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 Option Minimum Premium :
• Single Premium OR
• Regular Premium
° Yearly
° Half Yearly
° Quarterly
° Monthly
• RP : Rs. 1,000/- Per Scheme
• SP : Rs. 5,000/- Per Scheme
 

Benefits:

 

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.

SBI Life Insurance Suraksha Plus Plan
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