SBI life Insurance Dhanrashi Plan

With changing times, large numbers of NGOs, Social Welfare Groups including Government aided agencies as well as Corporates have evinced interest to float new schemes that will cost a little but still bring well-being to their group members as well as some security for their lives. Hence, genesis of SBI Life – Dhanrashi!!

SBI Life – Dhanrashi is a traditional non participating Group Savings Linked Insurance scheme. This scheme is applicable for both employer-employee and non-employer employee groups.



Key Features: 



Convenient Savings cum Protection Scheme with:
Attractive returns on savings with twin benefits
Protection at low cost with no medical examination.
Hassle free joining process with no entry charges.





Maturity benefit
Accumulated Fund Value for the Group Member is payable as per the scheme rules.
Death benefit
Sum Assured plus Accumulated Fund Value for the Group Member is payable as per the scheme rules.
Returns on Investment:Savings component will earn annually compounded returns in two ways:
A minimum Basic Interest rate that is declared in advance for each financial year.
An Additional Investment Return, which will be declared at the end of each financial year, based on earnings on the fund and fund size.
Higher the fund size, higher will be the investment return.
Option to change the Sum Assured:
At the beginning of each policy year, the Master Policyholder may request for a change in sum assured, within the permissible sum assured limits.
Grace Period Provision:
A grace period of 30 days will be allowed for payment of contribution for Regular mode (15 days for Monthly mode).
Revival Period:
2 years revival period will be available, from the first unpaid contribution.
Suicide Exclusion:
No suicide exclusion is applicable for basic life cover.
Surrender Facility:
Master Policyholder can surrender the Master Policy from 2nd Policy year onwards subject to conditions applicable.
Our charges are certainly most competitive and are designed to benefit you irrespective of size of your Savings fund. We ensure you pay only for what you benefit — No hidden costs!


Tax Benefits*: 



Members’ total contribution, including service tax is entitled for income-tax rebate under Sec 80C of the Income Tax Act.
The entire claim amount, including interest earned, payable on Maturity or on death is free from income-tax (U/s 10(10D) of income tax Act.

The life cover premium paid by the employer towards Life Cover is treated as business expenses (U/s 37 (1)) of income tax Act.

*Tax Laws are subject to change. Please consult to your Legal/ Tax expert for details.

Generic Benefit Illustrator

Generic Benefit Illustrator for Formal Groups
Generic Benefit Illustrator for Informal Groups

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