Features*: 


Flexible Option to select the Cover Term

Minimum Single Premium (SP) Mode : 1 YearMinimum Regular Premium (RP) Mode : 2 Years

Maximum Term : 30 Years

Wide choice of Sum Assured available

Rs. 1,000/- per Member to Maximum no limit (in multiplies Rs. 1/-)

Multiple premium payment mode options available

You can pay a Single Premium or pay regularly either yearly, half yearly, quarterly or monthly


Free Cover Limit facility availableCover spouse and /dependant parent(s) of your member

You have the choice to select any of the below options* in addition to basic life cover* of your member


Option 1 : Accidental Death Cover for the Group MemberOption 2 : Basic Life Cover +Accidental Death Cover for Spouse/Dependent Parent(s) of the Group Member

Option 3: Accidental Death cover for Spouse and / Dependent parent(s)

Surrender facility available for Single Premium mode.


Eligibility Criteria: 



Entry Age (as on last birthday)Group Size
• Min : 18 Years
• Max : 69 Years
• Min.: 50 members
• Max : No Limit
Premium Payment OptionMinimum Premium :
• Single Premium OR
• Regular Premium
° Yearly
° Half Yearly
° Quarterly
° Monthly
• RP : Rs. 1,000/- Per Scheme
• SP : Rs. 5,000/- Per Scheme




Maturity Benefits : No maturity benefits payable as it is a Pure term Product

Death Benefit :

For a Group Member:

In case of death due to any reasons, the Basic Sum Assured is payable.If option 1 is choosen, in case of death due to accident, an additional accidental sum assured will also be payable.

If option 2 is chosen:

In case of death due to any reasons, the basic sum assured for spouse/ dependent parent(s) is payable.

in case of death due to accident, an additional accidental sum assured for spouse / dependent parent(s) will also be payable.

If option 3 is chosen, in case of death due to accident, the accidental sum assured will be payable for the cover of spouse / dependent parent(s).

Grace Period
A 30 days grace period is available for all modes except monthly which is 15 days.


You may check Generic Benefit Illustrator of this plan from here.

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4.5 out of 5 stars Reviewer:adminFebruary 05, 2021